Bloomberg Shares of German shipping line Hapag-Lloyd AG plunged as much as 22 percent after the company cut its profit forecast for the year, as overcapacity in the industry combined with rising fuel costs to put a squeeze on profit. Danish rival A.P. Moller-Maersk A/S also fell on Hapag-Lloyd’s surprise profit warning. Container-shipping capacity has been growing faster than trade ...

Bloomberg The UK construction industry fared far better than previously thought during a snow-blighted first quarter, giving an unexpected boost to the economy. Building output fell 0.8 percent from the fourth quarter instead of the 2.7 percent drop estimated last month, the Office for National Statistics said. Overall economic growth was revised to 0.2 percent from 0.1 percent. Separate figures ...

Bloomberg German unemployment fell for the 12th consecutive month in June, suggesting that companies in Europe’s largest economy are relatively optimistic that the current slowdown won’t worsen. The number of people out of work declined by a seasonally adjusted 15,000 to 2.342 million, the Federal Labor Agency in Nuremberg said. Economists in a Bloomberg survey had predicted a drop of ...