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France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.
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France has a special responsibility as a euro zone heavyweight to take deficit cuts seriously, even though its budget deficit is above target, Bundesbank chief Jens Weidmann said in an interview published Sunday.
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BERLIN, May 19- France has a special responsibility as a euro zone heavyweight to take deficit reduction rules seriously, even though its budget deficit is above target, Bundesbank President Jens Weidmann said in an interview published on Sunday.
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PARIS, May 18- More than 8,000 French households' tax bills topped 100 percent of their income last year, the business newspaper Les Echos reported on Saturday, citing Finance Ministry data. The newspaper said that the exceptionally high level of taxation was due to a one-off levy last year on 2011 incomes for households with assets of more than 1.3 million euros.
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PARIS, May 18- Chinese, South Korean and Spanish firms are vying to develop a hydropower project likely to cost between $9 billion and $14 billion on the Congo River, Congolese officials said on Saturday.
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ZURICH, May 18- Switzerland is on the brink of a deal to settle a long-running dispute with U.S. authorities over Swiss banks accused of helping wealthy Americans evade billions of dollars of tax, the finance minister said on Saturday. "We hope that we will shortly be at the finishing line," Eveline Widmer-Schlumpf told Swiss radio in an interview. "
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PARIS, May 18- France has received approval from the U.S. With its current hardware increasingly outdated, France is urgently trying to build up a modern fleet of drones for surveillance operations in countries such as Mali.
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BRUSSELS, May 18- Critics ridiculed European Union bureaucrats on Saturday for taking time off fighting the euro zone's debt crisis to impose strict new rules on how restaurants serve olive oil. "If the European Union was logical and properly run, people wouldn't be so anti- Europe.
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Switzerland is set to bow to years of pressure from the EU by overhauling the system of tax privileges that has helped entice thousands of multinational firms to the country.
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NEW YORK, May 18- Europe's top trade official for the first time late on Friday officially cited Chinese mobile telecommunications equipment makers Huawei and ZTE Corp for violating anti-dumping and anti-subsidy guidelines.
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Olli Rehn, the European Union's top economic policy maker and scourge of debt-fueled budget deficits, is fed up with austerity.
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May 17- In the nearly five years since the worst financial crash since the Great Depression, the remedy for the world's economic doldrums has swung from full-on Keynesianism to unforgiving austerity and back.
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LONDON/ WASHINGTON, May 17- A European probe into possible oil price manipulation expanded with the investigation of a small niche trading house in the Netherlands and a key U.S. senator on Friday called for the Justice Department to join the investigation.
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ZUG, Switzerland, May 17- Transocean Ltd said shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.
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ZUG, Switzerland, May 17- Transocean Ltd said shareholders voted out Chairman Michael Talbert at the annual meeting on Friday and backed a nominee of activist investor Carl Icahn to replace him on the board of the world's largest offshore drilling contractor.
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LONDON, May 17- The coveted investment grade rating has arrived in Turkey and foreign capital may follow- possibly a lot of it. An investment grade rating, which Moody's gave Turkey on Thursday, potentially opens Turkey to more conservative funds. "This could bring a whole new investor base to Turkey," says Tim Ash, head of emerging markets research at Standard Bank.
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LONDON, May 17- A rally in auto stocks and strong U.S. data helped European shares set a 5- year high on Friday and record their fourth consecutive weekly gain, with cyclical shares leading risers.
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LONDON, May 17- The coveted investment grade rating has arrived in Turkey and foreign capital may follow- possibly a lot of it. An investment grade rating, which Moody's gave Turkey on Thursday, potentially opens Turkey to more conservative funds. "This could bring a whole new investor base to Turkey," says Tim Ash, head of emerging markets research at Standard Bank.
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German ECB board member Joerg Asmussen warned on Friday that Europe's largest economy must carry out further reforms to continue to grow.
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May 17- The 3.5 percent gross domestic product growth announced by Tokyo on Wednesday suggests that Japan may be the fastest-growing economy in the G7. All these events appear linked to the election of Shinzo Abe and the regime he has installed at the Bank of Japan.
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"It is my responsibility as the leader of a founder member of the European Union... to pull Europe out of this torpor that has gripped it, and to reduce people's disenchantment with it," Hollande said, casting himself as something of a saviour. "If Europe stays in the state it is now, it could be the end of the project."