time for business news now with stephen carroll. hi stephen.et's start with a special delivery in the postal business. stephen: fedex is going to pay $4.4 billion to take over the dutch parcel delivery service tnt express. the news has caused a stock wave -- a shockwave on the stock market. tnt up almost 30% in trading today. they own almost 50% of tnt. -- postnl also up, they own him was 50% of tnt. ups was forced to drop its takeover when it was blocked by eu authorities in 2013. reporter: it is a shakeup in the parcel delivery sector, but will fedex's gamble pay off? the u.s. company is trying to buy dutch rival tnt express for 4.4 billion euros. >> we believe this acquisition will add significant value for fedex share owners, team members, and customers around the globe. this transaction allows us to broaden our portfolio of international transportation solutions to take advantage of market trends. reporter: two years ago ups' 5.2 billion euro bid was blocked on competition growth, but ups already had a strong european operation. tnt has st

time for the business news with stephen carroll. let's start in india.ourthouse rolled on one of the biggest fraud cases in the country. stephen: it has been dubbed india's and ron. -- india's enron. 10 people have been found guilty of charges, including criminal conspiracy and misappropriation of funds. they were sentenced to seven years in prison and fined around $800,000. >> let's come back to france. there are a whole host of strikes going on. stephen: i want to talk about greece first. the greek government has managed to make a payment to the international monetary fund. they have managed to make a payment of 450 million euros that they owed to the imf. that is despite the liquidity crisis the country is facing. the government has been given six working days to revise its plan for economic reforms. eurozone officials are saying that they have reached a critical point and the need to have come up with a plan by then. anchor: let's come back to paris. the strikes. tell us. stephen: it affects so many sectors in france. flights of been canceled. this i

time now to look for today's business news, and for that, i'm joined by stephen carroll. start out with potentially huge news in the telecoms up there. -- telecom sector. stephen: that is right nokia is wanting to buy out alcatel-lucent. if the deal did happen, it would be a big step for nokia and its efforts to compete in the telecom network business. the firm completed the sale of its handset unit to microsoft last year. alcatel-lucent meanwhile is undergoing a massive cost-cutting plan in an effort to return to profitability. a merger could risk involving the french government, though. oversight on deals and strategic sectors, government telling reuters they will be watching for the possible impact on jobs as well as research and development. let's see how the markets have responded so stop out until lucent shares up around 12% in trading today in paris -- have responded. alcatel-lucent shares up around 12% in trading to the in paris will have generally speaking, pretty flat on the european market just london eating out some small gain, investors said to be worried abou

it is time to look at the business news with stephen carroll. stephen: how are you? annette: in germany the indian prime ministers scheduled talks. stephen: it is important for narendra modi. he is continuing to push is made in india campaign designed to encourage foreign companies to set up manufacturing in the country. india is right 142 out of 180 countries when it comes to the ease of doing business by the world bank. narendra modi is trying to prove to german investors that that has changed under his leadership. pm modi: we are creating a stable economic environment that inspires confidence at home and abroad. we are pursuing strong discipline, fiscal discipline, to do that. i know how much chancellor merkel will emphasize that point. stephen: let's get what is happening on the markets. european shares trading slightly down in trading. it hit record highs last week. the shares coming back slightly from that position. mining companies have been hit by figures from china showing a sharp drop in exports, adding to concerns on the health of the second-largest econom

time for the day's business news with stephen carroll. stephen: this will involve an income supplement to all workers under 25. if you are earning less than 1400 euros per month, you can get an extra payment from the government of up to 130 euros. the idea is to support those who are in apprenticeships or entry-level positions to keep them in work. this is almost one in four under 25 in france who are unemployed. the opposition party has called it a cynical ploy to win youth votes. let's take a look. >> this work bonus will be for all those who are doing what we call small jobs, interim employment or part-time. it's the native -- it's an added advantage, a supplemental bonus that will allow them to carry on work. genie: is there any solution in sight to that country's debt crisis? stephen: the rate of interest is a record high of over 26% increase. the greek government and international lenders still are not close to agreeing on economic reforms which would release the badly needed last 7 billion euros of greece's bailout loans. one imf of

time to say hello to stephen carroll. hi, stephen. a gloomy prognosis for the economy.tephen: yes, this is from prime minister medvedev. he tells lawmakers the embargoes cost the country 25 billion euros. so far, low oil prices are also hurting russian growth, the russian economy shrank by 2% in the first three month of this year. staying in russia, the european union is set to accuse gazprom of abusing its dominant position in the market. the gas country has been under investigation by the eu for more than two years but believes this cap was delayed until now because of risk of further inflaming tensions with moscow and seeing supplies cut off. it is a pulled move being taken by the commissioner. reporter: she has artie taken on internet double -- she has already taken on internet giant google but she already has her sights set on another target. this case is against gazprom europe's biggest gas supplier. accused of illegally abusing its dominant place in europe's gas market by overcharging restricting the refill of its gas, and blocking rival gas suppliers. the case f