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Business

Analysis / Jean Pisani-Ferry

The seemingly coordinated actions of central banks across the globe masks how different policies are in fact undermining an effective respone to the economic crisis in Europe and the the rest of the world.

Japan Air to purchase 31 Airbus A350s for $9.5 billion

Japan Airlines is ordering 31 Airbus A350 planes worth a total of some $9.5 billion, the airline said Monday. It is the first-ever Airbus deal for the Japanese flagship and part of a move to replace its ageing fleet from US manufacturer Boeing.

German insolvencies decline as economy recovers

As the German economy grew out of stagnation earlier this year, the number of insolvencies declined in the first six months of 2013. But the recovery remains fragile and so does the situation of companies and consumers.

Alitalia rescued after financing deal agreed

Alitalia has avoided bankruptcy after the airline's shareholders agreed to raise fresh funds. The board of Alitalia agreed to a 500m euros (£425m; $678m) rescue package.

EU to clean up benchmark setting after rigging scandal

The European Commission unveiled plans Wednesday to closely regulate key financial benchmarks used globally to price loans after a rate-rigging scandal blew the lid off the clubby world of banking. "Today's proposals will ensure for the first time that all benchmark providers have to be authorised and supervised; they will enhance transparency and tackle conflicts of interest," EU Financial Markets Commissioner Michel Barnier said in a statement.

Eurozone recession ends with 0.3% growth in 2nd quarter

The eurozone has emerged from an 18-month recession with 0.3% growth registered in the second quarter, new data released Wednesday confirmed, although the bloc is plagued by record high unemployment and is falling short of global growth rates.

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