On January 1, less than a million people on the Mediterranean island of Cyprus will adopt the single European currency less than four years after it joined the 27-member EU.

Euro-sceptic Britain may have doubts over the single European currency
but its sovereign military bases on this Mediterranean island will still
embrace the euro when Cyprus adopts it from January 1.

The former chief of brewing giant Inbev has secured a 20-million-euro
(30-million-dollar) severance deal, bringing an end to two years of
wrangling, a Belgian newspaper reported Thursday.

European Central Bank President Jean-Claude Trichet pledged, in an
interview published Monday, to focus on eurozone inflation, and not let
interest-rate cuts in the United States and Britain distract the bank
from tightening monetary policy.

German state-owned bank KfW will carry a burden on its balance sheet of
about five billion euros (seven billion dollars) until 2017 owing to
trouble at subprime-hit lender IKB, of which KfW owns 38 percent, a
press report said on Friday.

The eurozone balance of payments showed a surplus of EUR 1.3 billion in October, as a trade surplus offset a deficit in current transfers.

The Cypriot parliament on Thursday approved a 4.41 billion pound (7.53
billion euro) 2008 state budget aimed at navigating the island through
its adoption of the European single currency in January.

French bank Credit Agricole said Thursday that higher writedowns and
provisions stemming from the credit crisis will have an additional
1.6-billion-euro (2.3-billion-dollar) impact on its 2007 earnings.

GE Commercial Finance and Allied Capital (NYSE: ALD) announced today that they have partnered to form a $3.6 billion senior secured unitranche loan fund. A unitranche loan blends senior and junior debt pricing and terms into a single first lien debt facility. Unitranche Fund LLC is designed to deliver a reliable loan product to borrowers […]

Morgan Stanley, the No. 2 U.S. investment bank, reported a US$9.4-billion writedown yesterday from bad bets on mortgage-related debt, leading it to take a $5-billion infusion from an arm of the Chinese government.
The writedown, nearly triple what Morgan Stanley warned of in November, pushed the investment house to the first quarterly loss in its 73-year […]