Business news for Wed, 28 Nov 2007 & with word european. 32 news.

THE Chinese government will further allow the market to determine the yuan exchange rate and more flexibility to the currency band, Premier Wen Jiabao said yesterday. Wen made the remarks during a speech at the fourth EU-China Business Summit in Beijing, which attracted about 500 entrepreneurs from China and the European Union. However, he emphasized China would improve the exchange rate "in a proactive, manageable and gradual manner." Some Western countries have been pressuring China to revalue its currency at a faster pace, complaining the exchange rate is the cause of global economic imbalance and mounting trade deficits. "Exchange rates are a cause, but not the sole decisive factor, for trade deficits," Wen said. "Since the yuan appreciated, China has seen no dwindling exports, which is a testimony to the existing global industrial structure and the competitive advantages enjoyed by Chinese products." Wen said the yuan exchange rate against

BRUSSELS, Belgium - Antitrust regulators have begun a detailed examination of car navigation device maker TomTom NV's proposed $4.

The European Commission has launched a state aid probe into the use by Ryanair of Pau airport in France.

The US warned that regional peace was at stake as mediators from the European Union, US and Russia urged Serbs and Albanians to avoid any action that could lead to violence following the failure of last-ditch talks on Kosovo.

The European Central Bank promises another injection of liquidity after last week's warning about the return of credit pressures

Reuters - Banks scrambled for cash on Wednesday to cover their funding needs as a year-end credit squeeze intensified and the European Central Bank stepped in to lend three-month funds at its highest rate in 6-1/2 years.

LONDON (Reuters) - Banks scrambled for cash on Wednesday to cover their funding needs as a year-end credit squeeze intensified and the European Central Bank stepped in to lend three-month funds at its highest rate in 6-1/2 years.

BRUSSELS, Belgium (AP) -- Guardian Industries Corp. of the United States and three other companies were fined about $724 million on Wednesday by European regulators who said they fixed the price in Europe of flat glass used to make windows, fire-resistant glass and mirrors....

The global credit squeeze has had little impact on business and consumer borrowing in the eurozone, European Central Bank data suggested, with the effects of the recent financial turmoil yet to feed through into the 13-country economy

Four of the world's largest glass makers have been fined almost ?500m for rigging prices in the European market for 'flat glass', used in products such as double-glazing and safety glass

The fall of 2.97 per cent in the Sensex is less than half of over eight per cent decline in the US blue-chip index Dow Jones Industrial Average (DJIA). It is also less than the average losses of more than seven per cent each for the European, Asia and world equity markets.

jumped on hopes that profitability will improve after its third-quarter loss and that Asian, Gulf and Russian investors are targeting European banks hit by the subprime crisis.

European shares advanced to break a two-session losing streak on gains from banks such as UBS and Barclays.

China's rise as a global trading power obligates it to drop barriers preventing foreign competition in its domestic market and contributing to its ballooning trade surplus, the European Union's top trade official said Wednesday.

AFP - Europe's main stock markets rose strongly Wednesday on positive earnings news and following a sharp rebound on Wall Street overnight, dealers said.

A British hedge fund has hired a former litigator to invest $100 million in European legal disputes, in what The Times of London says is believed to be the first formal arrangement of its kind. MKM Longboat, a Jersey-based, London-run hedge fund that manages $2.3 billion in assets, has hired Susan Dunn, formerly managing director of [...]

After recent high-level talks in China on trade and currency issues, Jean-Claude Trichet, the president of the European Central Bank, hinted that Beijing, too, may be seeking to stabilize trade imbalances.

DOMESITC stocks gave up morning gains and dropped at the close today as steel makers slid on speculation the United States and European Union regulators may impose punitive duties on Chinese imports. The Shanghai Composite Index, which tracks both yuan-denominated A shares and hard-currency B shares, declined 1.19 percent, or 57.72 points, to 4,803.39 at 3pm today. The Shenzhen Composite Index, which covers the smaller mainland stock market, declined 1.57 percent, or 19.44 points, to 1,219.98. Among the stocks on the Shanghai Composite Index, 357 rose, 398 fell and 91 were unchanged. The US Commerce Department proposed preliminary duties on imports of Chinese steel tubes and woven sacks after determining that China is providing unfair subsidies to makers of those goods. European Union regulators will probably examine a complaint by steel makers ArcelorMittal and ThyssenKrupp AG about cheap steel imports from China, a step that could lead to punitive duties, EU Trade

The European Commission (EC) has fined a cartel of glassmakers, including Britain's Pilkington Group, €486.9 million (£348.4 million) for co-ordinating price increases for flat glass deliveries across Europe in 2004 and 2005.

Anglo Irish Bank led the gainers list as a rebound in troubled financial stocks led European equities higher