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International

  • China in talks with Airbus on possible $20bn deal – Sources

    China in talks with Airbus on possible $20bn deal – Sources

    China is in talks to buy at least 150 Airbus passenger jets potentially worth $20 billion when Xi Jinping pays his first visit to Europe as president at the end of this month, people familiar with the matter told Reuters. In a broad-ranging deal...

  • China signals focus on reforms and leaner, cleaner growth

    China signals focus on reforms and leaner, cleaner growth

    China sent its strongest signal yet that its days of chasing breakneck economic growth were over, promising to wage a “war” on pollution and reduce the pace of investment to a decade-low as it pursues more sustainable expansion. In a State of the...

  • Sluggish eurozone recovery confirmed in fourth quarter

    Rising exports and a gradual improvement in investments were behind the eurozone’s stronger-than-expected growth in the last quarter of 2013, data showed yesterday. The €9.5-trillion economy rose by 0.3 per cent in the October-to-December period,...

  • Nowotny eyes ‘self-correction’ of low inflation, strong euro

    Nowotny eyes ‘self-correction’ of low inflation, strong euro

    Low eurozone inflation and the strong euro could both start to self-correct this year without requiring any action from the European Central Bank, one of its policymakers Ewald Nowotny said in an interview. Speaking to Reuters on Tuesday the...

  • Tourism boom drives Greece to first current account surplus on record

    Record spending by foreigners as Greece’s tourism industry slashed prices helped the country’s current account post its first surplus last year since official data began in 1948, central bank figures showed yesterday. Current account deficits have...

  • Microsoft denies censorship of China-related searches

    Microsoft denies censorship of China-related searches

    Microsoft Corp. yesterday denied it was omitting websites from its Bing search engine results for users outside China after a Chinese rights group said the US firm was censoring material the government deems politically sensitive. GreatFire.org, a...

  • Turkey bank chief ignores Erdogan to save reeling lira

    Torn between an angry Prime Minister railing against an interest rate hike and punitive markets baying for a rise, Turkish Central Bank Governor Erdem Basci opted for a bold increase in rates that has stunned investors. On Tuesday morning, he...

  • Minicars fare worst in frontal crash test – report

    Minicars such as the Fiat 500 and Honda Fit performed worse than any other vehicle segment in a frontal crash test that mimics what happens when a car hits another vehicle, utility pole or tree. Of the 11 minicars tested by IIHS, only one won an...

  • Eurozone debt drops for first time in six years

    Eurozone government debt fell for the first time in nearly six years in the third quarter, data showed yesterday, adding to signs the bloc was turning the corner on the sovereign debt crisis. Debt in the 17 countries sharing the euro stood at...

  • UK joblessness plunges towards Bank of England target

    British unemployment plunged to within a whisker of the Bank of England’s level for considering an increase in interest rates, data showed yesterday, but the central bank stressed it would be in no rush to act. The unemployment rate dropped to 7.1...

  • Forecast for business lending in 2014 drops by €211bn

    Forecast for business lending in 2014 drops by €211bn

    This year the eurozone will experience annual GDP growth for the first time since 2011, but at just 0.9 per cent the growth will not be strong enough to support a level of uplift in financial services that will drive further economic recovery...

  • Latvia adopts the euro

    Latvia adopts the euro

    Now that Latvia adopted the euro yesterday – on the 15th anniversary of the launch of the euro in 1999 – 18 member states and 333 million Europeans share the same currency. European Commission President José Manuel Barroso said: “I am delighted to...

  • Debenhams warns on profits after poor Christmas

    Debenhams, Britain’s second-largest department store by sales, warned profits would fall well short of market expectations after a hoped-for surge in last minute Christmas shopping failed to materialise, sending its shares slumping. In an...

  • Eleven EU states to consider narrower transaction tax

    Eleven EU states to consider narrower transaction tax

    The 11 European Union countries that have pledged to tax financial transactions will consider excluding several key markets from the levy’s scope, an EU document showed. The 11 countries meet today to review plans for a tax on stock, bond and...

  • UK watchdog fines Lloyds £28 million

    Britain’s Financial Conduct Authority imposed a record £28 million fine on Lloyds Banking Group for the way it encouraged staff to sell products worth £2 billion that customers did not need or want. The FCA, launched in April to try and end...

  • Madame Nouy set to take on Europe’s banks

    The woman set to police Europe’s banks has spent much of her 40-year career rising through the ranks of French financial supervision, once a bastion of male domination. Danièle Nouy will become the most powerful woman in European banking when she...

  • UK unemployment edges closer to Bank of England threshold

    UK unemployment edges closer to Bank of England threshold

    Britain’s unemployment rate fell to 7.6 per cent in the three months to September, bringing it closer to the level at which the Bank of England will consider raising interest rates. The figures, which lifted the pound and pushed government bond...

  • ECB briefs heads of top banks ahead of ‘stress tests’

    ECB briefs heads of top banks ahead of ‘stress tests’

    Bosses from top eurozone banks gathered at the European Central Bank yesterday to find out what it will be looking for in its upcoming ‘stress tests’ on their balance sheets. Before the ECB takes up its new role supervising eurozone banks from...

  • German council warns Merkel on generous coalition pledges

    Germany’s council of economic advisers yesterday warned that the introduction of a minimum wage and more generous pensions by a new government could put at risk economic gains achieved through far-reaching reform of the welfare state a decade...

  • Ryanair cuts profit forecast again as fares fall in Europe

    Ryanair cuts profit forecast again as fares fall in Europe

    Ryanair’s annual profit is set to fall for the first time in five years as intense competition in Europe pushes average fares down by around 10 per cent over the winter months, Europe’s largest airline by passenger numbers said. Two months after...

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