In the week ending 28 November 2008 the decrease of EUR 115 million in gold and gold receivables reflected the sale of gold by two Eurosystem central banks (consistent with the Central Bank Gold Agreement that came into effect on 27 September 2004).
In October 2008, compared with September 2008, the volume of retail trade fell by 0.8% in the euro area (EA15) and by 0.3% in the EU27. In September retail trade remained unchanged in both zones.
Price caps for sending text messages abroad and other data roaming services such as video downloads or mobile TV were debated at a hearing of Parliament's Industry Committee on Tuesday. MEPs also discussed with mobile operators, regulators and consumer organisations whether there was a need to set voice-call roaming price caps for 2010-13.
Fitch Ratings says in a new report that Latvia could need a EUR5bn financing package from the IMF, EU and other international lenders to stabilise its economy and forestall growing risks of a severe economic and financial crisis.
Parliament's Budgets Committee voted on Tuesday at second reading on the draft EU budget for 2009. MEPs endorsed the agreement concluded with the Council on the level of payments (€116.1 billion) while increasing some expenditure on the EP's priorities (growth, cohesion, employment) above the level of the preliminary draft budget. The agreement on the "food facility" for developing countries was also approved.
The European Commission has published a study on the activities, regulation and supervision of mortgage lenders that are not registered as "credit institutions" under domestic law. It shows that in the majority of Member States, lenders operating outside the EU legal framework for credit institutions are regulated and supervised by national authorities, and that their national market share is small compared with that of fully-fledged credit institutions.
Fitch Ratings says that increased spreads on bond issues recently placed by European utilities will negatively impact interest coverage ratios. However, the negative consequences of increased borrowing costs will be partially mitigated by a "portfolio effect", as a number of utilities have large portfolios of outstanding bonds spread across different maturities, many of which were issued at a time when pricing was substantially lower than in current market conditions.
On the eve of a meeting of 27 national enforcement agencies and stakeholder groups in Brussels, Vice President Tajani, EU Transport Commissioner and EU Consumer Commissioner Meglena Kuneva have stepped up pressure on airline companies selling tickets on the web to meet their legal obligation to fully comply with all the requirements of EU law.
In the EU27, 60% of households had access to the internet during the first quarter of 2008, compared with 54% during the first quarter of 2007, and 48% had a broadband internet connection, compared with 42% in 2007.
