Telefonica SA must dial back its influence in Brazil’s phone business, the country’s antitrust regulator said, either by reducing its holdings or by convincing partner Telecom Italia SpA to sell its local unit.
Jeronimo Martins SGPS SA remains focused on delivering the lowest possible prices at its Biedronka supermarket chain in Poland to fend off growing competition, Chief Executive Officer Pedro Soares dos Santos said.
Five years after the onset of its worst recession, the European Union’s economic recovery remains painfully slow. Has anything been learned from this dismal performance about how governments can combat severe recessions? The answer is yes -- but sadly, the clearest lessons are the ones governments seem least likely to apply.
Henar Fuentes held out the white cardigan sweater as if she wanted nothing more in the world. It was on sale for 8.45 euros ($11.44) at a Madrid boutique just a few minutes’ walk from the Puerta del Sol.
U.S. stocks fell a third day amid concern an improving economy will cause the Federal Reserve to reduce monetary stimulus, while 10-year Treasuries advanced as the central bank bought debt. The pound climbed to near a two- year high against the dollar and crude oil surged.
Portugal’s bonds rose, with five-year yields falling from the highest in four weeks, as the nation exchanged 6.6 billion euros ($9 billion) of short-maturity notes for longer-dated debt to ease its funding needs.
Portugal exchanged 6.64 billion euros ($9 billion) of bonds to reduce debt repayments due in the next two years as it tries to exit its 78 billion-euro international bailout without needing another rescue.