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Europe: Economy


  • DRESDEN, Germany, May 29- The United States warned on Friday of a possible accident for the world economy if Greece and its creditors miss their June deadlines to avert a debt default. With Athens struggling to make repayments due next month, the debt stand-off between Greece and its European Union partners overshadowed a meeting of policymakers from the Group...

  • BRASILIA, May 29- Brazil's economy shrank 0.2 percent in the first quarter, setting the stage for a likely recession this year as companies slash investments and leftist President Dilma Rousseff tries to atone for policy missteps from her first term in office. Brazil's short-term interest rate futures rose early Friday as traders bet the economy's relative...

  • DRESDEN, Germany, May 29- Greece and its creditors need to quickly agree on a broad deal to address the Greek debt crisis and then work out the details before Athens hits deadlines for repayments, U.S. Greece and its creditors from the euro zone countries and the International Monetary Fund are trying to hammer out a cash-for-reforms deal that would prevent the...

  • BEIJING, May 29- China's central bank said on Friday it wants to see a "healthy" stock market, a day after surging Chinese shares slumped 6 percent in record trading volume as investors fled tighter borrowing rules. In its 2015 financial stability report, the People's Bank of China warned of a slowing economy and rising debt levels, but repeated its vow to deepen...

  • DRESDEN, Germany— Finance ministers from the Group of Seven wealthy democracies heard a sharp call from U.S. Treasury Secretary Jacob Lew to find agreement on more financial help for Greece. Finance ministers and central bankers from the Group of Seven, or G-7, on Friday were wrapping up three days of debate and discussion, where the official topic was not Greece...

  • Greek people want a deal: Gallo   Friday, 29 May 2015 | 4:00 AM ET
    Greek people want a deal: Gallo

    Alberto Gallo, head of macro credit research at RBS, explains why one missed IMF payment doesn't mean a Grexit.

  • Can German shoppers save the euro zone? Friday, 29 May 2015 | 3:04 AM ET
    Woman holding shopping bags in mall

    German consumers are now more optimistic since the GfK research group started compiling its forward-looking consumer confidence index in the 1990s.

  • LONDON— Ongoing uncertainty over the state of Greek bailout talks and further market volatility in China kept stocks in check on Friday. KEEPING SCORE: In Europe, France's CAC-40 was down 1 percent at 5,087 while Germany's DAX was down the same rate at 11,562. The FTSE 100 index of leading British shares bucked the trend in Europe, trading 0.2 percent higher at...

  • German retail sales rebound in April Friday, 29 May 2015 | 2:24 AM ET

    BERLIN, May 29- German retail sales rebounded more strongly than expected in April, in a sign that private consumption will remain a growth driver for Europe's largest economy this year despite some weakness in the first quarter. Retail sales, a notoriously volatile indicator that is often subject to large revisions, rose by 1.7 percent on the month in real terms,...

  • Greece grab headlines at G7 talks   Thursday, 28 May 2015 | 6:34 PM ET
    Greece grab headlines at G7 talks

    On the second day of a three-day summit in Dresden, Greece's unresolved crisis remain a key concern among G7 finance ministers. CNBC's Steve Sedgwick reports.

  • UPDATE 2-Greek crisis overshadows G7 growth talks Thursday, 28 May 2015 | 5:36 PM ET

    DRESDEN, Germany, May 28- The head of the International Monetary Fund warned that Greece could fall out of the euro zone as it struggled to sort out its debt stand-off, which is adding to concern about the patchiness of global economic recovery. Greece was not officially on the agenda of the Group of Seven meeting on Thursday in a former palace in the eastern Germany...

  • Europe shares close mostly lower; Greek hopes fade   Thursday, 28 May 2015 | 11:30 AM ET
    Europe shares close mostly lower; Greek hopes fade

    European equities closed flat to lower on Thursday, as hopes faded that a reforms-for-aid deal between Greece and its lenders was getting nearer.

  • Greece: Investors prepare for the worst?   Thursday, 28 May 2015 | 11:00 AM ET
    Greece: Investors prepare for the worst?

    Peter Rosenstreich, chief FX analyst at Swissquote Bank, explains why he thinks the market is finding the Greece deal situation "numbing" right now.

  • *Greece expected to make June 5 payment despite threats. The government is talking up chances of an aid-for-reform agreement before a roughly 300 million euro payment falls due on June 5 to the International Monetary Fund, which along with the euro zone funds Greece. Even if Greece did miss an IMF payment, the consequences need not be immediately catastrophic,...

  • NEW YORK— U.S. stocks fell slightly Thursday, following a sell-off in the Chinese market and continued worries about the approaching debt payment deadline for cash-starved Greece. In corporate news, chipmakers Avago Technologies and Broadcom agreed to merge in a $37 billion deal. Both stocks had jumped sharply Wednesday— Broadcom by 22 percent and Avago by 8...

  • DRESDEN, Germany— Economic growth that's not as strong as everyone would like. A potential financial blowup in Greece. Those were three of the most pressing topics hanging over top finance officials from the Group of Seven wealthy democracies at their gathering in Dresden, Germany.

  • *Avago rises after agreeing to buy Broadcom for $37 bln. *Abercrombie& Fitch rises after positive forecast. Initial claims for state unemployment benefits rose by 7,000 to a seasonally adjusted 282,000 for the week ended May 23, the Labor Department said on Thursday.

  • LONDON, May 28- The European Central Bank said on Thursday that record low interest rates were putting insurance firms and banks under increasing pressure and warned that any sell-off in stocks and bonds could damage the euro zone's recovery. In its twice-yearly Financial Stability Review, the ECB also said risks from Greece for the euro zone's governments...

  • ECB expects Greece to stay in EU   Thursday, 28 May 2015 | 7:30 AM ET
    ECB expects Greece to stay in EU

    Vitor Constancio, vice-president of the European Central Bank, says that he is still convinced that the worst case scenario of a Greek exit from the euro zone will not happen.

  • Expect 'turbulence' if no Greek deal: ECB   Thursday, 28 May 2015 | 7:30 AM ET
    Expect 'turbulence' if no Greek deal: ECB

    Vitor Constancio, vice-president of the European Central Bank, says that market "turbulence may ensue" if an agreement isn't reached with Greece in a short time span.

Contact Europe: Economy


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