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Daily News >> Finance & Business >> European Business & Economy
 
1. Equities make bright start to September (AFP)

A woman walks past an electronic share prices board in Tokyo. Asian and European stocks were on the rise, lifted by bargain-hunting and upbeat data, as dealers set aside Wall Street's worst August performance in nine years amid stubborn US recovery doubts.(AFP/Yoshikazu Tsuno)AFP - Asian and European stocks rose on Wednesday, lifted by bargain-hunting and upbeat data, as dealers set aside Wall Street's worst August performance in nine years amid stubborn US recovery doubts.



Updated: Wed, 01 Sep 2010 11:16:32 GMT

2. Summary Box: US fears mean risk for ECB (AP)
AP - THE SITUATION: Indicators are pointing up at the European Central Bank, which may be about to raise its 2010 economic projections. But that brightening picture is being increasingly darkened by fears about the recovery in the U.S.
Updated: Wed, 01 Sep 2010 18:30:34 GMT

3. Spain halves deficit with painful austerity cuts (AP)
AP - Spain's deficit is down sharply thanks to an unpopular cocktail of tax hikes and austerity cuts — good news for a government fighting to ward off fears it might need a bailout like the one that saved Greece from bankruptcy.
Updated: Wed, 01 Sep 2010 17:04:10 GMT

4. Swiss economy grew 0.9 percent in second quarter (AP)
AP - Official figures show that Switzerland's economy grew by 0.9 percent in the second quarter compared with the first three months of the year, largely on the back of higher domestic demand and corporate investments.
Updated: Thu, 02 Sep 2010 08:14:46 GMT

5. ECB raises 2010, 2011 eurozone growth forecast (AP)

Jean-Claude Trichet, of France, president of the European Central Bank, talks to a reporter at the close of the first session of the annual Federal Reserve conference, in Jackson, Wyo., Friday, Aug. 27, 2010.  (AP Photo/Reed Saxon)AP - The European Central Bank raised its growth projections for the 16-nation eurozone on Thursday, but stressed that the outlook remains uncertain and said its effort to keep banks supplied with credit would stay in place for the rest of the year.



Updated: Thu, 02 Sep 2010 14:38:33 GMT

6. ECB holds rates, extends liquidity lifeline (Reuters)

Jean-Claude Trichet, President of the European Central Bank (ECB) addresses the media during his monthly news confrence at the ECB headquarter in Frankfurt in this August 5, 2010 file photo. REUTERS/Alex DomanskiReuters - The European Central Bank held interest rates at a record low on Thursday and extended its liquidity safety-net in response to a lopsided recovery and worries about vulnerable banks.



Updated: Thu, 02 Sep 2010 13:10:45 GMT

7. Driven by Germany, Europe posts 1% growth (AFP)

A smelter works with raw iron on a Salzgitter blast furnace in Salzgitter, Germany, in March. Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth would likely lose steam in the second half.(AFP/DDP/File/Nigel Treblin)AFP - Europe's economy outpaced the United States and Japan in the second quarter, EU data showed Thursday, but analysts warned that the German-powered growth would likely lose steam in the second half.



Updated: Thu, 02 Sep 2010 10:17:46 GMT

8. Global stocks hit two-week high on manufacturing optimism (Reuters)

People are reflected in a stock index board outside a brokerage in Tokyo August 31, 2010. REUTERS/Kim Kyung-HoonReuters - World stocks hit a two-week high on Thursday and oil prices rose as optimism from strong U.S. and Chinese manufacturing data extended into a second day ahead of a euro zone interest rate decision and key U.S. jobs data.



Updated: Thu, 02 Sep 2010 08:57:24 GMT

9. German car exports up 12 percent in August (AP)
AP - German car exports kept growing in August as a healthier global economy fueled sales abroad, helping push up production, an industry group said Thursday.
Updated: Thu, 02 Sep 2010 12:26:21 GMT

10. European stocks drop before ECB rate call (AFP)

File photo of a trader at the Frankfurt stock exchange. European stock markets slid on Thursday as investors took profits from recent gains amid caution before the latest interest rate decision from the European Central Bank.(AFP/DDP/File/Martin Oeser)AFP - European stock markets slid on Thursday as investors took profits from recent gains amid caution before the latest interest rate decision from the European Central Bank.



