Connect to share and comment

Eurozone deficits improve, debt mounts

Eurozone public finances improved in 2013 as the economy finally turned the corner on a record recession but total debt levels remained dangerously high, official data showed on Wednesday. The average eurozone government deficit -- the shortfall between revenue and spending -- came in at 3.0 percent last year, in line with the EU ceiling and down from 3.7 percent in 2012, the Eurostat statistics agency said. Total accumulated debt, however, increased to 92.6 percent of gross domestic product, up from 90.7 percent and compared with the European Union 60-percent limit.

Poland needs strong economy to benefit from euro zone entry: finance minister

WARSAW (Reuters) - All benefits that Poland may be able to get from a euro zone entry, including boosting its political stature in Europe, hinge on the country being economically strong, Finance Minister Mateusz Szczurek was quoted as saying on Wednesday. The minister's comments echoed those of the prime minister, who said last month that Poland will not rush to join the euro zone just because of the crisis in Ukraine.

French PM under party pressure to tweak deficit plan

By Nicholas Vinocur PARIS (Reuters) - French Prime Minister Manuel Valls will discuss tweaking a major deficit-reduction program on Tuesday with Socialist lawmakers who want to reduce cutbacks for low-income pensioners, a day before it is due be presented to parliament. The newly appointed prime minister unveiled the breakdown last week of a 50-billion-euro ($69 billion) plan to curb state spending in several areas as France struggles to bring its deficit below an EU target of 3 percent of GDP by end-2015.

Asian shares mixed after Easter break

Asian markets were mixed on Tuesday, in the first full day's trade after the Easter break, with Wall Street providing another strong lead. The dollar eased slightly against the yen after rallying on Monday in response to Japan posting another massive trade deficit. Tokyo gave up early gains as the yen reversed course against the dollar, with the Nikkei ending 0.85 percent lower, giving up 123.61 points to finish at 14,388.77, but Sydney gained 0.46 percent, or 25.1 points, to 5,479.3, while Seoul added 0.25 percent, or 5.00 points, to 2,004.22.

Asian shares mixed in holiday-thinned trade

Asian markets were mostly lower in Easter holiday trade Monday, with Japan's Nikkei giving up early gains despite a weaker yen as data showed the country's trade deficit quadrupled in March. Chinese shares slipped on fears over the economy as well as liquidity after authorities unveiled a list of 28 firms that have filed for initial public offerings (IPOs).

Asian shares mixed in holiday-thinned trade

Asian markets were mixed in Easter holiday-hit trade Monday, with Japan's Nikkei rallying on the back of a weaker yen as data showed the country's trade deficit quadrupled in March. Tokyo rose 0.83 percent and Singapore added 0.24 percent, while Shanghai was 0.53 percent lower and Seoul eased 0.25 percent. Hong Kong, Sydney and Wellington were closed for the Easter holidays.

Portugal's clean bailout exit more likely after Greek bond success: Eurogroup head

By Jan Strupczewski WASHINGTON (Reuters) - Greece's success in tapping markets on Thursday raise the chances that Portugal will not need a precautionary credit line when it exits the euro zone bailout in mid-May, the head of euro zone finance ministers, Jeroen Dijsselbloem, said on Friday. Athens, which had been locked out of capital markets for four years and was bailed out with 240 billion euros ($333 billion) as its economy faltered, issued a bond on Thursday and received bids seven times the amount on offer.

Asian shares slip after Wall St rout

Asia's markets fell on Friday following hefty plunges on Wall Street as US technology stocks suffered another sell-off, while China released data showing inflation picked up in March but was still below forecasts. Tokyo led the decline, plunging 2.38 percent, or 340.07 points, to 13,960.05 -- its lowest close in six months, while Seoul lost 0.56 percent, or 11.17 points, to 1,997.44 and Sydney shed 0.95 percent, or 52.15 points, to 5,428.6.

Asian tech stocks plunge as sell-off that began on Wall Street proves contagious

HONG KONG - Internet and technology stocks tumbled across Asia on Monday as a sell-off spread from Wall Street where investors knocked down such companies over worries about excessively high valuations. Mainstays of the Internet economy such as Google and Netflix that have surged over the past year were hammered on Friday as investors had a change of heart and decided prices were too high. The technology-heavy Nasdaq had its biggest one-day drop since February.

German factory orders rise again in February in latest sign Europe's largest economy growing

BERLIN - German factory orders rose in February in the latest sign that Europe's largest economy is picking up speed. The Federal Statistical Office said Friday new orders rose 0.6 per cent over January, when adjusted for calendar and seasonal factors. Domestic orders rose 1.2 per cent while foreign orders increased 0.2 per cent. New orders from other nations using the euro currency rose a robust 5.9 per cent, offsetting a decline of 3.1 per cent of orders from non-eurozone countries.
Syndicate content