Content about Europe

Google has released a major new study into the use of social tools in the workplace, which gathered opinions from 2,700 professionals across Europe.

The research revealed that 71 percent of senior executives are using social tools at work at least once a week compared to 49 percent of those in more junior roles – going against the stereotype that social media in business is most popular with younger generations.

A major natural gas discovery has been made offshore Mozambique in the deepwater Rovuma Basin.

The discovery was made by London, UK-based Cove Energy together with its partner, Houston, US-based Aanadarko Petroleum, nearly 20 miles north-west of the Prosperidade complex.

The Golfinho discovery well encountered more than 193 net feet of natural gas pay in two high-quality Oligocene fan systems. The well was drilled to a total depth of approximately 14,885 feet in water depths of approximately 3,370 feet.

German multinational engineering and electronics giant Bosch Group had a record-setting year in 2011 and the outlook remains positive for 2012.

In fiscal year 2011, the company best known for its automotive components achieved worldwide sales of $71.7 billion (€51.5 billion), recording its second highest rate of growth since 2000.

The green light has been given for an onshore wind farm in Wales, to be developed by Sweden’s Vattenfall.

The 76-turbine Pen y Cymoedd Wind Energy Project was granted development consent yesterday, by Charles Hendry, energy minister at the Department of Energy and Climate Change. The wind farm is located on publicly-owned land managed by Forestry Commission Wales in the south of the country.

Once operational, it is hoped that Pen y Cymoedd will increase Welsh renewable electricity by 37 per cent.

Gatwick Airport has signed a deal with Air China, which is seeking to expand its London network.

China’s national flag carrier will operate a non-stop service from Gatwick to Beijing International Airport four times a week. The Airbus A330-200 aircraft will depart Gatwick at 1300 on Mondays, Wednesdays, Fridays and Saturdays, arriving at Beijing airport at 0620 local time the following day. Return journeys will leave at 0135 and touch down at Gatwick at approximately 0550 the same day. Monday’s flight will start operating from the beginning of June.

UK-based Sirius Minerals has announced plans for a potash mine in North Yorkshire, following the completion of a detailed scoping study (DSS).

The company said that York Potash has the potential to become one of the world's most important mining and fertilizer projects. Funding options are now being exploredfor the first $2.7 billion development phase.

The project will be sited between Whitby and Scarborough, although Sirius has not yet specified a precise location.

German car manufacturer Daimler has reported a steep rise in its quarterly profits, boosted by record sales of Mercedes-Benz cars.

The company’s net profit for the first quarter of the year increased by 20 per cent to €1.42 billion, with revenue rising nine per cent to €27 billion.

Raleigh, one of the UK’s best-known brands, has been sold to Netherlands-based Accell Group for €60 million.

Accell said the acquisition of Raleigh adds well-known global brands to its portfolio, further strengthening its position in North America and the UK in the markets for bicycles and bicycle parts & accessories.

Allantone Supplies focuses on keeping the maritime traffic that bustles around the UK well supplied with fuel. Running a short-notice, niche operation, the company makes customer service its top priority.

Swiss food giant Nestlé has agreed to acquire Pfizer Nutrition for $11.85 billion, it has been announced.

Nestlé said the acquisition would be a strategic fit with its infant nutrition business, given US-based Pfizer Nutrition’s complementary portfolio and strong presence in high-growth markets.

Nestlé described Pfizer Nutrition as a high-quality, high-growth infant nutrition business with strong brands, value-creating and accretive to the Nestlé model.

Norwegian EPC specialist Kvaerner has been awarded an engineering, procurement, construction and management contract for the Shell-operated Ormen Lange/Nyhamna onshore facilities on the west coast of Norway.

The contract, worth NOK 6 billion (excluding options), is a framework agreement for a duration of six years, with options for an additional two-plus-two years.

The IFC, a member of the World Bank Group, and the Islamic Development Bank (IDB) have announced an investment of up to $100 million to support the construction of major infrastructure projects across the Middle East and North Africa.

The investment is part of an effort to stimulate economic growth in the MENA region. The IFC and IDB are each investing $50 million in the Arab Infrastructure Investment Vehicle (AIIV), part of the Arab Financing Facility for Infrastructure (AFFI), a joint initiative of the World Bank, the IDB and IFC.