Search Results for: euro zone
Italy uncovers EUR 1.7 bn vast corporate fraud
October 22nd, 2014
Italy’s financial police on Tuesday said they had broken up a ring of companies they believe used false accounting to defraud the state out of 1.7 billion euros ($2.2 billion) of tax. “The illegal activity has led, over the ...
Soft Australian inflation supports low interest rates
October 22nd, 2014
Australian consumer prices rose 0.5 percent in the three months to September, official figures showed Wednesday, as the annual rate of inflation eased after the removal of a controversial carbon tax. The increase in the consumer price index (CPI) ...
Gold – Surges to Five Week High Above $1255
October 22nd, 2014
Gold for Wednesday, October 22, 2014 Over the last few days to finish out last week Gold ran into the previous key level at $1240 which has resisted and forced gold a little lower, however it has since surged ...
Before a Bailout, E.C.B. minutes showed doubts over keeping a Cyprus Bank afloat
October 20th, 2014
As the Cypriot economy reeled from the collapse of its second-largest bank in 2013, the European Central Bank faced a thorny question: Should it keep the institution, Cyprus Popular Bank, alive with short-term loans or pull the plug? By ...
E.U. Praise for Greece Fails to Stem Bond Sell-Off
October 17th, 2014
On Thursday, as more investors fled Greek bonds, they drove the government’s long-term borrowing costs to nearly 9 percent — up from 7 percent on Wednesday and the highest level since January. Although Greece appeared to be on the ...
In Court, Lawyer Calls E.C.B. Bond Plan ‘an Egregious Extension’ of Powers
October 14th, 2014
In legal news, Europe’s highest appeals court began hearing arguments on Tuesday morning on a suit that aims to block a European Central Bank bond-buying program that has never been deployed — but whose mere announcement two years ago ...
Further German economic slowdown is expected
October 14th, 2014
The ZEW Indicator of Economic Sentiment for Germany drops by 10.5 points in October 2014 and now stands at minus 3.6 points (long-term average: 24.5 points). Decreasing for the tenth consecutive time, the index has returned to negative territory ...
Five reasons oil prices are dropping
October 14th, 2014
As oil prices continue to fall, analysts and producers are trying to wrap their heads around the reasons and identify a floor price. Even though crude benchmarks like Brent and WTI keep dropping, the cost of finding oil continues ...
Emerging markets enter slow growth era
October 13th, 2014
Growth in emerging markets is slowing to its lowest ebb since the aftermath of the financial crisis due to a combination of China’s fading dynamism, a sputtering performance in eastern Europe and Latin America’s slowdown. Evidence that emerging economies ...
Mario Draghi urges governments to help fight deflation
October 10th, 2014
Mario Draghi is determined to tackle low inflation in the Eurozone, and has called upon governments to also play their part in the fight against possible deflation. The president of the European Central Bank (ECB) today announced a new ...