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Nov 14, 2013

KBC reassures after taking upfront hit on Irish loans

BRUSSELS, Nov 14 (Reuters) – Belgian financial services
group KBC said it would need to set aside far less in
future to cover potential losses on Irish loans after revealing
a hefty 775 million euro ($1.04 billion) provision for the
fourth quarter.

The group said it was making the higher than expected
provision as it sought to clean up its books ahead of a health
check of European banks.

Nov 12, 2013

Consumer, green groups voice fears over EU-U.S. trade deal

BRUSSELS (Reuters) – Consumers risk losing out in a planned free-trade deal between Europe and the United States if big business succeeds in loosening standards, European consumer and environmental groups warned on Tuesday.

U.S. and European Union negotiators are holding a second round of talks in Brussels this week on what would be the world’s biggest free-trade deal, with a special focus on reducing regulatory barriers to trade.

Nov 7, 2013

Steelmaker ArcelorMittal says it’s turning corner as earnings rise

BRUSSELS, Nov 7 (Reuters) – ArcelorMittal, the
world’s largest steelmaker, said on Thursday its two-year slump
was over and prospects for 2014 were looking up, after higher
U.S. steel shipments and mining output boosted third-quarter
profits.

The company, which makes 6-7 percent of global steel and is
a broad gauge for the health of the global manufacturing
industry, said it believed it had passed the low point of the
economic cycle.

Oct 31, 2013

AB InBev profit rises on rapid Mexican cost savings

BRUSSELS (Reuters) – Anheuser-Busch InBev (ABI.BR: Quote, Profile, Research, Stock Buzz), the world’s largest brewer, beat third-quarter profit forecasts as rapid cost savings in Mexico and higher prices helped offset sagging beer sales in its giant Brazilian market.

The maker of Budweiser, Beck’s and Stella Artois said it had found $250 million of savings just four months after taking full control of Corona brewer Grupo Modelo in Mexico, the world’s fourth-largest market in terms of profit.

Oct 30, 2013

Heineken extends Champions League deal by three years

BRUSSELS (Reuters) – Heineken, the world’s third largest brewer, has extended its sponsorship of the Champions League, Europe’s premier soccer club tournament, for three years.

The Dutch beer maker, whose flagship Heineken brand has been a sponsor since 2005, and European soccer’s governing body UEFA told Reuters on Wednesday that they had agreed a deal covering the period from 2015 to 2018.

Oct 30, 2013

Soccer-Heineken extends Champions League deal by three years

BRUSSELS, Oct 30 (Reuters) – Heineken, the world’s third largest brewer, has extended its sponsorship of the Champions League, Europe’s premier soccer club tournament, for three years.

The Dutch beer maker, whose flagship Heineken brand has been a sponsor since 2005, and European soccer’s governing body UEFA told Reuters on Wednesday that they had agreed a deal covering the period from 2015 to 2018.

Oct 28, 2013

Bets on for mega brewer merger as virgin ground shrinks

BRUSSELS/LONDON, Oct 28 (Reuters) – With half the world’s
beer produced by four big firms and few markets left for them to
tap, the time may be right for a $100 billion merger between the
two largest, Anheuser-Busch InBev and SABMiller
.

This mega-deal is tipped by analysts as the most likely
tie-up because of the other two, Heineken is family
controlled and Carlsberg is protected by a trust.

Oct 23, 2013

Heineken cuts profit outlook after eastern Europe tumble

BRUSSELS (Reuters) – Heineken (HEIN.AS: Quote, Profile, Research, Stock Buzz), the world’s third largest brewer, reduced its full-year profit guidance on Wednesday after beer sales in eastern European dropped sharply and slipped in Brazil and in large African markets.

The group, which brews Europe’s best-selling Heineken lager, Sol, Tiger and Stongbow cider, said it now expected its net profit before one-offs to fall by a low single-digit percentage this year on a like-for-like basis.

Oct 18, 2013

EU members agree to enter investment negotiations with China

LUXEMBOURG (Reuters) – European Union governments agreed on Friday to start talks with China to remove restrictions on foreign investment and set clearer rules on doing business after months of trade disputes over Chinese solar panels and EU wine.

The decision by trade ministers from the EU’s 28 member states means negotiations with China can start at a summit in Beijing on November 21, with the aim of sealing an investment agreement in the following two-and-a-half years.

Oct 18, 2013

Say cheese: EU strikes trade deal with Canada, looks to U.S

BRUSSELS/LUXEMBOURG (Reuters) – The European Union and Canada agreed a multi-billion-dollar trade pact on Friday that will integrate two of the world’s largest economies and paves the way for Europe to clinch an even bigger deal with the United States.

Canadian Prime Minister Stephen Harper and European Commission President Jose Manuel Barroso sealed the pact – the EU’s first with a member of the Group of Eight biggest world economies – by resolving outstanding issues in Brussels.

    • About Phil

      "I am responsible for Reuters news out of Belgium and Luxembourg, which has led to many long nights outside parliament in Brussels awaiting news of fraught coalition talks and state bailouts of Belgian banks. I have previously worked in London, Amsterdam, where my work included consumer electronics group Philips and the Lockerbie trial, and Berlin, where I covered the Hamburg trials of suspected September 11 conspirators."
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