Economy

Economy

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  EU to shift bill for bank failures to creditors

  European Union governments want to shift the cost of rescuing troubled banks from taxpayers to the banks' creditors — including the holders of large ... 

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  France approves major labor reform package

  France's parliament has passed a package of significant labor reforms Tuesday that the government hopes will help halt rising unemployment and ... 

• Slovenia government, unions agree on wage cuts

  Slovenia's government and trade unions on Tuesday reached a tentative agreement to cut public sector wages by up to 4.8 percent as part of budget ... 

• Greek club AEK Athens to declare bankruptcy

  Troubled Greek football club AEK Athens is planning to declare bankruptcy and seek voluntary relegation to the country's third division. The club, hit ... 

• Pension reform seen as crucial for ailing Portugal

  A leading international economic body says Portugal must push ahead with changes to pension entitlements, even though the planned reforms are ... 

• Economy hurts Deutsche Post DHL freight business

  Mail, express delivery and freight company Deutsche Post DHL saw its profits dip in the first quarter as the weak global economy saw companies ship ... 

• Eurozone growth hopes emerge after industrial data

  A larger-than-expected increase in industrial production across the 17 European Union countries that use the euro has raised hopes that the recession ... 

• German ZEW confidence survey barely rises

  Germany's ZEW survey of investor optimism barely rose in May, reflecting the weak economy in the euro currency union. The ZEW research institute's ... 

• Polish economy barely grew in Q1

  Official figures show that Poland's economy barely grew in the first quarter of the year. The Central Statistical Office said Tuesday that its ... 

• German inflation drops to near 3 year low

  Inflation in Germany, Europe's largest economy, has hit its lowest rate in nearly three years largely on the back of a fall in fuel costs. The Federal ... 

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  Asia stocks rise on US retail sales gain

  Asian stock markets rose Tuesday after data showed U.S. consumers revved up their retail spending last month. The Commerce Department in Washington ... 

• Cameron: EU, US could launch trade talks in June

  British Prime Minister David Cameron says the United States and the European Union could launch free trade talks ahead of a meeting of the Group of ... 

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  Poll shows favorable views of EU in sharp decline

  Positive views of the European Union by its citizens are near all-time lows. And no EU country is plunging faster into the abyss of gloom than France. 

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  Euro ministers urge troubled Slovenia to act

  European finance ministers on Monday urged Slovenia to move swiftly in addressing the problems in its banking sector and get its public finances under ... 

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  Europe at odds over next steps to banking union

  European leaders are increasingly at odds over how to create a full-fledged banking union, the bloc's key project to stabilize its financial system ... 

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  Obama, Cameron focus on Syria at White House

  President Barack Obama says the United States is working with Britain to strengthen the moderate opposition in Syria and to push for the end of the ... 

• Greece uses emergency power on striking teachers

  The Greek government said Monday it will use emergency powers to prevent protesting teachers from disrupting university entrance exams this month. 

• Danone to acquire US baby food maker Happy Family

  French yogurt maker Danone says it has agreed to take a more than 90-percent stake in organic baby food maker Happy Family. Although Danone is known ... 

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  Spain, Portugal demand quick action on bank union

  The leaders of Spain and Portugal on Monday demanded that the 17-nation eurozone speed up efforts to create a banking union and complained that credit ... 

• Portugal's president summons advisers amid tension

  Portugal's president is convening a seldom-assembled advisory body of senior figures, amid splits in the center-right coalition government over ... 

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  Pakistan's next premier an Islamist comeback kid

  The man set to become Pakistan's next prime minister after historic elections over the weekend could be called the Islamist comeback kid. Nawaz Sharif ... 

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  China investigates top planning official for graft

  Chinese authorities have launched an investigation into a powerful economic planning official accused by a prominent journalist of corruption, the ... 

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  Pakistan's Sharif gets resounding election victory

  Former Pakistani Prime Minister Nawaz Sharif looked poised to return to office with a resounding election victory — a mandate that could make it ... 

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  Exit polls: No clear winner in Bulgarian vote

  Bulgaria's center-right party and its main challenger, the Socialists, finished first and second in Sunday's parliamentary election, with neither one ...