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Archive Europe: Economy

  • Donald Trump's view of world trade will be challenged next week when he visits the World Economic Forum at Davos, judging by a paper seen by Reuters on Wednesday that is aimed squarely at his "America First" stance. "A widely held view is that a country's trade balance is a key measure of its international commercial success," said co-authors Harvard professor...

  • GENEVA— A survey by the World Economic Forum finds that more than nine in 10 experts are worried about worsening economic or political confrontation between world powers, amid a trend toward "charismatic strongman politics." "Global risk, nowadays, are so interconnected that they can threaten the very systems on which our societies, economies, and international...

  • LONDON— Burberry shares are down over 6 percent in early trading after the luxury fashion house reported disappointing retail sales for the holiday season. That "looks a bit drab" compared with the 7 percent growth reported Tuesday by rival Hugo Boss, according to London- based stockbroker Hargreaves Lansdown. Steve Clayton, an analyst at Hargreaves Landsown,...

  • *Survey comes a week before Trump heads to Davos. BERLIN, Jan 17- The risk of political and economic confrontations between major powers, including outright military conflicts, has risen sharply, according to a survey released by the World Economic Forum days before its annual gathering in Davos. President Donald Trump and North Korean leader Kim Jong Un that has...

  • **LONDON- BOE Member of Monetary Policy Committee Michael Saunders: Launch of Financial Intermediary and Broker Association 1145 GMT. WASHINGTON- Senate Banking Committee holds a vote on the nomination of Jerome Powell to be chairman of the Federal Reserve 1500 GMT. PALM BEACH- Federal Reserve Bank of Chicago President Charles Evans and Federal Reserve Bank of...

  • BERLIN/ FRANKFURT, Jan 16- Tens of thousands of German industrial workers downed tools on Tuesday in support of trade union IG Metall's demands for a 6 percent pay rise and a right to the first new cut in weekly working hours since the 1980 s. With Europe's largest economy steaming ahead and unemployment at a record low, Germany's biggest trade union is confident of...

  • Losses by industrial and technology companies helped pull U.S. stocks lower Tuesday, pulling the market back from its latest record highs. The slide erased some of the gains from a broad rally earlier in the day that had sent the Dow Jones industrial average past the 26,000- point threshold for the first time. "We've come perhaps a little bit too far, too fast," said...

  • The sun sets behind a construction crane showing the branding of British construction company Carillion photographed on a building site in central London on January 15, 2018, with the skyline of the British capital in the background including the London Eye and the Houses of Parliament.

    CNBC takes a look at some of the joint ventures that may be most affected by Carillion's collapse.

  • MOSCOW— Russian President Vladimir Putin's economic adviser says the government is considering a possible boost in social spending. Andrei Belousov was quoted by Russian news agencies as saying that the government is considering increasing allocations for education, health care and infrastructure. Alexei Kudrin, the former finance minister and...

  • BERLIN, Jan 16- Some 10,000 workers at German carmaker Daimler AG walked off their shifts for an hour on Tuesday as they sought to persuade employers to give engineering workers around Germany more pay and a shorter working week. With Europe's largest economy steaming ahead and unemployment at a record low, IG Metall- Germany's biggest trade union- is calling for...

  • President Donald Trump will deliver the closing address at the elite World Economic Forum conference in Davos next week, which focuses on "finding ways to reaffirm international cooperation on crucial shared interests," forum organizers announced Tuesday. Ten heads of state or government from Africa, nine from the Middle East and North Africa, and six from...

  • FRANKFURT, Germany— Europe is preparing to find successors for many of its most powerful economic officials, including the influential head of the European Central Bank. Current ECB President Mario Draghi, for instance, pushed through a bond-market program that was credited with defusing Europe's crisis over too much debt in 2012. He also advocated a stimulus...

  • BERLIN, Jan 16- Germany's current account surplus was the world's largest in 2017, the Munich- based Ifo economic institute said on Tuesday, unveiling a record high reading likely to renew criticism of the economic and fiscal policies in Europe's largest economy. The International Monetary Fund and the European Commission have for years urged Germany to lift...

  • LONDON— The inflation rate in Britain dipped in December for the first time in six months, partly due to a fall in the price of games and toys in the run-up to Christmas, official figures showed Tuesday. Inflation in Britain spiked sharply higher after the country voted to leave the European Union in June 2016, a decision that saw the pound tank.

  • **WASHINGTON- Senate Banking Committee holds a vote on the nomination of Jerome Powell to be chairman of the Federal Reserve 1500 GMT. PALM BEACH- Federal Reserve Bank of Chicago President Charles Evans and Federal Reserve Bank of Dallas President Robert Kaplan participate in a moderated discussion on current economic conditions and monetary policy before...

  • LONDON, Jan 15- The Bank of England probably has "ample time" before it needs to consider raising interest rates again after its first rate hike in more than a decade in November, BoE policymaker Silvana Tenreyro said on Monday. The Argentinean-born economics professor, who joined the BoE last year, was among the seven members of the central bank's nine-strong...

  • PARIS— France's finance minister says he wants new regulation targeted at virtual currencies, to stop them from being used for tax evasion, financing terrorism and other crime. Bruno Le Maire said in a sweeping economic speech Monday that he has ordered a former central bank chief to draft potential new rules, warning against the "risks of speculation and...

  • LONDON, Jan 15- A stand-off between Britain and the European Union over the future of London's vast financial services industry is shaping up as one of the key Brexit battlegrounds of this year. Dubbed the Norway option, if Britain joined the European Economic Area it would have access to the EU single market in return for accepting free movement of EU citizens,...

  • *Euro extends gains after breaking through $1.22. LONDON, Jan 15- The euro rose to a three-year high against the dollar on Monday, fuelled by growing economic optimism in the euro zone and expectations that the European Central Bank will tighten monetary policy. Speculators boosted net long positions in the euro to a record high in the week to Jan. 12, according to...

  • EDINBURGH, Jan 15- Scotland will suffer an 8.5 percent hit to the size of its economy by 2030 if Britain leaves the European Union with no trade deal, the Scottish regional government said as it upped its calls for Britain to stay in the EU's single market. Business investment in Scotland could fall by up to 10.2 percent, compared with continued membership of the EU,...

Contact Europe: Economy

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