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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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David Cameron given reprieve in EU after Angela Merkel throws a lifeline

Category : Business

German chancellor rallied behind prime minister as she blocked an attempt to isolate the UK in budget negotiations

David Cameron arrived in Brussels on Thursday with criticism ringing in his ears that he was isolated in Europe after pledging to use the eurozone crisis to repatriate EU powers.

The prime minister left Brussels with a spring in his step on Friday evening after showing that – in the budget negotiations at least – he is absolutely not isolated.

A clear alliance of four rich nations – Britain, Germany, the Netherlands and Sweden – joined forces to make clear that Herman Van Rompuy’s plans for a €973bn (£786bn) EU budget were unacceptable.

Angela Merkel even signalled her dissatisfaction with what she saw as an attempt by Van Rompuy, the European council president, and José Manuel Barroso, the European commission president, to isolate Britain. Quentin Peel, the FT’s veteran Berlin correspondent, reported from Brussels on Friday that Merkel was “determined not to isolate David Cameron” at the summit.

The decision of Merkel shows she was making both a tactical and a strategic choice. On a tactical level, she agreed with the prime minister’s call for restraint, though she believes the prime minister’s call for an €50bn of cuts went too far. On a strategic level, she showed she is determined not to do anything that would strengthen the hand of those in Britain who would like to leave the EU.

Cameron will say that Merkel’s support vindicates the judgment he made when he faced her down and abandoned the main EPP centre right grouping in the European Parliament before the last general election. The German chancellor was furious with Cameron and indicated that relations would be strained. Cameron said in private that Merkel would take him seriously once he became prime minister.

But Merkel will never forget Cameron’s decision on the European parliament where the Tories now sit with the highly nationalist Polish Law and Justice party. Its leaders regularly rail against the Germans. Merkel’s continuing anger with Cameron means there are times when she will challenge him or indeed lay plans to thwart Britain.

One school of thought in Brussels suggests that Merkel was happy to support Cameron at this summit so that she can have a greater sway over him at the next EU summit on 13-14 December when an EU banking union will be on the agenda. Cameron will need Merkel’s support at the next budget summit, possibly in January or February, increasing the chances that he will agree to water down British concerns about the banking union, goes the new theory.

EU budget deal unlikely – Merkel

Category : Business

Angela Merkel says she doubts EU leaders will close a deal on their budget during the current summit in Brussels.

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Merkel lauds crisis-hit Portugal

Category : World News

German Chancellor Angela Merkel praises Portugal’s resolve in tackling its debt crisis, but faces angry anti-austerity protesters in Lisbon.

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Kipper Williams on Angela Merkel’s trip to Greece

Category : Business

Angela Merkel visit: ‘I thought we’d grab a spot of lunch’

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Eurozone crisis live: Anger over Athens security clampdown for Angela Merkel – as it happened

Category : Business

Greek police have banned protests on some Athens streets tomorrow, when thousands of police officers and snipers will protect Angela Merkel

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Tight Athens security for Merkel

Category : Business, World News

Security levels are raised in the Greek capital ahead a visit by German Chancellor Angela Merkel, her first since the eurozone crisis erupted.

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China in $3.5bn deal with Airbus

Category : World News

China agrees to buy 50 Airbus planes worth $3.5bn (£2.2bn), as part of a slew of trade deals signed by Angela Merkel at the start of a visit to China.

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Greek and German leaders put on a brave face

Category : Stocks

Antonis Samaras says Greece wants to stand on its own two feet. Angela Merkel supports Greece remaining in the eurozone, but says trust needs to be restored.

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A ringside view of calamity

Category : Business

Chris Riddell on David Cameron and Angela Merkel’s reaction to Spain’s economic agony

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#StopMerkel tops Twitter in Spain

Category : Stocks

German Chancellor Angela Merkel was the top trending topic on Twitter in Spain Thursday, but not in a good way.

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