European Press Roundup: European Commission Calls on Ireland to Apply Antitax-Avoidance Rules

In Europe today, the German consumer sentiment is set to continue declining in August for the third month in a row, and chemical and pharmaceutical giant Bayer warns of severe weather affecting its crop-science business. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

The European Commission has served formal notice on Ireland, calling on it to implement key antitax-avoidance rules in relation to how companies use interest payments to cut their tax bills. Ireland had said it would delay implementing the changes until 2024, but the Commission has signaled that it doesn't agree with the basis on which this was done. -The Irish Times

Portugal has closed its first solar technology tender, in which a record-low price of 20 euro per megawatts per hour was set. The project captured investments of about EUR1.2 billion. -Economista

French biotech company Genomic Vision has signed a collaborative research agreement with pharmaceutical giant Sanofi in the field of biomanufacturing in gene therapy projects. -Les Echos

Italgas said first-half net profit increased 10.3% to EUR116.2 million. The Italian gas operator's revenue rose 2.3% to EUR609.4 million, while earnings before interest, taxes, depreciation and amortization rose 2.3% to EUR433.9 million. -La Repubblica

Sky Deutschland is reducing its workforce in Unterfoehring, Germany. Chief Executive Carsten Schmidt said a double-digit number of jobs are affected at the German company, which is part of Sky Limited and Comcast. In addition, a low double-digit number of managerial positions will be cut. -Handelsblatt

Iberdrola has begun an environmental impact study for what will be the largest solar power plant in Europe. The Francisco Pizarro plant will have a total capacity of 590 megawatts and cover around 1,300 hectares in the Spanish region of Extremadura. -El Economista

Write to Barcelona editors at [e-mail]

(END) Dow Jones Newswires

July 30, 2019 07:18 ET (11:18 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.