EUROPEAN NEWS — BUSINESS

The first floating wind farm in the world off the coast of Scotland has started to deliver electricity to the Scottish grid, said its operator, Norwegian multinational oil and gas company Statoil, on Wednesday.

Lithuanian state-controlled railway company Lithuanian Railways said on Wednesday it would appeal against the 28 million euros (32.9 million U.S. dollars) fine charged by the European Commission (EC) for breaching competition rules.

U.S. private equity investment firm Providence Equity Partners (Providence) has become the official owner of Latvia's leading commercial TV channels LNT and TV3 as it has completed the acquisition of the Baltic business of Swedish media holding Modern Times Group (MTG), Latvian media reported Wednesday.

The German tourism and gastronomy sectors continue to benefit from an uptick in domestic consumer spending, official figures released on Wednesday by the Federal Statistical Office (Statistisches Bundesamt) showed.

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