Archive Europe: Economy

  • BERLIN— International Monetary Fund head Christine Lagarde said after talks with Chancellor Angela Merkel in Berlin that she sees no need for a "haircut" of Greek debt but that Athens needs to make "significant progress" on reforms. Athens agreed Monday to implement further reforms beginning in 2019, after the country's current third bailout has ended.

  • More than 2,500 French expats gathered in central London on Tuesday evening to listen to Emmanuel Macron, the centrist candidate for the presidential election.

  • President of French far-right Front National (FN) party Marine Le Pen delivers a speech during a major rally to launch her presidential programme.

    The euro plummeted to six week lows against the dollar on Wednesday amidst concerns over the French general election.

  • NEW YORK, Feb 22- The euro hit a six-week low against the dollar on Wednesday on concern over France's presidential election campaign, a growing gap between U.S. and euro zone interest rates and the increasing risk of a rate increase from the Federal Reserve in March. The euro fell below $1.05 for the first time in six weeks to $1.0494 in early trading.

  • GENEVA, Feb 22- A global agreement to boost trade by cutting red tape and streamlining border checks came into force on Wednesday, promising a 0.5 percent lift to the world economy by 2030 even as it faces renewed protectionism from the United States. World Trade Organization Director General Roberto Azevedo hailed the start of the pact, which he said was the "...

  • An oil platform off the coast of Angola

    The investment bank lowered its price forecast for Brent crude through 2022 to an average of $50-$70.

  • LISBON, Portugal— Portugal is finding it hard to please the International Monetary Fund. Despite fighting its way out of a financial crisis, cutting the budget deficit to its lowest level in more than 40 years and boosting growth through exports, the IMF says Portugal must do more. The IMF said in a report Wednesday that Portugal must reduce its government and...

  • *UK economy expands 0.7 pct in Q4, fastest growth in a year. LONDON, Feb 22- Britain's economy sped up at the end of 2016, data showed, but over the whole year it was weaker than previously thought and there were signs that the Brexit vote will increasingly act as a brake on growth in 2017.. The pound fell after Wednesday's Office for National Statistics figures, which no...

  • An Airbus A400M military aircraft with army personnel onboard takes off from the German army Bundeswehr airbase in Jagel, northern Germany.

    Airbus has been forced to write-off billions of dollars as it struggles to get its beleaguered A400M military plane back on track.

  • The presidential candidate from the anti-EU, anti-immigration National Front party is all about national sovereignty and independence. She wants France to take control of its money, subject to a referendum that would lead France out of the European Union and its shared currency. But how would France pull off a euro exit, or "Frexit"?

  • Structural issues reminiscent of the lead up to the 1929 Wall Street crash are once again at play, says Paul Gambles of MBMG Group.

  • LONDON— Britain's economy grew less quickly than originally estimated in 2016, losing the mantle of being the fastest-growing among the Group of Seven of the world's biggest economies. The Office for National Statistics says growth was revised down to 1.8 percent from the 2 percent originally estimated. Chris Williamson of financial research firm IHS...

  • BRUSSELS— Italy's government was put on notice Wednesday that it may be sanctioned by the European Union for not getting the country's debt levels down. In a report on Italy's debt, the executive European Commission urged Rome to take more cost-saving measures, worth up to 0.2 percent of its annual GDP. In a series of tweets, Italian Finance Minister Pier Carlo...

  • LONDON— Lloyds Banking Group says its underlying profits rose slightly in the fourth quarter as it began to move beyond past scandals and a government rescue during the financial crisis. The bank says underlying profit, which excludes one-time items like restructuring costs, increased to 1.79 billion pounds from 1.76 billion pounds a year earlier.

  • BRUSSELS— The European Union's budget watchdog is seeking a 29.8 million-euro fine for Austria after accusing one of its regions of providing false debt data over two years. The European Commission said Wednesday that "serious negligence of government entities of Land Salzburg led to the misrepresentation in the statistical notifications of 2012 and 2013...

  • Federal Reserve Chair Janet Yellen prepares to speak before a Senate Banking, Housing, and Urban Affairs Committee hearing on the “Semiannual Monetary Policy Report to the Congress” on Capitol Hill in Washington, U.S., February 14, 2017.

    Our live blog tracked as Dow Jones index hit a new all-time high amid investors eyeing Fed minutes.

  • *UK economy expands 0.7 pct in Q4, fastest growth in a year. LONDON, Feb 22- Britain's economy accelerated at the end of 2016 but growth for the whole year was weaker than previously thought and there are signs of weakness ahead, data showed, suggesting the Brexit vote will start to take its toll in 2017.. The pound fell after the figures, which no longer showed Britain as...

  • President Donald Trump's policies, providing another sign that Europe's economy is gaining pace. The Munich- based research institute surveys 7,000 businesses in Europe's biggest economy about their view of how things are right now and how the situation will develop in coming months. The recovery has been supported by large-scale monetary stimulus from...

  • Fmr Greek Fin Min: Greeks need a break

    Former Greek Finance Minister George Papaconstantinou explains why the Greek economy needs “some breathing room”, with comment on pensions.

  • Fmr Fin Min: Will be need for follow up on Greek agreement

    Former Greek Finance Minister George Papaconstantinou takes a look at the economic state of Greece and whether the country is facing a new “Greek crisis”.

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