The risk that Britain's economy will slide into recession in the next 12 months has edged up, and this might prompt the central bank to boost its asset purchase programme again to support the economy, a Reuters poll showed on Wednesday. The poll of more than 40 economists, taken Nov. 4-9 found a marked downgrade
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The outlook for developed economies remained dangerous in November despite an emerging split between Europe, ravaged by an intensifying sovereign debt crisis, and a slightly better performance in the United States. Reuters polls of more than 250 economists, taken after G20 leaders left a critical summit in Cannes with no concrete plans to solve the
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Prime Minister Silvio Berlusconi's pledge to resign after implementing economic reforms did nothing on Wednesday to staunch a perilous collapse in market confidence in Italy. Financial markets have been clamouring for weeks for Berlusconi to depart because of his failure to push through painful austerity measures. But after Berlusconi's announcement on Tuesday that he would
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A European Union with 27 members is incapable of agreeing needed reforms and the time has come to think about forming a smaller group of nations to advance the cause before it is too late, former German Foreign Minister Joschka Fischer said. "Let's just forget about the EU with 27 members — unfortunately," Fischer said
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Drugmakers are counting the cost of the deepening euro zone crisis, with further austerity-driven price cuts expected in important European markets, including Italy and France. Growing alarm at multiple government-imposed cuts prompted a frank letter from the CEO of GlaxoSmithKline , who heads Europe's pharmaceuticals association, to the European Commission warning of the industry's "significant
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Cyprus places great importance both on sustaining its current tourist markets as well as on reaching out to new ones, Minister of Commerce, Industry and Tourism, Praxoula Antoniadou has said. Speaking at a dinner hosted by Cyprus Tourism Organisation, in London, where she traveled on the occasion of the “World Travel Market”, Antoniadou said that
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Italian borrowing costs reached breaking point on Wednesday after Prime Minister Silvio Berlusconi's promise to resign failed to raise optimism about the country's ability to deliver on long-promised economic reforms. Italian 10-year bond yields shot above the 7 percent level that is widely deemed unsustainable, reflecting investors' concerns that they may not get their money
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Expecting mothers in South Korea have inundated hospitals with requests for a Caesarean section delivery on Nov. 11 to secure the unique life-long identity number of "111111" for their children, media reported on Wednesday. The Korean Resident Registration Number, an identification number for all residents in Korea, is composed of 13 numbers with the first
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– Coalition negotiations far from over – Parties looking beyond Papademos for new PM – EU Court of Justice head tipped as possible candidate Greek political leaders will announce a new coalition government on Wednesday, a government spokesman said, though there was no indication of a deal on a new prime minister to lead the country
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A plan for former European Central Bank vice-president Lucas Papademos to lead a Greek government of national unity has run into trouble, party sources said on Wednesday, prolonging political hiatus as the country heads towards bankruptcy. With the Greek population and the European Union clamouring for a coalition now, a government source said it would
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