Dawdling on law change, Italy may miss out on cheap foreign funding

LONDON, June 26 (Reuters) - Italy, the euro zone's biggest debtor, risks missing out on cheap foreign funding unless the Treasury can win approval to use controversial derivatives to protect itself against currency swings.

S&P's Kraemer: euro zone has much to do to cut debt, boost growth

(Reuters) - Euro zone countries still have much work to do to cut debt and boost growth and their credit ratings are unlikely to rise until they get their economies into better shape, a senior Standard & Poor’s official said on Tuesday.

German Ifo business morale in June hit by Ukraine, Iraq

BERLIN (Reuters) - German business sentiment weakened more than expected in June as concern grew among companies in Europe's largest economy that tensions in Ukraine and Iraq would hurt their business.

'HS3' high-speed rail link needed to boost north - Osborne

A so-called HS3 high-speed rail link in the north of England between Manchester and Leeds could help to create an economic area to rival London, Chancellor George Osborne is to say.

European Union cracks down on corporate tax avoidance scheme

BRUSSELS: The European Union is closing a loophole that allows companies to shift some of their profits between different country divisions to avoid taxation.