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Europe: Economy

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  • NEW YORK— The plunge in oil has crushed the Russian ruble, erased $80 billion from Exxon Mobil's market value and pushed Venezuela to the brink of economic collapse. But to Justin Thomas, the real drama in oil unfolds on a smaller scale, a story told in tiny, second-by-second moves in prices on his computer screen. "It was quiet, then there was chaos," said Thomas after a...

  • Europe shares close mixed; oil, Fed weighs  Thursday, 29 Jan 2015 | 11:30 AM ET

    European equities closed mixed on Thursday as oil prices and a slightly hawkish tone from the U.S. Federal Reserve managed to dent investor sentiment.

  • Denmark cuts key interest rate to -0.5 percent Thursday, 29 Jan 2015 | 10:50 AM ET

    COPENHAGEN, Denmark— Denmark's central bank has decided to cut its interest rate on certificates of deposit by 0.15 percentage points to -0.5 percent to keep the krone currency stable against the euro. Danmarks Nationalbank says Thursday that the rate reduction will take effect Friday and follows interventions it made in the currency market to keep the...

  • BERLIN, Jan 29- Annual inflation in Germany turned negative in January for the first time since the height of the global financial crisis in 2009, suggesting the euro zone rate could drop further and possibly vindicating the ECB's bond-buying programme. Preliminary data on Thursday showed consumer prices in Europe's largest economy, harmonised to compare...

  • *Greece concerns weigh on Europe, Athens stocks up. LONDON, Jan 29- European stocks slipped and the dollar strengthened on Thursday after the Federal Reserve took an upbeat view of the world's largest economy and signalled it was on track to raise interest rates this year. Greece, where an anti-austerity prime minister took over on Monday, also kept investors...

  • BERLIN, Jan 29- Annual inflation in Europe's largest economy turned negative in January for the first time since October 2009, preliminary data from Germany's Federal Statistics Office showed on Thursday. That compared with the Reuters forecast for a 0.2 percent drop and the European Central Bank's target for close to but just under 2 percent over the medium...

  • ATHENS, Greece— The first European official to visit Greece since the country elected a new left-wing government said Thursday that he expects clashes over how to lighten the country's bailout— not rash actions from Athens. European Parliament president Martin Schulz said he had concluded after discussions with 40- year-old Prime Minister Alexis Tsipras...

  • SAO PAULO, Jan 29- Banco Bradesco SA, Brazil's second-biggest private sector bank, on Thursday forecast lower lending growth for this year than it estimated for 2014, highlighting the economic headwinds facing Latin America's largest economy. The forecast highlights increased caution as Brazil's economic imbalances and growing skepticism over...

  • BANGKOK, Jan 29- Thailand's finance ministry again trimmed its growth forecasts for this year and the last on Thursday, when fresh factory output data provided more evidence that the economy remains wobbly. For 2014, whose full-year GDP growth rate will be announced on Feb. 16, the ministry reduced its projection to just 0.7 percent, from 1 percent in December.

  • Belarus president rules out "shock therapy' for economy Thursday, 29 Jan 2015 | 4:41 AM ET

    MINSK, Jan 29- President Alexander Lukashenko said on Thursday Belarus would find a way out of its financial problems, exacerbated by economic turmoil in Russia, but ruled out "shock therapy". "The way of shock therapy for Belarus is unacceptable," Belta quoted him as saying. "They would come from all sides to teach us a lesson, to start' Maidans'," he said, referring to the...

  • BERLIN— German unemployment rose to 7 percent in January, but the increase was due largely to seasonal factors and the Federal Labor Agency says the job market remains strong. The rate rose 0.6 percentage points from 6.4 percent in December, with 3.03 million people out of work in January, the agency said in a report Thursday. When adjusted for seasonal factors,...

  • Market's disappointed but SEB's not  Thursday, 29 Jan 2015 | 4:30 AM ET

    As SEB posts its Q4 earnings, CFO Jan Erik Back says that despite them being below forecast, he's pleased with the "strong result."

  • Deutsche tops estimates: Reaction  Thursday, 29 Jan 2015 | 4:15 AM ET

    Deutsche Bank has posted its fourth quarter earnings. Dirk Becker, deputy head of German research at Kepler Cheuvreux, says the bank did "incredibly well."

  • FOREX-Dollar firm post-Fed, franc eyed for intervention Thursday, 29 Jan 2015 | 4:12 AM ET

    LONDON, Jan 29- The U.S. dollar inched higher against the yen and was steady to the euro on Thursday after a Federal Reserve statement which, with some caveats, was read as keeping the bank on track to raise interest rates later this year. That prodded U.S. bond yields lower, but the overall picture, of a steadily improving U.S. economy while Europe and Japan remain mired...

  • The 'big problem' for ECB QE  Thursday, 29 Jan 2015 | 4:00 AM ET

    Ian Harnett, co-founder of Absolute Strategy Research, says that one of the biggest problems resulting from ECB quantitative easing is the "flattening yield curve."

  • MOSCOW, Jan 29- Russian food retailer Lenta said on Thursday its sales growth slowed in the fourth quarter to 30.6 percent from 32.9 percent in the previous quarter as consumers tightened spending amid soaring inflation. "It is clear that the economy will face further challenges in 2015," said Jan Dunning, Lenta Chief Executive Officer. Lenta, which raised about...

  • MISRATA, Libya, Jan 29- A power struggle between two rival governments that threatens to tear Libya apart has started to take its toll on Misrata, an important shipping and industrial hub that had shrugged off the turmoil until now. Oil production has collapsed to a fifth of what Libya used to pump before the NATO- backed uprising, while wheat imports and other...

  • 'Brace for the worst' for Deutsche Bank: Pro  Thursday, 29 Jan 2015 | 12:42 AM ET

    Dan Scott, Vice President of Credit Suisse, discusses his expectations for Deutsche Bank's fourth quarter earnings due on Thursday.

  • BANGKOK, Jan 29- Thai factory output fell less than expected in December as exports rose, but it still dropped for a 21st straight month, a further sign that the economy remains wobbly. The Industry Ministry said output in December fell 0.35 percent from a year earlier, the smallest drop since the string of production shrinkages began in April 2013.

  • WASHINGTON, Jan 28- The Federal Reserve on Wednesday said the U.S. economy was expanding "at a solid pace" with strong job gains in a signal that the central bank remains on track with its plans to raise interest rates this year. "The committee, in fact, was downright bullish on current economic conditions and the outlook," said Paul Edelstein, director of financial...

Contact Europe: Economy

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