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Europe: Economy

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  • *Oil regains some lost ground ahead of OPEC meeting. NEW YORK, Nov 24- U.S. stocks opened higher on Monday, extending a global equity rally in Asia and Europe fueled by merger activity and signals that central banks were willing to step further into the economic breach to support growth and inflation. European Central Bank President Mario Draghi also looked to be...

  • *Euro STOXX 50 up 0.8 pct, eyes biggest 2- day rise in 19 months. After European Central Bank chief Mario Draghi promised on Friday to use whatever means necessary to raise inflation, investors were betting the ECB would soon unveil new measures, possibly including government bond purchases. The euro zone Euro STOXX 50 index was up 0.8 percent at 3,220.50 points at...

  • ECB official calls for gov't action to help growth Monday, 24 Nov 2014 | 8:33 AM ET

    FRANKFURT, Germany— A member of the European Central Bank's rate-setting council has said monetary policy cannot boost long-term growth and called for reforms by governments to make the weak economy more investment-friendly. Jens Weidmann said in the text of a speech in Madrid on Monday that low interest rates and stimulus measures can boost short-term...

  • UN labor organization sees dark picture for Greece Monday, 24 Nov 2014 | 8:07 AM ET

    ATHENS, Greece— Greece may be exiting a cruel six-year recession, but it will take at least 20 years for employment to regain pre-crisis levels without concerted action, the United Nations' labor organization says. ILO research department head Raymond Torres outlined the proposals in a new ILO report presented in Athens on Monday. Greece nearly went bankrupt in...

  • LONDON, Nov 24- The euro inched up against the dollar on Monday after a stronger-than-expected German business survey offered some respite, though it stayed close to a two-year low on bets of more easing in the euro zone. On Friday European Central Bank chief Mario Draghi threw the door open for more drastic measures as he stressed that "excessively low" inflation...

  • Greece, creditors look to revive bailout review Monday, 24 Nov 2014 | 5:39 AM ET

    Greece disagrees with its debt inspectors— the International Monetary Fund, European Commission and European Central Bank, known as the troika— on the economic outlook and whether more reforms are needed. Greece insists that, contrary to what the troika believes, it will have no financing gap next year. Hammered by a financial crisis caused by years of...

  • *Athens wants to conclude review so it can exit bailout. ATHENS, Nov 24- Greece's government will resume stalled talks with EU/IMF lenders in Paris on Tuesday, as Athens pushes to conclude a crucial review by inspectors so it can make an early exit to an unpopular bailout programme. But talks floundered over a projected budget gap for next year and EU/IMF...

  • *Sources say China ready to ease further after rate cut. LONDON, Nov 24- World stock markets ground their way higher on Monday after a frenetic round of activity at central banks in Asia and Europe showed they are willing to do more to support economic growth and higher inflation. European Central Bank chief Mario Draghi also looked to be clearing the way for the...

  • UPDATE 1-German business morale rebounds in November Monday, 24 Nov 2014 | 4:36 AM ET

    BERLIN, Nov 24- German business sentiment rebounded in November, breaking a streak of six straight declines, in a sign that Europe's largest economy may be gaining some momentum again after narrowly avoiding a recession in the third quarter. The Ifo's business climate index, based on a monthly survey of some 7,000 firms, rose to 104.7 from 103.2 in the previous...

  • US stocks inch further into record territory Monday, 24 Nov 2014 | 4:22 AM ET

    The rally has been driven by optimism that central banks in Europe, China and Japan will take action to help invigorate economic growth outside the U.S., after the Federal Reserve ended its bond-buying stimulus program last month. "You clearly have momentum favoring stocks right now," said Russ Koesterich, chief investment strategist at Blackrock.

  • German business confidence up after long decline Monday, 24 Nov 2014 | 4:15 AM ET

    BERLIN— A closely-watched survey shows German business confidence rose in November, putting an end to six consecutive months of declines. The German economy has been held back by slower demand in key export market China, and by worries about the conflict between Russia and Ukraine. Germany's economy shrank 0.1 percent in the second quarter but returned to...

  • German business morale rebounds in November Monday, 24 Nov 2014 | 4:06 AM ET

    BERLIN, Nov 24- German business sentiment rebounded in November, breaking a streak of six straight declines, in a sign Europe's largest economy is gaining momentum again after narrowly avoiding a recession in the third quarter. The Ifo's business climate index, based on a monthly survey of some 7,000 firms, rose to 104.7 from 103.2 in the previous month, the Munich-...

  • Holger Schmieding, chief economist at Berenberg Bank, talks about Germany's IFO Business Climate Index for November, saying that having "positive German numbers" is a turnaround that both the country and Europe needs.

  • LONDON, Nov 24- The euro flirted with a two-year trough against the dollar on Monday as investors bet the European Central Bank would ease monetary policy more aggressively to ward off deflation in the stuttering euro zone. Draghi's comments saw the euro lose more than 1.2 percent on Friday- its biggest daily fall in 2-1/ 2 months- and it dropped further in early...

  • Asian stocks gain after China rate cut Sunday, 23 Nov 2014 | 11:00 PM ET

    BEIJING— Asian stocks rose Monday after China's surprise interest rate cut as investors looked ahead to European inflation data due out this week and OPEC meeting to discuss oil production levels. KEEPING SCORE: China's Shanghai Composite Index jumped 1.7 percent to 2,529.83 points and Hong Kong's Hang Seng surged 1.8 percent to 23,862.69.

  • SYDNEY, Nov 24- London Metal Exchange metals eased on Monday, paring gains sparked by China's first rate cut in two years, as the prospect of sputtering growth in the world's top metals consumer cast doubts over the strength of its metals demand. *European Central Bank President Mario Draghi threw the door wide open on Friday for more drastic measures to prevent...

  • SINGAPORE, Nov 24- U.S. crude futures steadied above $76 a barrel on Monday, clinging to gains from the previous session after a rally spurred by China's first interest rate cut in more than two years. *Friday's surprise cut in China's interest rates reflects a change of course by Beijing and the central bank, which had persisted with modest stimulus measures...

  • LONDON, Nov 23- European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in the $13 trillion euro zone economy. A sickly Europe has held back global economic growth for years, and now it is contributing significantly to powerful forces already...

  • PARIS, Nov 23- The countdown has begun to what threatens to be a missed opportunity to revive Europe's stalled economy. Treasury Secretary Larry Summers says Europe risks "secular stagnation"- a long-term, self-perpetuating slump similar to the one that followed the Great Depression in the 1930 s. France's economy is flatlining, Italy's has fallen back into...

  • MINSK, Nov 22- Belarus has cut its 2015 economic growth forecast to 0.2-0.7 percent from the previous 2.0 percent because of the economic slowdown in Russia, state news agency Belta quoted Economy Minister Nikolai Snopkov as saying. In recent years, Belarus has received tens of billions of dollars in loans and rebates for energy prices from Russia, hit this year...

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