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Europe: Economy

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  • How the Dow Jones industrial average did Thursday Thursday, 23 Oct 2014 | 4:51 PM ET

    The stock market got a boost Thursday from a combination of strong corporate earnings and encouraging economic reports. Caterpillar and 3 M were among the companies posting results that impressed investors. Hiring in the U.S. remains solid and a survey of businesses in Europe suggested that the region may avoid slipping back into recession.

  • EU tells Britain to pay extra €2.1 billion Thursday, 23 Oct 2014 | 3:25 PM ET
    British Prime Minister David Cameron

    Britain has been told to pay an extra €2.1 billion to the EU budget within weeks on account of its relative prosperity, Financial Times reports.

  • WASHINGTON, Oct 23- New claims for U.S. unemployment benefits held below 300,000 for a sixth straight week last week, suggesting the labor market was shrugging off jitters over a slowing global economy. Weakening growth in China and the euro zone, however, appears to be impacting the manufacturing sector, with other data on Thursday showing factory activity at a...

  • Santelli Exchange: Economies connected at hip     Thursday, 23 Oct 2014 | 11:52 AM ET

    CNBC's Rick Santelli dissects today's action in the German DAX, compared to the past year.

  • FOREX-Risk-on trade pulls dollar higher Thursday, 23 Oct 2014 | 11:42 AM ET

    *U.S. leading economic indicators better than expected. *German and eurozone flash PMIs beat expectations. NEW YORK, Oct 23- The dollar rallied on Thursday as investors plowed cash back into riskier asset classes, with an underpinning of promising data from the United States and better-than-expected manufacturing data in Europe and China.

  • Caterpillar Inc and 3 M Co, both Dow components, reassured investors that multinationals can deliver solid earnings despite concerns about global economic growth. Shares of Caterpillar, which raised its full-year earnings outlook, rose 4.9 percent, while 3 M shares jumped 5.7 percent. "If we're looking at headwinds like currency and slowing global growth,...

  • LONDON/ BEIJING/ NEW YORK, Oct 23- Euro zone businesses performed much better than forecasters expected this month and China's vast factory sector grew a shade faster, but U.S. manufacturing activity sputtered to its slowest since July, underscoring the uneven nature of the post-crisis global economy. The improvement in purchasing managers' surveys in Europe...

  • MOSCOW, Oct 23- Pressure is growing on Russia's central bank to adopt more radical measures to defend the tumbling rouble, such as interest rate rises, but there is no easy fix. The bank's board meets on Oct. 31 to discuss monetary policy and there is growing speculation it may soon raise rates to support the rouble, which is being hit by plunging oil prices and Western...

  • LONDON, Oct 23- Top managers of a failed bank would be replaced immediately and creditors told within two days the losses they will bear, the Bank of England said on Thursday in its blueprint for avoiding taxpayer bailouts in future financial crises. Had it been in place in 2008 when Royal Bank of Scotland failed, taxpayers would not have had to funnel 45 billion...

  • *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 0.4 percent at $1,235.90 an ounce at 1206 GMT, while U.S. gold...

  • *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.

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