http://www.mail.com/int/business/ News - Stories and Pictures of Economy, Markets, Jobs and Business in Business - mail.com en en http://sec-s.uicdn.com/mail.com/2.28/img/mailcom_logo_rss.png http://www.mail.com/int/business/ http://www.mail.com/int/business/economy/2095142-union-leads-march-rome-calling-job-creation.html ROME (AP) — 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 creation. FIOM union leader Maurizio Landini said Saturday's protest was held because Italy is "going nowhere" in terms of signs of economic growth amid a stubborn recession. The union is aligne... Sat, 18 May 2013 16:47:55 GMT http://www.mail.com/int/business/economy/2095142-union-leads-march-rome-calling-job-creation.html 2013-05-18T16:47:55Z http://www.mail.com/int/business/economy/2093730-cyprus-drops-limits-8-foreign-banks.html NICOSIA, Cyprus (AP) — Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the debt-laden country. The Finance Ministry said in a new decree the capital control exemptions now apply to Lebanon's Banque Bemo, BBAC, Credit Libanais and Bank of Beirut, France-based B... Fri, 17 May 2013 20:03:18 GMT http://www.mail.com/int/business/economy/2093730-cyprus-drops-limits-8-foreign-banks.html 2013-05-17T20:03:18Z http://www.mail.com/int/business/markets/2093268-glance-europes-key-institutions.html Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Here is a look at the key institutions involved in Europe's economic policymaking: —EUROPEAN UNION An economic and political partnership among 27 European countries. It has a combined populat... Fri, 17 May 2013 18:20:26 GMT http://www.mail.com/int/business/markets/2093268-glance-europes-key-institutions.html 2013-05-17T18:20:26Z http://www.mail.com/int/business/economy/2093542-italian-cabinet-passes-economic-measures.html ROME (AP) — Italy's new cross-party government has adopted its first measures to help the economy. They include suspending a tax on primary residences and allocating funds to extend a short-term layoff scheme. The Cabinet also eliminated stipends for the premier and the Cabinet members beyond their base salary as lawmakers. The government allocated 1 bill... Fri, 17 May 2013 17:37:24 GMT http://www.mail.com/int/business/economy/2093542-italian-cabinet-passes-economic-measures.html 2013-05-17T17:37:24Z http://www.mail.com/int/business/economy/2092882-greece-faces-slow-jobless-recovery-year.html ATHENS, Greece (AP) — 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 years, the country's international debt inspectors said. The European Commission issued the gloomy predictions Friday in a 237-page assessment of Greece's bailout agreement, as the countr... Fri, 17 May 2013 17:33:48 GMT http://www.mail.com/int/business/economy/2092882-greece-faces-slow-jobless-recovery-year.html 2013-05-17T17:33:48Z http://www.mail.com/int/business/economy/2093436-fitch-downgrades-slovenia-amid-banking-concerns.html LONDON (AP) — 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 government bond rating to BBB+ from A-, which is still investment grade. It left a negative outlook, suggesting there's a risk of another downgrade. Fitch said the prospects for Slovenia's economy an... Fri, 17 May 2013 17:02:52 GMT http://www.mail.com/int/business/economy/2093436-fitch-downgrades-slovenia-amid-banking-concerns.html 2013-05-17T17:02:52Z http://www.mail.com/int/business/economy/2092704-world-stocks-strong-weekend.html AMSTERDAM (AP) — World stock markets rose steadily on Friday after two key indicators suggested the U.S. economic expansion will continue. The Conference Board reported that its leading indicator index for the U.S. increased 0.6 percent in April, following a 0.2 decline in March, due to recovering housing and labor markets. "In general, the (index) points... Fri, 17 May 2013 16:42:52 GMT http://www.mail.com/int/business/economy/2092704-world-stocks-strong-weekend.html 2013-05-17T16:42:52Z http://www.mail.com/int/business/economy/2093046-imf-cyprus-risk-deeper-recession.html WASHINGTON (AP) — The IMF said Friday that substantial risks still loom for the Cypriot economy even after a multi-billion dollar international bailout aimed at averting a debt default. A new IMF report predicted a deep recession in Cyprus this year and next and said there is a danger that the downturn could be even more severe if authorities do not adher... Fri, 17 May 2013 15:37:31 GMT http://www.mail.com/int/business/economy/2093046-imf-cyprus-risk-deeper-recession.html 2013-05-17T15:37:31Z http://www.mail.com/int/business/markets/2092874-eu-to-ban-reusable-olive-oil-bottles-eateries.html BRUSSELS (AP) — The small glass bottle filled, and refilled, with golden olive oil has long been a