Updated: Thu, 02 Sep 2010 11:02:55 GMT

11. EU reaches deal on cross-border financial supervisors (AFP)

Europe took a big step closer to its goal of creating cross-border financial supervisors, reaching a AFP - Europe took a big step closer on Thursday to its goal of creating cross-border financial supervisors, reaching a "crucial milestone" in efforts to reform a sector blamed for the global recession.



Updated: Thu, 02 Sep 2010 19:17:59 GMT

12. Romanian PM shakes up cabinet (AP)

FILE - In this file picture taken on Tuesday, Oct. 13, 2009, Romanian Premier Emil Boc, center, speaks to media shortly after his government failed in a confidence vote in Bucharest, Romania. Romania's unpopular government appeared to be on the brink of collapse on Thursday Sept. 2, 2010, after premier Emil Boc fired four Cabinet ministers, with the economy minister also saying he wants to quit. Romania is mired in its worst recession of the past two decades and the government slashed public sector wages by a quarter and hiked sales tax from 19 to 24 percent on July 1 to reduce the budget deficit. (AP Photo/Vadim Ghirda, File)AP - Romania's unpopular government was in turmoil Thursday after the prime minister fired five Cabinet ministers, with the economy minister also saying he will quit.



Updated: Thu, 02 Sep 2010 17:33:53 GMT

13. European stocks soar on US data; dollar breaches 85 yen (AFP)

A trader sits in front of a board displaying the German share index DAX at the stock exchange in Frankfurt. European equities surged on Friday and the dollar jumped above 85 yen as financial markets welcomed a better-than-expected payrolls report in the US.(AFP/DDP/File/Martin Oeser)AFP - European equities surged on Friday and the dollar jumped above 85 yen as financial markets welcomed a better-than-expected payrolls report in the United States.



Updated: Fri, 03 Sep 2010 13:47:24 GMT

14. Swedish bank Carnegie buys troubled competitor (AP)
AP - Swedish investment bank Carnegie AB Friday said it will buy competitor HQ Bank AB, which had its banking license revoked by the financial watchdog last week.
Updated: Fri, 03 Sep 2010 11:57:49 GMT

15. EU decision on support for banks due November: commissioner (AFP)

Spain's European Commissaire Joaquin Almunia speaks to journalists during a press conference at the Ambrosetti Forum on the Como Lake in northern Milan. Brussels will say in November if it is to extend support for troubled European banks, but will move more quickly on the troubled Anglo Irish Bank, Almunia said Saturday.(AFP/Olivier Morin)AFP - Brussels will say in November if it is to extend support for troubled European banks, but will move more quickly on the troubled Anglo Irish Bank, the EU's competition commissioner said Saturday.



Updated: Sat, 04 Sep 2010 16:11:18 GMT

16. Experts see trouble ahead for developed world (AP)

Israeli President Shimon Peres, center, arrives for the 'Intelligence on the World, Europe, and Italy' economic forum, at Villa d'Este, in Cernobbio, on Lake Como, Italy, Friday, Sept. 3, 2010. (AP Photo/Luca Bruno)AP - Is the global economy out of the woods? Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world.



Updated: Fri, 03 Sep 2010 17:37:43 GMT

17. Trichet calls for united EU at the IMF (AFP)

Jean-Claude Trichet, Governor of the European Central Bank, gives a press conference at the Ambrosetti Forum at the Villa d'Este hotel in Cernobbio on the Como Lake, northern Milan. European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.(AFP/Olivier Morin)AFP - European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.



