Economy

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 ...
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 ...
Austrian province hit with huge financial loss
The government of Austria's Salzburg province has launched an investigation into its investment practices after a senior civil servant in the finance ...
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 ...
EU backs banking supervisor, Greece bailout
In one whirlwind morning, the European Union nations agreed Thursday to two key measures vital to the financial security of the region. As well as ...
OPEC not concerned about US pickup in oil output
OPEC does not see increased U.S. oil output as a threat to its interests but is skeptical about current forecasts on the boom of American shale oil ...
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 ...
AirAsia orders 100 more A320s from Airbus
Airbus says AirAsia, southeast Asia's top budget carrier, is ordering 100 additional A320 single-aisle jets in a deal that greatly increases the ...
Italy raises cash easily as Berlusconi vacillates
Silvio Berlusconi's vacillations over whether or not to run for Prime Minister of Italy failed to dent investor demand for the country's debt, leaving ...
Spanish botched fresco artist sells work on eBay
The 80-year-old Spanish artist who became famous because of her botched restoration of a Christ fresco in a small-town church is auctioning one of her ...
French mobile operators hit with antitrust fines
France's competition watchdog has slapped €183 million ($239 million) in fines on the country's two top mobile operators for anti-competitive pricing ...
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 ...
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 ...
Putin rejects foreign advice on democracy
President Vladimir Putin on Wednesday angrily rejected what he described as attempts to enforce foreign patterns of democracy on Russia and vowed to ...
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 ...
Poland's airline, car makers get state support
Officials say that Poland's struggling LOT airline and an auto plant are getting financial support from the government as both sectors are going ...
Global corporate deals nearly halved in 5 years
The value of mergers and acquisitions deals around the world in 2012 was nearly half the amount made five years ago, when the financial crisis first ...
Germany sells property stock to US fund for $1.4B
Germany has sold a large chunk of state-owned commercial properties to Texas-based Lone Star Funds for €1.1 billion ($1.43 billion). The Finance ...
Rosneft buys other half of TNK-BP for $28 billion
Rosneft has signed an agreement to purchase 50 percent in Russia's third-largest oil producer TNK-BP for $28 billion, having earlier acquired the ...