LONDON - A flagship British government scheme to boost mortgage lending must not become permanent like in the United States, outgoing Bank Governor Mervyn King said on Saturday.
FRANKFURT - New solar installations reached a fresh record of 7.5 gigawatts (GW) in Germany in 2011, playing into the hands of advocates for steeper cuts in tariff subsidies to reduce growth of solar power and the resulting higher costs for consumers.
UPS to defend TNT takeover November 12 says EU Commission
BRUSSELS (Reuters) - United Parcel Service (UPS.N) will seek to convince skeptical EU regulators about its proposed 5.2 billion euros ($6.7 billion) takeover of TNT Express (TNTE.AS) at a closed-door hearing on November 12.
The European Commission last month warned the world's No. 1 package delivery firm about the combined company's' high market share and would be seeking concessions before it would approve the deal.
Analysts said the merged entity would control a quarter of the market, ahead of Deutsche Post unit (DPWGn.DE) DHL's 19 percent.
The EU authority detailed potential problems in a 360-page confidential statement of objections or charge sheet, focusing on the intra-European express delivery market, according to sources.
UPS is likely to offer concessions after the hearing towards the end of November. The TNT deal is the biggest in the U.S.-based company's 105-year history. FedEx (FDX.N) also competes with UPS. ($1=0.7711 euros)
(Reporting by Foo Yun Chee; Editing by Mike Nesbit)
- Tweet this
- Share this
- Digg this