Economy

Vatican releases 1st report of financial watchdog
The Vatican took another step Wednesday to show greater financial transparency by publishing the first annual report from its financial watchdog ...
IMF calls on Britain to do more for growth
The International Monetary Fund has called on Britain to do more to support the economic recovery, urging the government Wednesday to speed up ...
Italy seizes 1.2 billion euros from steel family
Milan prosecutors have ordered the seizure of 1.2 billion euros ($1.5 billion) in assets belonging to the family that runs a troubled steel plant in ...
Turkey: 4 sentenced over fake liquor deaths
Turkey's state-run news agency says a Turkish court has sentenced four people to 83 years in prison each for the deaths of five Russians from bootleg ...
Oil stays near $96 before crude stocks report, Fed
The price of oil was little changed above $96 a barrel Wednesday as investors waited confirmation of a rise in U.S. crude stocks and the Federal ...
Asia stocks rise as Fed official backs easy policy
Asian stock markets were mostly higher Wednesday after investor confidence was boosted by a Federal Reserve official's comments that the U.S.
Struggling Spain offers engineers to Brazil
Spain's development minister is urging Brazil to hire some of the engineers that her own economy doesn't have room for. Brazil is beefing up its ...
Burberry's profit hit by perfume deal's demise
British luxury brand Burberry said Tuesday that rapidly improving business in developing markets was offset by the end of a perfume licensing deal, ...
Ericsson closes down cable production, cuts jobs
Wireless equipment maker Ericsson AB says it will close down its telecom cable manufacturing operation and cut around 350 jobs in Sweden.
German central bank: Economy to improve 'markedly'
Germany's central bank expects the country's economy to improve "markedly" in the second quarter — a development that could boost the wider eurozone ...
Oil price down to near $96 as traders wait for Fed
The price of oil fell to near $96 per barrel Tuesday as investors waited for the Federal Reserve's latest views on the U.S. economy. By early ...
Vodafone annual profits up 1.9 percent
U.K.-based mobile telecoms company Vodafone has reported a 1.9 increase in annual profits despite a slowdown in much of its European operations.
Correction: Cyprus-Breaking Barriers story
In a story April 27 marking the 10th anniversary of the breaching of the barriers carving up Cyprus, The Associated Press erroneously reported that ...
British inflation eases by more than expected
Official figures show that consumer price inflation in Britain eased in April, largely on the back of lower fuel prices and airfares. The Office for ...
Head of embattled G4S security force retires
The chief executive of security firm G4S is to retire after a tumultuous year that saw the company fail to fulfill its Olympic contract. The company ...
Asia stocks muted ahead of Fed meeting
Asian stock markets struggled to post gains Tuesday as investors waited for the U.S. Federal Reserve to telegraph what it plans to do next with its ...
Ryanair keeps growing, reports record profits
Ryanair reported record profits Monday as Europe's largest budget airline expanded its route network across the continent and into North Africa.
Ex-Saab executives arrested on accounting charges
A Swedish prosecutor says three former executives of automaker Saab Automobile AB have been arrested on accounting fraud charges. Prosecutor Olof ...
Actavis buying Warner Chilcott in $8.5B deal
Actavis is buying Warner Chilcott in an all-stock transaction valued at about $8.5 billion which would create the third-biggest specialty ...
Oil price falls below $96 a barrel
The price of oil fell Monday ahead of the release later this week of economic data from the U.S. and China, the world's two largest economies, and a ...
Union leads march in Rome calling for job creation
A union of Italian metal workers has led thousands of people in a march through the heart of Rome to press the new government for measures to spur job ...
Cyprus drops limits on 8 more foreign banks
Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the ...
Italian Cabinet passes first economic measures
Italy's new cross-party government has adopted its first measures to help the economy. They include suspending a tax on primary residences and ...
Greece faces slow, jobless recovery next year
Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three ...
Fitch downgrades Slovenia amid banking concerns
Fitch Ratings agency has downgraded Slovenia's credit grade by one notch, citing a weak economic outlook and a frail banking system. It cut the ...