Profits at Eurotunnel collapsed last year as the business was hit by a tunnel fire and wintry weather, the firm said today. The company, which operates the Channel Tunnel and runs vehicle shuttle services, posted profits of just €1.4m (£1.3m) for 2009, down from €34m the previous year. Eurotunnel counted the cost of a fire in September 2008 which reduced capacity until February, as...

Troubled Eurotunnel Group has been in the news for all the wrong reasons. It endured a firestorm of criticism recently after leaving tens of thousands of passengers stranded at Christmas. The train operator has now announced net profits of just €1.4m compared to €44m in 2008 - a huge tumble. "The results for the year 2009 are proof of Eurotunnel's resilience in the face of d...

BERLIN (AFP) - German logistics group Deutsche Post reported Tuesday a profit of 644 million euros (878 million dollars) in 2009 after disastrous losses of 1.7 billion euros the previous year.

The owners of Kabel Deutschland, Europe’s largest cable network provider, plan to sell off part of the group in a deal that could value the company at about €2.5bn ($3.5bn)...

NEW YORK (Reuters) - The euro rose slightly against the U.S. dollar on Monday as concerns about Greece's indebtedness eased, while U.S. equities ended little changed after last week's rally.

LISBON/BRUSSELS (Reuters) - Portugal became the latest euro zone country to announce austerity measures to rein in a ballooning budget deficit on Monday as debt-stricken Greece urged global action to curb speculation in credit default swaps.

When all else fails blame the speculators and the shorts. That is the action the Greek Prime Minister George Papandreou, French President Nicolas Sarkozy, and German Chancellor Angela Merkel took today.

NEW YORK (Reuters) - The euro rose slightly against the U.S. dollar on Monday as concerns about Greece's indebtedness eased, while U.S. equities ended little changed after last week's rally.

As a result of the Greek debt crisis, the euro zone may get its own version of the International Monetary Fund (IMF), the EU said today. The proposed institution, which could be known as the European Monetary Fund (EMF), is being considered to prevent a repeat crisis but would not be set up to organise a

Gold reached as high as $1,140/oz in New York on Friday before closing marginally for the day at $1,134/oz but up over 1% on the week to maintain the positive technical action. It went as high as $1,138/oz so far in Asian trading this morning. Gold is currently trading at $1,137/oz and in euro and GBP terms, gold is trading at €831/oz and £748/oz respectively.