Eurozone data raise GDP hopes Nov 13, 2009
Industrial production in the eurozone rose for the fifth consecutive month in September, sparking hopes that quarterly economic growth figures to be published on Friday could be higher than expected. Economic forecast. (FT.com -- Markets)
LA Church 'agrees abuse pay deal' Nov 13, 2009
Eurozone emerges from recession. I agreed to become a suicide bomber. (Yahoo News -- Catholic Church Abuse Scandal)
LA cardinal offers abuse apology Nov 13, 2009
----------------- ----------------- RELATED BBC SITES. Last Updated: Monday, 16 July 2007, 19:48 GMT 20:48 UK. (Yahoo News -- Catholic Church Abuse Scandal)
NHS heroin 'will protect women' Nov 13, 2009
Eurozone emerges from recession. Rosetta makes final home call. (Yahoo News -- Substance Use)
Recession ends across Europe Nov 13, 2009
Both the mainstay eurozone of 16 countries and the 27-nation European Union as a whole, home to half a billion people, posted growth of 0 ... 3 percent in France, lay behind the resurgent eurozone ... However, Britain, which lies outside the eurozone, remained mired in negative growth of 0. (Sydney Morning Herald -- World)
Rand slips slightly Nov 12, 2009
"Still, it all comes back to EUR/USD. Unless trade gets sustainably through EUR/USD1.50, USD/ZAR downside will fade away. Eurozone industrial production data at midday today offers some risk, but probably the key will be tomorrow's eurozone GDP and US consumer confidence data. For now trade looks to remain in the 7.34 40 range. "Both major SA business news papers are, meanwhile, running stories this morning disputing that the ZAR is too strong. The FT meanwhile reports how emerging market... (iAfrica.com)
Europe sets down firm deficit deadlines Nov 12, 2009
The commission's proposals have still to get past EU finance ministers, but its zeal on the issue stems from figures issued last week showing that eurozone public deficits were set to triple this year to 6. 4 percent of GDP, and almost 7. (Yahoo! Asia News)
Gold gets extra shine on weak dollar Nov 10, 2009
In the absence of a dip in liquidity, and any major US or Eurozone data or event scheduled this week that could adversely impact the market, prices are likely to remain high, he said. But, high prices are adversely impacting the demand. (India Times)
IMF: Low Rates Fund Risky Dollar Carry Trade Nov 10, 2009
Rising currencies hurt Eurozone and emerging market countries by making their exports more expensive. In addition, a falling dollar could make it difficult for the United States to attract foreign capital to finance $1 trillion budget deficits. (Newsmax)
Insight: Corporates hold key to recovery Nov 10, 2009
Analyse this years gross domestic product falls in the US, eurozone and Japan and you will discover that the dominant contributing factor has been the collapse of corporate, rather than consumer, spending. Capital spending has been cut back brutally and inventory levels run down. (FT.com -- Markets)
Bring me sunshine Nov 10, 2009
" Yet while the UK Foreign Office says most visits to Kosovo are "trouble free", it cautions against going to the North Mitrovica region due to "sporadic disturbances" between the Serbian minority and Kosovan majority. A much easier sell is the Caribbean island nation of St Kitts and Nevis, whose representatives said visitor numbers have risen strongly this year, thanks to new scheduled flights from British Airways. Seeking valueTravel industry expert Mike Bugsgang, managing director of... (BBC News -- UK)
Nobel laureate brings Bangladesh business model to Europe Nov 9, 2009
"You can create a job for others, you don't have to wait to have a job," Reitz stressed as the eurozone struggles to reduce unemployment that is tipped to hit 10. 9 per cent by 2011. (Sydney Morning Herald -- Business)
Zhou Seeks to Deflect European, Japanese Appeals for Yuan to Strengthen Nov 8, 2009
The eurozone and other G-10 nations wish to see the yuan strengthen, somewhat in contrast to Governor Zhous view, said , currency strategist in London at UBS AG. We believe the yuan will remain stable. . (Bloomberg -- Asia)
Major economies 'all recovering' Nov 7, 2009
It also suggested that the 16 nations that make up the eurozone were, collectively, indicating expansion. The other regional groupings used by the organisation - the major five Asian economies of China, India, Indonesia, Japan and Korea; the G7 nations (see graph); and the 30 members of the OECD itself - all indicate recovery. (BBC News -- Business)
European, British central banks leave rates alone Nov 6, 2009
Most economists expect the eurozone to show growth when third quarter figures come out next week. Nonetheless, the Bank of England said a number of indicators of spending and confidence were up, suggested that "a pickup in economic activity may soon be evident.". (USA Today -- Money)
