EU negotiators strike deal on farm policy reform

European Union negotiators said they agreed sweeping changes to the bloc's Common Agricultural Policy (CAP) on Wednesday, fixing the rules governing 50 billion euros ($65 billion) in annual farm subsidies for 2014-2020.

Under the reform, many of Europe's largest farms, notably in France, Spain and Italy, will lose up to 30 percent of their current subsidies to allow payments to be shared out more equally across the bloc.