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Europe: Economy

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  • *Sunday's referendum could be flashpoint for Greece. LONDON, July 2- The Swedish crown sank 1 percent on Thursday after the central bank in Stockholm surprised markets by cutting interest rates and saying it would pump more money into the economy, citing risks from Greece. Sweden's Riksbank said that uncertainty abroad had increased and it was difficult to...

  • Saudi economy accelerates in Q1, may not be sustained Thursday, 2 Jul 2015 | 7:02 AM ET

    DUBAI, July 2- Saudi Arabia's economy accelerated in the first quarter of 2015, showing the world's top oil exporter can cope with low energy prices, but growth may slow as the government faces pressure to rein in spending. The figures indicated Saudi Arabia had offset the impact of oil's 50 percent plunge since mid-2014 with a combination of heavy state...

  • Greek Prince: Europe needs to give us breathing space Thursday, 2 Jul 2015 | 6:26 AM ET
    Crown Princess Marie-Chantal of Greece and Crown Prince Pavlos of Greece attend day 3, Ladies Day, of Royal Ascot

    The Crown Prince of Greece has thrown his support behind the country's government, but hopes the Greek people will vote "yes" in the referendum.

  • SEOUL, South Korea— Global stocks were higher on Thursday as expectations for solid U.S. jobs data overshadowed worries about Greek debt. Britain's FTSE 100 was up 1.3 percent to 6,607.79 and France's CAC 40 jumped 2 percent to 4,885.45. The Institute for Supply Management, a trade group of purchasing managers, said its manufacturing index rose to the highest...

  • COPENHAGEN, Denmark— Sweden's central bank has cut its key interest rate to a record low of minus 0.35 percent saying "events in Greece over the past few days have substantially increased the uncertainty." In a statement, the bank says the consequences of the situation in Greece for the eurozone as a whole and for Sweden "are difficult to judge.

  • What next for Europe's Unicorns? Thursday, 2 Jul 2015 | 4:40 AM ET
    What next for Europe's Unicorns?

    Alastair Mitchell, president and co-founder of Huddle, talks about Unicorns (start-ups with $1-billion valuations) and why some move to Silicon Valley.

  • *Sunday's referendum could be flash point for Greece. LONDON, July 2- The Swedish crown sank 1 percent on Thursday after Sweden's central bank surprised markets by cutting interest rates deeper into negative territory and saying it would pump more money into the economy, citing risks from Greece. Sweden's Riksbank said that uncertainty abroad had increased...

  • Alexis Tsipras told private Antenna TV station in an interview Thursday that he wants Greece to remain within the eurozone, but with a sustainable bailout agreement. He said a "yes" win would lead to a deal that puts additional burdens on Greece without growth. Greece's government says the International Monetary Fund's report on Greece "completely justifies"...

  • Here's how things look now: The left-wing party, Syriza, holds power in Athens. Greece actually did miss a loan payment to the International Monetary Fund late Tuesday. Part of the calm reflects hope that Greece ultimately will reach a deal with its creditors and that Greeks will vote Sunday to accept their demands and keep the euro. Improving economic conditions...

  • *Gold heads lower for third session. SINGAPORE, July 2- Gold fell to a four-week low on Thursday, extending losses into a third straight session due to a strong dollar and the prospect of higher U.S. interest rates, with the market eyeing U.S. economic data due later in the day for further trading cues. "Gold's appeal as a safe-haven asset, clearly, has not really shone...

  • LONDON, July 2- Greece's deepening debt crisis has become "very dangerous" but there is no sign yet of it spreading to other countries on the periphery of the euro zone, Bank of England Deputy Governor Jon Cunliffe said on Thursday. Late on Wednesday, a defiant Prime Minister Alexis Tsipras urged Greeks to reject an international bailout deal, wrecking any prospect...

  • Beyond Greece, Europe is seeing a recovery: Pro Thursday, 2 Jul 2015 | 12:06 AM ET
    Beyond Greece, Europe is seeing a recovery: Pro

    Nicholas Ferres, investment director of global asset allocation at Eastspring Investments, says improving European data signal a return to above-trend growth.

  • ATHENS, Greece— The battle for Greek votes entered full swing Thursday ahead of a crucial weekend referendum that could decide whether the country falls out of the euro. Greece's rescue lenders have halted negotiations on a new financial aid program until after the vote on whether to accept reforms the creditors proposed last week in exchange for bailout...

  • *Gold heads lower for third session. SINGAPORE, July 2- Gold extended losses into a third session on Thursday, languishing close to its lowest in nearly four weeks due to a strong dollar and the prospect of higher U.S. interest rates, with all eyes on U.S. economic data due later in the day. "Gold's appeal as a safe-haven asset, clearly, has not really shone through in the...

  • MELBOURNE, July 2- London copper held its ground on Thursday after strong U.S. data eclipsed worries about factory growth in Asia, with a jobs report later in the session expected to support the view that the world's biggest economy is gaining steam. *A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal,...

  • Greece Latest: Talks in tatters as key vote looms Wednesday, 1 Jul 2015 | 8:31 PM ET
    A man puts up posters with the word "No" in Greek in Athens, July 1, 2015.

    We'll keep you updated on Greece, as the prime minister lashes out at EU leaders and Greeks queue at ATMs fast running out of cash.

  • Greece stays after referendum, but Tsipras goes: Pro Wednesday, 1 Jul 2015 | 7:16 PM ET
    Greece stays after referendum, but Tsipras goes: Pro

    Bill Smith, CEO and senior portfolio manager at SAM Advisors, says a "Grexit" is unlikely and Greek Prime Minister Alexis Tsipras will have to resign after Sunday's referendum.

  • NEW YORK, July 1- The euro fell against the U.S. dollar on Wednesday after strong U.S. economic data raised expectations the Federal Reserve will hike rates in September, while a combative address from Greece's prime minister also weighed on the euro. The ADP National Employment Report showed 237,000 private-sector U.S. jobs were created in June, handily...

  • BRUSSELS, July 1- Euro zone finance ministers told Prime Minister Alexis Tsipras on Wednesday that they would review his request for a new bailout loan in the light of how Greeks vote on Sunday in the referendum he has called on credit terms. "We will come back to your request for financial stability support from the ESM only after, and on the basis of the outcome of,...

  • FRANKFURT, July 1- Euro zone central bank chiefs kept their existing cap on a funding lifeline to Greece in place on Wednesday, the ECB said, a move that keeps pressure on Greece as its lenders run out of cash. As the central bankers gathered in Frankfurt, a defiant Prime Minister Alexis Tsipras urged Greeks to reject an international bailout deal, wrecking any...

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