staple on many restaurant tables across Europe. Now, the European Union is going to ban it. The European Commission, the EU's executive, said Friday that, as of next year, restaurant customers will only be allowed to use oil from non-refillable bottles with ... Fri, 17 May 2013 15:06:45 GMT http://www.mail.com/int/business/markets/2092874-eu-to-ban-reusable-olive-oil-bottles-eateries.html 2013-05-17T15:06:45Z http://www.mail.com/int/business/economy/2093018-czech-us-cooperate-developing-reactors.html PRAGUE (AP) — The United States says it has completed a transfer of 75 kilograms (165 pounds) of salt coolant material to the Czech Republic as part of cooperation between the two countries in developing new nuclear reactors. The U.S. Embassy in Prague says the fluoride salt comes from the Department of Energy's Oak Ridge National Laboratory and will be u... Fri, 17 May 2013 13:43:30 GMT http://www.mail.com/int/business/economy/2093018-czech-us-cooperate-developing-reactors.html 2013-05-17T13:43:30Z http://www.mail.com/int/business/economy/2092972-spains-king-sheds-luxury-yacht-crisis-bites.html MADRID (AP) — Spain's King Juan Carlos is getting rid of the luxury yacht he and his family used during holidays in an apparent belt-tightening measure as the country braves an economic crisis. A palace spokesman says Friday the 75-year-old monarch is asking National Heritage authorities to shed the 41-meter (135-ft) "Fortuna," handing it over to the gove... Fri, 17 May 2013 13:20:37 GMT http://www.mail.com/int/business/economy/2092972-spains-king-sheds-luxury-yacht-crisis-bites.html 2013-05-17T13:20:37Z http://www.mail.com/int/business/economy/2092960-4-month-strike-psa-peugeot-citroen-plant-ends.html PARIS (AP) — A four-month strike at a car factory north of Paris has come to an end, although the workers say they will still fight a plan to close the plant. PSA Peugeot Citroen said Friday that it had signed an agreement with the CGT union to end the strike, which started in January. The CGT called the strike "suspended." Peugeot said around 130 of the ... Fri, 17 May 2013 13:10:34 GMT http://www.mail.com/int/business/economy/2092960-4-month-strike-psa-peugeot-citroen-plant-ends.html 2013-05-17T13:10:34Z http://www.mail.com/int/business/economy/2092434-oil-gains-to-96-investors-eye-us-economy.html The price of oil rose to near $96 a barrel on Friday ahead of the release of Conference Board's index of leading indicators for the U.S. economy. By early afternoon in Europe, benchmark oil for June delivery was up 45 cents to $95.61 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 86 cents on Thursday. The Conference ... Fri, 17 May 2013 11:44:03 GMT http://www.mail.com/int/business/economy/2092434-oil-gains-to-96-investors-eye-us-economy.html 2013-05-17T11:44:03Z http://www.mail.com/int/business/economy/2092430-european-car-sales-up-time-2011.html MILAN (AP) — The European auto industry may be showing the first signs of a slowdown in its sales free-fall, according to data from the European automaker's association. New car registrations in April were up 1.7 percent on the same time last year, the ACEA's latest figures show. Although the April rise has more to do with the two extra work days last mon... Fri, 17 May 2013 11:13:19 GMT http://www.mail.com/int/business/economy/2092430-european-car-sales-up-time-2011.html 2013-05-17T11:13:19Z http://www.mail.com/int/business/economy/2092522-ap-moller-maersk-posts-q1-profit.html COPENHAGEN, Denmark (AP) — Denmark's shipping and oil group A.P. Moller-Maersk says its first quarter earnings ticked up 13 percent to 9.5 billion kroner ($1.6 billion), partly due to lower freight costs. The Copenhagen-based group says revenue for the first three months dropped 2 percent to 79.3 billion kroner ($13.7 billion) from 81.3 billion kroner. Ma... Fri, 17 May 2013 06:52:50 GMT http://www.mail.com/int/business/economy/2092522-ap-moller-maersk-posts-q1-profit.html 2013-05-17T06:52:50Z http://www.mail.com/int/business/markets/2089858-greek-pm-china-seeking-investment-trade-deals.html BEIJING (AP) — Greece's prime minister is in China seeking investment and trade deals to help revive his country's recession-battered economy. Antonis Samaras met Thursday with Chinese Premier Li Keqiang, after which the two witnessed the signing of agreements in fields including shipping and telecommunications. Li said during the meeting that China hopes... Fri, 17 May 2013 04:13:12 GMT http://www.mail.com/int/business/markets/2089858-greek-pm-china-seeking-investment-trade-deals.html 2013-05-17T04:13:12Z http://www.mail.com/int/business/economy/2090920-cyprus-presell-gas-reserves-to-ease-crisis.html NICOSIA, Cyprus (AP) — Cyprus may presell the country's offshore natural gas reserves to raise cash quickly and pull it out of its deep financial crisis, the country's finance minister said Thursday. Harris Georgiades said the country's nascent gas sector still has some way to go before such weighty decisions are taken. But all options that will help the ... Thu, 16 May 2013 19:24:16 GMT http://www.mail.com/int/business/economy/2090920-cyprus-presell-gas-reserves-to-ease-crisis.html 2013-05-16T19:24:16Z http://www.mail.com/int/business/economy/2089898-merkel-hollande-odds-europes-way-forward.html BERLIN (AP) — Germany and France recognize that their cooperation is key to overcoming Europe's persistent economic crisis, but comments Thursday by the leaders of the continent's No. 1 and 2 economies suggested they still have diverging priorities. French President Francois Hollande argued that the 17-nation eurozone should integrate more, calling for gr... Thu, 16 May 2013 17:55:32 GMT http://www.mail.com/int/business/economy/2089898-merkel-hollande-odds-europes-way-forward.html 2013-05-16T17:55:32Z http://www.mail.com/int/business/economy/2090864-nasa-pump-resolves-big-space-station-leak.html CAPE CANAVERAL, Florida (AP) — An impromptu spacewalk over the weekend seems to have fixed a big ammonia leak at the International Space Station, NASA said Thursday. The "gusher" erupted a week ago, prompting the hastiest repair job ever by residents of the orbiting lab. Spacewalking astronauts replaced a suspect ammonia pump on Saturday, just two days af... Thu, 16 May 2013 17:47:36 GMT http://www.mail.com/int/business/economy/2090864-nasa-pump-resolves-big-space-station-leak.html 2013-05-16T17:47:36Z http://www.mail.com/int/business/economy/2091000-trump-to-court-to-oppose-scotland-wind-farm.html LONDON (AP) — American tycoon Donald Trump is taking legal action to challenge the Scottish government's decision to approve an offshore wind farm near his luxury golf resort. The Trump Organization said Thursday it has lodged a petition with Scotland's Court of Session. The company is asking for a judicial review of the decision by Scottish officials to ... Thu, 16 May 2013 17:38:22 GMT http://www.mail.com/int/business/economy/2091000-trump-to-court-to-oppose-scotland-wind-farm.html 2013-05-16T17:38:22Z http://www.mail.com/int/business/economy/2090076-global-luxury-goods-sales-slowing.html MILAN (AP) — Global sales of luxury goods are off to a slow start in 2013 and aren't expected to match the double-digit growth of the last three years, consultancy Bain & Co. said in a study released Thursday. Sales of luxury apparel, accessories, jewelry, cosmetics and art are expected to grow just 4 percent to 5 percent in 2013, to between 220 billion e... Thu, 16 May 2013 16:36:00 GMT http://www.mail.com/int/business/economy/2090076-global-luxury-goods-sales-slowing.html 2013-05-16T16:36:00Z http://www.mail.com/int/business/economy/2090078-pope-blasts-cult-money-that-tyrannizes-poor.html VATICAN CITY (AP) — Pope Francis has denounced the global financial system, blasting the "cult of money" that he says is tyrannizing the poor and turning humans into expendable consumer goods. In his first major speech on the subject, Francis demanded Thursday that financial and political leaders reform the global financial system to make it more ethical ... Thu, 16 May 2013 16:24:25 GMT http://www.mail.com/int/business/economy/2090078-pope-blasts-cult-money-that-tyrannizes-poor.html 2013-05-16T16:24:25Z http://www.mail.com/int/business/economy/2090764-shell-large-gas-business-nigeria-shut.html AMSTERDAM (AP) — Royal Dutch Shell PLC says it has stopped delivering gas to Nigeria LNG, one of the world's largest sellers of liquefied natural gas, due to a pipeline leak. Shell said Thursday 1.5 billion cubic feet of gas capacity per day has been shut down for the time being. The company described the leak as being located near the Awoba oil field, in... Thu, 16 May 2013 16:15:43 GMT http://www.mail.com/int/business/economy/2090764-shell-large-gas-business-nigeria-shut.html 2013-05-16T16:15:43Z http://www.mail.com/int/business/economy/2090040-ratings-firm-warns-economic-slowdown-russia.html MOSCOW (AP) — Russia faces harsh times ahead for its economy unless the government improves the country's poor investment climate and implements long-delayed privatizations and reforms, U.S ratings agency Standard & Poor's has warned. Russia has seen more than a decade of largely uninterrupted economic growth, thanks to its lucrative oil and gas industrie... Thu, 16 May 2013 15:16:03 GMT http://www.mail.com/int/business/economy/2090040-ratings-firm-warns-economic-slowdown-russia.html 2013-05-16T15:16:03Z