Connect to share and comment

Dollar shines as Fed signals tapering of bond buying

June 9, 2013 21:32
By Hideyuki Sano TOKYO (Reuters) - The U.S. dollar rose broadly on Thursday after the Federal Reserve signaled it would begin to dial down stimulus this year as the economic outlook improves. The Australian dollar and emerging Asian currencies fell sharply as traders speculated that higher U.S. bond yields down the road would prompt investors to shift some of their funds back to the United States from high-yielding currencies.

Germany agrees financing of 8 billion euro flood aid fund

June 20, 2013 00:11
BERLIN (Reuters) - Germany has agreed the financing of an 8-billion euro fund to help repair damage caused by the worst flooding in a decade, with both the federal government and states footing the bill, the finance ministry said on Wednesday. The federal government at the outset will itself raise the full amount for the so-called "reconstruction aid" fund because of initial disagreement with the states on how the 16 regions would contribute their share of the cost.

Analysis: Half-way to lost decade, Europe's growth task as tough as ever

June 20, 2013 00:05
By Alan Wheatley, Global Economics Correspondent LONDON (Reuters) - Half-way towards a lost decade for Europe's economy, pessimism persists about the political will to halt a worrying slide in the region's potential growth. Without sweeping reforms to boost productivity, Europe's output will remain sub-par, making it harder for governments to reduce debt burdens that are unsustainable financially and unemployment rates that are unsustainable socially.

Sweden reveals sale of 6.4% of Nordea for 2.27 bn euros

Agence France-PresseJune 19, 2013 08:00
Sweden's centre-right government said on Wednesday it had sold 6.4 percent of Nordea, the largest Nordic bank, for 19.5 billion kronor (2.27 billion euros, $3.05 billion). The sale reduces the state's holding to 7.0 percent and will help to reduce national debt which is relatively low by European Union standards. The stake was sold at an auction held for Swedish and international institutional investors, for 75 kronor per share.

World markets mostly down as investors await Fed meeting's results

The Canadian PressJune 19, 2013 01:31
SEOUL, South Korea - Global stock markets were mostly lower Wednesday as investors waited for an update on the U.S. economy from the Federal Reserve. Investors were waiting to see if the Fed, which wraps up a two-day policy meeting later in the day in Washington, will make changes to its strategy of super-low interest rates and easy money that is helping to shore up the U.S. economy. Any change is likely to ripple through stock markets.

Cyprus leader slams bailout terms in appeal for help

Agence France-PresseJune 18, 2013 16:00
Cypriot President Nicos Anastasiades has sharply criticised the terms imposed for a March debt bailout in a letter to eurozone leaders pleading for help in safeguarding the island's biggest lender. In the leaked letter he sent last week, Anastasiades charged that eurozone leaders had treated the island unjustly in their concern to avoid further contagion to the much larger Greek economy.

Euro zone must agree bank recaps on Thursday: EU's Rehn

June 18, 2013 13:31
PARIS (Reuters) - Euro zone finance ministers must hammer out an agreement at a meeting later this week over how to recapitalize banks, the European Union's top economic official said on Tuesday. The bloc's leaders agreed in June 2012 that the European Stability Mechanism, which has a lending capacity of 500 billion euros ($667 billion), should be able to directly recapitalize stricken banks if a government is unable to do so.

European car sales hit lowest mark for May in 20 years

The Canadian PressJune 18, 2013 04:31
MILAN - European car sales had their worst May in 20 years as the region's recession drags on, the European automakers' association said Tuesday. Passenger car demand for May dropped by 5.9 per cent on the same month last year in the 27-country European Union to 1.042 million units, the lowest level for that month since 1993 when sales dropped below 1 million, according to new figures released by ACEA. For the first five months of the year, sales dropped 6.8 per cent to 5.07 million.

Strong trade data offers EU light at end of the tunnel

Agence France-PresseJune 17, 2013 07:31
The European Union posted a strong set of trade figures in April, boosting hopes that the economy is turning the corner after months in the doldrums, official figures showed on Monday. The 17-nation eurozone had a trade surplus of 14.9 billion euros ($20.0 billion) in April, down from a record 22.5 billion euros in March but still strong enough to suggest the economy will escape recession in the three months to June.

EU demands tough reforms but gives France, Spain extra time

Agence France-PresseJune 14, 2013 22:27
The European Commission laid down its economic targets Wednesday for EU nations desperately seeking growth and jobs in the fallout from the debt crisis but gave France and Spain extra time in return for deeper reforms. The debt crisis has seen Brussels gain additional powers to ensure EU member states toe the line to avoid future trouble -- just as well, when 20 of the 27 were under surveillance for breaching the bloc's public deficit and debt limits, respectively at three percent and 60 percent of gross domestic product (GDP).
Syndicate content