Dutch Cabinet to get tough on jobless Europeans, and bad employers

European nationals who do not have a job or who cannot financially support themselves will have to leave the Netherlands within three months, if new rules the government is planning to introduce come into force. The aim of the new measures is to ‘better regulate the arrival and departure’ of migrants from other EU countries, ministers say. It is not yet clear if and how the measures conflict with EU rules on the free movement of people. ‘The... [more]

Swiss Nestlé sales tumble in first quarter

Swiss food giant Nestle said Friday its first quarter sales fell 9.3 percent, hit by the strong Swiss franc and costs arising from its sale of eyecare group Alcon. Sales for the period fell to 20.3 billion francs (€15.7 billion). “Sales were impacted by -9.8 percent from foreign exchange and by -5.9 percent from divestitures net of acquisitions,” the group said in a statement. The world’s biggest food company also... [more]

Greece outlines 15-billion-euro state asset sale

Greece on Friday unveiled plans for a massive sale of state assets, designed to raise some 15 billion euros ($22 billion) by 2013 in order to reduce its huge debt and put its struggling recovery on track. The government said it would privatise the country’s main electricity provider PPC — previously a sacred cow whose sale had been resisted — and would further reduce its 20-percent stake in main telecoms operator OTE. “In... [more]

Danish Mohammed cartoonist ‘won’t go to Jordan trial’

Danish artist Kurt Westergaard, known for his controversial caricature of the Prophet Mohammed, said Friday he had not been informed of a trial against him in Jordan and said he would in any case not attend. “I have not heard about this trial and have not been informed,” the 75-year-old cartoonist told AFP when asked about upcoming court proceedings in Amman. Zakarya Sheikh, spokesman for a group of local media outlets that sued... [more]

Dutch Iran Committee wants boycott of Iran Oil Show

The Iran Committee wants Dutch businesses to boycott the Iran Oil Show which is scheduled to be held from 16 to 19 April in Tehran. The Committee says their participation would undermine EU sanctions against the Iranian regime. The Iran Committee is a foundation created by Dutch citizens concerned about the government’s Iran policy. At the Oil Show, business in the energy sector will be given an opportunity to present themselves and gain... [more]

US slams Deutsche Bank for financial crisis role

Almost three years after the global financial crisis, Germany’s Deutsche Bank has been slammed in a US Senate report for allegedly recklessly pushing worthless mortgage-backed securities to investors. The US Senate Permanent Subcommittee on Investigations this week said the bank had wittingly pushed high-risk assets known as collateralized debt obligations (CDO) that would help cause the United States’ worst economic collapse since the... [more]

Human traffickers sell children to paedophiles

An international band human traffickers has been caught smuggling children to Germany from Haiti and beyond, then selling them to paedophiles, officials said Friday. The group allegedly posed as an aid organisation, luring the children with promises of a better life. Two men from Berlin were arrested at the Munich airport this week while trying to illegally enter the country with a 10-year-old, law enforcement officials told dailyBerliner... [more]

Euro zone hit by Greek restructuring concerns

Greek borrowing costs soared to new highs on Thursday and pressure rose on other financially weak euro zone countries after Germany suggested for the first time that Athens may have to restructure its large debt load. European policymakers scrambled to reassure investors that a restructuring for Greece was not on the agenda, saying such a step could have dire consequences for European banks and the fragile economy of the 17-nation euro zone. The... [more]

Kate Middleton books London hotel’s royal suite

Catherine Middleton will spend her last night as a single woman in the royal suite of London’s Goring Hotel, it was reported today. According to the Sun, the bride-to-be booked the luxury five-room suite for the night of April 28, the day before she marries Prince William. Hotel bosses are said to have spent more than $A230,000 renovating the top-floor apartment ahead of her stay. Photographs published in the newspaper show the suite... [more]

National Debt Office opens up for Saab loans

On Thursday the National Debt Office (NDO) took a small step towards Saabs recovery by opening up for the cash-strapped carmaker to receive loans from other sources than the European Investment Bank (EIB). “This morning we received a final proposal from Saab dealing with solutions for their financial problems. We have expedited it (to the government) … and by close of business today we will send a letter to the government... [more]

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