Shares of Germany’s second-largest lender Commerzbank rallied Tuesday after its first-quarter profits beat forecasts. The bank also said it aims to resume its dividend payouts for this year. Commerzbank’s Chief Financial Officer (CFO) Stephan Engels told CNBC’s Annette Weisbach in Frankfurt Tuesday that the company’s plan to win business from smaller rivals was paying off. […]

The International Monetary Fund (IMF) needs to reach an agreement with Greece and its European creditors by next week to ensure that the fund has enough time to give money to the embattled nation. Greece has been seeking debt relief — a relaxation of the terms for paying back its debts — since 2015, but […]

Moscow-based Kaspersky Lab plans to open a data center in Switzerland by the end of next year to help address Western government concerns that Russia exploits its anti-virus software to spy on customers. Opening the Swiss data center is the latest effort by Kaspersky, a global leader in anti-virus software, to parry accusations by the […]

Two Italian populist parties that are expected to lead the next government have asked for more time to reach a coalition agreement — prolonging political uncertainty that has enshrouded the country since early March. The Five Star Movement (M5S) and Lega — the former was the most popular single party at the March general election […]

The philanthropic foundation funded by the billionaire George Soros is to close its offices in Hungary, saying it can’t protect its own staff from the country’s government. Open Society Foundations will move its international operations in Budapest to Berlin in Germany, according to a press release Tuesday. “The government of Hungary has denigrated and misrepresented […]

The United States blocked a United Nations (UN) Security Council statement drafted Monday that called for an independent investigation into the deaths of at least 58 Palestinians along the Israeli-Gaza border. Monday’s violence followed several weeks of mass protests in the Israeli-blockaded territory of Gaza, which is governed by militant Islamist group Hamas. The unrest […]

German growth halved in the first quarter of the year due to weaker trade and less state spending, data showed on Tuesday, though analysts said they saw it as a temporary blip. Europe’s biggest economy grew by 0.3 percent in the first three months, the slowest rate since the third quarter of 2016, preliminary data […]

British low-cost airline easyJet posted a narrower half-year pretax loss Tuesday and guided that it expected revenue per seat to be positive in the second half of the year. The company posted a pretax loss of £68 million ($92 million) for the six months ended March 31, an improvement on the £236 million loss it […]

Vodafone Chief Executive Vittorio Colao will step down in October after 10 years in charge of the world’s second largest mobile operator, and will be succeeded by finance director Nick Read, the company said on Tuesday. Colao has transformed the British company during his time at the helm. He took Vodafone out of the United […]

German technology and industrial conglomerate Thyssenkrupp on Tuesday posted a 17-percent increase in its second-quarter operating profit, helped by a recovery in steel prices that has already benefited larger rival ArcelorMittal. The group, which makes everything from submarines to chemical plants, said second-quarter adjusted earnings before interest and tax (EBIT) came in at 500 million […]