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London Stocks Soar on Takeover News; Pound Sinks on Brexit Woes

London stocks rallied Monday on corporate takeover news, while the pound sank to a two-year dollar low on festering Brexit concerns, dealers said.

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Pfizer to Combine Off-Patent Drug Business with Mylan

Pfizer announced Monday it will combine its off-patent drug business with the generic drugmaker Mylan to create a global leader in low-cost treatment, as drugmakers face intense political pressure to drive down prices in the United States.

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Saudi Chemical Giant Profits Nosedive over Low Prices

Saudi petrochemicals giant SABIC said on Sunday its net profits for the second quarter and first half of this year dived due to a sharp decline in product prices.

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Breeders Fear EU-Mercosur Pact Will Make Mincemeat of Belgium Beef

The Libramont agricultural show is the highlight of the year for Belgium's proud beef industry, but this year even the sunny skies of western Europe's record heatwave couldn't chase one looming shadow away. 

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Air France to Place Mega-Order for A220 Jets

Air France will this week announce plans to purchase between 50 and 70 Canadian-made Airbus A220 medium-haul jetliners, part of a keenly-awaited revamp of its fleet, France's Journal du Dimanche newspaper reported Sunday.

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Iran Ships Stranded in Brazil are Set to Depart

Two Iranian ships stranded off the coast of Brazil for weeks were setting sail Saturday, officials said, after a court ordered state oil giant Petrobras to fuel up the vessels.

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Trump Threatens French Wine in Digital Tax Retaliation

U.S. President Donald Trump on Friday vowed "substantial" retaliation against France for a tax hitting U.S. tech giants, accusing his counterpart Emmanuel Macron of "foolishness" and issuing a veiled threat to impose tariffs on French wine.

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WhatsApp to Launch Digital Payments Service in India

Messaging giant WhatsApp plans to launch its first payment service this year in India, its biggest market with 400 million users, the company said Friday.

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U.S. Economic Growth Slows in Q2, 2018 Falls below Trump Target

The American economy hit the brakes in the second quarter, as activity declined in an increasingly skittish industrial sector and exports fell, but the U.S. continues to outperform other advanced economies, according to government data released Friday.

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European Equities Rise; Euro Steadies after Two-Year Dollar Low

Europe's stock markets rebounded Friday on bargain-hunting and the euro stabilised after striking a two-year dollar low, as dealers dwelled once more on the European Central Bank's interest rate outlook.

Frankfurt stocks won 0.3 percent and Paris added 0.4 percent, while London added 0.5 percent in value. The euro held steady at $1.1143.

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