Economy

Economy

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  Frugal pope nixes bonus for Vatican employees

  The global economic crisis is hitting Vatican employees in their cassock pockets. The Vatican said Thursday that Pope Francis, known for his frugal ... 

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  Greece pledges swift punishment over farm shooting

  Greek officials on Thursday promised "swift and exemplary" punishment for three strawberry plantation foremen who allegedly shot and injured 29 ... 

• EU aims to get US trade deal by next year

  The European Union's top trade official says negotiations with the U.S. on what would become the world's largest free trade agreement should be ... 

• Swiss to hold referendum on gold reserves

  The Swiss Cabinet's office says the nationalist Swiss People's Party has gathered enough signatures to force a referendum on banning the central bank ... 

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  Chinese investors eye Greek airports

  Greece's finance ministry says Chinese investors have "confirmed interest" in Greek airports that are due to be privatized. Finance Minister Yannis ... 

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  German Parliament approves Cyprus aid package

  The German Parliament on Thursday approved a 10 billion euros ($13 billion) rescue package for Cyprus by a wide margin. Lawmakers voted 487-102 in ... 

• Interest rates down again in Spanish auction

  Spain's slow progress on its road to a more balanced economy continued Thursday as it successfully raised 4.7 billion euros ($6.2 billion) in a sale ... 

• Oil up to near $88, rebounding on US supply drop

  The price of oil rose to near $88 a barrel Thursday as an unexpected drop in U.S. stockpiles of crude triggered a modest recovery from a sharp ... 

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  Portugal launches another round of spending cuts

  Portugal's government is pushing ahead with deeply unpopular austerity policies, announcing plans Thursday to save 800 million euros ($1 billion) this ... 

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  German economy seen bouncing back after Q4 dip

  Germany's economy is bouncing back from a downturn at the end of last year, according to the country's leading economic research institutes. In their ... 

• UK retail sales drop in chilly weather

  Official figures show that retail sales in Britain dropped sharply in March, as chilly weather kept shoppers at home. The Office of National ... 

• Nestle 'on track' despite fragile global economy

  Swiss food and drinks giant Nestle SA notched a gain of 2.3 percent in first-quarter sales and confirmed Thursday it was on track for another year of ... 

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  Legendary horses latest victim of Spain's bust

  The southern Spanish region of Andalusia, famed for flamenco and Moorish castles, is also home to a legendary breed of horses that carried ... 

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  European car sales plummet, even in solid Germany

  Europe's auto market is in freefall. Once the motor for Europe's economy, the car industry has fallen victim to the region's widening recession and ... 

• Oil falls to near $87 a barrel on growth concerns

  The price of crude oil dropped to near $87 a barrel Wednesday amid concerns over the outlook for global economic growth. By early afternoon in Europe, ... 

• France follows IMF in slashing growth forecasts

  The French government has finally bowed to reality, lowering its official economic growth projections and acknowledging that its deficit won't fall ... 

• Bailed-out Portugal pays more to borrow $2.3 BN

  Portugal has raised 1.75 billion euros in a debt auction that saw its longer-term interest rate rise in a fresh bout of investor jitters about the ... 

• Spain plays down IMF negative forecast

  Spanish Prime Minister Mariano Rajoy has brushed off dismal economic predictions from the International Monetary Fund that the country's economy will ... 

• Germany predicting significantly reduced debt

  Germany's Finance Ministry says its long-term budget plan foresees the country's overall debt burden shrinking from the current 80.5 percent of its ... 

• Unemployment increases in Britain

  Britain's economic outlook has grown bleaker, with new figures showing unemployment edging up to 7.9 percent — the worst rate for almost a year. 

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  Asian stocks rebound on the heels of US rally

  Asian stock markets rose Wednesday, boosted by a strong U.S. housing report and better-than-expected corporate earnings that added further evidence ... 

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  Chavez heir charges US is behind unrest over vote

  President-elect Nicolas Maduro and his opposition rival traded accusations Tuesday over blame for post-election violence that the government said had ... 

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  Official: Cyprus lawmakers to vote on bailout deal

  Cyprus' parliament must vote on the 23 billion euro ($30 billion) bailout deal the country has agreed upon with international creditors, the Cypriot ... 

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  Greece sticks with austerity, seeks debt relief

  Greece promised Tuesday to stick with tough austerity measures, holding out hope for a debt relief deal with emergency creditors, but the country's ... 

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  FIFA: Agents increase cut of transfer deals

  Football agents got a lot richer last year. Agents took a bigger cut from international player transfers in 2012, even as trading in the ...