WORLD NEWS


EUROPEAN BUSINESS NEWS

  • Yahoo! News: Business - European Economy
    Business - European Economy

    • EU reaches deal on cross-border financial supervisors (AFP)

      Europe took a big step closer to its goal of creating cross-border financial supervisors, reaching a AFP - Europe took a big step closer on Thursday to its goal of creating cross-border financial supervisors, reaching a "crucial milestone" in efforts to reform a sector blamed for the global recession.


    • Romanian PM shakes up cabinet (AP)

      FILE - In this file picture taken on Tuesday, Oct. 13, 2009, Romanian Premier Emil Boc, center, speaks to media shortly after his government failed in a confidence vote in Bucharest, Romania. Romania's unpopular government appeared to be on the brink of collapse on Thursday Sept. 2, 2010, after premier Emil Boc fired four Cabinet ministers, with the economy minister also saying he wants to quit. Romania is mired in its worst recession of the past two decades and the government slashed public sector wages by a quarter and hiked sales tax from 19 to 24 percent on July 1 to reduce the budget deficit. (AP Photo/Vadim Ghirda, File)AP - Romania's unpopular government was in turmoil Thursday after the prime minister fired five Cabinet ministers, with the economy minister also saying he will quit.


    • German car exports up 12 percent in August (AP)
      AP - German car exports kept growing in August as a healthier global economy fueled sales abroad, helping push up production, an industry group said Thursday.
    • European stocks drop before ECB rate call (AFP)

      File photo of a trader at the Frankfurt stock exchange. European stock markets slid on Thursday as investors took profits from recent gains amid caution before the latest interest rate decision from the European Central Bank.(AFP/DDP/File/Martin Oeser)AFP - European stock markets slid on Thursday as investors took profits from recent gains amid caution before the latest interest rate decision from the European Central Bank.


    • Driven by Germany, Europe posts 1% growth (AFP)

      A smelter works with raw iron on a Salzgitter blast furnace in Salzgitter, Germany, in March. Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth would likely lose steam in the second half.(AFP/DDP/File/Nigel Treblin)AFP - Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth would likely lose steam in the second half.


    • Global stocks hit two-week high on manufacturing optimism (Reuters)

      People are reflected in a stock index board outside a brokerage in Tokyo August 31, 2010. REUTERS/Kim Kyung-HoonReuters - World stocks hit a two-week high on Thursday and oil prices rose as optimism from strong U.S. and Chinese manufacturing data extended into a second day ahead of a euro zone interest rate decision and key U.S. jobs data.


    • Swiss economy grew 0.9 percent in second quarter (AP)
      AP - Official figures show that Switzerland's economy grew by 0.9 percent in the second quarter compared with the first three months of the year, largely on the back of higher domestic demand and corporate investments.
    • ECB raises 2010, 2011 eurozone growth forecast (AP)

      Jean-Claude Trichet, of France, president of the European Central Bank, talks to a reporter at the close of the first session of the annual Federal Reserve conference, in Jackson, Wyo., Friday, Aug. 27, 2010. (AP Photo/Reed Saxon)AP - The European Central Bank raised its growth projections for the 16-nation eurozone on Thursday, but stressed that the outlook remains uncertain and said its effort to keep banks supplied with credit would stay in place for the rest of the year.


    • ECB holds rates, extends liquidity lifeline (Reuters)

      Jean-Claude Trichet, President of the European Central Bank (ECB) addresses the media during his monthly news confrence at the ECB headquarter in Frankfurt in this August 5, 2010 file photo. REUTERS/Alex DomanskiReuters - The European Central Bank held interest rates at a record low on Thursday and extended its liquidity safety-net in response to a lopsided recovery and worries about vulnerable banks.


