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(MENAFN - AFP) Europe's stock markets rallied Tuesday after ECB executive board member Benoit Coeure signalled that the central bank would temporarily ramp up its stimulus programme, dealers said.

In Paris afternoon trade, the benchmark CAC 40 index of top companies surged 1.80 percent to 5,102.60 points. Frankfurt's DAX 30 won 1.84 percent to 11,807 points compared with ...

 
(MENAFN - AFP) Retail giant Wal-Mart Stores reported lower quarterly profits Tuesday, citing the impact of higher costs, including the wage hike for US staff.

Earnings for the quarter ending April 30 were $3.3 billion, down seven percent from the year-ago period.

Sales were $114.83 billion, down a scant 0.1 percent the 2014 quarter.

Walmart posted higher revenues ...

 
(MENAFN - AFP) Airbus on Tuesday warned of a technical glitch potentially affecting the engines of its A400M that was discovered during an internal test after one of the military planes crashed in Spain.

The company said in a statement it had sent out an alert to its clients urging them to carry out "specific checks of the Electronic Control Units (ECU) on each of the aircraft's ...

 
(MENAFN - AFP) Deutsche Bank has launched a review to decide whether to relocate some operations to Germany if Britain votes to leave the European Union in a planned referendum, a spokesman said on Tuesday.

Germany's biggest lender has set up a working group to formally examine the impact of a British referendum on EU membership, set to be held by 2017, the spokesman said ...

 
(MENAFN - AFP) Investor sentiment in Germany fell to its lowest level in five months in May as weaker-than-expected growth in the first quarter weighed on confidence, a leading survey found on Tuesday.

The widely watched investor confidence index calculated by the ZEW economic institute fell by a steeper-than-expected 11.4 points to 41.9 points in May, its lowest level since ...

 
(MENAFN - AFP) Britain's annual inflation rate sank into negative territory last month for the first time in more than half a century, official data showed on Tuesday.

The rate hit minus 0.1 percent in April, the Office for National Statistics (ONS) said in a statement, risking a period of deflation for Britain's economy.

Prices were pushed into negative territory on ...

 
(MENAFN - AFP) Prospective founding members of the China-led Asian Infrastructure Investment Bank (AIIB) will hold a three-day meeting in Singapore this week to discuss policies, the city-state's finance ministry said Tuesday.

The fifth chief negotiators' meeting on establishing the AIIB will begin on Wednesday and involve its 57 prospective founding members, the ministry ...

 
(MENAFN - AFP) Russia's second largest bank VTB said Tuesday it made a loss of 18.3 billion rubles ($371.8 million) in the first quarter, blaming a hike in interest rates and the economic slowdown.

The majority state-owned bank which has been targeted by European Union and United States sanctions had seen its profits almost halved in 2014.

Andrei Kostin, the bank's ...

 
(MENAFN - AFP) Vodafone's annual net profits slumped dramatically but the performance was skewed by the sale of its stake in Verizon Wireless, the British company said Tuesday.

Earnings after taxation collapsed to £5.76 billion ($9.0 billion, 8.0 billion euros) in the year to March 31, the world's second-largest mobile operator said in a results statement.

That compared ...

 
(MENAFN - AFP) British engines maker Rolls-Royce on Monday announced plans to cut 600 jobs at its struggling marine division that has been hit by sliding oil prices.

Rolls-Royce said half the losses would occur in Norway. Rolls' marine unit employs about 6,000 staff in 34 countries but is reducing the headcount by 10 percent as oil companies involved in offshore exploration ...

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