Angela Merkel News
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European stocks dropped for a third day, to their lowest level this year, amid growing concern Greece will be forced to leave the euro area.
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Most Swiss stocks advanced, rebounding from the lowest level this year, as Cie. Financiere Richemont SA rallied after earnings topped estimates.
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U.K. stocks retreated for a third day as Greece set a date for another election amid speculation the country will leave the euro currency.
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Chancellor Angela Merkel fired Norbert Roettgen, the federal environment minister who led her Christian Democratic Union to its worst-ever result in an election in Germany’s most populous state.
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Updated 3 hours, 8 minutes ago
Police in Frankfurt cleared hundreds of protesters who set up camp outside the European Central Bank in October as they prepare for as many as 30,000 anti-capitalist activists to besiege Germany’s banking capital.
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EON AG, Germany’s largest utility, sold a network of natural-gas pipelines in the country to a group led by Macquarie Group Ltd. for 3.2 billion euros ($4 billion), shoring up its funds as nuclear earnings decline.
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France’s new prime minister Jean-Marc Ayrault, who was chosen in part for his fluent German, is proving to be a headache in Arabic.
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Irish Finance Minister Michael Noonan said he’s confident voters will back the European fiscal pact and that the country is the only euro-area member that could secure public support for such a referendum.
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Investors are amassing record amounts of insurance on German government debt on concern Europe’s biggest economy will suffer from the region’s worsening crisis.
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Asian stocks fell, with a regional benchmark index headed for its biggest loss this year, as Greece’s move to call new elections increased concern the country will leave the euro and derail efforts to contain the region’s debt crisis.
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