Business
Latest stories
Europe's 'Crisis after the Crisis' Poses Uncertainty in 2014

Is Europe on the verge of a popular uprising? The question was asked by one of Greece's most respected newspapers as another year of painful austerity drew to a close.

If public anger does explode on the streets, wrote Kathimerini, it will not be provoked by politicians or labor unions, but come from ordinary people who "never imagined themselves doing such a thing".

W140 Full Story
Slovenia Averts Bailout but Crisis Far from Over

No bailout of crisis-hit Slovenia will be needed, the country's government and the European Commission said Thursday as results of long-awaited bank stress tests were published.

Slovenian central bank governor Bostjan Jazbec announced Thursday that the small eurozone state will need 4.8 billion euros ($6.6 billion) to recapitalize its troubled banks, citing the results of EU-supervised stress tests.

W140 Full Story
Japan, ASEAN Seek 'Freedom of Overflight' amid China Tensions

Japan and Southeast Asian countries agreed Saturday to strive for freedom of movement in the skies, in the first major gathering of the continent's leaders since China ramped up regional tensions with a controversial air defense zone.

The cautious show of support for Tokyo in its bitter row with Beijing came as Japan pledged $20 billion in aid and grants for the region.

W140 Full Story
Spain's Public Debt Hits New Record in Third Quarter

Spain's public debt, which has risen unchecked for the past five years of economic crisis, hit a new record of 93.4 percent of gross domestic product in the third quarter, the Bank of Spain said Friday.

Spain's center-right government, which last month announced it would ease its austerity reforms over the coming two years since the economy appears to be emerging from recession, has set a year-end debt-to-GDP target of 94.2 percent.

W140 Full Story
China Trims Rare Earth Quota for H1 2014

China on Friday trimmed its export quota for rare earth resources for the first half of next year.

The country produces more than 95 percent of the world's rare earths, 17 elements critical to manufacturing everything from iPads to low-emission cars.

W140 Full Story
World Stocks Tentative Amid Fed Stimulus Cut Fears

World stock markets were tentative Friday as investors prepared for the U.S. Federal Reserve's decision next week on whether to reduce its monetary stimulus.

Asia's heavyweight market benchmark, Tokyo's Nikkei 225, rose 0.4 percent to 15,403.11 and Hong Kong, Taiwan and Sydney also rose. Shanghai and Seoul declined.

W140 Full Story
U.S. Moves ahead on Plan to Allow Phone Use in Planes

U.S. regulators Thursday opened the door to allowing mobile phone use on airplanes -- an issue that has stirred howls of protest over the potential for disruption in the skies.

The Federal Communication Commission's 3-2 vote came after chairman Tom Wheeler said the action would merely publish rules for public comment, and determine the technical feasibility of in-flight phone use.

W140 Full Story
Hollande Vows to Share French Technology with Brazil

French President Francois Hollande, on a state visit to Brazil, on touted his country's readiness Thursday to share its technological know-how with the emerging South American powerhouse.

After holding talks in Brasilia with counterpart Dilma Rousseff, the French leader arrived in the economic capital of Sao Paulo to meet the local French community.

W140 Full Story
Putin Targets Offshores to Help Slumping Economy

President Vladimir Putin on Thursday proposed forcing offshore companies owned by Russians to pay taxes into the national budget as the Kremlin faces up to the potential consequences of the country's economic slump.

In his annual state of the nation address, Putin departed from the usual rhetoric of blaming outside cyclical factors for Russia's slowdown which the government predicts will result in growth of just 1.4 percent this year.

W140 Full Story
Denmark Raises Growth Forecast, Sees Signs of Recovery

The Danish government doubled its growth forecast for this year to 0.4 percent from 0.2 percent on Thursday, saying the economy was showing signs of recovery.

"The Danish economy is showing signs of recovery. It's not happening quickly, but it's moving forward," the Ministry of Economic Affairs said in a statement.

W140 Full Story