Italy’s battle with Brussels has triggered fears among executives that continental Europe’s third biggest economy will soon vote to leave the euro zone. Italy now has a right-wing populist government at its helm, with much of the power appearing to lie in the hands of interior minister and far-right Lega (League) leader Matteo Salvini. Euroskepticism […]

Burger King has apologized for offering a lifetime supply of Whoppers to Russian women who get pregnant by World Cup players. Critics assailed the offer, announced on Russian social media, as sexist and demeaning. The announcement was removed Tuesday from Burger King’s social media accounts but was still circulating among Russian social network users. It […]

German Chancellor Angela Merkel will meet some of her European Union peers on Sunday to try break a deadlock on migration and head off a possible clash over the bitterly-contested issue at a June 28-29 EU summit. Merkel will be joined by French President Emmanuel Macron, as well as the leaders of Bulgaria and Austria, […]

OPEC kingpin Saudi Arabia is struggling to convince some of the world’s largest oil producers over the need to increase oil output ahead of a key meeting on Friday. The Middle-East-dominated oil cartel is not scheduled to make a decision over production policy until later this week, although the gathering of OPEC and other exporters […]

The European Union will start charging import duties of 25 percent on a range of U.S. products from Friday after Washington imposed tariffs on EU steel and aluminum at the start of June, the European Commission said on Wednesday. The Commission formally adopted a law putting in place the duties on 2.8 billion euros ($3.2 […]

Eritrean President Isaias Afwerki raised hopes of a breakthrough in one of Africa’s most intractable conflicts on Wednesday by describing recent peace overtures from arch-enemy Ethiopia as “positive signals”. Speaking at a Martyrs’ Day event in the capital, Asmara, 72-year-old Isaias said he was sending a delegation to Addis Ababa to understand the position of […]

The European Central Bank (ECB) has lost its independence after gaining additional powers following the 2011 sovereign debt crisis, a former member of its Governing Council has told CNBC. Panicos Demetriades, formerly head of the Cypriot Central Bank, served as an ECB Governing Council member between 2012 and 2014. He resigned from his post due […]

European markets are set to open higher Wednesday morning, despite heightened fears of a full-blown Sino-U.S. trade war. The FTSE 100 is seen 52 points higher at 7,655; the CAC is expected to open up around 33 points at 5,424 while the DAX is poised to start 53 points higher at 12,742, according to IG. […]

Chancellor Angela Merkel said she and French President Emmanuel Macron agreed on Tuesday to create a euro zone budget charged with boosting investment in the currency bloc and promoting economic convergence between its 19 member states. “We are opening a new chapter,” Merkel said after talks with Macron on European reform ahead of a June […]

The British government has confirmed it will review the use of cannabis for medicinal use. Home Secretary Sajid David told the U.K. parliament Tuesday that the use of cannabis-based medicines in the health service should be examined, as the current setup wasn’t working. “It is not satisfactory for the parents, it is not satisfactory for […]