EUROPEAN UNION

The euro briefly edged up against the dollar on Thursday after the European Central Bank president said 'strong vigilance' was needed to stem inflation risks, signaling a possible September rate hike.

France's Michelin posted a 33.5 percent jump in first-half core operating income to 860.6 million euros ($1.2 billion), meeting forecasts, but its stock fell again on U.S. economic woes.

The dollar fell on Thursday, dropping to nearly three-month lows against the yen, after June U.S. new home sales came in below expectations, adding to widespread fears about credit market problems.

The European Union has temporarily suspended its World Trade Organisation (WTO) complaint against India over the latter’s duties levied against European wine and spirit imports.

Asian shares mostly eased on Monday with South Korea retreating from record highs on fears the government may move to cool the market, while Brent crude was about $1 away from its highest level due to supply worries.

The Canadian dollar was higher versus the greenback on Wednesday, supported by strong commodity prices in a quiet session marked by a lack of domestic data and with U.S. markets closed for the Independence Day holiday.

Sterling jumped to a 26-year high versus the dollar for a third day on Wednesday, vaulting $2.02 and showing no signs of vertigo so far against a broadly weak dollar that stayed near record lows versus the euro.

Stocks traded higher on Monday, supported by takeover news and data showing manufacturing growth accelerated last month, while bond prices gained in a flight-to-safety bid as police investigated attempted car bomb attacks in Britain.

The dollar tumbled to a 26-year low against sterling and declined across the board on Monday on continuing expectations that U.S. interest rates will remain steady while borrowing costs rise overseas.

The European Commission has lifted a suspension of its review of a venture by Japanese electronics giant Sony and Germany's Bertelsmann that created the world's number two music company.

The European Union breathed a sigh of relief over the weekend after the bloc's leaders agreed on a way to reform its institutions, but critics from Britain to the Netherlands called for referendums that could derail a deal.

The European Union will work to overhaul its 27-nation treaty to replace an EU constitution it rejected in 2005.

A dispute over the place of competition policy in a European Union reform treaty was resolved at a summit on Friday after free-marketeers reached an agreement with France.

The European Union's data watchdog will expand its investigation of Web search engines beyond sector leader Google and write to that company, a European Commission source said on Thursday.

Japan still lacks a culture of shareholder activism but that may change as it tries to keep up with rapid shifts in the global financial environment, European Commissioner Charlie McCreevy said on Wednesday.

Alcatel-Lucent (NYSE: ALU) reported a drop in profit for its first quarter on Friday, saying lower volumes in wireless and core networks, as well as continued investments hampered growth.

The European Commission proposed on Tuesday to cut the administrative burden for companies by 25 percent by 2012 which will result in an estimated 1.5 percent increase in EU GDP.

The German Chancellor urged security and trade co-work ahead of her nation's EU presidency.

The biggest ever EU investment conference got underway on Monday with the start of a four day meeting in Brussels. A total of 30 European countries will prepare around 300 regional development programs for the next seven years worth $630 billion (€500 billion).

European Union (EU) yestoday announced it will collect the anti-dumping taxes of 16.5% and 10% for leather shoes importing from China and Vietnam respectively......

The European Central Bank's preference for making interest rate decisions by consensus rather than a majority vote by policymakers, like most central banks, has been criticized for being clumsy and slow.