Athens turned up the heat on its creditors on Tuesday as it sought to secure a bond swap that will cut its mountainous debt, while the main bondholders group warned a disorderly default would cause more than a trillion euros of damage to the euro zone. Greek private creditors have until Thursday night to say
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**Transport down 12.9% in 2011 ** Turnover value in a range of services sectors rose compared with the year earlier in October – December 2011. Both accommodation and food services rose by 4% and professional, scientific and technical activities by 4.9% in the fourth quarter. Turnover in information and communication rose by only 1.2% and
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Inflation stabilised in February, with both the consumer price index (CPI) and EU-harmonised consumer price index (HICP) recording and increase of 3.1% over the year earlier—the same rate they both recorded in January. Inflation peaked in December with the HICP reaching 4.0% and the CPI hitting 3.8%. A slower pace of increase in food and
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Britain's Betfair Group Plc took 50 mln pounds ($79.4 mln) of bets on the marathon Australian Open tennis final between Novak Djokovic and Rafael Nadal, highlighting the growing popularity of in-play gaming on major sporting events. Horse racing was also a driver of growth, with races such as Kauto Star's victory in the King George
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Britain's FTSE 100 extended its losing streak into a third session on Tuesday, as concern about the health of the global economy hit heavyweight oils and miners, pushing the index towards the bottom of its recent range and darkening the technical outlook. After a strong start to the year which saw UK-listed miners add 8.5%,
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Brent crude slipped towards $123 on Tuesday, reversing earlier gains as investors began a sell-off on worries about demand from slowing economies in China and Europe, though losses were capped by risks to supply from Iran. Concerns that the euro zone may be facing its second recession in three years and that demand may be
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Asian shares and other growth-linked assets fell on Tuesday as slowing economies in China and Europe and tension over Iran dampened sentiment, prompting investors to take profits from recent rallies that had been driven by ample liquidity. China's lowering of its growth target and data pointing to Europe possibly slipping back into recession eroded the
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The captain of a Greek tanker was killed when his ship, carrying more than 2,000 tonnes of oil and diesel, sank west of Athens on Monday, coastguard officials said. The other 10 members of the crew were rescued and safe, the officials said. No oil spills have been spotted so far. "The 48-year-old Greek captain
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Greece has recalled its warship from the European Union's anti-piracy task force in the Indian Ocean to save money as it struggles to meet fiscal targets set by international lenders in return for a bailout package. Greece, struggling with its worst economic crisis since World War Two, is cutting 400 million euros from the defence
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The pace of increase of registered unemployment moderated slightly in February, rising by 27.1% over the year earlier to 37,874, compared with a rise of 28.3% in January. The Statistical Service does not produce a registered unemployment rate but Eurostat estimated the unemployment rate at a record 9.3% in January. However, on a seasonally adjusted
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