ATHENS, Greece— Greece's new radical left government has shot the first salvo in what is expected to be a tough clash with fellow eurozone countries over budget cuts that Athens says are choking the life out of its economy. The hard line prompted a quick warning from the European Union and sent local investors into a panic on the prospect that the country might get...» Read More
CRUDE FUTURES DROP $1 TO $96.59/ BBL AS AMPLE SUPPLY, WEAK EUROPEAN ECONOMIC DATA APPLY PRESSURE.
*Germany surprises by slipping into contraction. *France flatlines, government rips up growth forecast. BERLIN/ PARIS, Aug 14- Germany's economy shrank in the second quarter and France again managed to conjure up no growth, data showed on Thursday, snuffing out any signs of a recovery in the euro zone which is now weighed down by tit-for-tat sanctions with Russia.
FRANKFURT, Aug 6- European Central Bank President Mario Draghi held talks with incoming European Commission chief Jean-Claude Juncker on Wednesday, against the backdrop of a debate among euro zone policymakers about their fiscal rules.
A rescue program agreed for Cyprus on Monday represents a new template for resolving euro zone banking problems, the head of the region's finance ministers said.
Michael McCarthy, Chief Market Strategist, CMC Markets says that the current market pull-back is an opportunity to buy stocks. But investors should practice caution.
China’s economic slowdown is not good for the U.S., as exports to China create jobs for Americans. And economists doubt that China will return to its previous growth rates, the Fiscal Times reports.
Adrian Mowat, JPMorgan chief Asian equity strategist, provides perspective ahead of China's latest GDP figures and discusses whether the country's economy is headed for a hard landing.