Updated: Sat, 04 Sep 2010 17:58:55 GMT

18. Kia recalls tied to electrical issue (Investor's Business Daily)
Investor's Business Daily - The South Korean automaker is recalling 56,000 cars, the Soul and Sorento, sold in the U.S. and South Korea, because of defective wiring harnesses that could cause fires. Kia Motors said some harnesses made by Johnson Controls for lighting in '10 model-year Soul cars and 2011 model-year Sorento SUVs were improperly soldered, leading to possible electrical shorts. Kia's Soul sales had more than doubled through Aug. in the U.S. to nearly 44,000 units.
Updated: Fri, 03 Sep 2010 22:31:00 GMT

19. BP: Crews lifting device from Gulf face delay (AP)

In this image taken from video provided by BP  PLC at 12:23 a.m. EDT, Saturday Sept. 4, 2010 Aug. 3, 2010 shows the blowout preventer that failed to stop oil from spewing into the Gulf of Mexico being raised to the surface. The blowout preventer wasn't expected to reach the surface until Saturday, at which point government investigators will take possession of it. (AP Photo/BP PLC) NO SALESAP - A crane hoisted a key piece of oil spill evidence to the surface of the Gulf of Mexico on Saturday, giving investigators their first chance to personally scrutinize the blowout preventer, the massive piece of equipment that failed to stop the gusher four months ago.



Updated: Sun, 05 Sep 2010 02:41:22 GMT

20. Obama planning new package of economic aid (AP)

President Barack Obama reports on the economy as the latest unemployment figures are released,  Friday, Sept. 3, 2010, in the Rose Garden at the White House in Washington.  (AP Photo/J. Scott Applewhite)AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.



Updated: Fri, 03 Sep 2010 19:44:53 GMT

21. Exclusive: American Apparel in talks with restructuring firm (Reuters)
Reuters - Hipster brand American Apparel Inc is in talks to bring in an outside restructuring firm as the manufacturer and retailer struggles to fix its flagging operations, sources told Reuters on Friday.
Updated: Sat, 04 Sep 2010 01:38:15 GMT

22. MGIC added $1.2B in mortgage coverage in August (AP)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
Updated: Fri, 03 Sep 2010 18:50:41 GMT

23. Petrobras sells 64 bln dlrs of stock to fund oil exploration (AFP)

An oil platform off the coast of Brazil. Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.(AFP/File/Antonio Scorza)AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.



Updated: Fri, 03 Sep 2010 20:57:08 GMT

24. Spending cuts before 2011 could hurt recovery: IMF, ILO (AFP)

The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.(IMF)AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.



Updated: Fri, 03 Sep 2010 17:53:04 GMT

25. Campbell reports Q4 profit rise on better margins (AP)

In this June 19, 2010 photograph, people walk along inside the new building at the Campbell Soup Co. headquarters, in Camden, N.J.  The Campbell Soup Co. said Friday, Sept. 3, 2010, it made a profit of $113, or 33 cents per share during the fourth fiscal quarter, when the temperature rises and its soup sales traditionally drop.  (AP Photo/Mel Evans)AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.



Updated: Fri, 03 Sep 2010 20:48:36 GMT

26. Trichet calls for united EU at the IMF (AFP)

Jean-Claude Trichet, Governor of the European Central Bank, gives a press conference at the Ambrosetti Forum at the Villa d'Este hotel in Cernobbio on the Como Lake, northern Milan. European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.(AFP/Olivier Morin)AFP - European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.



Updated: Sat, 04 Sep 2010 17:58:55 GMT

27. Report: SEC Investigating canceled trades (AP)
AP - The Securities and Exchange Commission is looking into certain types of stock trade orders that could be distorting share prices and trading volume, according to The Wall Street Journal.
Updated: Thu, 02 Sep 2010 12:25:08 GMT

28. Summary Box: Unemployment rate rises to 9.6 pct (AP)
AP - UNEMPLOYMENT RISES: The unemployment rate rose to 9.6 percent in August from 9.5 percent, as the nation lost 54,000 jobs. Private employers added a net total of 67,000 workers, but 114,000 temporary census jobs ended.
Updated: Fri, 03 Sep 2010 21:41:31 GMT

29. China tells state companies to explore Potash bid (Reuters)

Potash Corp mill general superintendent Trevor Berg holds a handful of chicklet potash inside the Cory mine facilities near Saskatoon August 19, 2010. REUTERS/David StobbeReuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.



