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Euro zone GDP contraction slows in Q1The pace of the euro zone's economic contraction slowed quarter-on-quarter in the first three months of this year, EU statistics showed on Wednesday, but retail sales in April pointed to continued weakness in household demand. More… |
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EU unemployment climbs to new highEuro zone unemployment hit a fresh high in April for the 24th month, deepening the plight of the jobless young and raising analyst calls for a cut in interest rates. The latest picture from the Eurostat data agency offered little More… |
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Warning signs for China, Fed hints at curbing stimulusChinese factory activity shrank in May for the first time in seven months, overshadowing signs that the euro zone's downturn tempered slightly in May, business surveys showed on Thursday. More… |
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Mixed signals for the global economyA flood of data this week will paint a mixed picture of the global economy, with belt-tightening continuing to dampen activity in the euro zone, but accommodative policies helping to stimulate growth in Japan. Reports from the US More… |
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Brent steady below $103, ECB rate cut supportsBrent crude held below $103 a barrel on Friday, retaining most of its steep gains from the previous session, when an interest rate cut by the European Central Bank boosted investors' appetite for riskier assets. The decision c More… |
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Blame the Euro, not CyprusCo-CEO and co-founder of Saxo Bank, Lars Seier Christensen believes that the real problem is not Cyprus, it is the Euro, as he has written in his latest blog post. After a few disturbing weeks, I would like to wrap up my comments More… |
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Cyprus rules out leaving Euro zoneThe president of Cyprus yesterday said the risk of bankruptcy had been contained and the country had no intention of leaving the euro, in a speech laden with criticism of Europe's currency union for "experimenting" with the island& More… |
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Turkish lira eases after cbank tightens liquidityThe Turkish lira eased slightly on Wednesday after the central bank cut its overnight lending rate and tightened liquidity in the previous session, the latest moves in one of the world's most complicated monetary policy mixes. More… |
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Gold falls below $1,600 after Cyprus rescueGold fell on Tuesday as safe-haven demand ebbed after Cyprus clinched a last-ditch rescue deal, while the European Central Bank worked to allay anxiety that the bailout could have negative implications for other euro zone states. More… |
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As euro zone suffers, emerging markets thriveNo matter how Cyprus's financial drama ends, its troubles show yet again that rich countries enfeebled by the great financial crisis remain a weak link in the world economy. By comparison, e More… |