G-20 Members Will Seek Asian Currency Gains to Solve Imbalances, UBS Says Nov 6, 2009
The Eurozone will likely press hard on the topic, and Asia will once again be on the receiving end of complaints due to inflexibility in many of the regions currencies, Yu wrote. According to the U.S. Treasury, the U.S. is also seeking to use the G-20 to push for a plan for global rebalancing. (Bloomberg -- Germany)
Eurozone interest rates unchanged Nov 6, 2009
After the rates announcement was made the president of the European Central Bank, Jean-Claude Trichet, predicted the eurozone economy would recover gradually in 2010 ... Next week, the release of third quarter eurozone economic growth figures are expected to show the bloc exited recession, growing by around 0 ... And he said in the coming months, annual inflation rates - which are currently negative in the eurozone area - are projected to turn positive again. (BBC News -- Business)
ECB, BoE hold interest rates at record lows Nov 6, 2009
0 percent for the eurozone and 0 ... Trichet also pressed eurozone governments to establish a "clear and credible exit strategy" to correct "high and sharply rising fiscal imbalances." ... It would mark the first step to undo exceptional measures supporting the eurozone economy. (Yahoo! Asia News)
Eurozone retail sales fall Nov 6, 2009
Eurozone retail sales fell unexpectedly in September, highlighting weak consumer sentiment and raising questions about the basis for the regions expected economic recovery. Economic forecast. (FT.com -- Markets)
US eyes covered bond comeback Nov 5, 2009
The European Central Bank kick-started the market in May when it pledged to buy 60bn ($89bn) of these securities to revive the eurozone economy. EDITORS CHOICE. (FT.com -- Markets)
PAUL KRUGMAN: Stimulus plan too little of a good thing Nov 5, 2009
The European Commission on Tuesday predicted that the EU and eurozone will grow in 2010 at a modest rate of 0. 7 percent as the economy moves from a sharp recession to a hesitant and fragile recovery. (Fresno Bee -- Opinion)
European stocks weaken at open Nov 5, 2009
LONDON: Europe's main stock markets fell at the start of trading on Thursday, after large gains a day earlier, as investors awaited interest rate decisions in Britain and the eurozone ... Europe's main stock markets fell at the start of trading on Thursday, after large gains a day earlier, as investors awaited interest rate decisions in Britain and the eurozone. (India Times)
German indignation over GM decision to keep Opel Nov 4, 2009
A day after official figures showed the U.S. economy finally returned to growth, the data released by the EU statistics agency Eurostat gave fewer reasons for joy: eurozone unemployment rose to a 10-year high of 9. 7 percent in September. (Fresno Bee -- Business)
Risk aversion returns Nov 4, 2009
Central banks in the US, the UK and the eurozone are and the US , will give investors a key update on what appears to be a jobless recovery. EDITORS CHOICE. (FT.com -- Markets)
World Bank: Malaysia'a 2009 GDP to contract 2.3%, grow 4.1% in 2010 Nov 4, 2009
Developments in the region remain strongly influenced by China as the projected GDP increase this year will offset three quarters of decline in the GDPs of the United States, the Eurozone and Japan. With the projected 8. (The Star Online, Malaysia)
EU hikes growth forecasts, warns on jobs Nov 4, 2009
BRUSSELS (AFP) - The European Commission said on Tuesday it now expected the eurozone economy to expand rather than contract in 2010 but warned that rising unemployment and public deficits would remain problems for several years ... In a sign that the worst of the deepest and longest recession in European Union history may be over, the commission revised its eurozone growth estimate up to 0 ... As governments try to spur growth, the commission predicts that the overall eurozone government... (Yahoo! Asia News)
Markets watch European Central Bank for exit plan Nov 3, 2009
LONDON: The European Central Bank is expected to keep its benchmark interest rate unchanged at the historic low of 1 percent Thursday - and could indicate the eurozone won't see growth strong enough to warrant a hike for quite a while ... "While we have maintained our view that further clarity and official announcements from the ECB will most likely come at the time of the December press conference, the possibility that it may come as early as Thursday's meeting has increased following Weber's... (The Star Online, Malaysia -- Business)
3 Economic Reports Fuel Recovery Hopes Nov 3, 2009
A purchasing managers' index measuring the 16-nation eurozone expanded last month for the first time in a year-and-a-half, while a British survey spiked to 53. 7 in October from 49. (CBS News)
Kenya: High Tea, Coffee Prices Offer Hope for Country's Recovery Nov 3, 2009
