Europe mulls major step toward "fiscal union"

BERLIN/PARIS (Reuters) - When Jean-Claude Trichet called last June for the creation of a European finance ministry with power over national budgets, the idea seemed fanciful, a distant dream that would take years or even decades to realize, if it ever came to be.


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Russian court to hear $13 billion lawsuit against BP

MOSCOW (Reuters) - A Russian court has ordered a new hearing into a $13 billion lawsuit brought against BP by minority shareholders in its Russia's venture, TNK-BP , over a failed deal between BP and Rosneft , a BP lawyer said on Monday.


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Risk-exposed Portugal sticks to tough bailout goals

LISBON (Reuters) - Portugal's budget targets for 2012 are ambitious but it has the capacity to hit them, its international lenders said on Monday, saying the recession-mired country's bailout program was on track despite being undermined by rising unemployment.


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Scania CEO sees Europe truck market shrinking 10 percent

STOCKHOLM (Reuters) - Scania Chief Executive Leif Ostling, who will leave the position to join the board of majority-owner Volkswagen , told Reuters on Saturday he expects the European truck market to shrink by about 10 percent this year.


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