Google Inc posted a 23 percent jump in quarterly revenue on a rebound in Web advertising, but its stock fell 5 percent as the company disappointed some investors accustomed to blowout results. Investors were also caught off guard by the company's announcement that Chief Executive Eric Schmidt would no longer take part in quarterly earnings
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Global shares edged off 16-month highs on Friday as an unexpected jump in U.S. jobless claims and persistent uncertainty over a solution to Greece's debt crisis tempered optimism over the global economic recovery. The euro remained pressured and Greek bond yields rose after Athens said it was preparing to activate an IMF/EU financial aid package.
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U.S. housing starts rose more than expected in March to their highest level since November 2008 and permits to build new homes scaled a 17- month high, according to a government report on Friday that offered hope the housing market recovery remained on course. The Commerce Department said housing starts rose 1.6 percent to a
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US Stock index futures pointed to a lower open on Wall Street on Friday, with equities poised to reverse recent strong gains after Google's (GOOG.O) results, and ahead of General Electric (GE.N) and Bank of America (BAC.N) earnings. At 4 a.m. EDT, futures for the S&P 500 were down 0.36 percent, Dow Jones futures were
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European finance ministers discussed Greece's debt difficulties on Friday but said Athens was for now seeking to remove any obstacles to the rollout of emergency aid if needed, rather than requesting it officially. As they did so, Greek Prime Minister George Papandreou told parliament his government was imposing a painful austerity plan to prevent the
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Global shares softened from 16-month highs on Friday after an unexpected jump in U.S. jobless claims tempered optimism over the global economic recovery. Greece lurched closer toward asking for international aid, knocking the euro lower against the dollar and pushing Greek bond yields higher. Data showing growth in the U.S. manufacturing sector was offset by
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Greece asked on Thursday for official talks with European authorities and the International Monetary Fund, a step toward Athens obtaining billions of euros in emergency loans. In a letter to the European Union, the European Central Bank and the IMF, Finance Minister George Papaconstantinou proposed discussions on "a multi-year programme of economic policies." He said
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The euro fell on Friday on scepticism about Greece servicing its debt, while the yen surged as caution about a possible revaluation by China led yen sellers to close short positions ahead of the weekend. The Australian dollar was hardest hit by the yen position closing, while sterling also dropped after a TV debate among
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A volcanic eruption in Iceland, which has thrown up a 6 km high cloud of ash and disrupted air traffic in northern Europe, has grown more intense, an expert said on Thursday. British Airways said in an announcement that “due to the weather conditions, a plume of volcanic ash has now spread southwards towards northern
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The Board of Directors of the Bank of Cyprus Public Company Ltd approved the appointment of Yiannis Pechlivanidis as First Deputy Group CEO with primary responsibility the Group’s operations in Greece and the Balkans. At the same time, Pechlivanidis was appointed as a member of the Board of Directors of the Bank. Pechlivanidis was
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