Archive Europe: Economy

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  • LONDON, July 28- Sterling fell to a two-week low against the euro on Thursday, 3,000 job cuts at British bank Lloyds adding to signs of a worsening economic outlook as investors bet the Bank of England will cut interest rates next week. Since the 14 percent fall in the pound in the hours after the vote to leave the European Union on June 23, sterling has proved more...

  • A digitally-generated image of a woolly mammoth.

    Our live blog is tracking market reaction as U.S. crude extends its losses on fears of oversupply.

  • WASHINGTON— The International Monetary Fund was unprepared for the debt crisis that hit Europe and was slow to press for debt relief that might have eased Greece's economic pain and allowed it to pay its bills, an IMF watchdog says. As part of a so-called troika with the European Commission and the European Central Bank, the IMF bailed out Greece, Ireland and...

  • DUBLIN, July 28- Ireland's economic recovery has been exceptional but is incomplete and now subject to large downside risks after Britain's vote to leave the European Union, the International Monetary Fund said on Thursday. Ireland's economy has bounced back rapidly since it left an IMF aid programme in 2013 but is considered more vulnerable than any other in...

  • Net earnings were $350 million, or 45 cents per share, compared with $281 million or 33 cents per share, a year ago. Thomson Reuters, the parent of Reuters News, competes for financial customers with Bloomberg LP as well as News Corp's Dow Jones unit. Despite volatile markets and uncertainty among financial services clients around the recent surprise vote by...

  • With the U.K. set to leave the EU in the next few years, some businesses may wish to move elsewhere. But can they bet on a warm welcome?

  • *But forecasts worsen for Oman and Bahrain. DUBAI, July 28- Economists have cut growth forecasts for most of the rich oil exporting countries of the Gulf as non-oil business activity slows because of government austerity measures, a quarterly Reuters poll found. Median forecasts for gross domestic product growth this year have been cut for four of the six GCC...

  • FRANKFURT, July 28- The euro zone economy has remained surprising resilient to the shock of Britain's vote to leave the European Union, fresh data showed on Thursday, a big contrast to the UK where signs of widespread economic pain are already apparent. Still, Europe is unlikely to escape unscathed, economists argue. "The stability/resilience in the euro area was...

  • The news and information company reported second quarter net earnings of $350 million, or 45 cents per share, compared with $281 million or 33 cents per share, a year ago. Thomson Reuters, the parent of Reuters News, competes for financial customers with Bloomberg LP as well as News Corp's Dow Jones unit. Despite volatile markets and uncertainty among financial...

  • *Cash impact of two schemes might be comparable. LONDON, July 27- Central banks might inject no more cash into economies by dropping money from aircraft-- whether real or imaginary-- than via well-worn QE schemes, but in breaking a long-standing taboo they may do far more damage to currencies. After decades of zero interest rates and quantitative easing-style asset...

  • LONDON, July 28- Gold rose on Thursday after the Federal Reserve stopped short at this week's policy meeting of indicating that a further increase in U.S. interest rates is on the cards for later this year. Uncertainty over the path of interest rates has held gold in check since it rallied to more than two-year highs in the wake of Britain's shock vote last month to...

  • LONDON, July 28- Gold rose on Thursday after the Federal Reserve stopped short at this week's policy meeting of indicating that a further increase in U.S. interest rates is on the cards for later this year. Uncertainty over the path of interest rates has held gold in check since it rallied to more than two-year highs in the wake of Britain's shock vote last month to...

  • LONDON— For years, Britain bragged about its economic performance, contrasting it with the neighboring eurozone, which was struggling with a series of financial crises and stagnation. A month on from the British vote to leave the European Union, the evidence is getting clearer by the day: the eurozone economy is proving resilient to the uncertainty unleashed by...

  • BNP Paribas beats Street

    CNBC's Nancy Hungerford has the breakdown of European banks Credit Suisse and BNP Paribas' quarterly numbers.

  • BMPS is epitome of the sector’s woes: Axiom

    Gildas Surry, senior analyst at Axiom Alternative Investments, says there could be an issue of contagion in both Italy’s and Europe's financial markets.

  • Stress tests are a good tool: BNP Paribas CFO

    When discussing the upcoming ECB stress tests, BNP Paribas CFO, Lars Machenil says the bank has a diversified approach which makes it resilient to many turbulences.

  • BERLIN— Germany's unemployment rate edged up 0.1 percentage point to 6 percent in July. The Federal Labor Agency said Thursday that 2.661 million people were registered unemployed in Europe's largest economy, about 47,000 more than in June. Compared with the same month a year earlier, there were 112,000 fewer jobless people, reflecting Germany's strong...

  • LONDON, July 28- The dollar fell against the yen on Thursday as expectations faded of the Bank of Japan delivering the radical stimulus package some had expected this week, and after the U.S. Japan's prime minister unveiled a surprisingly large 28 trillion yen stimulus package on Wednesday, putting pressure on the central bank to match it with aggressive...

  • LONDON— Britain's Lloyds Banking Group said Thursday it plans to eliminate 3,000 jobs and close 200 branches— the first big cuts announced since Britain voted to leave the European Union. "Following the EU referendum, the outlook for the U.K. economy is uncertain and, while the precise impact is dependent upon a number of factors including EU negotiations and...

  • MADRID— Spain's unemployment rate dropped to 20 percent in the second quarter from 20.9 percent in the previous three-month period, official figures showed Thursday, offering some positive news for acting Prime Minister Mariano Rajoy as he tries to stay in office following a second inconclusive election last month. The National Statistics Institute said...

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