FCT Fincantieri SpA

In Europe today, markets are flat ahead of the release of U.S. bank earnings, while wage growth in the U.K. hit an 11-year high despite Brexit uncertainties. The top business story: CRH plans to sell its distribution business to Blackstone for EUR1.64 billion. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

The grounding of Boeing 737 Max aircraft will cost the Shannon region about EUR58 million this year, according to acting chief executive of Shannon Group, Mary Considine. She told a special meeting of Clare County Council on Monday that the reduction of 120,000 passengers from three services affected by the Boeing Max grounding would end six years of passenger growth at Shannon airport. -The Irish Times

A court in Bonn has opened proceedings against two traders in the "cum/ex" affair, the first cases to be heard in the largest tax evasion scandal in German history. The proceedings should help determine whether "cum/ex" share trades--where parties used loopholes to both claim withholding taxes--are subject to criminal penalties, with a first hearing date set for Sept. 4. -Sueddeutsche Zeitung

Later this month France's Economy Minister Bruno Le Maire will travel to Rome to confirm that Paris wants to go ahead with the alliance between the Italian shipbuilding company Fincantieri and the French Naval Group. The alliance, known as the Poseidon project, is aimed at creating a defense giant in Europe. -Il Corriere della Sera

London Mayor Sadiq Khan has blocked construction of the proposed "Tulip" skyscraper in the U.K. capital, which he said would harm London's skyline. The tower, which was to be 1,001 feet tall, was designed by Foster and Partners for billionaire banker Joseph Safra. Detractors said it looked like a surveillance tower and a lift shaft. -The Times of London

The EU's Aviation Safety Agency is investigating Portuguese airline TAP's new fleet of Airbus A330neo aircraft after crew reported feelings of dizziness and nausea while working on the planes. Last month Airbus sent a letter to TAP, acknowledging faults with the planes. -TSF

The German Nurses' Association says it backs a recommendation from the Bertelsmann Stiftung to drastically reduce the number of hospitals in Germany, calling for a "fundamental rethink and new incentives" for Germany's approach to this area. -Welt

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(END) Dow Jones Newswires

July 16, 2019 06:39 ET (10:39 GMT)

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