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  • NAPLES, Italy, Oct 2- European Central Bank President Mario Draghi said on Thursday it was quite understandable that Euroscepticism was growing in the European Union given that the economy was weak. At a news conference in Italy after the ECB had held rates steady, Draghi said: "It's very understandable that people are Eurosceptical because things are not going...

  • *Interest rates on hold at record lows. NAPLES, Italy, Oct 2- The European Central Bank will buy bundles of loans and other forms of secured debt from mid-month in an attempt to kick start a languishing euro zone economy, despite misgivings in Germany and elsewhere. President Mario Draghi said the ECB would begin to buy covered bonds, a form of secured debt, from banks...

  • ECB's Draghi reveals details of asset purchase plan Thursday, 2 Oct 2014 | 9:32 AM ET
    ECB President Mario Draghi

    ECB President Mario Draghi revealed the central bank's new stimulus measures will "significantly" impact its balance sheet.

  • ECB live blog: Draghi in spotlight; no QE hints yet Thursday, 2 Oct 2014 | 9:21 AM ET
    Anti-riot police clash with anti-austerity protesters in Naples

    Anti-austerity protesters took to the streets in Naples as the ECB leaves rates unchanged. Draghi's press conference is now in focus.

  • NEW YORK, Oct 2- U.S. Treasuries posted their best day since last September 2013 on Wednesday as U.S. bond yields were dragged down by rallying German government debt, weak manufacturing data in Europe and Asia and concerns over how quickly the Ebola virus may spread. "Yesterday there was pretty strong short covering, a lot of people want to be short going into...

  • MOSCOW, Oct 2- President Vladimir Putin dismissed Western sanctions as "utter foolishness" on Thursday and said they would not stop Russia developing into a stronger economic power. Addressing financiers worried about the weakening economy, capital flight and a possible increase in state intervention, he said Russia was well placed to weather the storm.

  • BoE asks government for more powers over housing Thursday, 2 Oct 2014 | 8:35 AM ET

    The Bank of England gave a clean bill of health to Britain's controversial flagship mortgage guarantee scheme on Thursday.

  • UPDATE 1-Maserati sees sales topping 35,000 this year Thursday, 2 Oct 2014 | 8:24 AM ET

    PARIS, Oct 2- Maserati expects to sell more than 35,000 cars this year and reach its 50,000 sales target in 2015, subject to the availability of a new sport utility vehicle to be launched late next year, the head of the brand said on Thursday. "For the end of the year we will be significantly beyond 35,000, but not beyond 40,000," Harald Wester told Reuters in an...

  • Angry Birds maker Rovio to cut jobs Thursday, 2 Oct 2014 | 8:23 AM ET

    HELSINKI— Mobile game developer Rovio Entertainment Ltd. says it plans to cut some 16 percent of its workforce amid signs that its Angry Birds game is losing some of its luster. CEO Mikael Hed said Thursday in a statement that Rovio expects to cut up to 130 jobs in Finland as the company had been building its team on assumptions of "faster growth than have...

  • LONDON, Oct 2- The euro retained its small gains against the dollar on Thursday but remained near a two-year low after the European Central Bank kept interest rates unchanged at historic lows as expected. Investors are now awaiting a news conference at 1230 GMT at which the bank's President Mario Draghi is expected to give further details of the ECB's plan to buy...

  • NEW DELHI/ MUMBAI, Oct 2- Subrata Roy, the jailed head of India's Sahara conglomerate, is back in a cell after living in a makeshift prison office for two months while working on the sale of three luxury hotels in New York and London, a deal that is still hanging. India's top court had allowed the tycoon to use an office, phone, Internet connection and three secretaries in...

  • Wonga agrees to write off debts for thousands Thursday, 2 Oct 2014 | 8:02 AM ET

    LONDON— Payday lender Wonga has agreed to write off the debts of 330,000 people it admits shouldn't have gotten loans in the first place. Britain's biggest payday lender announced the move Thursday after striking an agreement with the Financial Conduct Authority which will require significant changes in the way it does business. The customers affected are...

  • LONDON, Oct 2- British grocer Morrisons will launch its first customer loyalty card on Friday, aiming to win back market share with a scheme that provides a price match guarantee against discounters Aldi and Lidl as well as its traditional rivals. Bradford, northern England- based Morrisons, which trails market leader Tesco, Wal-Mart's Asda and J Sainsbury,...

  • Europe off session lows as ECB holds rates Thursday, 2 Oct 2014 | 7:51 AM ET
    RANKFURT/MAIN, Germany: A trader sitting in front of a chart displaying German share index DAX gestures as he speaks on the phone

    European shares were lower but clawed back some losses as investors awaited a press conference with Mario Draghi, the president of the European Central Bank (ECB).

  • Greenland calls for early elections next month Thursday, 2 Oct 2014 | 7:51 AM ET

    COPENHAGEN, Denmark— Greenland has called for early elections next month after four government members quit and the prime minister went on leave amid a scandal involving the use of public funds. Prime Minister Aleqa Hammond decided to take a leave of absence until an investigation is completed into her alleged private spending of public funds worth more than...

  • NAPLES, Italy, Oct 2- The European Central Bank left interest rates unchanged on Thursday, shifting focus to an asset-buying plan with which it hopes to revive the flagging euro zone economy and see off the specter of deflation. After cutting rates last month to what ECB President Mario Draghi said was "the lower bound," the ECB left its main refinancing rate at 0.05...

  • NAPLES, Italy— European Central Bank leaves benchmark rate unchanged at record low 0.05 percent.

  • *VW doubts return to pre-crisis sales in Europe. *Ford says momentum in Europe has flattened a bit. Other executives shared his caution, particularly over Europe where a six-year sales slump has left demand around 20 percent below pre-crisis levels and sluggish economies have put a question mark over whether the gap will close anytime soon.

  • Putin: state will support sanctions-hit sectors Thursday, 2 Oct 2014 | 7:26 AM ET

    MOSCOW— Russian President Vladimir Putin says the state will offer support to sectors of the economy that have been hit by international sanctions, but says the country in general is unconcerned about the sanctions' consequences. Putin said Thursday the sanctions, imposed by the United States, the European Union and others over Russia's role in the Ukraine...

  • *JPMorgan is top-ranked bank for fees. LONDON, Oct 2- Increased deal activity in the first nine months of the year has netted investment banking advisers $68.8 billion in fees, 13 percent more than they earned a year earlier, new data showed on Thursday. The end of the third quarter featured Chinese e-commerce company Alibaba's $25 billion initial public offering,...