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In Europe today, oil majors gained on higher crude prices. Meanwhile, Ryanair saw its share price drop more than 8% after it cut its guidance, blaming high oil prices and strikes. Read about the above topics on Dow Jones Newswires or WSJ.com.

In Other Media...

Legal loopholes meant French taxpayers avoided paying a record total of EUR100.4 billion in taxes this year, according to the French Ministry of Finance. This is a EUR7 billion increase compared with last year, though the ministry said its 2019 budget should bring this number down. -Les Echos

The Greek state will book EUR1.25 billion from a deal that will extend by 20 years the concession of Athens' airport to private investors, after the European Commission imposed a 127% increase on the final price. The private investors, who see significant development potential in the airport, have agreed to this. -Kathimerini

Portugal's government has signed an agreement with the national airport operator, ANA, for the construction of a new airport in Montijo and the expansion of Lisbon's Humberto Delgado hub. ANA will invest around EUR1 billion on the works, which will be compensated through the extension of its initial concession to run the new airport. -Jornal de Negocios

LVMH's Celine fashion brand brought on Hedi Slimane as its artistic director with the expectation that he would double revenues--now at around EUR800 million--in a short timespan. But as Slimane presents his first Celine collection, it looks like a tall order. Slimane a few years ago took the Saint Laurent brand, owned by LVMH competitor Kering, from EUR400 million to EUR1 billion revenues. -FT

Swiss-Irish baked-goods group Aryzta said revenues fell 9.5% to EUR3.4 billion in the year to July 31. The company looks to reverse its fortunes by targeting earnings growth in 2019. -The Irish Times

Blackstone and Santander have put a portfolio of 2 million square meters of land--aimed at building 18,300 homes--up for sale for EUR500 million. -Cinco Dias

Banque Populaire-Caisse d'Epargne, a French bank, will change its overdraft fee rules after a report from French consumer magazine 60 Millions de Consommateurs condemned the use of 'irregular practices' by banks charging excessive fees. According to the report, bank fees generate EUR6.5 billion in revenue for French banks every year. - La Tribune

Italy's unemployment rate fell to 9.7% in August, down 0.4 percentage points compared with the previous month, the country's statistics agency Istat says. This is the lowest rate since January 2012. The unemployment rate for people aged 15 to 24 rose 0.2 percentage points to 31% in the same period. -Ansa

Oswald Grubel, a former CEO at UBS, said that rogue trader Kweku Adoboli must face the consequences of his actions as he fights deportation from the U.K. Mr. Adoboli was sentenced to seven years in prison for fraud after losing GBP1.4 billion of the Swiss bank's money. -The Times

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(END) Dow Jones Newswires

October 01, 2018 07:30 ET (11:30 GMT)

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