BERLIN/LISBON (Reuters) -A ship carrying Porsches, Audis and Bentleys from Germany to the United States has caught fire near the coast of Portugal's Azores islands in the Atlantic ocean, a spokesperson for carmaker Volkswagen said on Friday.

FRANKFURT (Reuters) -Allianz announced on Friday big bonus cuts for its CEO and board, and a settlement with the "vast majority" of investors, as it braces for the outcome of U.S. regulatory investigations into a multibillion-dollar trading debacle at its funds arm.

London (Reuters) -Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis.

European Central Bank policymaker Peter Kazimir on Friday joined a growing camp of rate-setters in favour of ending the ECB's bond-buying programme, which were designed to boost inflation in the euro zone.

PARIS (Reuters) -Sales growth at Hermes eased in the final quarter of last year, missing market forecasts and sending its shares down as much as 7%, as self-imposed production caps kept the group from meeting demand for its prized handbags.

FRANKFURT (Reuters) -Allianz Chief Executive Oliver Baete said on Friday that he and the rest of the board will take a hit to their bonuses for the past year following the collapse of a multi-billion-euro set of investment funds.