EUROPEAN confidence in the economic outlook fell more than economists forecast in November as the 17-nation eurozone edged closer to a recession and the fiscal crisis started to hit larger countries.

LEADING Irish firm SSE Renewables has won a series of lucrative tidal energy contracts in north-east Scotland as part of a multi-billion euro project in a location described as “the Saudi Arabia of marine power”.

Wall Street rose today on some strong earnings and new deals, but not without a struggle, as mounting signs of a tougher lending climate continued to dog investors.

The world’s three largest light-bulb makers today said they will push European consumers to switch to energy-saving bulbs in a bid to cut carbon dioxide emissions that are believed to contribute to global warming.

GERMANY’S transport minister met representatives of train manufacturer Transrapid yesterday to discuss the crash of a “maglev” high-speed train that killed 23 people and injured 10.

A high-tech train travelling at 125 mph crashed in north-western Germany today, killing at least 23 people in the first fatal accident involving the magnetic levitation system.

Wall Street pulled back sharply today as a lack of economic news left investors hesitant to buy stocks ahead of the Federal Reserve’s interest rate decision next week.

European mobile phone makers Nokia and Siemens AG are expected to announce today that they have agreed to combine their telephone equipment operations in a deal valued at €25bn.

THE European Parliament has rejected a law on patents for software, ending a three-year effort by companies including Nokia Oyj and Siemens AG to counter US domination of Europe’s $60 billion (€50.3bn) market.

Eoin English

A total of 215 new jobs will be created over the next five years in Co Cork, Employment Minister Micheál Martin said today.

RUSSIAN President Vladimir Putin tried to boost business confidence yesterday, reassuring skittish investors during his state of the nation address that rules governing the privatisation of state property and tax collection would not be constantly shifting.

THE European Central Bank held euro interest rates at 2% yesterday to help boost the slow growing eurozone economy which is being threatened by increased inflation fuelled by oil price increases.

Siemens AG may need a partner for its mobile-phone business after losses more than doubled in the last quarter, said investors.

Thousands of DaimlerChrysler workers walked off their shifts today, extending protests against the automaker’s threats to cut jobs in Germany unless employees accept steps to cut labour costs.

Unemployment in Germany, Europe’s biggest economy, dropped in June for the first time since January as companies including Siemens AG stemmed the pace of job cuts.

As many as 10,000 Siemens AG employees demonstrated yesterday against plans by Germany’s largest engineering company to shift some production abroad to help cut personnel costs.

Siemens AG, Germany’s largest employer, plans to increase work hours for an additional 19,000 employees to boost profitability, German daily Die Welt said.

Nokia Oyj’s market share dropped to 29% in the first quarter, the lowest in at least three years, as competitors such as Siemens AG shipped more attractive models, a researcher said.

GUERRILLAS and residents in Fallujah have "days, not weeks" to turn in heavy weapons, the top US Marine commander in Iraq said yesterday, warning an American push to take the city could be costly for both sides.

Siemens AG declined to comment on a report quoting a board member as saying that the German electronics and engineering giant is mulling a possible acquisition of Invensys PLC.

Siemens AG expects mobile phone sales in financial year 2004 to rise by over 5 million units, due to growing demand in China, India and Russia, the chairman of the mobile communication division has said.

India: Siemens AG will move most of its 15,000 software programming jobs from its offices in the US and Western Europe to India, China and Eastern Europe.

GERMAN retail sales fell 1.8% in November, the biggest drop in eight months, evidence that an export-led economic recovery in Europe’s largest economy has yet to bolster consumer spending.

Hochtief AG, Germany's largest construction company, says it has signed a deal with Siemens AG to buy the facility management business of Siemens Building Technologies from January 1, 2004.

Siemens AG's Information and Communication Networks unit has announced it has won an order together with the Information and Communication Mobile unit in Nigeria, worth a three-digit million euro figure.

GERMANY’S biggest increase in exports in almost three years and a recovery in French consumer spending helped the two largest of the dozen euro economies return to growth in the third quarter, government reports showed.

NOKIA predicted a 10th quarter of faltering sales as the dollar falls against the euro and network equipment demand drops.

Siemens AG's Siemens Building Technologies AG unit has won a $200m (€174m) order to provide building technology for five years to the US Army Corps of Engineers.

GLEN DIMPLEX has acquired for an undisclosed amount a Norwegian heating business which has a turnover of €50 million.

Five companies including Siemens AG, Alcatel and LM Ericsson AB are bidding for a US$150m contract to install telephone lines in Lagos, Nigeria's commercial capital.

EUROPE’S benchmark stock indexes have lagged comparable US measures this year, but they may soon start to pull ahead.

Siemens AG said its Information and Communication Mobile unit is to invest $110m (€100m) during the next five years in Brazil in the research and development of mobile phones for the Latin American market.

Siemens AG said it is in talks with energy companies and politicians in the US to win orders to renew their electricity grids.

SIEMENS AG, Germany's largest electronics and engineering company, said it will cut 2,300 jobs at its Information and Communication Mobile (ICM) unit as demand for wireless networks falls.

Infineon Technologies AG of Germany, a leading company in the worldwide semiconductor industry, is to establish a Customer Logistics Management Centre at its existing premises at Fitzwilliam Lane, Dublin.

THE European Central Bank may reduce its benchmark interest rate for the third time in seven months this week as the economy stagnates and the euro’s advance slows inflation, economists said.

Fujitsu Siemens posted a pre-tax loss of €21m for the six months ending June30, 2002, down from a profit of €3m in the same period in 2001.

THE idea that there are companies generating more wealth than Ireland has been debunked by the United Nations.