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Europe: Economy

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  • *Finance Ministry cuts 2014 growth forecast to 1 pct. Also on Monday, the Finance Ministry cut its forecast for 2014 economic growth to 1.0 percent, from 1.4 percent. With commodity prices expected to remain weak well into 2015 and soft demand seen from China and Europe, Thailand's trade and manufacturing sectors are seen dragging on the economy well into next...

  • German central bank chief: cheap oil is stimulus Sunday, 28 Dec 2014 | 7:27 AM ET

    BERLIN— The president of Germany's central bank is questioning the need for the European Central Bank to embark on a new bond-buying program when the continent is being "gifted a stimulus program" by low oil prices. The ECB is considering whether and how to offer more stimulus for the sluggish eurozone economy, perhaps in the form of large-scale purchases of...

  • Greek leftists won't run deficits, policymaker says Saturday, 27 Dec 2014 | 2:38 PM ET

    ATHENS, Greece— A leftist Greek government won't run deficits, but will pursue fiscal consolidation, the main opposition party's chief economy policymaker said Saturday. Of course, yes, but in our way, in a way which places the burden on those who can pay, " John Milios, chief economist for the opposition Syriza Party's Economic Policy Committee, told The Associated...

  • Belarus replaces prime minister, central bank head Saturday, 27 Dec 2014 | 8:11 AM ET

    MINSK, Belarus— Belarus' authoritarian president on Saturday replaced his prime minister, the head of the national bank and an array of other top officials as the country weathers economic troubles. Belarus has retained a Soviet-style command economy to a large degree and concerns are rising that it will suffer from a spillover of the economic crisis in...

  • Germany: Greece must stick to existing agreements Saturday, 27 Dec 2014 | 4:09 AM ET

    BERLIN— Germany's finance minister says any new Greek government would have to stick to agreements made by its predecessors— comments that come as Greece risks early elections that could bring an anti-bailout opposition party to power. German Finance Minister Wolfgang Schaeuble told Saturday's Bild daily that he'll continue to support Greece on its "path...

  • In 2014, US economy began shaky, finished strong Friday, 26 Dec 2014 | 3:41 PM ET

    WASHINGTON— The U.S. economy flexed its old muscles in 2014.. But consumers, businesses and investors, after enduring a brutal winter, showed renewed vigor as the year wore on and set the United States apart from much of the world. All told, the United States remained insulated from the financial struggles surfacing everywhere from Europe and Latin America to...

  • That is the question investors are asking as Wall Street heads into 2015.. Wall Street strategists, who typically are bullish on the U.S. stock market, expect the advance to continue into 2015.. 2014 has been an above average year for stocks, but Wall Street forecasters expect more a more modest year for the market next year.

  • FOREX -Dollar gains in light, post-Christmas trading Friday, 26 Dec 2014 | 10:09 AM ET

    *Japan inflation slows, highlights BOJ's struggles. There's going to be a dip-buying mentality "said Rob Zukowski, senior technical analyst at 4 Cast Ltd. based in New York. Data on Tuesday that showed the U.S. economy growing at its fastest quarterly pace in 11 years underscored the divergence in paths between the world's largest economy and those of Japan and...

  • Spain premier announces modest minimum wage raise Friday, 26 Dec 2014 | 8:54 AM ET

    MADRID— Spain's prime minister has announced minimal increases to the minimum wage and for government-funded pensions and predicted the nation's economy will "take off" in 2015 following years of crushing financial pain. Mariano Rajoy says the monthly minimum wage will rise 0.5 percent to 649 euros and that monthly pension payments will increase 0.25...

  • *Japan inflation slows, highlights BOJ's struggles. Market participants expected it would still take a bit of time for business to resume in full swing, with key markets in the region such Australia, Hong Kong and Singapore closed on Friday. There is no change to our view that the yen will continue to weaken as the recovery in U.S. economic fundamentals, which is at...

  • Shares mostly higher in quiet holiday trading Thursday, 25 Dec 2014 | 10:19 PM ET

    Japan's benchmark edged lower after the government reported lackluster inflation, industrial production and household spending for November. KEEPING SCORE: Japan's Nikkei 225 stock index slipped 0.2 percent to 17,779.18 and Singapore's Straits Times index edged 0.1 percent lower to 3,342.20. JAPAN DATA: Japan's inflation rate eased slightly in...

  • *Japan inflation slows, highlights BOJ's struggles. Market participants expected it would still take a bit of time for business to resume in full swing, with key markets in the region such Australia, Hong Kong and Singapore closed on Friday. There is no change to our view that the yen will continue to weaken as the recovery in U.S. economic fundamentals, which is at...

  • KIEV, Dec 25- Ukraine's parliament gave preliminary approval on Thursday to a law that would simplify tax legislation and impose additional duties on imports, in an effort to raise revenue amid economic crisis. Ukraine's foreign currency reserves have more than halved since the start of the year to a 10- year low, due to gas debt repayments to Russia and efforts...

  • Russia's Putin scraps New Year's holidays for ministers Thursday, 25 Dec 2014 | 7:24 AM ET

    MOSCOW— Russian President Vladimir Putin on Thursday scrapped New Year's holidays for government ministers because of the unfolding economic crisis. Russian company employees throughout the country are entitled to holiday from Jan. 1 to Jan. 12 when Russians celebrate the New Year, the main holiday in Russia, as well as Orthodox Christmas on Jan. 7.

  • How Russia plans to help firms with foreign debts Wednesday, 24 Dec 2014 | 11:13 AM ET
    Military vehicles drive past St. Basil’s Cathedral during a rehearsal for the anniversary of a historical World War II parade in Moscow’s Red Square, Nov. 1, 2014.

    The Russian Central Bank said it will offer dollar and euro loans to banks that put foreign-currency loans to major exporters up as collateral.

  • Cramer: Why market gets better from here  Wednesday, 24 Dec 2014 | 9:04 AM ET

    Is this as good as it gets? CNBC's Jim Cramer explains why he believes the stock market goes higher from here.

  • Russia in offer to help firms with foreign debts Wednesday, 24 Dec 2014 | 5:04 AM ET

    MOSCOW— With inflation showing clear signs of picking up, Russia's central bank said Wednesday it will look to help companies with their foreign debts— a move it hopes will ease the pressure on the national currency. Following on from other measures to stabilize the ruble, such as a big increase in its key interest rate to 17 percent, the Central Bank said it will...

  • US stocks eke out gains in abbreviated trading day Wednesday, 24 Dec 2014 | 12:52 AM ET

    Investors welcomed Labor Department data showing that applications for unemployment benefits fell last week to the lowest level in seven weeks. The news came a day after the Commerce Department estimated that the economy grew in the July-September quarter at the fastest pace in 11 years. "We're still giddy after yesterday's GDP," said Chris Gaffney, a senior...

  • How other economies are struggling as US shines Tuesday, 23 Dec 2014 | 2:57 PM ET

    WASHINGTON— While the U.S. economy grew from July through September at the fastest pace in more than a decade, most other major economies have been struggling. Europe is straining just to grow. Russia foresees a recession next year.

  • Europe shares ends higher after Dow hits 18,000  Tuesday, 23 Dec 2014 | 11:30 AM ET

    European shares closed higher on Tuesday, with an upward revision to U.S. GDP data and record gains on Wall Street boosting sentiment.

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