In December 2011 compared with November 2011, seasonally adjusted industrial production1 fell by 1.1% in the euro area2 (EA17) and by 0.6% in the EU272. In November3 production remained stable in both zones. In December 2011 compared with December 2010, industrial production dropped by 2.0% in the euro area and by 0.9% in the EU27. Compared with 2010, the average production index for 2011 increas
Forexsq.com - England may be famous as the home of football, but when there's a big match on, English stockmarket traders appear to get far less distracted than financial professionals in other countries. The European Central Bank on Monday published an in-depth analysis of global trading patterns during the 2010 World Cup, which provides a fascinating insight into how football matches affected m
Forexsq.com - European finance chiefs get the second chance in a week to pull Greece back from the brink of collapse after lawmakers in Athens approved the austerity measures demanded for a financial lifeline.
Greece “will be saved in one way or another,” German Finance Minister Wolfgang Schaeuble told newspaper Welt am Sonntag yesterday, though the country must “do its homework.”
Forexsq.com - Greece's largest police union has threatened to issue arrest warrants for officials from the country's European Union and International Monetary Fund lenders for demanding deeply unpopular austerity measures.
In a letter obtained by Reuters Friday, the Federation of Greek Police accused the officials of "...blackmail, covertly abolishing or eroding democracy and national sovereig
forexsq.com - There’s nothing like the long Christmas break for calming things down. Back in early December, it looked as if the euro was on its last legs. Then everyone went on holiday, and by the time they got back, seemed quite to have forgotten what they were originally panicking about.
No one honestly believes the eurozone crisis has been vanquished, but since early January there has been
Forexsq.com - In the year to January 2012 the output price index for home sales of manufactured products rose 4.1 per cent, compared with a rise of 4.8 per cent last month. This is the lowest annual rate since November 2010, when the index also rose 4.1 per cent. •Between December and January the output index for home sales of manufactured products rose 0.5 per cent. •In the year to January 2012
Forexsq.com - European finance chiefs are set to defer ratifying a 130 billion-euro ($173 billion) rescue for Greece, pressing the government in Athens to put a newly struck austerity plan into action.
“It’s up to the Greek government by concrete actions -- through legislation, other actions -- to convince its European partners that the second program can be made to work,” European Union Econo
Forexsq.com - The leader of the right-wing Popular Orthodox Rally (LAOS), Giorgos Karatzaferis, indicated early on Thursday that he was unwilling to agree to the terms of a new bailout for Greece. Leaving the Maximos Mansion, Karatzaferis quoted a poem by Constantine P. Cavafy, suggesting that he had rejected the deal. On returning to his partys headquarters, he clarified that he objected to sign
Forexsq.com - Strategists are looking for ways to trade on signs of U.S. economic renewal. Friday's nonfarm payroll report didn't just upend forecasts for the U.S. economy. It also sent strategists to their screens to identify the best ways to play it. With low U.S. interest rates, the dollar [.DXY 78.61 -0.47 (-0.59%) ] is just one option, and plenty of experts think the other higher-yielding No
Forexsq.com - The leaders of the eurozone's two most powerful economies increased pressure on Greek leaders "live up to their responsibilities" as patience with the struggling nations wears thin. Angela Merkel, the German Chancellor, said on Monday: "We want Greece to stay in the euro ... but I also say - there can be no new Greece programme if agreement is not reached with the Troika ... All tho
ForexSQ.com - J.P. Morgan Chase, the bank that now holds the most deposits in the country, has reached an agreement to pay $110 million to those who paid heavy fees for the proverbial “cup of coffee” that overdrafted their accounts.
The settlement, revealed in a court document late Friday night, would mark another big victory for a long-running consolidated suit that’s going on in Miami federa
Forexsq.com - Chinese shoppers on their Lunar New Year holiday were less lavish than expected by Hong Kong jewelers, curbed spending on beauty brands and slowed spending at South Korean stores. They may keep that pace in the coming year of the dragon.
Holiday sales on the mainland grew 16 percent to 470 billion yuan ($75 billion), according to data from the Ministry of Commerce, the slowest pa
Foprexsq.com - European leaders maintained pressure on Greece to accept terms demanded by international lenders during a weekend of talks to avert a financial collapse.
Interim Greek Prime Minister Lucas Papademos struck a tentative deal with party leaders to boost economic competitiveness and extend spending cuts after euro-area finance chiefs told them an increase in the 130 billion-euro ($1
Employment climbed more than forecast in January and the U.S. jobless rate unexpectedly fell to the lowest in three years, casting doubt on the Federal Reserve’s pledge to keep interest rates low until late 2014.
The 243,000 increase in payrolls was the most since April and exceeded all forecasts in a Bloomberg News survey, Labor Department figures showed in Washington. The unemployment rate d
Forexsq.com - U.S. companies hired the most workers in nine months and the nation’s unemployment rate fell to the lowest level in nearly three years, according to the government’s employment report for January.
The U.S. gained 243,000 jobs last month and the unemployment rate dipped to 8.3% as most sectors of the economy added workers, the Labor Department said Friday.
