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Europe: Economy

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  • *Michelin and Unilever fall, flagging weak EM demand. EDINBURGH, Oct 23- European stocks fell on Thursday, hindered by weak corporate results from companies including French tyre-maker Michelin, despite receiving support from better-than-expected euro zone business activity data. Michelin and Unilever cited poor demand from emerging markets as the former...

  • Swedish government ups taxes, spending Thursday, 23 Oct 2014 | 6:27 AM ET

    STOCKHOLM— Sweden's left-leaning government has proposed raising taxes and welfare benefits and boosting military spending in its first budget bill since taking office after last month's election. That would reverse many reforms by the previous center-right government, which had trimmed Sweden's famously high taxes. Prime Minister Stefan Lofven's...

  • European authorities aim to purge weak banks Thursday, 23 Oct 2014 | 6:22 AM ET

    FRANKFURT, Germany— Europe's biggest banks are facing a day of judgment as the European Central Bank prepares to unveil the results of a yearlong search through the dark corners of their finances. It's a step that comes none too soon for the struggling economy of the 18- country eurozone. The ECB becomes Europe's top banking supervisor in November, taking over...

  • *Gold extends losses after drop overnight. LONDON, Oct 23- Gold prices eased on Thursday as better-than-expected euro zone business activity data lifted stock markets from early lows, while the dollar index held near its highest in a week and demand for the physical metal softened. Spot gold was down 0.1 percent at $1,239.50 an ounce at 0936 GMT, while U.S. gold...

  • QE a 'tool on the table' for ECB: GSAM's Koch     Thursday, 23 Oct 2014 | 5:05 AM ET

    Katie Koch, head of global portfolio solutions at Goldman Sachs Asset Management, says she expects the European Central Bank to carry out full blown quantitative easing.

  • LONDON, Oct 23- The euro recovered from a two-week low against the dollar on Thursday after data showed euro zone business growth unexpectedly picked up in October, though gains could be fleeting amid continued expectations of more monetary easing. The euro rose to $1.2662, rebounding from a two-week low of $1.2614 hit after data showed France's preliminary...

  • Eurozone survey rise does not ease recession fears Thursday, 23 Oct 2014 | 4:33 AM ET

    LONDON— A stronger than anticipated economic survey Thursday failed to inspire much optimism in European markets amid ongoing worries over the state of the 18- country eurozone and of France in particular. A broad survey of activity in the manufacturing and services sectors by financial information company Markit rose unexpectedly in October.

  • *PMIs suggest Q3 economic growth of 0.3 pct- Markit. Markit's Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies across the region and seen as a good indicator of growth, rose to 52.2, above all forecasts in a Reuters poll. Most worrying is the decline in new orders, "said Chris Williamson, chief economist at data collator Markit.

  • Spanish jobless figure drops as economy picks up Thursday, 23 Oct 2014 | 3:32 AM ET

    MADRID— Spain's unemployment rate dropped to 23.7 percent in the third quarter from 24.5 percent in the previous three-month period thanks to a recovering economy and a bumper summer tourism season, official statistics showed Thursday. The number of jobless people fell by 195,200 July through September, leaving the total number of unemployed at a rounded...

  • Unilever: prices falling in Europe, China weak Thursday, 23 Oct 2014 | 3:05 AM ET

    AMSTERDAM— Unilever PLC, the maker of consumer products including Dove soaps, Lipton teas and Ben& Jerry's ice cream, says it saw price deflation in Europe's largest markets in the third quarter. The company said it saw price deflation in many markets across Europe, including Germany, France and Britain. Unilever said growth is slowing in emerging markets.

  • Asia stocks, US futures dented by NY Ebola case Thursday, 23 Oct 2014 | 1:58 AM ET

    NEW YORK— A combination of strong company earnings and encouraging economic reports, both in the U.S. and Europe, gave the stock market another day of solid gains on Thursday. Caterpillar jumped after its third-quarter earnings report was better than Wall Street analysts had been expecting. 3 M, the maker of Post-it notes, industrial coatings and ceramics, was...

  • How will European banks fare in stress test?     Thursday, 23 Oct 2014 | 12:42 AM ET

    Antonio Timoner-Salva, Senior Economist at IHS, expects at least 10 of the 130 banks to fail the European Central Bank's assessment and related stress tests.

  • Japan's Nikkei share average fell 0.5 percent while MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.2 percent. The flash HSBC/ Markit manufacturing purchasing managers' index edged up to a three-month high of 50.4 from a final reading of 50.2 in September, and just a hair's breadth from the 50.3 reading forecast by analysts.

  • SINGAPORE, Oct 23- Gold steadied above $1,240 an ounce on Thursday after dipping overnight on a stronger dollar, but caution prevailed ahead of a host of global economic data and on further outflows from bullion funds. *Spot gold was little changed at $1,241.60 an ounce by 0045 GMT, after losing 0.7 percent in the previous session. *Investors will be eyeing data from...

  • DIARY - Top economic Events to Nov 4 Wednesday, 22 Oct 2014 | 8:01 PM ET

    Treasury Under Secretary David Cohen speaks on "Disrupting ISIL's Money Trail" before the Carnegie Endowment for International Peace in Washington- 1400 GMT. LONDON- Bank of England Deputy Governor Ben Broadbent gives a speech on monetary policy outlook to Society of Business Economists- 0805 GMT. OTTAWA- Bank of Canada Governor Stephen Poloz and Senior...

  • Goldman exec: Mixed earnings reflect the economy Wednesday, 22 Oct 2014 | 11:54 AM ET
    Gary Cohn, Goldman Sachs

    Goldman Sachs president and COO Gary Cohn discusses how mixed earnings reflect the broader economy and prospects for U.S. growth.

  • Sept CPI slightly above forecast, gives dollar added boost. NEW YORK, Oct 22- The U.S. dollar extended broad-based gains on Wednesday after marginally higher-than-expected U.S. inflation data coupled with earlier concerns over European banks sent the greenback to one-week highs against the euro. The sharp drop in U.S. yields last week was driven by fears of a...

  • EDINBURGH, Oct 22- European shares nudged higher on Wednesday, supported by a raft of positive corporate earnings and mild inflation data from the United States which may encourage the U.S. However, the session was volatile, with euro zone banks under pressure after Spain's Efe news agency reported that several European lenders might fail EU bank stress tests.

  • NEW YORK, Oct 22- U.S. The U.S. Labor Department said its Consumer Price Index, the government's broadest inflation gauge, edged up 0.1 percent last month after falling 0.2 percent in August. "Given the anxious environment we are in, this report came as a bit of a balm," said Com Crocker, managing director of government and agency securities trading at Mesirow Financial...

  • Hungary planning onerous tax on Internet use Wednesday, 22 Oct 2014 | 7:04 AM ET

    BUDAPEST, Hungary— Hungarian Internet users, activist groups and opposition parties are rejecting a government plan to impose a heavy tax on Internet use from next year. Opposition parties on Wednesday called on the government to scrap the plan, while Hungary's Information and Communication Technology Association said the tax would lead to a fall in...

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