Business - Business - Europe News latest news

Reuters - "Who paid money to be a prisoner?" reads the graffiti on the wall of an illegal migrant detention camp in Ukraine where hundreds of Pakistanis, Bangladeshis, Somalians and Vietnamese are being held.

AFP - Britain's EU partners piled pressure on London Tuesday to improve its public finances, setting a deadline of the 2009-2010 budget year for cutting its deficit to EU norms, an official said.

AP - The European Union has formally invited Slovakia to join the euro zone on Jan. 1, 2009.

AFP - EU finance ministers gave Slovakia the final greenlight on Tuesday to adopt the euro on January 1, 2009, leaving the ex-communist country less than six months to prepare for the changeover, an EU official said.

AFP - Britain's economy, buckling under the credit crunch and a slowing property market, faces a "serious risk" of recession as firms face soaring costs and falling orders, according to a survey published Tuesday.

Siemens on Tuesday announced plans to cut 16,750 jobs worldwide in the next two years to improve its competitiveness, sparking a row with its powerful works council

Minister for Europe, External Affairs and Culture Linda Fabiani will meet migrant workers involved in a range of different projects when she visits Fort William today (Monday July 7).

AP - European and most Asian stock markets fell Tuesday, hit with renewed fears over U.S. credit problems and their impact on financial companies after weakness in the previous session on wall street.

Alliance & Leicester slumped to a record low after one of the City's most bearish banking analysts advised clients to keep on selling

European stocks tumbled to a three-year closing low as fears of further writedowns in the financial sector sparked a fresh wave of selling