Updated: Sat, 04 Sep 2010 03:09:42 GMT

30. Stocks rally as jobs data spurs optimism (Reuters)

Traders work on the floor of the New York Stock Exchange, August 31, 2010. REUTERS/Brendan McDermidReuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.



Updated: Fri, 03 Sep 2010 20:43:39 GMT

31. Venezuela OKs payment for French retailer Casino (Reuters)
Reuters - Venezuelan President Hugo Chavez has approved a $690 million payment to French retailer Casino and other owners of a supermarket chain nationalized earlier this year, state media said on Saturday.
Updated: Sat, 04 Sep 2010 21:09:56 GMT

32. Taxpayers likely to face initial loss on GM IPO: sources (Reuters)

FILE - In this June 13, 2010 file photo, Tim Allen arrives at the world premiere of 'Toy Story 3,' at The El Capitan Theater in Los Angeles. General Motors Co. said Friday, Sept. 3, 2010, Tim Allen will be a spokesman for the brand and will star in a series of TV ads for the 2011 Chevrolet Cruze that begin airing on Tuesday. (AP Photo/Katy Winn, file)Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.



Updated: Fri, 03 Sep 2010 23:33:47 GMT

33. IMF's Lipsky says moderate world recovery underway (Reuters)
Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.
Updated: Sun, 05 Sep 2010 03:48:08 GMT

34. BP: Failed blowout preventer removed from well (AP)

Boats spray water to extinguish a fire on an oil and gas platform operated by Mariner Energy off the Louisiana coast September 2, 2010. REUTERS/Lee CelanoAP - BP PLC said the blowout preventer that failed to stop oil from spewing into the Gulf of Mexico was removed from the company's well on Friday afternoon.



Updated: Fri, 03 Sep 2010 19:07:55 GMT

35. Stranded actor Paul Hogan in Australia tax deal (Reuters)
Reuters - Actor Paul Hogan, star of the "Crocodile Dundee" movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday.
Updated: Fri, 03 Sep 2010 17:31:16 GMT

36. Crafting a Career in Eco-Chic Jewelry (BusinessWeek)
BusinessWeek - Goldman Sachs may not have a lot of friends in the White House these days, but one of its former employees has made a good impression. After three years as an analyst in Goldman's fixed-income, currencies, and commodities division, Monique Pean began her own jewelry line that can now be found in Barneys, Jeffrey New York, and around the neck of Michelle Obama.
Updated: Fri, 03 Sep 2010 12:08:42 GMT

37. BP says failed blowout preventer off Gulf well (Reuters)
Reuters - BP Plc removed a failed blowout preventer from atop its ruptured Gulf of Mexico oil well on Friday afternoon, a company spokesman said.
Updated: Fri, 03 Sep 2010 18:53:57 GMT

38. Stranded actor Paul Hogan in Australia tax deal (Reuters)
Reuters - Actor Paul Hogan, star of the "Crocodile Dundee" movies, has struck a deal with Australia's tax office which will allow him to return home to his family in Los Angeles, his lawyer said on Friday.
Updated: Fri, 03 Sep 2010 17:31:16 GMT

39. Court reinstates markup law for Wisconsin gasoline (AP)
AP - A federal appeals court on Friday reinstated Wisconsin's 71-year-old minimum markup law on gasoline, a decision that could save some jobs but increase the cost of gas.
Updated: Fri, 03 Sep 2010 18:10:31 GMT

40. Walgreen August same-store sales rise 2.1 percent (AP)
AP - Walgreen Co. reported same-store-sales rose 2.1 percent for August on Friday, just shy of Wall Street estimates.
Updated: Fri, 03 Sep 2010 16:33:28 GMT

