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Europe: Economy

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  • France avoids EU penalties over budget deficits Wednesday, 25 Feb 2015 | 11:53 AM ET

    BRUSSELS— France will avoid punishment for missing its budget deficit targets after the European Union gave it two more years to come into line. European Commission Vice-President Valdis Dombrovskis said Wednesday that France now has a 2017 deadline to get its budget deficit equal to or below 3 percent of annual gross domestic product.

  • *Greece debt deal supports euro but doubts persist. NEW YORK, Feb 25- The dollar fell against a basket of currencies on Wednesday on Federal Reserve Chair Janet Yellen's suggestion the U.S. central bank would not rush into raising interest rates, spurring traders to trim bullish dollar bets. Treasuries from recent highs, as Yellen's testimony to Congress...

  • Europe ends lower as Yellen stays dovish  Wednesday, 25 Feb 2015 | 11:30 AM ET

    European equities ended lower on Wednesday as investors focused on a slew of corporate earnings and a second day of testimony by the U.S. Federal Reserve Chair Janet Yellen.

  • Euronext's respect for its competitors  Wednesday, 25 Feb 2015 | 11:30 AM ET

    CNBC's Louisa Bojesen talks to Dominique Cerutti, CEO of Euronext, on whether the company can be persuaded to work with a rival organisation, the Chicago Mercantile Exchange.

  • How will Greece pay their bills?  Wednesday, 25 Feb 2015 | 11:25 AM ET

    CNBC's Julia Chatterley talks to Yanis Varoufakis, finance minister of Greece, and asks him how Greece will pay their bills and what are their future plans.

  • LONDON, Feb 25- Ireland has no problem in principle with the idea of swapping Greece's official debt for growth-linked bonds but would have to see the details of any proposal, Finance Minister Michael Noonan said on Wednesday. Euro zone finance ministers agreed on Tuesday to a four-month extension of Greece's EU/IMF bailout programme, subject to its economic...

  • Bank regulation takes back seat to kick-starting economy Wednesday, 25 Feb 2015 | 9:23 AM ET

    *European Commission may ease some proposed rules. LONDON/ FRANKFURT, Feb 25- As the banking crisis fades in memory, only to be replaced by a lingering economic slowdown, governments are losing interest in financial reform despite warnings that dangers still lurk. "The bulk of legislative reform is now either in place or being put in place," said Anthony Browne, chief...

  • Germany's Merkel welcomes Greek bailout agreement Wednesday, 25 Feb 2015 | 8:45 AM ET

    BERLIN— German Chancellor Angela Merkel is welcoming an agreement on a four-month extension to Greece's financial bailout but says "a lot of work" remains ahead. Merkel said Wednesday she is glad Greece's eurozone partners have "found a starting point for negotiations with the new government." Key creditor Germany has insisted that aid must come with strings...

  • Britain legalizes three-parent babies Wednesday, 25 Feb 2015 | 8:22 AM ET

    Britain will become the first nation to legalize a "three-parent" IVF technique, which doctors say can prevent some inherited incurable diseases.

  • JERUSALEM, Feb 25- Israel's short-term interest rates could be cut below zero and other monetary policy tools considered should the shekel strengthen further and threaten the economy's export-led recovery, a senior Bank of Israel official said. Bank of Israel Deputy Governor Nadine Baudot-Trajtenberg said while the central bank was "relatively...

  • *Mixed signals in Feb data from China factory sector. *China trader sees copper premiums firm to $90- $95 from $85. LONDON, Feb 25- Copper dipped on Wednesday on uncertainty about China's economic growth and as bearish investors resumed selling when Chinese markets reopened after a break.

  • *Palladium prices hit 6- week high at $804.10/ oz. LONDON, Feb 25- Gold rose on Wednesday, recovering from the previous day's seven-week lows, after comments from Federal Reserve Chair Janet Yellen suggested the central bank would not be rushed into raising interest rates. The precious metal rose more than 1 percent to a session high earlier in Asia after Chinese...

  • Too big to manage? HSBC's chiefs grilled over tax scandal Wednesday, 25 Feb 2015 | 4:56 AM ET

    HSBC, Europe's biggest bank, has endured a string of scandals and paid billions in penalties to regulators around the world. But recent revelations that its Swiss private bank helped the wealthy evade taxes are raising new questions about whether big banks like HSBC have become too vast to manage— and who should be accountable when things go wrong.

  • Austerity vs reforms: Which matters more?  Wednesday, 25 Feb 2015 | 12:48 AM ET

    There are now more flexibility when it comes to austerity rules in Europe as countries realize the importance of structural reforms, says Christian Schulz, senior economist at Berenberg Bank.

  • Take the gamble on European stocks: Expert  Wednesday, 25 Feb 2015 | 12:17 AM ET

    Puru Saxena, CEO of Puru Saxena Limited, expects European equities to do well over the next 1 year due to the ECB's quantitative easing, but warns of currency risks.

  • *Germany's Schaeuble requests parliament vote to extend bailout. BRUSSELS/ BERLIN, Feb 24- Greece secured a four-month extension of its financial rescue on Tuesday when its euro zone partners approved a reform plan that backed down on key leftist measures and promised that spending to alleviate social distress would not derail its budget.

  • NEW YORK, Feb 24- The dollar was up slightly against a basket of currencies on Tuesday, almost erasing earlier gains as Federal Reserve Chair Janet Yellen offered no commitment as to when the U.S. central bank might raise interest rates. It's very cautious and very couched, "said Boris Schlossberg, managing director of FX strategy at BK Asset Management in New York.

  • LONDON, Feb 24- Sierra Leone could see growth rebound to double digits over the next 3-5 years as it emerges from the Ebola crisis and plans to tap its diaspora to raise funds for development, its foreign minister said. The west African country's economy was ravaged by the recent year-long outbreak of the Ebola virus that killed more than 9,000 people across...

  • Asian stocks mostly up, cheered by US Fed chair remarks Tuesday, 24 Feb 2015 | 10:18 AM ET

    The latest milestones came as investors liked what they heard from Federal Reserve Chair Janet Yellen, who told Congress the central bank would be patient about raising interest rates as the economy improves. "Markets had been very focused on the Yellen testimony and wanted to see if there was going to be any change in the outlook for the first Fed rate hike," said...

  • Yellen navigates tricky path on interest rates Tuesday, 24 Feb 2015 | 10:01 AM ET

    WASHINGTON— Federal Reserve Chair Janet Yellen said Tuesday that the U.S. economy is making steady progress, but for now the Fed is sticking with patience in raising interest rates because the labor market is still healing and inflation is too low. In her semiannual economic report to Congress, Yellen sought to explain how the Fed would begin raising rates from...

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