Business in brief

Body-care probe

The European Commission on Monday (31 May) launched an in-depth investigation into the planned takeover by consumer-goods giant Unilever of Sara Lee’s household and body-care business. The Commission said it was concerned that the merger could harm competition on the markets for personal care and cleaning products.Nuclear investigation

The Commission yesterday (2 June) announced that it was opening an investigation into complaints of anti-competitive behaviour by French and German nuclear plant-makers Areva and Siemens. The Commission will look at whether ‘non-compete’ clauses agreed by the two companies for their civil nuclear technology businesses violated EU antitrust rules. Rating agencies fine

The Commission yesterday presented draft legislation that would allow it to fine credit rating agencies up to 20% of their annual income if they break EU rules on avoiding conflict of interest. It also proposed to impose greater transparency obligations on agencies and subject them to greater supervision. The Commission also launched a consultation on reforming corporate governance in the EU’s financial services sector.Banking losses

The European Central Bank (ECB) on Monday warned that banks will suffer “considerable” loan losses in 2010-11, possibly rising as high as €195 billion. The ECB urged member states to speed up their efforts at fiscal consolidation, saying that the poor state of public finances was one of the main threats to the health of the banking sector.Spain downgraded

Fitch, a credit rating agency, on 28 May downgraded Spain to AA+, one notch below AAA. The Spanish government responded by committing itself to push through labour market reforms by the end of June if trade unions and employers fail to reach agreement.Unemployment

Unemployment in the eurozone reached 10.1% in April, the highest level since 1999, according to figures from Eurostat, the EU’s statistical office. Across the EU, unemployment was 9.7%, unchanged compared with March.

Click Here: kanken kids cheap