Consumer sentiment ended unchanged in March from February, a survey released on Friday showed, while the reading slightly beat expectations. High unemployment and tougher credit standards remain worries hanging over the consumer, according to Thomson Reuters/University of Michigan's Surveys of Consumers. The final March reading for the surveys' overall index on consumer sentiment was 73.6,
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The U.S. economy grew at a slightly less brisk pace in the fourth quarter than previously estimated, while corporate profits slowed sharply from the prior quarter, government data showed on Friday. Analysts said while the report was evidence the economy emerged from recession in the second half of 2009, the underlying growth pace was not
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The Cyprus Stock Exchange (CSE) announced the launch of the Emerging Companies Market (N.E.A) from March 29, 2010. The new Market will be launched with the listing of four companies; Executive S.A., Phone Marketing S.A., Cyprus Limni Resorts & Golfcourses Plc and Constantinou Bros Asset Management Plc.
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The financial aid mechanism for Greece agreed by euro zone leaders on Thursday is workable but unlikely ever to be activated, European Central Bank President Jean-Claude Trichet said. "I am extraordinarily happy that the government of the euro area found a workable solution," Trichet told an unscheduled news conference after a euro zone leaders' meeting.
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The euro inched up from a 10-month low on Friday and Treasury yields slipped after euro zone leaders and the IMF agreed to provide a joint financial safety net for debt-laden Greece. But the Greece plan did not extinguish fears about other fiscally vulnerable economies in Europe such as Portugal and Spain, and most Asian
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EU leaders appeared to be nearing consensus on an aid mechanism for Greece based on strict German terms before a high-stakes summit on Thursday and Athens won a reprieve when the European Central Bank extended looser funding rules. The Greek debt crisis has shaken the credibility of the 16-nation euro zone and leaders are under
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Retailers Kingfisher and Next raised hopes they can lift profits this year by cutting costs and keener purchasing even if Britain's consumers face a tough time as the government moves to cut borrowing. Kingfisher, Europe's biggest home improvements retailer, beat forecasts with a 49% rise in full-year profit and demonstrated its confidence on Thursday by
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France is the most admired country among Greeks, usurping Germany whose popularity has collapsed in the wake of a growing diplomatic spat between the two countries, an opinion poll published on Thursday showed. Many Greeks have been angered by hostile German media coverage of its debt crisis, including suggestions the country cheated its way into
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Global asset managers are still not out of the woods yet, despite improved equity markets, according to Moody's latest report. Noting that the industry's earnings strength is still 25% below peak levels on average, the rating agency states that the credit outlook for the asset managers remains negative because market conditions have not yet normalized
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European Commission President Jose Manuel Barroso made a new call on Wednesday for countries using the euro to create a safety net to help Greece if it needs financial assistance. Barroso told the European Parliament that although the Greek debt situation was not on the formal agenda of a meeting of European Union leaders on
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