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Europe: Economy

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  • *GDP down 4.2 pct year on year in June. MOSCOW, July 28- The sharp decline in Russia's economy may have almost run its course, official data showed on Tuesday, slowed by a huge devaluation of the rouble and heavy government spending on anti-crisis measures. The economy has slumped as a result of Western sanctions linked to the Ukraine conflict and last year's...

  • LONDON— Britain's economy picked up speed in the second quarter of 2015, when it expanded by 0.7 percent compared with the previous three-month period. The Office of National Statistics said Tuesday that the economic growth in the April-June period accelerated from a rate of 0.4 percent in the previous quarter. Chris Williamson, analyst at Markit.com, says...

  • ATHENS, Greece— Greece pushed ahead with talks on a new rescue loan Tuesday, but its government came under increasing pressure over claims it had a top-secret plan to prepare for a euro exit that involved accessing citizens' personal tax data. The talks in Athens aim to thrash out the terms of the deal— worth about 85 billion euros over three years— before Aug. 20, when...

  • On Tuesday's Squawk Box Live we kept an eye on markets as Asian equities saw volatile trade on the back of a China stock rout.

  • GDP shows UK is back on track: Pro

    U.K.'s second quarter GDP came in at 0.7% quarter-on-quarter, meeting expectations. Elizabeth Martins, chief UK economist at HSBC, reacts.

  • Management shakeup: Catalyst for investment?

    Philippe Bodereau, MD & global head of financial research at Pimco, reveals whether earnings and new management roles have made him more bullish on European banks.

  • MOSCOW, July 28- Russia's gross domestic product shrank by 4.2 percent in June from a year earlier but the contraction was shallower than May's revised 4.8 percent fall, adding to signs the economy may have started to stabilise. Russia's growth prospects deteriorated sharply midway through last year, when an existing slowdown was compounded by Western...

  • SYDNEY- Reserve Bank of Australia Governor Glenn Stevens speaks at the Boao Forum for Asia Financial Cooperation Conference, hosted by the New South Wales government- 0030 GMT. KYOTO- Bank of Japan board member Koji Ishida speaks to business leaders in Kyoto- 0130 GMT. LONDON- Bank of England holds Monetary Policy Committee meeting.

  • Yanis Varoufakis defends ‘Plan B’ tax hack Monday, 27 Jul 2015 | 5:24 PM ET
    Former Greek Finance Minister Yanis Varoufakis.

    Greek Finance Minister Yanis Varoufakis insists he did nothing wrong running a secret project over a possible Grexit, The Financial Times reports.

  • BERLIN— Kazakhstan is set to become the 162nd member of the World Trade Organization after the Geneva- based body formally approved the country's membership Monday. The largest former Soviet republic in Central Asia is rich in natural resources and a key transit country for goods between Asia and Europe. Kazakhstan, which has suffered from the economic...

  • WASHINGTON— The Federal Reserve is getting close to raising interest rates for the first time in nearly a decade, perhaps in September. "Our economy is in a much better state," Yellen told Congress earlier this month. The economy still faces an array of threats, from subpar U.S. manufacturing and business investment to troubles in Europe and Asia, which have roiled...

  • *Cool economic winds blow in from China. BRUSSELS/ FRANKFURT, July 27- The International Monetary Fund warned on Monday that the euro zone's prospects were modest and that more money printing than planned may be needed. Worries about the global economy, prompted by a slowdown in China where shares slid more than 8 percent on Monday, are weighing on many countries in...

  • China stocks volatile after big fall, Hong Kong rises Monday, 27 Jul 2015 | 10:11 AM ET

    NEW YORK— The worst drop in China's stock market in eight years helped drag down other markets around the world Monday. Faced with a drop in stock prices in Asia, Europe and the U.S., investors moved into traditional safe havens. "There remain very few buyers out there and there are some growing concerns that we're looking at a slowdown in global economic growth," said...

  • ATHENS, Greece— Cyprus' creditors say the bailed-out country is on the path to economic recovery after years of recession but that it needs to follow through on structural reforms to lock in progress made and keep growth on an upward trajectory. The European Union and the International Monetary Fund said Monday the fiscal targets for the first half of 2015 have...

  • BUCHAREST, Romania— Romania's center-left ruling party will recall Parliament from its summer recess to vote on a redrafted series of tax cuts after the president refused to pass the previous proposals into law. Acting chairman of the governing Social Democratic Party, Liviu Dragnea, said Monday that Parliament would debate and vote on the new measures on Aug...

  • BRUSSELS/ ATHENS, July 27- Talks between Greece and its international creditors on a third bailout began in Athens on Monday but the lenders want to see more reforms turned into law before they disburse the first loans to keep the near-bankrupt country afloat. The government of Prime Minister Alexis Tsipras has pushed two packages of measures through...

  • NORTH KINGSTOWN, R.I.— Construction has begun off Rhode Island's coast on the nation's first offshore wind farm, a milestone that federal and state officials say will help the fledgling U.S. industry surge ahead. Secretary of the Interior Sally Jewell said Monday that lenders, regulators and stakeholders can now see a path forward. Deepwater Wind is building a...

  • *July 28-29 Fed meeting eyed as dollar sags. LONDON, July 27- The euro hit a four-month peak against the Swiss franc and a two-week high against a subdued dollar on Monday, after Germany's Ifo survey for July beat forecasts and painted an upbeat picture of Europe's largest economy. The euro rose 1.2 percent to $1.1113, from about $1.1084 before the Ifo survey was...

  • Finance Minister Euclid Tsakalotos said late Monday that meetings in Athens had begun between Greek officials and negotiating teams representing creditors, with talks to intensify Tuesday, paving the way for higher level discussions possibly by the end of the week. Before the talks started in Athens, a recording of Varoufakis discussing a parallel...

  • *Iran deal likely boosted industry expectations-economist. BERLIN, July 27- Business confidence in Germany unexpectedly improved in July after two monthly drops as an agreement between Greece and its creditors for talks on a third bailout lifted the mood at firms in Europe's largest economy. Ifo president Hans-Werner Sinn said the easing of the crisis had...

Contact Europe: Economy

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