- Greek Parliament to vote on debt writedown deal NICHOLAS PAPHITIS - AP - 20 mins ago
Greek lawmakers on Thursday debated emergency legislation to approve a massive bond swap that would wipe €107 billion ($142 billion) off the country's privately-held … More »Greek Parliament to vote on debt writedown deal
- Truworths H1 profit up, eyes Africa expansion Reuters - 28 mins ago
JOHANNESBURG (Reuters) - South Africa's biggest-listed clothes retailer Truworths reported a 14 percent increase in first-half profit, lifted by higher prices and new … More »Truworths H1 profit up, eyes Africa expansion
JOHANNESBURG (Reuters) - South Africa's biggest-listed clothes retailer Truworths reported a 14 percent increase in first-half profit, lifted by higher prices and new stores. Truworths, which runs fashion stores of the same name across the country, said diluted headline earnings per share totalled 272.3 cents in the six …
- Canadian dollar lifted by German data, oil prices Claire Sibonney - Reuters - 34 mins ago
TORONTO (Reuters) - The Canadian dollar strengthened back through parity against the U.S. dollar on Thursday as better-than-expected German data eased concerns about … More »Canadian dollar lifted by German data, oil prices
TORONTO (Reuters) - The Canadian dollar strengthened back through parity against the U.S. dollar on Thursday as better-than-expected German data eased concerns about a bleak euro zone economic outlook and a rally in oil prices fueled commodity currencies. However, markets remained wary about the negative impact of higher …
- EU executive to push for bigger rescue fund, win IMF support David Brunnstrom and Robin Emmott - Reuters - 43 mins ago
BRUSSELS (Reuters) - The European Commission wants euro zone leaders to agree to a bigger rescue fund to nudge the IMF into backing debt-stricken European economies, … More »EU executive to push for bigger rescue fund, win IMF support
BRUSSELS (Reuters) - The European Commission wants euro zone leaders to agree to a bigger rescue fund to nudge the IMF into backing debt-stricken European economies, despite German resistance to boosting it, the EU's top economic official said on Thursday. Investors and many EU officials want euro zone leaders to agree …
- Analysis: Can U.S. economy withstand gasoline price curse? Lucia Mutikani - Reuters - 47 mins ago
WASHINGTON (Reuters) - Could history repeat itself? That is a question uppermost in the minds of many Americans as they warily watch gasoline prices at the pump rise … More »Analysis: Can U.S. economy withstand gasoline price curse?
WASHINGTON (Reuters) - Could history repeat itself? That is a question uppermost in the minds of many Americans as they warily watch gasoline prices at the pump rise week after week. After all, a spike in gasoline prices early last year helped nearly knock the economy back into recession. The answer, economists say, is …
- Rising oil, weak EU forecasts hit shares Richard Hubbard - Reuters - 48 mins ago
LONDON (Reuters) - Rising oil prices and forecasts showing the euro zone economy shrinking this year weakened European stock markets on Thursday and pulled the single … More »Rising oil, weak EU forecasts hit shares
LONDON (Reuters) - Rising oil prices and forecasts showing the euro zone economy shrinking this year weakened European stock markets on Thursday and pulled the single currency back from 10-week highs. More upbeat data from Germany had given shares a boost in early trade and U.S. stock futures still pointed to a firmer open, …
- Burned before, Fed officials cautious on rebound Pedro Nicolaci da Costa - Reuters - 1 hr 17 mins ago
WASHINGTON (Reuters) - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed … More »Burned before, Fed officials cautious on rebound
WASHINGTON (Reuters) - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before. Despite stronger employment data and hints of firmer inflation, Federal Reserve policymakers are not ruling out another round of monetary easing in …
- Europe's banks bleed from Greek debt crisis Steve Slater and Lionel Laurent - Reuters - 1 hr 19 mins ago
LONDON/PARIS (Reuters) - Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would … More »Europe's banks bleed from Greek debt crisis
LONDON/PARIS (Reuters) - Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would continue to threaten earnings. From France to Germany, Britain to Belgium, some of the region's biggest banks lined up to reveal billions of euros lost …
