Economy

Iran, world powers to resume nuclear talks
Iran's chief nuclear negotiator says Tehran and the six world powers will resume talks on its nuclear program "in the near future." Saeed Jalili said ...
AB InBev abandons plans to acquire Czech Budvar
Brewing giant Anheuser-Busch InBev says it no longer has plans to acquire Czech brewer Budejovicky Budvar, with whom it has been fighting a long legal ...
Asia stocks mixed as Wall St. ignores euro gloom
Asian stock markets were mixed Thursday following dour European economic data that dampened hopes of a recovery there anytime soon. However, losses ...
Daimler unveils new flagship Mercedes model
Daimler AG has unveiled the newest version of its S-Class model from luxury brand Mercedes-Benz, a car that will play a key role in the company's ...
Eurozone recession is now longest in currency bloc
The eurozone is now in its longest ever recession — a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis ...
IMF approves funds for Cyprus bailout
The IMF's executive board has approved a $1.3 billion loan for Cyprus as part of a larger bailout package meant to avert a debt default. The IMF, one ...
A look at EU investigation of oil price fixing
The European Union's executive arm, the Commission, on Tuesday said it had raided the offices of a number of oil industry companies for possible ...
Bank of England sees 'modest, sustained' recovery
The Bank of England predicted a modest and sustained economic recovery for Britain on Wednesday, but tempered hope that the worst might be over with ...
Greece to break up state power company for money
Greece's conservative-led government on Wednesday announced plans to break up the state-run Public Power Corporation by 2016, as part of a ...
Oil falls below $93 on Europe, US economic news
The price of oil fell below $93 on Wednesday after disappointing economic reports from Europe and the U.S. By late morning in New York, benchmark oil ...
Portugal pays lower interest rates in debt auction
Portugal has collected 1.75 billion euros ($2.3 billion) in a debt auction, with a sharp drop in interest rates providing further evidence that market ...
French economy falls back into recession
France's economy is in recession again — and that could spell more trouble for Europe. The national statistics agency, Insee, said Wednesday that ...
Allianz: Low rates to keep earnings under pressure
Low losses from natural disasters and higher prices in the key markets of Germany, Turkey and Latin America lifted profits at German insurance company ...
German economy returns to modest growth
The German economy managed to avoid sinking into recession during an unusually cold first quarter, but only just, official figures showed Wednesday.
Steelmaker ThyssenKrupp to cut 3,000 office jobs
Steel and elevator maker ThyssenKrupp says it will cut 3,000 of its 15,000 office jobs over the next three years to streamline the company's ...
Asia stocks up as US small business mood improves
Enthusiasm on Wall Street sparked by another positive report on the U.S. economy helped push most Asian stock markets higher Wednesday. The National ...
Chains grapple with how to improve safety
While several more global clothing chains on Tuesday were announcing that they agreed to a historic pact to improve factory conditions in Bangladesh, ...
Secretive Vatican bank to publish annual report
The Vatican bank, long a source of secret and scandal for the Holy See, plans to publish its annual report online as part of its efforts to be more ...
Fitch upgrades Greece's credit rating
Debt-hobbled Greece got a new morale boost Tuesday, with Fitch ratings agency upgrading its sovereign credit grade, a day after the country's European ...
EU probes oil companies for possible price-fixing
European anti-trust authorities have launched investigations into at least three oil companies on suspicion of price-fixing. Britain's BP, Royal Dutch ...
Turkey: oil search deal reached in northern Iraq
Turkey says its state-run petroleum company has reached a deal with U.S. company Exxon Mobil to explore for oil in northern Iraq. Prime Minister ...
Intesa bank Q1 profits down 62 percent
Italian bank Intesa SanPaolo says first-quarter earnings fell 62 percent due to lower interest income and higher loan losses. The bank reported ...
Statoil gives key drilling contract to Noble Corp
Statoil says it has given Noble Corp. the contract to drill the Mariner oil field in a deal estimated at $655 million over four years. The Norwegian ...
Oil slides below $95 as US oil output seen rising
The price of oil slid below $95 a barrel on Tuesday as the International Energy Agency raised its U.S. oil production forecasts and cut its prediction ...
5 crew kidnapped from ship off Nigeria released
A German ship operator says five crew members kidnapped from one of its ships off the coast of Nigeria last month have been released. The five Polish ...