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Updated: July 19th, 2008

It took a few months. But the economic woes touched off by soaring oil prices and the subprime mortgage crisis in the United States are finally engulfing Europe.

The European Commission proposed Friday donating one billion euros in unused EU funds to farmers in poor countries as a one-off measure to help them tackle spiralling food prices.

The European Commission on Thursday launched a probe into a proposed merger of dairy giants Friesland Foods and Campina, expressing "serious doubts" it would comply with EU competition rules.

The European Commission cleared on Thursday Pernod Ricard's takeover of Sweden's Absolut vodka after the French drinks giant promised to sell some brands in order to ensure competition.

EU anti-trust regulators have raided the premises of grains and other farm product traders on suspicions they have been operating a cartel.

European schoolchildren could soon receive free fruit and vegetables as part of an EU effort to keep them from becoming overweight, according to a European Commission proposal lodged Tuesday.

European schoolchildren could soon receive free fruit at school as part of an EU effort to keep them from becoming overweight, according to a European Commission proposal due on Tuesday.

European Commission chief Jose Manuel Barroso said Monday he would propose the creation of a one billion euro EU fund to fight hunger and help farmers in poor countries.

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It took a few months. But the economic woes touched off by soaring oil prices and the subprime mortgage crisis in the United States are finally engulfing Europe.

The European Commission cleared on Thursday Pernod Ricard's takeover of Sweden's Absolut vodka after the French drinks giant promised to sell some brands in order to ensure competition.

The European Commission on Thursday launched a probe into a proposed merger of dairy giants Friesland Foods and Campina, expressing "serious doubts" it would comply with EU competition rules.

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