- EU expects eurozone to suffer mild recession GABRIELE STEINHAUSER and PAN PYLAS - AP - 2 hrs 0 mins ago
The 17-nation eurozone economy will suffer a modest recession this year despite recent signs of stabilization, particularly in financial markets, the European Union's … More »EU expects eurozone to suffer mild recession
- European shares mixed, euro higher amid bank results AFP - 2 hrs 6 mins ago
European stock markets diverged and the euro rose against the dollar on Thursday as traders reacted to mixed earnings from the region's biggest banks and varied eurozone … More »European shares mixed, euro higher amid bank results
- Euro zone economy to shrink in 2012 Robin Emmott - Reuters - 2 hrs 48 mins ago
BRUSSELS (Reuters) - The euro zone's economy is heading into its second recession in just three years, while the wider European Union will stagnate, the EU's executive … More »Euro zone economy to shrink in 2012
BRUSSELS (Reuters) - The euro zone's economy is heading into its second recession in just three years, while the wider European Union will stagnate, the EU's executive said on Thursday, warning that the currency area has yet to break its vicious cycle of debt. However, the EU's top economics official said that recent surveys …
- German business confidence sees 4th straight rise GEIR MOULSON - AP - 3 hrs ago
German business confidence has risen for the fourth consecutive month as Europe's biggest economy continues to outperform much of the rest of the debt-hobbled continent, … More »German business confidence sees 4th straight rise
German business confidence has risen for the fourth consecutive month as Europe's biggest economy continues to outperform much of the rest of the debt-hobbled continent, a closely watched survey showed Thursday.
- World stocks rise as Greek debt deal fears recede PAMELA SAMPSON - AP - 4 hrs ago
World stock markets rose Thursday as fears receded over the viability of a deal reached by European leaders to save Greece from financial collapse and preserve its place … More »World stocks rise as Greek debt deal fears recede
- Telecom Egypt sees flat revenue in 2012 Reuters - 4 hrs ago
CAIRO (Reuters) - Landline monopoly Telecom Egypt expects its revenues to be little changed in 2012 and aims to maintain profitability at a level similar to last year … More »Telecom Egypt sees flat revenue in 2012
CAIRO (Reuters) - Landline monopoly Telecom Egypt expects its revenues to be little changed in 2012 and aims to maintain profitability at a level similar to last year as it continues a cost-cutting programme, its finance chief said. The company earlier reported a 6.8 percent decline in net profit and a 3.2 percent drop …
- Telecom Egypt sees flat revenue in 2012 Reuters - 4 hrs ago
CAIRO (Reuters) - Landline monopoly Telecom Egypt expects its revenues to be little changed in 2012 and aims to maintain profitability at a level similar to last year … More »Telecom Egypt sees flat revenue in 2012
CAIRO (Reuters) - Landline monopoly Telecom Egypt expects its revenues to be little changed in 2012 and aims to maintain profitability at a level similar to last year as it continues a cost-cutting programme, its finance chief said. The company earlier reported a 6.8 percent decline in net profit and a 3.2 percent drop …
- S.Africa's top-two banks see double-digit profit growth Reuters - 4 hrs ago
JOHANNESBURG (Reuters) - South Africa's top two lenders said on Thursday they expected profits to rise by around 20 percent, the latest sign banks in Africa's largest … More »S.Africa's top-two banks see double-digit profit growth
JOHANNESBURG (Reuters) - South Africa's top two lenders said on Thursday they expected profits to rise by around 20 percent, the latest sign banks in Africa's largest economy are back on the road to recovery after a 2009 recession suppressed credit demand. Standard Bank Group Ltd, Africa's biggest lender by assets, said …
- China risks economic crisis if no reforms: report AFP - 7 hrs ago
China could face an economic crisis if it does not implement major reforms in the next 20 years, the Wall Street Journal said Thursday, citing a report by the World Bank … More »China risks economic crisis if no reforms: report
- Gold pauses after rally; monetary easing hopes support Rujun Shen - Reuters - 7 hrs ago
