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Eu Seeks Carbon Tax For All Flights Over Europe

The brewer said it expects the consumer climates in both Europe and North America to remain under pressure. SABMiller said it achieved a strong performance in Africa, where volume rose 9 percent in the first half, and good progress in Latin America , South Africa and the Asia-Pacific region. The brewer gets the largest proportion of sales from emerging markets compared with its main rivals, helping compensate for declining beer sales in Europe and the U.S. Diageo Misses Volume rose 1 percent in Latin America, SABMillers largest region, in line with estimates. Civil unrest weighed on improvements in Colombia , though sales in Peru returned to growth in the second quarter after tax increases. Diageo said today that it saw headwinds in some faster-growing economies and missed analysts estimates for sales in both Asia and the Africa, Eastern Europe and Turkey region. Emerging-market growth is decelerating — fast — driven by a mix of weak demand and destocking, Deboo wrote. Diageos total organic revenue in the three months ended Sept. 30 rose 3 percent, trailing the 4 percent median estimate of 13 analysts in a Bloomberg News survey. A 1.1 percent sales decline in western Europe beat the median estimate for a 3 percent drop, while North American growth of 5.1 percent exceeded the 4.5 percent median estimate. The distiller said it still expects net sales in Europe to show a low single-digit decline for the full year. Remy reported a 3.6 percent decline in first-half organic sales, missing the median estimate of eight analysts for a 2 percent drop. The cognac maker cited a slowdown in China, which wasnt offset by growth in Europe and the U.S. To contact the reporter on this story: Clementine Fletcher in London at cfletcher5@bloomberg.net To contact the editor responsible for this story: Celeste Perri at cperri@bloomberg.net SABMiller Chief Executive Officer Alan Clark Simon Dawson/Bloomberg Conditions in both Europe and North America saw a modest improvement in the second quarter, SABMiller Chief Executive Officer Alan Clark said.

Europe Enjoys ‘Shutdownfreude’ Over U.S. Debt Troubles

Where is the reaction of the rating agencies to the irresponsible behavior of the worlds biggest economy? Mr. Fahrenschon, a former Bavarian finance minister, asked the crowd. Even in Europe, theres a tradition of parliaments struggling to seal a budget deal, Mr. Fahrenschon said, harvesting a round of applause. But in Europe it is good form that contracts that have been made salaries and social benefits are still serviced even in a period without a budget. Mr. Fahrenschon was speaking before Fitch Ratings Service put the U.S. credit rating on negative watch and warnedthat the governments failure to honor interest or principal payments on U.S. Treasury securities would trigger a downgrade to restricted default. But Mr. Fahrenschon was demanding harsher treatment than the one set out in the Fitch warning. Government finances in the U.S. were systemically and qualitatively different from Europe, he said, because by not paying salaries and benefits the government was already reneging on the social contract it had entered with its citizens.

Wednesday’s proposal by the 28-nation bloc’s executive arm would force airlines to buy Post to Facebook EU seeks carbon tax for all flights over Europe on USATODAY.com: http://usat.ly/1aQMdzo Incorrect please try again A link has been posted to your Facebook feed. Sent! A link has been sent to your friend’s email address. 1 To find out more about Facebook commenting please read the Conversation Guidelines and FAQs EU seeks carbon tax for all flights over Europe The Associated Press 7:40 a.m. EDT October 17, 2013 A passenger plane after takeoff from Switzerland’s Geneva International Airport on March 11, 2010. (Photo: AFP/Getty Images) SHARE 7 CONNECT 31 TWEET 1 COMMENTEMAILMORE BRUSSELS (AP) – The European Commission wants to impose carbon emission charges for all flights using Europe’s airspace. Wednesday’s proposal by the 28-nation bloc’s executive arm would force airlines to buy carbon emission permits for all flights within Europe but also for the parts of intercontinental flights that use the bloc’s airspace. OTHER NEWS: Lufthansa 747-400 heads to Tulsa for disassembly That means, for example, that a U.S. airline flying from New York to Frankfurt would have to buy pollution rights under the EU emission trading system for the part of the route within Europe’s airspace. The proposal still requires approval from the European Parliament and the bloc’s member states. The Commission hopes it will enter into force next year. The legislation would apply until 2020 when a recently agreed international airline carbon emissions tax scheme comes into force.

Europe’s car market grows in Sept from record low levels

Newly manufactured Ford Fiesta cars are seen on the deck of the car transport ship ”Tossa”, during its journey from a Ford plant in the German city of Cologne to the Dutch seaport of Vlissingen, as it enters a water-gate at Krammer in the Netherlands September 13, 2013. Credit: Reuters/Wolfgang Rattay FRANKFURT | Wed Oct 16, 2013 11:32am EDT FRANKFURT (Reuters) – A surge in UK auto sales and an extra working day boosted Europe’s new car market in September, giving evidence that demand may be slowly bottoming out after plumbing lows not seen in over 20 years. The European car market has been a prime casualty of the continent’s economic crisis as hard-pressed consumers defer purchases and a number of leading makers such as Peugeot (PEUP.PA) have been forced into radical restructurings. Automotive industry association ACEA said on Wednesday new car registrations in the European Union climbed 5.4 percent from a year ago to 1.16 million vehicles in September, only the third monthly gain in the past two years. The figures echo findings earlier this month that sales of new cars had grown in France and Spain during September. ACEA’s numbers showed the improvement was led by a 12 percent rise in sales in top market Britain to 403,000 vehicles, while sales in Germany shrank 1.2 pct to 247,000. The monthly total was still the second-lowest September figure since ACEA began gathering data for the 27 EU member states in 2003. Industry watchers have been looking for signs of recovery after the EU car market crashed to record lows in August. “The worst is behind us. The decline in sales has considerably slowed and we are now witnessing signs of recovery in demand,” said Peter Fuss, senior advisory partner at the Global Automotive Centre of accountants EY (formerly Ernst & Young). “The sales, however, continue to be artificially boosted by huge discounts and self-registrations by dealers,” Fuss added, referring to cars still held in showrooms. He warned it would take at least two years before the market was strong enough to grow on its own without the aid of incentives.