EUROPEAN NEWS — BUSINESS

Income inequality is at a historical high in Germany, local newspapers Frankfurter Allgemeine Zeitung and Sueddeutsche Zeitung Monday quoted a report by the German Federal Ministry for Economic Affairs and Energy as saying.

The first budget surplus in 15 years was recorded by the British government in July, the Office for National Statistics (ONS) reported here Tuesday.

Norway's sovereign wealth fund posted a return of 2.6 percent, or 202 billion kroner (25.6 billion U.S. dollars), in the second quarter of 2017, the fund said on Tuesday.

Analysts have significantly lowered their expectations for German economic growth in August, a study published Tuesday by the Center for European Economic Research (ZEW) indicates.

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