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Europe: Economy

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  • FRANKFURT, Germany— European Central Bank head Mario Draghi says governments that share the euro currency shouldn't wait for better times to push through reforms that would boost sluggish growth. The jobless rate is 11.3 percent for the 19 European Union member countries that use the euro, and 50 percent for young people in Spain and Greece.

  • *Vodafone shares gain, Richemont slips. European Central Bank President Mario Draghi and Bank of England Governor Mark Carney, along with other central bankers, will be addressing an ECB Forum in Portugal later in the day. Attention will also fall on Federal Reserve Chair Janet Yellen, who is due to speak on the U.S. economic outlook before the Greater Providence...

  • Wall Street's record high on Thursday lifted Asian stocks on Friday, a day that will be packed with key European and U.S. economic data as well as speeches from Federal Reserve chair Janet Yellen and European Central Bank president Mario Draghi. European shares struggled to match that, but the leading index of European shares was still poised for its biggest...

  • OECD: Looking forward to more good EU data   Friday, 22 May 2015 | 4:00 AM ET
    OECD: Looking forward to more good EU data

    Catherine Mann, chief economist at OECD, explains why Europe is looking lot better economically, while discussing capital markets.

  • Europe is coming out of the woods: OECD   Friday, 22 May 2015 | 4:00 AM ET
    Europe is coming out of the woods: OECD

    Catherine Mann, chief economist at OECD, talks about the European Central Bank and the creative efforts they could do to further aid the economy.

  • FOREX -Dollar surge cools, eyes on Yellen, inflation Friday, 22 May 2015 | 3:50 AM ET

    LONDON, May 22- The dollar edged lower on Friday but remained on course for its first week of gains against the euro and a basket of major currencies since the start of April ahead of inflation numbers later in the day. Dealers said there might be little appetite for another big move ahead of UK and US public holidays on Monday. The yen was up around a quarter of a...

  • LONDON, May 22- Euro zone bond yields fell on Friday ahead of German business sentiment data and U.S. inflation numbers that were both expected to be soft, helping to stabilise a market shaken by weeks of violent price swings. European Central Bank policymakers helped halt that sell-off earlier in the week, with Executive Board member Benoit Coeure saying the...

  • Draghi: Growth is 'too low everywhere' in Europe Friday, 22 May 2015 | 1:58 AM ET
    European Central Bank President Mario Draghi speaks at a news conference in Frankfurt, April 15, 2015.

    European Central Bank head Mario Draghi said that "growth is too low everywhere" in the 19-country euro zone despite a modest recovery.

  • HONG KONG— Chinese stocks hit a seven-year high as investors pinned their hopes on further economic stimulus while most other world markets were subdued Friday ahead of a speech by Federal Reserve chair Janet Yellen. Britain's FTSE 100 gained 0.3 percent to 7,033.44. CHINA RALLY: Investors who weren't allocated shares in recent initial public offerings are...

  • WASHINGTON, May 22- There were no fancy economic models or forecasts when former Florida Governor Jeb Bush first tossed out the idea that 4 percent annual growth should be the overarching goal for the U.S. economy. But what started as a casual suggestion during a 2010 conference call with advisers to the George W. Bush Institute, a public policy center in Dallas, has...

  • SINGAPORE/ TOKYO, May 22- The dollar edged lower versus a basket of major currencies on Friday in the wake of unimpressive U.S. economic data, with investors awaiting speeches by major central bankers. Against the yen, the dollar sagged slightly after the Bank of Japan maintained its massive monetary stimulus, as expected, and slightly revised up its assessment of...

  • MOSCOW, May 21- The International Monetary Fund sees the Russian economy shrinking by 3.4 percent in 2015, a smaller contraction than previously forecast, but said the country's public finances faced big longer-term challenges because of low oil prices. Russia's economy was tipped into crisis last summer when an existing slowdown was compounded by a sharp...

  • Europe ekes out gains to close higher after PMIs   Thursday, 21 May 2015 | 11:30 AM ET
    Europe ekes out gains to close higher after PMIs

    European equities finished higher on Thursday as investors digested fresh data from the euro zone.

  • ANKARA, May 21- A Turkish parliamentary candidate tipped as a key member of the next government's economic team said on Thursday that Turkey could ill afford to loosen monetary or fiscal policy while the global economy remains fragile. Naci Agbal, who resigned as finance ministry undersecretary in February to run as a ruling AK Party candidate in the June 7...

  • IMF upgrades Russia growth outlook Thursday, 21 May 2015 | 10:31 AM ET

    MOSCOW— The International Monetary Fund predicts a less severe recession for Russia and says the country's economy will return to growth in a "mild recovery" next year. Following a recent staff visit to Russia, the IMF says in a statement that it now predicts a 3.4 percent contraction in GDP this year and says "growth should resume" in 2016.. On Thursday, the IMF did not...

  • Asia stock markets mostly higher, China at 7-year high Thursday, 21 May 2015 | 10:15 AM ET

    NEW YORK— The stock market eked out another record close on Thursday as rising oil prices boosted energy stocks. Best Buy was among the biggest gainers after reporting earnings that exceeded the expectations of Wall Street analysts. Lumber Liquidators, a specialty retailer of hardwood flooring, plunged after its CEO abruptly quit the company.

  • LONDON, May 21- The past year's sharp oil price fall may have a longer-lasting effect on British inflation than the Bank of England assumes, but the central bank would be wise to look through such one-off effects, a BoE policymaker said on Thursday. Martin Weale, who last year voted in vain for the central bank to start to raise interest rates, said the BoE's Monetary...

  • TOKYO— Vying to keep pace with China's rising influence and economic clout, Japan plans to provide $110 billion to help develop roads, ports and other infrastructure in Asia in the next five years, Prime Minister Shinzo Abe said Thursday. "Asia has a voracious infrastructure demand, reaching as much as 100 trillion yen annually," Abe said, adding that "we should seek'...

  • DUBLIN— Ireland's unemployment rate has fallen to 9.8 percent, the first time in six years that joblessness levels can be measured in single digits. Ireland's quarterly economic report published Thursday found that unemployment has declined from 10.1 percent since January. That so-called Celtic Tiger economy collapsed amid worldwide credit troubles in...

  • Kyrgyzstan ratifies joining Russia-led trade bloc Thursday, 21 May 2015 | 6:40 AM ET

    BISHKEK, Kyrgyzstan— The Central Asian country of Kyrgyzstan has ratified a measure to join the Eurasian Economic Union, a Russia- led trade bloc. The country's entry must then be approved by the parliaments of the other members— Russia, Kazakhstan, Armenia and Belarus. Russia pushed hard for Ukraine to join the bloc, but opponents saw it as an attempt by Moscow to...

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