Europe: Economy


  • *Eurogroup urges Greece to speed up reform deal for cash. RIGA, April 24- Euro zone finance ministers delivered a stark warning to Greece on Friday that its leftist government will get no more aid until it agrees a complete economic reform plan, as Athens lurches closer to bankruptcy. He also said a remaining 7.2 billion euros in frozen bailout funds would no longer...

  • Not enough pressure on Greece: Piccoli   Friday, 24 Apr 2015 | 4:40 AM ET
    Not enough pressure on Greece: Piccoli

    Can we put money on Greece delivering soon? Wolfango Piccoli, managing director at Teneo Intelligence, doesn't think so.

  • FRANKFURT, Germany— A closely watched survey of optimism among German businesses shows that confidence grew for a sixth straight month in Europe's biggest economy. Analyst Carsten Brzeski at ING said that "the German economy is in decent shape" and that "the first months of the year point to a good, though not excellent, growth performance in the first quarter.

  • IFO data show 'Germany is doing fine'   Friday, 24 Apr 2015 | 4:00 AM ET
    IFO data show 'Germany is doing fine'

    After German business sentiment data, Holger Schmieding, chief economist at Berenberg Bank, says current conditions have improved a lot.

  • RIGA, Latvia— Greece remains at loggerheads with its European creditors on an economic reform program required to unlock bailout loans the country will need to avoid defaulting in coming months and crashing out of the euro. Just two months ago, Greece secured an agreement from the eurozone to get the remaining money in its bailout fund— 7.2 billion euros— but only...

  • Why this expert is now neutral on Europe stocks   Friday, 24 Apr 2015 | 12:31 AM ET
    Why this expert is now neutral on Europe stocks

    Dan Scott, vice president of Credit Suisse, says there are concerns over the valuations in European markets, but reiterated that he still prefers equities to fixed income.

  • Beware of a contagion if Greece leaves EU: UBS   Thursday, 23 Apr 2015 | 10:43 PM ET
    Beware of a contagion if Greece leaves EU: UBS

    Paul Donovan, MD and senior global economist at UBS, outlines the "hideous" consequences of a "Grexit."

  • This professor still thinks 'Grexit' will occur   Thursday, 23 Apr 2015 | 8:14 PM ET
    This professor still thinks 'Grexit' will occur

    Despite rapidly running out of cash, Greece continues to alienate its "friends" in the euro zone, says Stefan Auer, associate professor in European Studies at the University of Hong Kong.

  • NEW YORK, April 23- The dollar was knocked lower on Thursday by a decline in U.S. new-home sales fanning worries about U.S. economic growth, while the euro rose more than 1 percent on waning fears of a Greek default. "What we have seen so far is a mixed data bag," said Mazen Issa, senior currencies strategist at TD Securities in Toronto. The euro, which has been sliding for...

  • WASHINGTON, April 23- The number of Americans filing new claims for unemployment aid edged up last week for a third straight week, but the underlying trend continued to point to solid momentum in the labor market. Initial claims for state unemployment benefits increased 1,000 to a seasonally adjusted 295,000 for the week ended April 18, the Labor Department...

  • Europe ends lower after soft PMIs, Ericsson tanks   Thursday, 23 Apr 2015 | 11:30 AM ET
    Europe ends lower after soft PMIs, Ericsson tanks

    European equities finished lower on Thursday, as investors digested earnings news and economic data from China and the euro zone.

  • LONDON/ SYDNEY/ NEW YORK, April 23- Business activity weakened in China and Japan in April and growth slowed in Europe and the U.S., suggesting the global economy may be less robust than policymakers are predicting. In China, where the government has been engineering a rebalancing of its economy towards domestic spending and away from reliance on exports of...

  • Europe mulls military force against traffickers Thursday, 23 Apr 2015 | 11:00 AM ET
    A boat transporting migrants arrives in the port of Messina after a rescue operation at see on April 18, 2015 in Sicily.

    European leaders could announce the use of military force after meeting on Thursday to discuss measures to tackle the migrant crisis.

  • Will Greece and Eurogroup ever agree?   Thursday, 23 Apr 2015 | 11:00 AM ET
    Will Greece and Eurogroup ever agree?

    Bob McKee, chief economist at Independent Strategy, says there's still no real agreement being reached between the Eurogroup and Greek officials, with the Eurogroup seeming pretty "cynical."

  • MOSCOW, April 23- Russian home electronics retailer M.video aims to achieve flat sales in the first three quarters of 2015 compared with a year ago, outperforming a declining market hit by falling consumption, its chief executive said. Russia's economy is sliding into recession, dragged down by Western sanctions imposed on Moscow over its policy in Ukraine and...

  • BRUSSELS/ BERLIN, April 23- German Chancellor Angela Merkel was expected to press Greek Prime Minister Alexis Tsipras on Thursday to move faster to agree detailed economic reforms crucial to unlock international bailout funds before Athens runs out of cash. The conservative German leader was due to meet the leftist Greek premier just before an emergency...

  • MOSCOW, April 23- Western companies are sticking with Russia, waiting for an economic rebound that they expect will once again bring rich rewards although some have cut operations to weather the slump. Russia is expecting a steep recession this year, caused by low international oil prices and Western sanctions over the Ukraine conflict even though...

  • The sudden drop in the euro zone flash composite Markit Purchasing Managers' Index was driven by sharply slower growth in manufacturing orders in Germany and France, suggesting recent optimism about the euro zone may be overdone. Factory order growth slowed particularly in France, but also in major goods exporter Germany, and the euro zone's No. 1 economy,...

  • Spain's jobless rate edges up ahead of elections Thursday, 23 Apr 2015 | 5:35 AM ET

    MADRID— Spain's unemployment rate edged up slightly to 23.8 percent in the first quarter despite a welcome drop in the number of people out of work. The increase reported by the National Statistics Institute is a blow for the conservative government as it prepares for municipal and regional elections next month and general elections by the end of the year.

  • SEB's Q1 shows good diversification: CFO   Thursday, 23 Apr 2015 | 4:50 AM ET
    SEB's Q1 shows good diversification: CFO

    Swedish lender, SEB, has reported an 18% rise in Q1 operating profit. CFO Jan Erik Back says there's been "swings and roundabouts."

Contact Europe: Economy


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