SINGAPORE (Reuters) - Spot gold edged lower on Thursday, taking a breather after hitting a three-month high in the previous session, while sentiment remains supported … More »Gold pauses after rally; monetary easing hopes support
SINGAPORE (Reuters) - Spot gold edged lower on Thursday, taking a breather after hitting a three-month high in the previous session, while sentiment remains supported on hopes of further monetary easing after sluggish economic data from the euro zone and China. Data showed unexpectedly weak activity in the euro zone, while …
- Brent oil holds near $123 as Iran offsets economy Florence Tan - Reuters - 7 hrs ago
SINGAPORE (Reuters) - Brent crude held steady on Thursday, near a nine-month high of about $123, as supply worries caused by heightened tension between Iran and the West … More »Brent oil holds near $123 as Iran offsets economy
SINGAPORE (Reuters) - Brent crude held steady on Thursday, near a nine-month high of about $123, as supply worries caused by heightened tension between Iran and the West offset concern that a slowdown in the global economy could curb oil demand. U.N. inspectors sent to visit the country's nuclear installations declared …
- Egypt's CIB says 2011 net profit fell 20 pct Reuters - 8 hrs ago
CAIRO (Reuters) - Commercial International Bank (CIB), Egypt's biggest private bank by assets, said on Wednesday its consolidated net profit fell 20.1 pct in 2011 as … More »Egypt's CIB says 2011 net profit fell 20 pct
CAIRO (Reuters) - Commercial International Bank (CIB), Egypt's biggest private bank by assets, said on Wednesday its consolidated net profit fell 20.1 pct in 2011 as the economy slowed in the wake of Egypt's popular uprising. The decline in full-year profit was "primarily driven by much higher provisions" taken "as a pre-emptive …
- More U.S. kids living in high-poverty areas: study Susan Heavey - Reuters - 8 hrs ago
WASHINGTON (Reuters) - Years of economic setbacks have taken their toll on the nation's youngest residents, with another 1.6 million children living in high-poverty neighborhoods, … More »More U.S. kids living in high-poverty areas: study
WASHINGTON (Reuters) - Years of economic setbacks have taken their toll on the nation's youngest residents, with another 1.6 million children living in high-poverty neighborhoods, according to one study that shows nearly 8 million children residing in poor areas in 2010. In 2000, 6.3 million children lived in high poverty …
- Profits slump at British energy group Centrica AFP - 13 hrs ago
British utility group Centrica said Thursday that its net profits plunged 78 percent last year, hit by a large one-off charge, weak economic conditions, mild weather … More »Profits slump at British energy group Centrica
- Could a Memo by Christina Romer Have Saved the Economy? John Hudson - The Atlantic Wire - 14 hrs ago
In 2008, White House Economic Adviser Christina Romer wrote a memo outlining a stimulus package as large as $1.8 trillion, only to have it buried by Chief Economic Adviser … More »Could a Memo by Christina Romer Have Saved the Economy?
In 2008, White House Economic Adviser Christina Romer wrote a memo outlining a stimulus package as large as $1.8 trillion, only to have it buried by Chief Economic Adviser Larry Summers. Could it have saved the economy?
- The Tooth Fairy Is Tracking the Recession Dino Grandoni - The Atlantic Wire - 15 hrs ago
Of all economic indicators, this is the one that best illustrates to little kids just how "great" the Great Recession was. According to the Original Tooth Fairy Poll, … More »The Tooth Fairy Is Tracking the Recession
Of all economic indicators, this is the one that best illustrates to little kids just how "great" the Great Recession was. According to the Original Tooth Fairy Poll, run by the Delta Dental Plans Association, the fetching price of a child's tooth fell by 42 cents, to $2.10 from $2.52, between 2010 and 2011. The drop is …
- Burned before, Fed officials cautious on rebound Pedro Nicolaci da Costa - Reuters - 16 hrs ago
WASHINGTON (Reuters) - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed … More »Burned before, Fed officials cautious on rebound
WASHINGTON (Reuters) - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before. Despite stronger employment data and hints of firmer inflation, Federal Reserve policymakers are not ruling out another round of monetary easing in …
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