41. Mo. drops appeal of real estate ballot measure (AP)
AP - An initiative barring taxes on home and land sales is clear to appear on Missouri's ballot after the state dropped an appeal Friday of a judge's decision ordering the election.
Updated: Fri, 03 Sep 2010 16:47:03 GMT

42. MGIC added $1.2B in mortgage coverage in August (AP)
AP - Private mortgage insurer Mortgage Guaranty Insurance Corp. said Friday it added $1.2 billion in new primary insurance coverage in August and the number of delinquent loans it insures declined.
Updated: Fri, 03 Sep 2010 18:50:41 GMT

43. Spending cuts before 2011 could hurt recovery: IMF, ILO (AFP)

The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.(IMF)AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.



Updated: Fri, 03 Sep 2010 17:53:04 GMT

44. Campbell reports Q4 profit rise on better margins (AP)

In this June 19, 2010 photograph, people walk along inside the new building at the Campbell Soup Co. headquarters, in Camden, N.J.  The Campbell Soup Co. said Friday, Sept. 3, 2010, it made a profit of $113, or 33 cents per share during the fourth fiscal quarter, when the temperature rises and its soup sales traditionally drop.  (AP Photo/Mel Evans)AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.



Updated: Fri, 03 Sep 2010 18:30:02 GMT

45. Experts see trouble ahead for developed world (AP)

Israeli President Shimon Peres, center, arrives for the 'Intelligence on the World, Europe, and Italy' economic forum, at Villa d'Este, in Cernobbio, on Lake Como, Italy, Friday, Sept. 3, 2010. (AP Photo/Luca Bruno)AP - Is the global economy out of the woods? Two years after near-meltdown, with the U.S. looking sluggish, equity markets groggy and Europeans fighting a debt crisis, experts gathered in Italy offered a generally gloomy outlook — especially for the United States and much of the industrialized world.



Updated: Fri, 03 Sep 2010 17:37:43 GMT

46. Ex-hedge fund manager charged with insider trading (Reuters)
Reuters - A former hedge fund manager has been accused by a U.S. regulator of illegal insider trading in MedImmune Inc securities prior to the acquisition of the pharmaceutical company by Britain's AstraZeneca Plc.
Updated: Wed, 01 Sep 2010 17:15:33 GMT

47. White House: August jobs report reassuring (Reuters)
Reuters - The White House on Friday greeted a better than expected August employment report as reassuring news after a recent spate of "unsettling" economic data, and reiterated it was working with Congress to take additional steps to boost U.S. growth and hiring.
Updated: Fri, 03 Sep 2010 14:18:00 GMT

48. Campbell Soup profit beats Street but sales light (Reuters)

Cans of vegetable Campbell's Condensed Soup are stocked on a shelf at a grocery store in Phoenix, Arizona, February 22, 2010. Campbell's Soup Co has been having a tough time getting its soups from the store shelf to the home pantry. REUTERS/Joshua LottReuters - Campbell Soup Co posted lower-than-expected quarterly sales and forecast sales growth for the new fiscal year below its long-term target as the world's largest soup company grapples with a weak economy.



Updated: Fri, 03 Sep 2010 14:45:43 GMT

49. Obama says to address new economic ideas next week (Reuters)

President Barack Obama delivers remarks on the latest employment statistics released on Friday, alongside Treasury Secretary Tim Geithner in the Rose Garden of the White House, September 3, 2010. REUTERS/Jason ReedReuters - President Barack Obama will outline new measures next week to boost the U.S. economy after August data on Friday showed again that jobs -- the central issue in November elections -- were being created too slowly.



Updated: Fri, 03 Sep 2010 16:40:13 GMT

50. Walgreen same-store sales miss expectations (Reuters)
Reuters - Walgreen Co posted weaker-than-expected August sales at stores open more than a year, hurt by generic drug introductions and a decrease in customer traffic.
Updated: Fri, 03 Sep 2010 13:15:04 GMT

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