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 French court grants Eurotunnel bankruptcy protection as it aims to reduce its debts.
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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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British Energy, the nuclear generator, yesterday welcomed a decision by the European commission to approve a government-backed Â£5bn rescue plan.
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Bondholders at Eurotunnel back the firm's debt restructuring plan, paving the way for it to leave bankruptcy protection.
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The French parliament has approved a key clause in an energy bill permitting the highly controversial privatisation of gas group Gaz de France, destined to be absorbed by Suez.
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Eurotunnel bondholders are scheduled to vote on a plan to cut the firm's debt by more than half.
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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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BRUSSELS - Low-cost airline Ryanair has finally struck a deal with the Walloon government over the EUR 4 million it owes following the European Commission ruling over Charleroi airport.
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BRUSSELS After refusing its approval three weeks ago, Parliament voted Thursday in favor of a new European Commission, ending a period of uncertainty in European Union politics.
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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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Losses are narrowing at channel tunnel firm Eurotunnel, and the Anglo-French firm says it sees recovery ahead.
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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.
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Alitalia&#39;s board approved a four-year rescue plan Monday that was needed to unlock a 400 million-euro emergency loan and prevent bankruptcy, after unions agreed to thousands of job cuts.
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European regulators on Thursday approved the takeover of Spain's largest utility Endesa by Acciona and Italian utility Enel.
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The European Parliament has approved the new European Commission, the European Union&#39;s executive body, after an unprecedented dispute during which the assembly managed to increase its institutional clout.
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German Finance Minister Hans Eichel welcomed the decision by the EU Commission to suspend excessive deficit procedures against France and Germany, saying that Brussels recognised that Berlin was making progress ...