The eurozone - which is Kenya second largest market as a bloc after the East African Community - recorded a marginal -0 ... 5 per cent in the year to October 2010 while Eurozone and Japan will grow 0. (allAfrica.com)
Japan wants yen to be the anchor of Asia Nov 3, 2009
The senior official expressed some surprise that policy makers in the eurozone were not more troubled by the weakness of the dollar against the single currency, a trend which is making exports from Europe more expensive. Japan believes China should already be making plans for the flotation of the renminbi to prevent the development of a huge asset bubble. (Yahoo News -- Asian Economy)
Stronger signs of world recovery arise Nov 3, 2009
The figures come as central bankers weigh up the strength of recovery ahead of interest rate decisions in the eurozone and the UK on Thursday. Additional reporting by Simone Baribeau in New York. (CNN -- International)
Asian markets tumble on Wall Street loss, US bank failure Nov 2, 2009
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Not To Be President Blair After All Nov 2, 2009
A native English-speaker who has been in Washington for a while, but from a country which is in the Eurozone and wasnt in the Iraq War. The two main Irish parties are notoriously difficult to place on any normal ideological spectrum, but Christian Democrat is not a bad description of either, and perhaps especially of Brutons Fine Gael. (The American Conservative)
ECB rates on hold, experts view bank loan policy Nov 1, 2009
Interest rates in the Eurozone are set firmly on hold and any signs of change will probably show up first in the bank's exceptional loan support measures, analysts say. FRANKFURT (AFP) - Eurozone interest rates are set firmly on hold and any signs of change will probably show up first in the European Central Bank's exceptional loan support measures, analysts say ... The rate has been at a record low since May and persistent concern over the strength of an anticipated eurozone economic recovery... (Yahoo! Asia News)
Eurozone jobless worst since 1999 Oct 31, 2009
September's eurozone unemployment was the worst since 1999 ... This brought the number of people unemployed across the eurozone region to 15 ... Spain has the highest eurozone unemployment rate at 19. (BBC News -- Europe)
Economic Outlook: Bank faces quandary Oct 31, 2009
The eurozone PMI is expected to be confirmed at 49, below the no-change mark, and UK PMI is seen rising from 49. 7 in August to 50. (FT.com -- Markets)
Tapping into the power of 1 Oct 31, 2009
Well, the concept of 1Region can perhaps be seen in Europe, where 16 nations, including Germany, France, Ireland and Spain, form the eurozone an economic and monetary union established since 1999 ... As for the common currency proposed for the Asian region, an economist based in Singapore in an e-mail reply to StarBizWeek, says: A common currency is a nice idea, but the execution is likely going to be more challenging for Asia than the eurozone, which took about 50 years to create the common... (The Star Online, Malaysia -- Business)
Recovery hopes as Germany posts jobless fall Oct 30, 2009
0 percent in September, official data showed, as the country, which accounts for one-third of eurozone output, showed signs of emerging from its worst slump in 60 years ... Some analysts also hailed the data, with Jennifer McKeown from Capital Economics saying: "Signs of improvement in the labour market support our view that Germany will lead the eurozone economic recovery over the coming quarters.". (Yahoo! Asia News)
Bullish industry lifts eurozone confidence Oct 30, 2009
Financial Times FT.com. All times are London time. (FT.com -- Markets)
Eurozone poll points to easier credit Oct 29, 2009
Eurozone banks will start easing credit conditions for businesses in the final months of this year, according to a closely watched European Central Bank poll, which also highlighted swelling demand in the 16-country region for loans to buy houses. The latest ECB added to evidence that supply constraints on lending have reached a turning point and could boost hopes they will be less of a brake on economic activity than feared. (FT.com -- Markets)
Presidency: Names in frame Oct 29, 2009
He is the EU's longest serving PM and head of the Eurogroup of finance ministers from eurozone member states. He has been at the heart of major EU negotiations since the signing of the Maastricht Treaty in February 1992. (BBC News -- Europe)
Eurozone lending sees first fall Oct 28, 2009
Bank lending to companies operating in the eurozone fell in September for the first time on record, according to the European Central Bank ... The worry is that weak lending from banks will hinder any recovery in the eurozone economy ... "The September credit data reinforce concerns that weak bank lending could hold back eurozone recovery," said Howard Archer at IHS Global Insight. (BBC News -- Europe)
