Europe: Economy


  • The Markit/ CIPS UK Manufacturing Purchasing Managers' Index released on Wednesday fell to 51.6, its lowest level since April last year and below a consensus forecast of 52.5 in a Reuters poll of economists. August's reading was revised down to 52.2 from a previous estimate of 52.5, Markit said.

  • France's Socialists detail hefty spending cuts Wednesday, 1 Oct 2014 | 4:17 AM ET

    PARIS— France's Socialist government has detailed a 21 billion-euro cost-cutting plan, the biggest in the country's modern history, saying it will focus on trimming welfare benefits.

  • As economic news picks up, markets drift Wednesday, 1 Oct 2014 | 3:55 AM ET

    KEEPING SCORE: In Europe, Germany's DAX fell 0.5 percent to 9,426 while the CAC-40 in France fell 0.9 percent to 4,378. The FTSE 100 of leading British shares was 0.8 percent lower at 6,567. Wall Street looked set modest declines at the open, with both Dow futures and the broader S&P 500 futures down 0.2 percent.

  • Only a weaker euro can help Europe: Pro     Wednesday, 1 Oct 2014 | 3:00 AM ET

    Bill Blain, strategist from Mint Partners, says only a weaker euro will be able to help the euro zone economy improve.

  • BUCHAREST, Sept 30- Romania's central bank cut its benchmark interest rate to a new record low of 3 percent on Tuesday, as benign inflation gave it room to help an economy that has dipped into recession.

  • NEW YORK, Sept 30- The dollar surged on Tuesday after data showed inflation in the euro zone barely rose in September, with the U.S. currency on track for its biggest quarterly gain in six years, while world stock markets headed to their largest quarterly drop in more than two years.

  • *Euro STOXX 50 index rises 0.5 pct. LONDON, Sept 30- Euro zone shares rose on Tuesday as a batch of weak inflation data increased the chances the European Central Bank will introduce new stimulus measures to boost the region's flagging economy.

  • *Euro slips below $1.26 for 1st time in 2 years. LONDON, Sept 30- The dollar surged to a four-year high against a basket of currencies and a two-year high against the euro on Tuesday after euro zone inflation fell in September, putting the greenback on track for its best quarter in six years.

  • *Monthly headline rate down to 0.3 percent year-on-year. BRUSSELS, Sept 30- Euro zone inflation slowed further in September on falling prices of unprocessed food and energy, a first estimate showed on Tuesday, sending the euro lower against the dollar on expectations of further European Central Bank policy easing.

  • LONDON, Sept 30- European shares rose on Tuesday, as another batch of weak euro zone inflation data raised the prospect of new stimulus measures from the European Central Bank to boost the region's flagging economy.

  • EU says Apple gets illegal tax benefits in Ireland Tuesday, 30 Sep 2014 | 6:13 AM ET

    BRUSSELS— Apple risks having to repay Ireland tax rebates worth billions of dollars after the European Union's competition watchdog said Tuesday the company appears to be benefiting from illegal tax deals there.

  • UK revises up Q2 economic growth to 0.9 percent Tuesday, 30 Sep 2014 | 5:56 AM ET

    LONDON— The U.K. economy grew faster in the second quarter than previously estimated, with official figures revising up the quarter-on-quarter growth rate by 0.1 percentage points to 0.9 percent.

  • ECB under pressure as inflation falls again Tuesday, 30 Sep 2014 | 5:01 AM ET

    LONDON— Inflation across the 18 euro countries dipped further toward zero in September, piling pressure on the European Central Bank to pull the trigger on its biggest stimulus weapon— a large-scale program to create new money.

  • German jobless rate down to 6.5 percent Tuesday, 30 Sep 2014 | 4:52 AM ET

    BERLIN— Germany's unemployment rate dipped to 6.5 percent in September as hiring picked up after the summer break. The Federal Labor Agency said Tuesday the unadjusted jobless rate fell from 6.7 percent in August, with 2.808 million people registered unemployed.

  • BERLIN, Sept 30- German joblessness increased unexpectedly in September but the jobless rate remained low and a surge in August retail sales offered hope that private consumption can help prop up Europe's largest economy in the third quarter.

  • Stocks slip, leaving S&P 500 down for September Tuesday, 30 Sep 2014 | 4:20 AM ET

    NEW YORK— A suddenly stormy month on the stock market came to a quiet end on Tuesday. Ford Motor fell after cutting its profit forecast, while eBay jumped after announcing plans to spin off PayPal.

  • German unemployment unexpectedly rises in September Tuesday, 30 Sep 2014 | 4:00 AM ET

    BERLIN, Sept 30- German joblessness unexpectedly increased in September, the Labor Office said on Tuesday, in a further sign that Europe's largest economy remains subdued after contracting in the second quarter. The number of people out of work increased by 13,000 to 2.918 million, seasonally-adjusted data showed.

  • RBS shares jump on improved economic outlook Tuesday, 30 Sep 2014 | 3:37 AM ET

    Royal Bank of Scotland will release £800 million from provisions it had set aside to cover losses on bad loans.

  • *RBS says to release 500 mln stg in provisions from "bad bank". LONDON, Sept 30- State-backed Royal Bank of Scotland will release 800 million pounds from provisions it had set aside to cover losses on bad loans after an improvement in economic conditions, especially in Ireland.

  • ECB QE 'on the cards': Piraeus Bank CEO     Tuesday, 30 Sep 2014 | 1:30 AM ET

    Anthimos Thomopoulos, CEO of Piraeus Bank, says the quantitative easing from the ECB is "on the cards" but the central bank should not engage in a currency war.

Contact Europe: Economy


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