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Europe: Economy

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  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession". After the bloc's revival came to a halt in the...

  • *Italy, France want more spending room despite EU budget rules. BRUSSELS, Oct 24- France and Italy renewed their commitment to reform their economies on Friday in the hope of winning more time to bring their public finances in order but the ECB's president warned more needed to be done to avoid "a relapse into recession." After the bloc's revival came to a halt in the...

  • MOSCOW, Oct. 24- There are "very big risks" that Russia's economic growth could turn negative in 2015 if oil prices remain close to present levels, Economy Minister Alexei Ulyukayev said on Friday, news agency Interfax reported. The price of oil, Russia's major export, has plummeted in recent months, falling around almost $30 since June to around $85 per barrel.

  • Italian court acquits Dolce&Gabbana in tax case Friday, 24 Oct 2014 | 7:11 AM ET

    MILAN— Italy's highest court has acquitted Domenico Dolce and Stefano Gabbana of tax evasion in a highly publicized case that led the Milan designers to close their Milan stores in protest for several days last year. The Court of Cassation in Rome overturned two lower court convictions in its decision Friday, ruling that no crime had been committed.

  • EU needs to 'step up' reform: Eurogroup head     Friday, 24 Oct 2014 | 5:15 AM ET

    Eurogroup President Jeroen Dijsselbloem, says the growth outlook for Europe's economy is "moderately positive" but countries need to "step up" structural reform efforts.

  • Rapid UK economic growth slows slightly in 3rd quarter. LONDON- Britain's rapid economic recovery eased as expected during the third quarter, as services output growth slowed and manufacturing expanded at the weakest pace in 18 months, official data shows. BRUSSELS- France and Italy make fresh commitments to reform to persuade Germany and the European...

  • British economy grows 0.7 percent Friday, 24 Oct 2014 | 5:02 AM ET

    LONDON— Official figures show Britain's economic recovery is continuing, despite a gloomy global environment. Treasury Chief George Osborne says the figures show Britain "continues to lead the pack in an increasingly uncertain global economy." Samuel Tombs, the senior U.K. economist for Capital Economics, says growth in Europe's third largest economy has...

  • Nobel Economics Laureate: Why I back banking union Friday, 24 Oct 2014 | 4:12 AM ET

    The euro zone’s controversial plans for a closer banking union have been given some influential backing from this year’s Nobel economics prize winner.

  • Michala Marcussen, global head of economics at Société Générale, discusses why the euro is not weak on a relative basis and won't have a big impact on helping the euro zone economy.

  • Germany's BASF warns on profits and shares drop Friday, 24 Oct 2014 | 3:51 AM ET

    BERLIN— Chemical and oil company BASF is warning that its profits will come in below its previous forecast in the wake of slower global economic growth and industrial production. Shares in BASF SE dropped 2.4 percent to 69.34 euros in Frankfurt trading Friday after the company revised its forecast. BASF upheld its target of a slight increase in pretax earnings...

  • People must be able to get a job: Swedish PM     Friday, 24 Oct 2014 | 3:30 AM ET

    Swedish Prime Minister Stefan Löfven says the European Union's heads of state are looking closely at "economic issues" and creating employment.

  • Survey: German consumer confidence stabilizes Friday, 24 Oct 2014 | 2:48 AM ET

    BERLIN— A survey finds that a downward trend in German consumer confidence has come to an end, despite cooler growth prospects for Europe's biggest economy. The government and economists have cut their growth forecasts for Germany after a string of disappointing industrial data for August. It cautioned that consumer confidence would likely be affected if...

  • European bank stress tests: Your guide Friday, 24 Oct 2014 | 2:40 AM ET

    Europe’s banks will find out whether they have passed their health checks this Sunday. Here’s a CNBC guide on Europe’s latest bank stress tests.

  • WASHINGTON, Oct 24- After months of focus on slack in U.S. labor markets, the Federal Reserve faces a new challenge: the possibility that weak inflation may be so firmly entrenched it upends the return to normal monetary policy. The Fed is expected to take note of recent market turmoil and worsened world conditions at its Oct 28-29 meeting even as it ends the...

  • SEOUL, Oct 24- South Korea's economic growth quickened in the third quarter as government and consumer spending rebounded, but exports were knocked by cooling global growth, a sign that more monetary easing may be required to sustain a fragile recovery. Underscoring the tenuous economic momentum, the Bank of Korea said a large part of the consumption uptick was...

  • SEOUL, Oct 24- South Korea's economic growth quickened in the third quarter led by private consumption and construction spending, but quarterly exports declined for the first time in a year in a sign of cooling global growth that should keep the door open for more monetary easing. The economy grew a seasonally adjusted 0.9 percent in the July-September quarter...

  • 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.

Contact Europe: Economy

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