The Top European Business Stories of 2007

From the launches of the Airbus A380 superjumbo jet and the Apple (AAPL) iPhone to the U.S. subprime mortgage crisis and its financial aftershocks, 2007 was an eventful year for business in Europe. Initially confident of its economic prospects, the Old World saw growth projections dim by yearend due to the surging euro and tightening credit. The repercussions hit everyone from automakers to banks. And in Britain, sagging housing and retail sales could make for a tough 2008.

An array of political news set the backdrop. France elected a reformist President; Gordon Brown took over from Tony Blair in Britain; Russia's Vladimir Putin named his successor; and the European Union agreed to a treaty replacing its failed new constitution. Surging energy prices—and ongoing tussles over energy policy—set the stage for a boom in alternative energy, while growing concern over climate change put carbon dioxide emissions on the public agenda as never before.