Business - European Economy

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  • Opposition party appears to win Bulgaria's vote

    AP – 18 mins ago

    SOFIA, Bulgaria - Bulgaria's right-wing opposition party won Sunday's parliamentary election by a wide margin over the corruption-tainted governing Socialist coalition, according to two exit polls.

  • Vatican runs deficit amid economic crisis

    AP – Sat Jul 4, 12:32 pm ET

    VATICAN CITY - The Vatican said Saturday it ran a deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis.

  • Pope urges G8 leaders to act on crisis

    AP – Sat Jul 4, 10:34 am ET

    VATICAN CITY - Pope Benedict XVI has urged G-8 leaders meeting in Italy next week to rewrite global financial rules and defend the world's poor from the effects of the economic downturn, the Vatican said Saturday.

  • AP – Sat Jul 4, 8:24 am ET

    VATICAN CITY - Pope urges G-8 leaders to rewrite financial rules, defend world's poor from economic crisis.

  • European stocks calm as US readies for 4th of July

    AP – Fri Jul 3, 12:34 pm ET

    LONDON - European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.

  • FTSE extends losses, falls 0.25%

    AFP – Fri Jul 3, 8:19 am ET

    LONDON (AFP) - The FTSE 100 weakened further on Friday after sliding a day earlier on news of greater-than-expected job losses in the United States.

  • Global stocks dip as investors cautious on recovery

    Reuters – Fri Jul 3, 7:22 am ET

    LONDON (Reuters) - World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.

  • Analysis: Russia plays checkbook diplomacy

    AP – Fri Jul 3, 6:49 am ET

    MOSCOW - Russia is using its energy wealth to shore up influence abroad, pouring billions of dollars in loans and grants into former Soviet states and long-standing allies — even as it faces its own severe economic downturn.

  • European stocks extend losses

    AFP – Fri Jul 3, 6:49 am ET

    LONDON, July 3, 2009 (AFP) - Europe's main stock markets weakened further on Friday after sliding a day earlier on news of greater-than-expected job losses in the United States.

  • Clearing key to making derivatives safer: EU

    Reuters – Fri Jul 3, 6:22 am ET

    BRUSSELS (Reuters) - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps.

  • European stocks rise at open

    AFP – Fri Jul 3, 4:50 am ET

    LONDON (AFP) - Europe's main stock markets recovered slightly at the start of trade on Friday, with London's FTSE 100 index edging up by 0.09 percent to 4,238.22 points.

  • ECB holds rates, to start buying bonds next week

    Reuters – Thu Jul 2, 1:05 pm ET

    LUXEMBOURG (Reuters) - The European Central Bank kept euro zone interest rates at 1.0 percent on Thursday, bolstering expectations they will stay there well into next year, and said it would start buying bonds next week.

  • ECB keeps interest rate at 1 pct

    AP – Thu Jul 2, 12:47 pm ET

    LUXEMBOURG - The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its "spectacular" infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.

  • FTSE 100 shares fall sharply

    AFP – Thu Jul 2, 12:05 pm ET

    LONDON (AFP) - Stocks in London ended the session sharply down Thursday on the back of dire unemployment figures released in the US and in the eurozone, where the rate hit a 10-year-high.

  • Spain's spy chief resigns under fire

    AP – Thu Jul 2, 9:51 am ET

    MADRID - Spain's intelligence chief resigned Thursday amid allegations he used government money to go on hunting and fishing trips and had staffers remodel his house.

  • Euro zone unemployment hits 10-year high in May

    AP – Thu Jul 2, 5:08 am ET

    LONDON - Unemployment in the 16 countries that use the euro spiked to a 10-year high in May, reinforcing concerns any recovery will take time with so many people out of work.

  • Sweden kicks off EU presidency in institutional fog

    AFP – Wed Jul 1, 2:13 pm ET

    STOCKHOLM (AFP) - Sweden kicked off its six-month European Union presidency Wednesday amid fears the bloc's unresolved institutional woes may overshadow its priorities of tackling climate change and the economic crisis.

  • FTSE 100 shares rise

    AFP – Wed Jul 1, 12:18 pm ET

    LONDON (AFP) - The London stock market closed firmer on Wednesday as retailer Marks and Spencer reported strong sales and commodity prices spiked.

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