Economy

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 ...
Amazon workers in Germany stage strike
A union representing workers at Amazon in Germany says members are striking in a push for higher wages from the online retailer. The ver.di union said ...
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 ...
Airbus sales drive Q1 profits at parent company
European aerospace company EADS said strong deliveries by airplane maker Airbus helped drive higher earnings in the first quarter and laid out the ...
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 ...
3-man space crew returns safely to Earth
A Soyuz space capsule with a three-man crew returning from a five-month mission to the International Space Station landed safely Tuesday on the ...
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 ...
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 ...
Big retailers back safety accord in Bangladesh
Some of the world's largest retailers have agreed to a first-of-its-kind pact to improve safety at some of Bangladesh's garment factories following ...