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AFP World Economic News Summary

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(Globalpost/GlobalPost)

The top world economic stories on Tuesday:

Switzerland-pharma-business-pay-Novartis

ZURICH: The outgoing head of Swiss pharmaceuticals giant Novartis, Daniel Vasella, has agreed to give up a massive pay-off, he said after a nationwide storm of protest.

Europe-food

PARIS: The world's biggest food company, Swiss-based Nestle, and the world's top beef producer, JBS of Brazil, were the latest in a long list of firms to be embroiled in Europe's spiralling horsemeat scandal.

Germany-economy-confidence-ZEW

FRANKFURT: Investor sentiment in Germany has risen to levels last seen before the start of the three-year-old debt crisis, adding to signs that Europe's top economy is over the worst, a poll found.

France-food-business-earnings-Danone

PARIS: French food industry group Danone reported a flat net profit for 2012 of 1.81 billion euros ($2.4 billion) and said it would cut about 900 jobs in management and administration across Europe to reduce costs.

India-Britain-diplomacy-economy

NEW DELHI: British Prime Minister David Cameron promised full cooperation with India and its police as a probe into alleged kickbacks in a helicopter deal clouded his meetings with leaders in New Delhi.

OECD-economy-growth-indicator

PARIS: The economies of advanced countries shrank in the final quarter of last year, giving a twist to broad slowdown in 2012, data from the OECD showed.

France-economy-growth-forecast

ATHENS: France will miss its forecast of 0.8 percent growth in the economy this year, French President Francois Hollande said while on a state visit to Greece.

Spain-economy-trade

MADRID: Spain reduced its trade deficit in 2012 by a third from the previous year as the recession-hit country cut back on imports and boosted its exports, government data showed.

SAfrica-mining-unrest-strike-AngloAmerican

RUSTENBERG: Anglo American Platinum workers downed tools to protest the shooting of colleagues by guards during a stand-off by rival unions, the latest outbreak of unrest at the crisis-hit firm.

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http://www.globalpost.com/dispatch/news/afp/130219/afp-world-economic-news-summary