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Europe: Economy

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  • *China activity surveys hint at some leveling out, no rebound. SYDNEY, July 1- Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth. Wednesday's data fueled expectations...

  • *Asia holds nerve as Greece misses IMF loan payment. SYDNEY, July 1- Asian shares made guarded gains on Wednesday as investors gave a resigned shrug to news Greece had become the first developed economy to default on a loan with the International Monetary Fund. Calming after two days of wild swings, MSCI's broadest index of Asia-Pacific shares outside Japan...

  • LAUNCESTON, Australia, July 1- "New normal" is a term coined about China's transition to slower but hopefully more sustainable economic growth, but it can be equally applied to many commodity markets. The big picture is that Australia is receiving less money for its commodity exports, with the value dropping 11 percent to A $174 billion in the 2014-15 fiscal year...

  • Even with a 'no' vote, Greek saga won't end: Pro

    Even if the Greeks vote "no" in the referendum, it won't lead to a definite "Grexit" and negotiations could still go on for 6-9 months, says Neil Dwane, CIO-Equity Europe at Allianz Global Investors.

  • TOKYO— Asian shares rose on Wednesday as investors watched to see the next step as Greece fell into arrears after failing to make a debt repayment on Tuesday. GREECE DEBT CRISIS: Greece's European bailout program ended Tuesday at midnight without an extension or a new deal with creditors and the government failed to make a payment of about 1.5 billion euros due...

  • Greek contagion risks likely to be limited: CIMB

    Arup Raha, chief economist at CIMB, says a Greek contagion is unlikely due to the ECB's massive bond-buying program and the fact that Europe had years to prepare for a "Grexit."

  • SYDNEY/ TOKYO, July 1- The euro slipped in Asia on Wednesday with Greece's fate still hanging in the balance after it became the first advanced economy to ever be in arrears to the International Monetary Fund. It has been choppy between $1.0955 and $1.1279 this week in reaction to ever-changing developments in Greece. The International Monetary Fund on Tuesday...

  • Are the ultra-rich unnerved by Greece? Not really: UBS

    Josef Stadler, head of Global Ultra High Net Worth (UHNW) at UBS, says the ultra-wealthy around the world are not overly worried over Greece which has a limited contagion risk.

  • TOKYO, July 1- Japanese manufacturing activity barely expanded in June despite a strong pick-up in export demand, a private survey showed on Wednesday, adding to fears of a sharp slowdown in economic activity in the second quarter. The Nikkei/ Markit/ final Japan Manufacturing Purchasing Managers Index was 50.1 in June, higher than a preliminary reading of 49.9.

  • Pro-bailout supporters rally in Athens

    Thousands of people rallied in Athens on Tuesday in support of a bailout deal with the country's international creditors. CNBC's Julia Chatterley reports.

  • Pro-Euro protestors attend a rally in front of the parliament building, in Athens, Greece, June 30, 2015.

    Tens of thousands of Greeks rallied in Athens as Greece defaulted on its 1.5 billion euro IMF repayment, fueling fears the country will exit the euro zone.

  • Markets 'too complacent' over Greece: Seymour

    Markets are expecting the Greeks to vote "yes" in the July 5 referendum and even if a "no" vote materializes, the contagion will be under control, says Tim Seymour, CIO at Triogem Asset Management.

  • SYDNEY, July 1- The euro got off to a cautious start in Asia on Wednesday with Greece's fate still hanging in the balance after it became the first advanced economy to ever be in arrears to the International Monetary Fund. It has been choppy between $1.0955 and $1.1279 this week in reaction to ever-changing developments in Greece. The International Monetary Fund...

  • For Greece, there's no light at the end of tunnel: Pro

    With or without a deal, Greece remains in a tough spot, says Austan Goolsbee, professor of Economics at University of Chicago's Booth School of Business.

  • Avoid the euro before July 5: Strategist

    David Rodriguez, quantitative strategist at DailyFX, advises investors to avoid the euro given the extreme uncertainty ahead of the July 5 referendum in Greece.

  • Greece can't pull off a referendum, says this expert

    Steve Hanke, co-director of the Institute for Applied Economics, Global Health, and the Study of Business Enterprise at The Johns Hopkins University in Baltimore, questions Greece's ability to hold a referendum on July 5.

  • WASHINGTON, June 30- The International Monetary Fund on Tuesday confirmed Greece had not made its 1.5 billion euro loan repayment to the Fund, making it the first advanced economy to ever be in arrears to the Fund. IMF spokesman Gerry Rice said Greece can now only receive further IMF funding once the arrears are cleared. Rice confirmed that Greece had asked for a...

  • Will Greece derail Fed's rate hike?

    Pete Benson, partner at Beacon Capital Management, explains whether the Greek crisis could change the Fed's timeline for raising interest rates.

  • But within a year from a sharp devaluation in early 2002 the country returned to economic growth- something that Greece must now crave, with its economy shrinking by more than 25 percent since 2009.. On Tuesday, German Chancellor Angela Merkel ruled out new negotiations with Greece until after it votes on a bailout proposal by creditors. That left Athens...

  • Don't sweat Greece? 10 Hours Ago
    Don't sweat Greece?

    Stephanie Flaunders, JPMorgan chief market strategist, shares her forecast for the worst case scenario in the markets regarding Greece's debt crisis.

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