European markets remain buoyant despite increasing uncertainty in Greek debt talks. The European commission slashes projections of Greek growth from 2.5% to 0.5%. Meanwhile the International Monetary Fund is pressuring Europe to offer some debt relief to Greece – though not offering any itself – and warning that it may withhold disbursements to Athens unless negotiations with the Eurozone advance. Two European banks, Britain’s HSBC Holdings plc and Switzerland’s UBS Group AG report solid first quarter growth. U.K. based online restaurant orders provider Just Eat says orders up 51% in first quarter. Number include the Mexican business it recently acquired. Volkswagen to merge its heavy truck businesses.
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