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Economy

Greeks earning ?42,000 to be taxed at top rate
Greeks earning more than €42,000 ($55,000) per year will now be taxed at a new top rate of 42 percent, under a major new tax reform bill submitted to ...
EU scores hat-trick with Greek, bank deals, Nobel
Finally, it has been a good week for Europe. After months of bitter debate, European Union countries finally reached two crucial agreements Thursday: ...
IMF's Lagarde praises Euro deal on bank oversight
The head of the International Monetary Fund on Thursday praised a deal inked by European Union governments to create a single supervisor for their ...
Europe takes step toward more stable banks
The European Union has taken its big first step toward keeping busted banks from costing taxpayers billions and dragging down government finances.
S&P puts UK's AAA rating on negative watch
The Standard & Poor's rating agency has put Britain's AAA long-term credit rating on negative watch because of fears that economic growth over the ...
German real estate booms as people seek security
Buying a home in Berlin is widely viewed as one of the safest investments a German, or any European, can make. That is why some real-estate experts ...
Market enthusiasm over Fed stimulus fades
Upbeat U.S. economic figures failed to restore strength to stock markets Thursday as investors monitored the progress of budget discussions in the U.S
Financial crisis explained to Queen Elizabeth II
In 2008, Queen Elizabeth II asked academics why no one saw the financial crisis coming. On Thursday, she finally got an answer. Sujit Kapadia from the ...
Top central banks extend dollar-lending program
Major central banks acted Thursday to try to shore up confidence in the global financial system by extending a program that makes it easier for banks ...
Glance: A look at the EU's key decisions in 2012
In a whirlwind of decision-making, ministers from the European Union's 27 countries agreed Thursday on the foundation of a fully-fledged banking union ...
A look at integration ideas EU leaders are mulling
European Union leaders, seeking to avoid a repeat of the crisis that has dogged the 27-country bloc for the past three years, are debating plans for ...
US airlines to lead industry recovery in profits
U.S. airlines will lead a recovery in the global sector's profits next year, mainly thanks to cost cuts and restructuring measures taken to address ...
Oil slips on US talks impasse, weak demand outlook
The price of oil fell to near $86 a barrel on Thursday after critical budget negotiations in Washington reached an apparent impasse. By early ...
Spain sees cost of borrowing fall in auctions
Spain has seen the interest rate it has to pay to get investors to buy its benchmark bond fall in an auction that signals rising confidence in the ...
Dutch not planning to examine gold reserves
The Dutch central bank has no plans to physically inspect its gold reserves held in other countries, despite recent moves by Germany's Bundesbank to ...
Polish parliament passes 2013 budget
Poland's lower house of parliament has approved a 2013 budget that foresees a slightly lower deficit than that expected for this year. The government ...
Italy raises money at lower rates despite upheaval
Italy successfully sold €6.5 billion ($8.45 billion) in bonds the country's first debt auction since the country's Prime Minister Mario Monti ...
OPEC keeps output target on hold amid weak economy
OPEC ministers agreed to keep their daily crude production target unchanged at a meeting Wednesday. But in a sign of internal rivalries, they failed ...
Greece to buy back 31.9 billion euros of bonds
Greece will buy back €31.9 billion ($41.5 billion) of its bonds from private investors at a third of their nominal price, the debt agency said ...
NATO sets up new HQ for allied special forces
NATO opened a new headquarters complex for its special forces Wednesday as part of a larger move aimed at offsetting the effects of deep defense cuts ...
German opposition: have banks finance rescue fund
Germany's main opposition parties are proposing that banks should pay at least €200 billion ($260 billion) into a new European rescue fund rather than ...
Oil price rises above $86 on Fed stimulus hopes
The price of oil rose to above $86 a barrel on Wednesday as investors expected the Federal Reserve to announce new measures to perk up the U.S.
Cyprus police stop protesters entering parliament
Cyprus police say they managed to block a small group of protesters from pushing their way into the country's parliament as lawmakers were preparing ...
Eurozone industrial output in surprise slump
Industrial production across the 17 European Union countries that use the euro unexpectedly slumped in October, official figures showed Wednesday, in ...