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  • German court strikes down tax breaks for companies Wednesday, 17 Dec 2014 | 6:18 AM ET

    BERLIN— Germany's highest court has struck down breaks on inheritance tax that benefit companies and ordered the government to come up with new rules. It said the government is entitled to allow small and medium-sized companies tax breaks "to secure their existence and preserve jobs" but told it to come up with new rules by June 2016. The court said 4.3 billion...

  • UK unemployment rate at 6-year low of 6 percent Wednesday, 17 Dec 2014 | 6:04 AM ET

    LONDON— Official figures show Britain's unemployment rate was 6 percent in the three months to October, its lowest level since the 2008 financial crisis. The Office for National Statistics said Wednesday that 1.96 million people were unemployed in the quarter, 63,000 less than the previous quarter. IHS Global Insight analyst Howard Archer was encouraged by...

  • European Commission concerned about Russian economy Wednesday, 17 Dec 2014 | 5:18 AM ET

    BERLIN, Dec 17- The European Commission is worried about recent developments in Russia and has no interest in seeing the country's economy hobbled, a Commission official said on Wednesday. "We are all watching the economic developments in Russia with concern," the official said at a briefing in Berlin ahead of a summit of European Union leaders that starts on...

  • FOREX-Dollar pulls away from lows as it awaits the Fed Wednesday, 17 Dec 2014 | 4:24 AM ET

    LONDON, Dec 17- The dollar edged higher on Wednesday after falling the previous day, when a Russian currency crisis took hold and speculation grew that the Federal Reserve might take a more cautious tone on monetary policy. After skidding oil prices helped Russia's rouble to plunge as much as 25 percent on Tuesday, an uneasy calm took hold, as Russia's finance...

  • Could Greece leave the euro?  Wednesday, 17 Dec 2014 | 4:20 AM ET

    Ahead of Greece's MPs holding a presidential vote today, Miranda Xafa, president of EF Consulting & the former IMF deputy executive director comments on Greece's possibility of leaving the euro if its next government messes up negotiations with the Troika.

  • Fed pondering change in rate hike signals Wednesday, 17 Dec 2014 | 3:01 AM ET

    WASHINGTON— The U.S. economy is finally doing better, and the Federal Reserve may be ready to acknowledge that fact. It would be the first rate increase since June 2006. In addition to issuing its usual policy statement to close out its final meeting of the year, the Fed will update its economic forecast and Fed Chair Janet Yellen will hold a news conference.

  • Greece in a 'national crisis': Business group  Wednesday, 17 Dec 2014 | 2:00 AM ET

    Speaking ahead of the first round of voting in the Greek presidential election, Konstantinos Michalos, president of the Athens Chamber of Commerce and Industry, says the country is facing a "national crisis" and needs a "national coalition" of the major political parties.

  • TOKYO, Dec 17- Japan's exports grew for a third straight month in November from a year earlier, but much more slowly than expected and despite a sharp fall in the yen as slowing demand in Asia and Europe dampened trade. "Exports to Asia and Europe were weak. "I still expect shipments to remain firm as the U.S. economy continues to help spur output in Asia and Japan.

  • Russia's sinking economy becoming a global threat Tuesday, 16 Dec 2014 | 4:57 PM ET

    With economies in Europe, Japan, China and Latin America already ailing, fresh threats have emerged from Russia's shriveled currency, its move to dramatically boost interest rates, the damage from plummeting oil prices and Western sanctions over Russia's action in Ukraine. The alarming 10 percent drop in the ruble over the past two days has amplified the...

  • NEW YORK, Dec 16- The U.S. dollar slipped against major currencies on Tuesday on expectations that the Federal Reserve would take a cautious tone on monetary policy, while a slide in oil prices pushed the Russian rouble to new lows and boosted the safe-haven yen. "That the FOMC sounds dovish either in the statement or the press conference is certainly a risk to the...

  • PARIS, Dec 16- There is a broad consensus on the European Central Bank's governing council in favor of more action to revive the economy and a decision on what tools to use could come soon, Executive Board member Benoit Coeure said in an interview published on Tuesday. The size of the ECB's balance sheet is important as a signal of its determination to act, he said, but "...

  • Late day comeback in Europe  Tuesday, 16 Dec 2014 | 1:11 PM ET

    CNBC's Seema Mody finds Europe's biggest winners and losers in today's trade.

  • Swedish banks happy with 0% rate  Tuesday, 16 Dec 2014 | 11:40 AM ET

    With the Swedish Central Bank leaving its rates at 0%, Stefan Ingves, governor of Riksbank said that until the latter part of 2016, rates can be kept at 0%.

  • "Oil plunging... is causing volatility in currencies and causing people to take profit in the dollar," said Alan Ruskin, global head of currency strategy at Deutsche Bank in New York. The threat that tumbling oil prices pose to Russia's economy, along with the Russian central bank's failure to halt the currency's plunge through an emergency rate hike, led the Russian...

  • MOSCOW, Dec 16- The rouble plunged more than 11 percent against the dollar on Tuesday in its steepest intraday fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual rate hike. It has now fallen close to 20 percent this week, taking its losses this year against the dollar to more than 50 percent and...

  • MOSCOW, Dec 16- The rouble plunged more than 11 percent against the dollar on Tuesday in its steepest intraday fall since the Russian financial crisis in 1998 as confidence in the central bank evaporated after an ineffectual rate hike. It has now fallen close to 20 percent this week, taking its losses this year against the dollar to over 50 percent and raising...

  • EU promises Greece 'lighter surveillance' Tuesday, 16 Dec 2014 | 7:23 AM ET

    ATHENS, Greece— Greece is on course to end a draconian bailout program in February and switch to "much lighter surveillance," European Union Finance Commissioner Pierre Moscovici said Tuesday. Greece has been given a two-month extension to conclude bailout program negotiations after weeks of deadlocked talks on new cost-cutting measures demanded by the "...

  • Russia's "difficult" rate hike approved by Putin Tuesday, 16 Dec 2014 | 7:12 AM ET

    *Central Bank governor under pressure. MOSCOW, Dec 16- Late on Monday night Russia's central bank governor wrung out an agreement with her officials to impose the country's biggest rate hike since the financial crisis of 1998-- with the approval of President Vladimir Putin. His ratings are at an all-time high following the annexation of Ukraine's Crimea, but...

  • Europe's false sense of security  Tuesday, 16 Dec 2014 | 6:40 AM ET

    Mark Grant, Southwest Securities, shares his outlook on Europe's economy and its impact on the U.S. as oil continues to fall. We're in for a bumpy ride, cautions Grant.

  • *Russia central bank shocks markets with massive rate hike. LONDON/ SYDNEY, Dec 16- The global economy is ending the year in a fragile state with factory activity shrinking in China, euro zone business growth remaining weak, and emerging market giant Russia in a spiraling currency crisis. Poor to mediocre business surveys in Asia and Europe released on Tuesday are...

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