Eurozone lending contracts for the first time: ECB Oct 28, 2009
Eurozone bank lending to the private sector shrank in September for the first time on record, the European Central Bank has said, a stark warning that any recovery is fraught with uncertainty. FRANKFURT (AFP) - Eurozone bank lending to the private sector shrank in September for the first time on record, the European Central Bank said on Tuesday, a stark warning that any recovery is fraught with uncertainty ... "There are still few signs that the ECBs unlimited provision of liquidity to banks is... (Yahoo! Asia News)
Eurozone lending to private sector declines Oct 28, 2009
The eurozone saw the first year-on-year fall in bank lending to the private sector last month, even as signs became stronger that the 16-country regions economy had returned to growth. Septembers eurozone credit numbers indicated lending had been scaled back at an unprecedented pace, strengthening the case for the European Central Bank to maintain its ultra-loose interest rate policy. (FT.com -- Markets)
Euro hits fresh 14-month highs against dollar Oct 27, 2009
European Central Bank (ECB) governing board member Christian Noyer declined to comment on the euro's strength at a seminar in Singapore, easing market worries that eurozone officials may step up efforts to talk down the currency ... 0 percent since May in a bid to encourage lending by eurozone banks as recovery takes hold. (Yahoo! Asia News)
Quiet rand tracks euro Oct 25, 2009
50 early on Friday in New York, and was little changed from its day-earlier levels after rising Asian stocks and strong eurozone economic data continued to stoke investors' appetite for the higher-yielding currency. Sterling fell as third quarter economic growth data dashed hopes that the UK economy had emerged from the recession, instead posting the sixth consecutive contraction. (Business Report, South Africa)
Britain must wait to exit recession Oct 24, 2009
"It is impossible even to take comfort from the fact that the rate of contraction moderated to 0.4 percent quarter-on-quarter ... especially as the eurozone and the US seem highly likely to have grown in the third quarter.". A far weaker-than-expected performance from Britain's powerhouse services sector was behind the unexpected third quarter outcome. (Yahoo! Asia News)
British economy still stuck in recession Oct 24, 2009
"It is impossible even to take comfort from the fact that the rate of contraction moderated, especially as the Eurozone and the U.S. seem highly likely to have grown in the third quarter.". Britain was hit particularly hard by the global credit crunch because of its huge financial sector, where the government was forced to carry out a multibillion pound bailout of major banks, and higher levels of personal debt among consumers. (USA Today -- Money)
Dollar Gains Slightly, Circles Euro at $1.50 Oct 23, 2009
Interest rates in many countries and the eurozone are higher than the current rock-bottom U.S. rates, providing currency traders a better return on non-dollar holdings. They're likelier to sell the dollar and buy up stocks and other currencies when they feel more confident about the state of the broader economy, which has been the general trend since spring. (ABC News -- Wire)
Common sense emerging on drug enforcement Oct 21, 2009
STRATFOR Eurozone finance ministers met in Luxembourg on Oct. 19 and expressed their concern about the weak U.S. dollar, which must be strong for European export prices to be competitive. As long as the euro is rising against the dollar, continuing economic recovery in the eurozone is at risk. (Atlanta Journal-Constitution -- Opinion)
European Central Bank seeks to cool euro's soar to 14-month high Oct 20, 2009
Jean-Claude Trichet, the eurozone's top central banker, said European officials "have a vested interest in a solid and stable currency system.". The ECB president says he and eurozone finance ministers echoed recent comments by U.S. officials on the importance of a strong dollar ... "We trust what they say," he said He also repeated comments he made earlier this month, saying the main message that eurozone finance ministers and the ECB have is that "excessive volatility and disorderly movements... (The Star Online, Malaysia -- Business)
Euro chiefs express 'worries' over US, China export squeeze Oct 20, 2009
Meantime, the falling yuan -- not to mention the pound, with Britain the other major buyer of eurozone goods and services -- further threatens European prospects at a time when leaders are still pumping billions of stimulus funding into their economies. "It is foreseen that the three of us will travel to China before the end of this year and discuss the exchange rate policy," said Juncker, without giving any detail as to what message they would carry. (Yahoo! Asia News)
Eurozone trade falls into deficit Oct 17, 2009
