EUROPEAN UNION

US Holds Fire In 1st Salvo On Chinese Solar Companies

A man works on a roof covered with solar panels at the Centre for Alternative Technology in Wales
U.S. trade officials imposed surprisingly low tariffs on Chinese solar panels Tuesday, choosing to tread lightly and avoiding an all-out trade war when addressing local solar companies' complaints of unfair trade practices.
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Amnesty International calls on Asma al-Assad, wife of embattled Syrian president, to use influence to defend rights of all peaceful activists

Asma Al-Assad: Syrian First Lady Faces EU Sanctions, Writes 'I Am The REAL Dictator'

Asma al-Assad, the 38-year-old wife of Syrian regime leader Bashir al-Assad and a former investment banker, will likely join 114 other Syrians on a list of sanctioned individuals by the European Union, freezing her assets to preventing shopping, travel and other commerce in foreign countries; meanwhile, reports emerge of Assad's emails to friends where she boasts of the power of the Syrian regime, and that she is the real dictator.
The euro zone saw a trade surplus after four months of gains.

EU Considers New Controls For Shadow Banking Sector

The European Commission is widening its regulatory sweep to include "shadow" banking, heralding new controls over the sprawling and largely unchartered 46 trillion euro ($61 trillion) sector blamed for helping trigger the financial crisis.
#10 United Parcel Service (UPS)

UPS To Acquire TNT Express For €5.16B In All-Cash Deal

UPS will pay €9.50 a share in cash for Europe's second-biggest express-delivery provider, up from a February bid of €9 a share and 54 percent above TNT shares' closing price on Feb. 16. The deal is the biggest in UPS's 105-year history.
Greece

Derivative Swaps In Greek Debt Deal Could Weaken Europe Further

Greece's nearly $270 billion debt restructuring was deemed a default last week, bringing relief to creditors that had hedged their bets by buying credit default swaps. But the default declaration could send a wave of unintended consequences throughout Europe, further weakening some already-fragile economies.
US UK

US, UK Agree To Emergency Oil Release

Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices from derailing economic growth in an election year.
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Greek Cabinet Formally Approves Bailout Deal

Greece's cabinet unanimously approved the terms of its international bailout on Wednesday, hours after euro zone countries formally approved the 130 billion euro ($169 billion) financial package that Athens needs to stay afloat.
Oil

US Asks Saudi Arabia To Boost Oil Output For Summer

The United States is pressing Saudi Arabia to boost oil output to fill a likely supply gap arising from sanctions on Iran, Gulf oil officials said, adding that an increase in production is unlikely to be needed before July.
Spain's PM Rajoy holds a news conference at the end of a European Union leaders summit in Brussels.

Spain To Meet EU Budget Deficit Demands

Spain announced it will adhere to budget cuts demanded by the European Union, ending the first tussle over new, stricter budgetary rules within the trading bloc.

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