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EU commissioner sees little subprime impact on EU growth
AFP - The crisis in the US subprime mortgage market will not have a discernable effect on on EU growth in 2007, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said here Monday.
Eurozone growth slows in second quarter to 2.5 percent
AFP - Economic growth in the 13-nation eurozone slowed to 0.3 percent in the three months to June and 2.5 percent over one year on weaker business investment and construction activity, official EU data showed Tuesday.
EU's Almunia sees Europe's economy weathering market turmoil
AFP - The European economy should weather recent turmoil on financial markets although the turbulence could become worse, the EU's Economic and Monetary Affairs Commissioner said Wednesday.
ECB likely to hold interest rates
AP - The European Central Bank meets Thursday to decide how best to guide the 13-nation euro zone through a storm of market volatility, with many analysts believing it will opt to keep interest rates on hold for now.
FTSE 100 slips after weak US jobs data
AFP - The leading share index fell sharply Friday in reaction to a surprise fall in US non-farm payroll numbers which increased the view that the Federal Reserve must cut interest rates to stop the US economy sliding into recession.
With eurozone growth past peak, EU trims forecast
AFP - Economic growth in the 13-nation eurozone has probably passed its peak, the European Commission said Tuesday, trimming its 2007 estimate due to financial market turmoil and a weak French performance.
Mining groups BHP Billiton, Kazakhmys heavy fallers on FTSE 100
AFP - The FTSE 100 fell into negative territory as mining groups bore the brunt of a volatile trading session Wednesday.
Dollar hits new lows for second day
AP - The dollar slipped to a new all-time low against the euro Thursday, with the European currency bringing $1.3920 amid speculation about a U.S. interest rate cut.
EU finance ministers to back banks to deal with credit crunch: report
AFP - European Union finance ministers will back the ability of banks and financial institutions across the 27-nation bloc to deal with the credit crunch in the financial markets on their own at a meeting over the weekend, the Financial Times reported on Friday.
EU ministers agree to crisis management blueprint
Reuters - European Union finance
ministers and central bankers agreed on Saturday to step up
co-operation among themselves to improve their handling of
cross-border financial crises.
EU adopts flexible stance on bank crises
FT.com - European Union finance ministers and central bankers decided at the weekend against establishing fixed rules in advance on how to bail out banks or other financial institutions that have cross-border operations in the EU.
Banking shares tumble on Northern Rock fallout
AFP - The FTSE 100 index of leading shares shed 1.56 percent of its value as nervous investors lost faith in banks after the value of troubled lender Northern Rock slumped by more than 30 percent for the second consecuetive day.
FTSE 100 rebounds as banking shares claw back losses
AFP - The leading share index recorded slight gains Tuesday as the banking sector rebounded slightly led by troubled lender Northern Rock.
Asian, European stocks rally after Fed's rate cut sparks Wall Street surge
Canadian Press - TOKYO (AP) - Asian and European stock markets rallied Wednesday in the wake of Wall Street's overnight surge spurred by the U.S. Federal Reserve's larger-than-expected interest rate cut.
With US backing, Strauss-Kahn sails toward top IMF post
AFP - With the powerful help of backing from the United States, Dominique Strauss-Kahn, the European Union candidate for managing director of the International Monetary Fund, appears set to sail to victory next week.
FTSE 100 firms as Northern Rock rebounds on takeover rumours
AFP - Leading shares closed in positive territory with Northern Rock clawing back some of its recent losses on hopes that a mystery bidder is planning a takeover of the embattled lender.
ECB head bemoans state of French finances
AFP - European Central Bank head Jean-Claude Trichet said Sunday that France's public finances were in "very great difficulty" with the worst public spending to output ratio in the European Union.
Strong mining sector helps FTSE 100
AFP - A resurgent mining sector helped the leading share index finish in positive territory, dealers said Monday.
Indian shares hit record, up 9 pct in six days
Reuters - India's main share index rose 0.32 percent to its fifth straight record close on Tuesday, taking its gains over the past six sessions to 9 percent, but momentum was dented by losses in U.S. and European markets.
British economic growth upgraded in second quarter
AFP - The British economy grew at a faster than expected annual rate during the second quarter of 2007, official data showed on Wednesday.
Markets turmoil could hit British economy: OECD
AFP - The recent financial markets chaos which plagued banking group Northern Rock could put the brakes on Britain's economic growth, the OECD warned Thursday.
EU worried by weak dollar: European commissioner
AFP - The European Union's economy commissioner said in a newspaper interview Friday the bloc is worried about the low level of the dollar against the euro.
Ex-communist EU states feel pinch of labour shortage: World Bank
AFP - The European Union's 10 ex-communist states, which were hit by massive unemployment after they shifted to a market economy almost two decades ago, are now facing a labour shortage, according to the World Bank.
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