The eurozone trade balance with the rest of the world slipped into deficit in August after a big surplus in July, as exports fell by more than imports ... "It is worrying for eurozone recovery prospects to see that seasonally adjusted exports plunged by as much as 5.8% month-on-month in August, which more than wiped out the gains of the previous two months," said Howard Archer at IHS Global Insight ... The eurozone, which consists of 16 countries, is still officially in recession, although its... (BBC News -- Europe)
Eurozone exports tumble sharply Oct 17, 2009
Eurozone exports tumbled unexpectedly sharply in August, raising fresh doubts about the strength of the 16-country regions economic recovery. Exports to countries outside the eurozone fell 5. (FT.com -- Markets)
More banks turn to covered bonds Oct 16, 2009
The sharp fall in covered bond spreads, which have narrowed significantly since the European Central Bank announced plans to purchase these assets to stimulate the eurozone economy in May, has proved a big attraction for banks. EDITORS CHOICE. (FT.com -- Markets)
Growth peps up global confidence Oct 15, 2009
The eurozone is coming out of the recession fairly quickly and in decent shape and the US is improving. . (India Times)
Why Libor concerns persist Oct 14, 2009
Three month Libor rates have fallen almost to the levels of base rates in the US and the UK and below base rates in the eurozone. You have viewed your allowance of free articles. (FT.com -- Markets)
Gold to tread higher, may test record high Oct 13, 2009
Investors would also closely watch the US and eurozone inflation data due later in the week to see whether governm 00004000 ent stimulus is feeding higher prices, which may lead to early monetary tightening. The most-traded gold December contract was 0. (India Times)
Economic outlook: Risks of inflation and deflation Oct 12, 2009
Inflation rates have turned negative in the US, the eurozone, Japan, Switzerland and Sweden but the UKs performance has been affected by rising import prices due to sterlings weakness ... In the eurozone, industrial production data for August, due on Wednesday, is forecast to show a rise of 1 per cent, slowing the year-on-year decline from -16. (FT.com -- Markets)
Dollar regains some ground amid policy speculation Oct 10, 2009
The eurozone economy was stabilizing and was expected to recover at a gradual pace, the ECB President Jean-Claude Trichet said after the meeting, but he warned that uncertainty remained high and the recovery was expected to remain rather uneven. The ECB appeared to be in no hurry to tighten policy, analysts said, expecting the bank to keep its rate at 1 percent well into 2010. (Xinhuanet, China)
* Fed must support economy: Bernanke Oct 10, 2009
NO CHANGE: The European Central Bank cautioned against hopes of a speedy economic recovery in the eurozone as it left benchmark interest rates at 1 ... And the European Central Bank on Thursday cautioned against hopes of a speedy economic recovery in the 16-nation eurozone as it left benchmark interest rates at a record low 1. (Taipei Times, Taiwan -- World)
ECB presses for fiscal exit plan Oct 9, 2009
The European Central Bank stepped up calls for ambitious government plans to consolidate public finances across the eurozone after leaving its main interest rate unchanged at the record low of 1 per cent.. Jean-Claude Trichet, ECB president, warned of an increasingly pressing need for ambitious and realistic fiscal exit and consolidation strategies to ensure the sustainability of public finances in the 16-country region. (FT.com -- Markets)
Euro economy 'is out of freefall' Oct 9, 2009
The eurozone economy has seen the worst of the recession and is "out of freefall", the president of the European Central Bank has said ... Earlier this week, revised figures showed eurozone economic activity shrank by 0 ... Analysts expect the rate for the eurozone to stay low for some time. (BBC News -- Europe)
Bank of Korea keeps key rate at record low Oct 9, 2009
At a news conference following the ECB's rate decision, Trichet said there have been growing signs since the second quarter that the economy of the 16-nation eurozone is out of its "freefall.". Asia markets gain after data boosts Wall Street. (Fresno Bee -- Business)
ECB locks interest rate at record low of 1.0 percent Oct 9, 2009
The eurozone economy contracted in the second quarter of 2009 by 0 ... The central bank chief touched briefly on the ECB's recent one-year loans of 75 billion euros (111 billion dollars) and sidestepped a question related to what some experts say is becoming "a two-tier money market" in the eurozone ... Major banks have access to credit and cash, but small and medium-sized institutions "remain addicted to ECB liquidity," UniCredit chief eurozone economist Aurelio Maccario warned. (Yahoo! Asia News)
