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(MENAFN - AFP) Representatives of Greece's EU-IMF creditors have arrived in Athens and immediately started talks with Greek authorities on a third bailout package for the debt-wracked government, the EU said Monday.

"Teams from the institutions are already on the ground in Athens and work is starting immediately as we speak," European Commission spokeswoman Mina Andreeva ...

 
(MENAFN - AFP) Israeli pharmaceutical giant Teva said Monday that it was buying the generic drug business of Allergan for $40.5 billion, consolidating its position as a world leader in generics.

Teva will pay $33.75 billion in cash and offer $6.75 billion of its stock to Allergan, the company said, in a major move that will further shake up a drugs industry that has seen ...

 
(MENAFN - AFP) With the end game in sight to what could be the world's most ambitious trade deal, critics fear a controversial mechanism to protect investors will strengthen the hand of big business while eroding national sovereignty.

The Trans-Pacific Partnership (TPP) -- a wide-ranging accord that would encompass 40 percent of the world's trade -- could be sealed in Hawaii ...

 
(MENAFN - AFP) French farmers said on Monday they had blocked and turned back as many as 300 trucks importing food from Germany, the latest protest against a fall in food prices.

Farmers set up checkpoints on six roads between Germany and France late on Sunday night and said they would continue their action until later Monday.

"We've already held back between 200 and ...

 
(MENAFN - AFP) Switzerland's largest bank UBS on Monday posted second quarter profits of 1.2 billion Swiss francs ($1.25 billion, 1.1 billion euro), a 53 percent rise over the same period last year, which beat expectations.

The bank said its strong performance across all divisions demonstrated its "resilience", in the first results reported since UBS agreed to plead guilty ...

 
(MENAFN - AFP) German business confidence rose slightly in July, reflecting relief in Europe's biggest economy about the easing of the Greece debt crisis, the Ifo economic institute said Monday.

Ifo's closely watched business climate index rose to 108 points, the first increase in three months, from a revised 107.5 points in June, beating analysts' expectations, the institute ...

 
(MENAFN - AFP) Shanghai shares on Monday suffered their biggest one-day decline in more than eight years, plummeting 8.48 percent in defiance of government efforts to prop up the market.

Hong Kong's benchmark Hang Seng index fell 3.09 percent, or 776.55 points, to 24,351.96 on turnover of HK$116.25 billion (US$14.99 billion).

But the biggest falls came in mainland China.

The ...

 
(MENAFN - AFP) The dollar was under pressure Monday following weak US housing figures, as traders await the start of the Federal Reserve's latest policy meeting.

In Tokyo afternoon trading, the greenback fetched 123.47 yen, down from 123.81 yen in New York late Friday.

The euro changed hands at $1.1006 and 135.91 yen, against $1.0977 and 135.89 yen in US trade.

Data ...

 
(MENAFN - AFP) In Greece, hospitality is a concept as old as the Acropolis. But the country's hated creditors cannot expect the usual warm welcome when they arrive this week to thrash out a third huge international bailout.

It has been more than a year since top negotiators from the International Monetary Fund, European Union and European Central Bank -- together known as ...

 
(MENAFN - AFP) Shanghai shares on Monday suffered their biggest one-day decline in more than eight years, leading a broad Asian decline as they plummeted 8.48 percent and defied government efforts to prop up the market.

The dollar remained weak after a disappointing read on the US housing market, as investors await the US Federal Reserve's next policy meeting, while oil was ...

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