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Europe: Economy

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  • Cashin: Market deciding on IBM     Monday, 20 Oct 2014 | 10:50 AM ET
    Art Cashin

    Art Cashin, UBS director of floor operations, discusses the influence of IBM's disappointing earnings and the impact of Ebola on the U.S. stock market.

  • LONDON, Oct 20- Sterling rose against the euro and the dollar on Monday, as traders bought it after last week's sharp losses, with its near-term direction set to be dictated by UK growth data. Third-quarter gross domestic product numbers on Friday could provide some support for the currency, which has been plagued by increasing doubts in the solidity of Britain's...

  • FRANKFURT/ PARIS, Oct 20- The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, opening a new front in its battle to revive the euro zone economy and keep deflation at bay. Shares in euro zone banks outperformed, with Banco Santander up 0.9 percent, Societe Generale up 0.8 percent and UniCredit up 1.6 percent.

  • European Central Bank starts stimulus purchases Monday, 20 Oct 2014 | 7:10 AM ET

    FRANKFURT, Germany— The European Central Bank has started buying securities called covered bonds as it launches its latest stimulus effort aimed at preventing the 18- country eurozone economy from sinking back into recession. An ECB spokeswoman confirmed the purchases began Monday. Covered bonds are investments backed by loans such as mortgages.

  • Germany, France to draw up investment plans Monday, 20 Oct 2014 | 3:20 AM ET

    BERLIN— Germany and France agreed Monday to draw up proposals by the beginning of December to boost investment as they try to come up with a strategy that will help shore up the European economic recovery. Though the decision to come up with an investment plan shows the two countries trying to work together closely, the divide between Berlin and Paris on economic...

  • Jacques Cailloux, chief European economist at Nomura, discusses why global stock markets wobbled last week, and suggests markets are only realizing ECB President Mario Draghi's message that he cannot reflate the economy without the help of reform from governments.

  • Survey: Pay raises rarer despite strong US hiring Monday, 20 Oct 2014 | 12:01 AM ET

    WASHINGTON— U.S. businesses were much less likely to boost pay in the third quarter than in previous months, even as hiring remained healthy, a sign that wage gains may remain weak in the coming months. A quarterly survey by the National Association for Business Economics found that only 24 percent of companies increased wages and salaries in the July-September...

  • Japan leads Asia stocks higher after US rebound Sunday, 19 Oct 2014 | 11:48 PM ET

    Asian stock markets rose Monday, led by a 3 percent surge in Japan, as nerves about the outlook for the world economy steadied after big gains on Wall Street. KEEPING SCORE: Japan's Nikkei 225 soared 3.3 percent to 15,018.55, helped in part by exporter stocks as the dollar resumed its rise against the yen. South Korea's Kospi was up 1.5 percent at 1,928.95 and Hong...

  • German finance chief: confident on balanced budget Sunday, 19 Oct 2014 | 6:17 AM ET

    Chancellor Angela Merkel appears determined to stick to plans to get by without new borrowing next year for the first time since 1969, though Germany's growth outlook has weakened and Berlin faces calls from abroad to pump money into the economy. The French ministers were quoted as suggesting to the German daily Frankfurter Allgemeine Zeitung that Germany...

  • LONDON, Oct 19- Evaporating inflation and slowing growth have put financial markets into such a spin that they could inflict further damage on the world economy. With the Fed set to turn off its money taps at the end of this month, investors appear to have woken up to poor growth prospects in much of the world, something International Monetary Fund chief Christine...

  • Iran says number of foreign tourists surges Saturday, 18 Oct 2014 | 12:49 PM ET

    TEHRAN, Iran— The number of foreigners visiting Iran jumped dramatically over the 12- month period ending in March, with 35 percent more tourists compared to the same period a year earlier, Iran's top tourism official said Saturday. Masoud Soltanifar said on state TV that the thriving industry could help boost Iran's economy out of recession and bring in...

  • Here's what's been happening in markets this month Saturday, 18 Oct 2014 | 9:02 AM ET

    What a difference a month makes. On Sept. 18, the U.S. stock market reached a record high after a mostly uneventful summer. Long-term interest rates headed higher, a sign that investors expected steady U.S. growth.

  • What's next after wild week for stocks? Saturday, 18 Oct 2014 | 8:53 AM ET

    NEW YORK— The stock market needs to see a therapist. Investors seemed buffeted from every corner: Plunging oil prices, signs of a slowdown in Europe and fear of Ebola on the downside; strong corporate earnings and reassuring jobs market figures on the upside. Investors are afraid that Europe could slip into another recession, perhaps deeper than the one it emerged...

  • Samaras said Athens was talking with its lenders about what should happen if Greece succeeds in leaving its bailout programme by the end of December, a year ahead of schedule, as Greek officials hope. He sees one option as a credit line that Athens could tap post-bailout should it fall prey to future market turmoil. But the details of any such credit line have yet to...

  • Fear-gauge flashes wild week on Wall Street Friday, 17 Oct 2014 | 2:03 PM ET

    NEW YORK— Europe's economy sputters, oil prices plunge and stocks start swinging wildly. Wall Street's long dormant "fear index" now predicts more turbulence ahead. Slowing growth in Europe and the developing world have stirred up lingering doubts among investors just as the Federal Reserve plans to wind down a bond-buying program that many considered a...

  • European shares post biggest daily gain in three years Friday, 17 Oct 2014 | 12:37 PM ET

    LONDON, Oct 17- A key pan-European equity index posted its biggest daily gain in three years on Friday as stronger U.S. data fueled a rebound from recent sharp losses and speculation about monetary easing stabilized lower-rated euro zone bonds. The index extended gains after a widely followed survey showed U.S. consumer sentiment rose in October to the highest...

  • Greek eyes precautionary credit line after bailout Friday, 17 Oct 2014 | 10:22 AM ET

    ATHENS, Greece— Greece's prime minister said his government is in talks with rescue lenders over a possible precautionary credit line to ease the country's exit from its 240 billion euro bailout program. Antonis Samaras, speaking to reporters Friday at a summit in Milan, said the credit line was "an item negotiation." He did not clarify whether the credit line...

  • IMF: Market sell-off may have been 'over-reaction' Friday, 17 Oct 2014 | 10:04 AM ET

    PARIS— The head of the International Monetary Fund says market turmoil this week may have been an "over-reaction," as leading economic figures met to discuss Friday the global economy and worries about another recession in Europe. Reforms in France are also on the agenda at Friday's meeting in Paris, in a country crippled by flat growth and high unemployment.

  • Europe's top powers deadlocked as economy sinks Friday, 17 Oct 2014 | 9:26 AM ET

    FRANKFURT, Germany— Europe's economy needs help— fast. Yet the two powers that could take action, the European Central Bank and Germany, don't see eye to eye about what to do. A sudden decline in exports and industrial activity in Germany, long the region's source of growth, heightened those concerns.

  • BOSTON, Oct 17- Federal Reserve Chair Janet Yellen said on Friday the growth of economic inequality in the United States "greatly" concerned her, and suggested in a detailed speech on the politically charged issue that Americans should ask whether it was compatible with their values. With global financial markets rebounding from days of frenzied selling,...

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