Eurotunnel wins debt-rescue vote
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Eurotunnel, operator of the Channel tunnel, was rescued from looming bankruptcy when key creditors approved a plan to slash debt exceeding 9.0 billion euros (11.9 billion dollars).
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A dizzying surge in the price of Eurotunnel shares eased on Thursday as the French market regulator warned investors and traders that the sharp rise had been &quot;atypical.&quot;
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EU regulators gave the green light on Monday to Deutsche Bank&#39;s purchase of Lloyds TSB&#39;s life insurance arm, Abbey Life, after finding the deal would not stifle competition.
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Political leaders at the European Parliament declared victory today and said they would give their backing to the new executive under Jose Manuel Barroso after the incoming EC chief presented his reshuffled team.
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LONDON: Subsea rail operator Eurotunnel unveiled yesterday a &quot;Project Dare&quot; plan to cut jobs and services as it tries to dig its way out of a mountain of debt in the face of falling revenues and market share.
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Eurotunnel, the troubled operator of the Channel Tunnel rail link, has said it had received two offers for a debt restructuring aimed at halting its slide into bankruptcy.
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Euro Disney, the French theme park operator, said yesterday it had won agreement from all its creditors on a modified debt restructuring plan, including a â¬250m (Â£170m) capital increase, designed to haul it back from the brink of bankruptcy.
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Debt-ridden Eurotunnel warns it will go into liquidation if its creditors do not accept its latest restructuring plan.
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The European Central Bank on Tuesday pumped 348 billion euros ($500 billion) into the financial system, easing conditions in credit markets.
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Creditors of the debt-ridden Channel tunnel operator Eurotunnel were meeting to vote on proposals to restructure the company's finances to avert a threat of bankruptcy.
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A public share swap offer by Eurotunnel has been a success, the French financial market regulator said on Friday, allowing the troubled Channel Tunnel operator to create a new less-indebted group and avoid liquidation.
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The European Parliament today finally approved Jose Manuel Barrosoâs revamped executive European Commission, ending a three-week political standoff that boosted the power of MEPs.
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Euronext shareholders back the stock market operator's 10.9bn euros takeover by the New York Stock Exchange.
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Europeâs biggest cross-border financial services deal in recent years was given a significant boost over the weekend when Mario Monti, European Union competition chief, in effect confirmed that EU regulators would approve the Â£8.
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ROME : Alitalia directors gave formal backing to a four-year rescue plan that will free up a 400-million euro (486-million-dollar) state-backed loan to keep the Italian flag carrier aloft.
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The European Union executive body dropped disciplinary action against serial deficit offenders France and Germany, ending a three-year standoff that left the eurozone's budget rules crippled.
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The takeover of Abbey National cleared a major hurdle today after shareholders in Spanish bank Santander Central Hispano (SCH) voted to approve the deal.