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CNBC's Simon Hobbs reports on all the market moving events in Europe today, including
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CNBC's Simon Hobbs reports on all the market moving events in Europe today, including
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*China second to U.S. in 2012 luxury retail growth. *Top brands expanding across the United States. Ephraim is the kind of man who gives luxury goods makers high hopes that the U.S. market can fuel future growth, as China runs out of steam and demand in Europe sags.
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BERLIN, May 24- Germany's economy will recover from a bout of winter weakness but fall well short of the dynamic growth rates of previous years as euro zone recession and global slowdown stunt exports and investment.
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CNBC's Ross Westgate reports on all the market moving events from Europe, including
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BERLIN- German business sentiment rises far more than expected in May, rebounding after two consecutive falls and suggesting Europe's largest economy is picking up steam after posting anaemic growth in the first quarter. ( GERMANY- ECONOMY/, expect by 0930 GMT/ 5.30 AM ET, by Sarah Marsh, 600 words).
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*Gold on track for strongest week in a month. SINGAPORE, May 24- Gold rose on Friday and stayed on track for its strongest week in a month after a U.S. Gold edged up this week as investors sought its safe-haven status after the dollar and equity markets were hit by factory data from China and the United States that showed the pace of manufacturing had slowed.
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*Pentagon report shows $4.5 bln drop in F-35 cost. WASHINGTON, May 23- The Pentagon on Thursday told Congress it expected a 1 percent drop in the cost of its biggest weapons program, the Lockheed Martin Corp. F-35 fighter jet, while averting the huge cost increases seen on other weapons programs in recent years.
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WASHINGTON, May 23- The Pentagon's annual report to Congress shows a decline of $4.5 billion, or just over 1 percent, in the projected development and acquisition cost of the Lockheed Martin Corp F-35 fighter jet program, sources familiar with the data said on Thursday.
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NEW YORK, May 23- We are living in the age of the technocrats. From Washington to Frankfurt to Rome, technocrats have stepped in where politicians feared to tread, rescuing economies, or at least propping them up, in the process.
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*Telecom Italia puts value of network at 13- 15 bln euros. MILAN, May 23- Telecom Italia has pushed to the end of the month a decision on whether to spin off its fixed-line access network, which is proving more complex than expected due to political and regulatory considerations.
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BRUSSELS, May 23- The European Commission has torn up new rules on how restaurants should serve olive oil less than a week after unveiling them, following widespread ridicule and accusations of unwanted interference.
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CNBC's Simon Hobbs reports on all the market moving events in Europe today, including
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*Move follows accusations of interference by Brussels. BRUSSELS, May 23- The European Commission has decided to tear up new rules on how restaurants should serve olive oil less than a week after unveiling them, following widespread ridicule and accusations of unwanted interference.
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Kelvin Blacklock, CIO at Eastspring Investments says the markets that have moved up recently are those that have seen strong earnings growth. He says these defensive markets are looking expensive while the cyclicals appear cheap.
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LOS ANGELES, May 22- Caesars Entertainment Group said it plans to go live this summer with an online poker site in Nevada, the only U.S. state so far to offer legal Internet gambling, and will promote the nascent service to thousands of poker players at its World Series of Poker tournament in Las Vegas starting May 29.
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ROME/ MILAN, May 22- Milan prosecutors are investigating the chairman of Italian steel group Riva for tax evasion and police have seized 1.2 billion euros of cash from a tax haven, judicial sources said on Wednesday. Emilio Riva, whose company controls Europe's largest steel plant in southern Italy, is being probed along with his brother Adriano, the sources said.
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ROME, May 22- Italy's new government, already sinking in opinion polls and riven by internal disputes, on Wednesday began preparing a plan to address one of the main causes of public anger- soaring unemployment among young people.
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VATICAN CITY, May 22- The Vatican's new financial watchdog said on Wednesday it had detected six possible attempts to use the Holy See to launder money last year, citing this as proof of its commitment to transparency.
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*Favourable market conditions may be temporary- Moody's.
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CNBC's Ross Westgate reports on all the market moving events from Europe, as investors look for signs from the Fed's Bernanke on whether the current stimulus program will be tapered.