    • Summary Box: US fears mean risk for ECB (AP)
      AP - THE SITUATION: Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture is being increasingly darkened by fears about the recovery in the U.S.
    • Spain halves deficit with painful austerity cuts (AP)
      AP - Spain's deficit is down sharply thanks to an unpopular cocktail of tax hikes and austerity cuts — good news for a government fighting to ward off fears it might need a bailout like the one that saved Greece from bankruptcy.
    • Equities make bright start to September (AFP)

      A woman walks past an electronic share prices board in Tokyo. Asian and European stocks were on the rise, lifted by bargain-hunting and upbeat data, as dealers set aside Wall Street's worst August performance in nine years amid stubborn US recovery doubts.(AFP/Yoshikazu Tsuno)AFP - Asian and European stocks rose on Wednesday, lifted by bargain-hunting and upbeat data, as dealers set aside Wall Street's worst August performance in nine years amid stubborn US recovery doubts.


    • Summary Box: HSBC sells US auto finance units (AP)
      AP - IT'S OVER: British bank HSBC Holdings PLC has sold its last U.S. auto finance businesses to Spain's Santander for about $3.56 billion in cash, completing its exit from a market that cost it billions during the financial meltdown.
    • Eurozone inflation eases in August to 1.6 percent (AP)
      AP - Inflation in the 16 countries that use the euro fell in August, official figures showed Tuesday, reinforcing market expectations that the European Central Bank will not be raising borrowing costs this year.
    • German official unemployment rate stable at 7.6% (AFP)

      A woman walks into an unemployment agency in the southern German city of Nuremberg in June 2010. The German unemployment rate was stable in August at 7.6 percent of the workforce, official figures showed as the number of people seeking work edged slightly lower to 3.188 million people.(AFP/File/Christof Stache)AFP - The German unemployment rate was stable in August at 7.6 percent of the workforce, official figures showed on Tuesday as the number of people seeking work edged slightly lower to 3.188 million people.


    • HSBC sells US auto finance units to Santander (AP)
      AP - British bank HSBC Holdings PLC said Tuesday it has sold its last U.S. auto finance businesses to Spain's Santander for about $3.56 billion in cash, completing its exit from a market that cost it billions during the financial crisis.
    • European stocks plunge; London down 1.14 percent (AFP)

      An Emirati man follows the market's movement at the Dubai Financial Market in the Gulf emirate. World stock markets sank heavily as investors shunned risky assets amid renewed fears over the United States economy, while Tokyo also dived on concern over the soaring yen.(AFP/Karim Sahib)AFP - Europe's main stock markets dived at the start of trading on Tuesday, following heavy overnight losses in New York and then in Asia as investors worried about weak US data and the strength of the yen.


    • Pro-Vatican politicians irked by Gadhafi in Rome (AP)

      A woman holds a copy of the Koran after a meeting with Libyan leader Moammar Gadhafi, at the Libyan Academy near the Libyan ambassador's residence in Rome, Sunday, Aug. 29, 2010 where Gadhafi will be staying. Gadhafi has given a lesson on Islam and copies of the Quran to a few hundred Italian women as he arrived in Rome for his fourth visit in a year, participants in the encounter said. Between 200 and 500 women, recruited by a modeling agency and paid an undisclosed sum to attend, arrived by bus at the Libyan ambassador's residence just as Gadhafi's plane was landing at Rome's Ciampino airport at the start of a two-day visit. (AP Photo/Riccardo De Luca)AP - Premier Silvio Berlusconi threw a gala evening for his "friend" Moammar Gadhafi Monday, thanking him for strengthened ties between Tripoli and Rome and dismissing as behind the times those criticizing the Libyan leader for trying to convert Italians to Islam during the visit.


    • Greek FinMin: markets still assessing reforms (AP)

      Greek Finance Minister George Papaconstantinou speaks to the Associated Press during an interview at his office in Finance ministry, in Athens, on Monday, Aug. 30, 2010. Greece's finance minister predicts international markets will wait until the end of the year to see whether the country is meeting its financial targets before reacting positively to its efforts to overhaul the economy and pull itself out of financial crisis.(AP Photo/Petros Giannakouris)AP - The international bond markets will likely wait until the end of the year before passing judgment on Greece's efforts to overhaul its economy and pull itself out of a debt crisis that nearly led to the country's bankruptcy earlier this year, the finance minister said Monday.


    • Summary Box: Eurozone economic sentiment up again (AP)
      AP - SPRING IN PARIS: Economic confidence in the 16 countries that use the euro rose to its highest level in nearly two-and-a-half years during August.