Zurich Switzerland-based reinsurance giant Swiss Re said on Tuesday its chief executive was retiring, and posted a 31-percent hike in net profit in 2015 as the costs linked to natural disasters slid. Swiss Re said its chief executive Michel Lies, 62, was set to retire after 35 years in the company and would be replaced on July 1 by the ...

Frankfurt Clouds loomed over the German economy on Tuesday as business confidence in Europe’s economic powerhouse fell to its lowest level in over a year. According to the closely-watched business climate index calculated every month by the Ifo economic institute, business sentiment slumped to its lowest level since December 2014 in February. The index fell to 105.7 points in the ...

Barcelona The European Union said on Tuesday it will launch an action plan to develop 5G mobile networks which will massively speed up Internet connections, in an effort to avoid falling behind other regions. “The Commission will work together with the industry to prepare a coordinated 5G action plan for the Europe,” EU Digital Commissioner Gunther Oettinger said at the ...