Euro zone economic recovery stumbled in last year's final quarter as gross domestic product barely expanded, dragged down by a poor German performance despite healthy figures from France, data showed on Friday. The 16-country currency area's GDP edged up 0.1 percent in the October-December period, compared with the previous quarter, and contracted by 2.1 percent
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Next week's European Union finance minister meeting is unlikely to decide an aid package for Greece, but adverse market reactions could trigger a decision at any time, an EU government source told Reuters on Friday. EU leaders at their summit on Thursday aimed to keep pressure high on Greece, as well as on Portugal and
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The number of U.S. workers filing new applications for jobless benefits tumbled last week, a government report showed on Thursday, reversing a recent spike that had raised concerns about renewed labor market weakness. Initial claims for state unemployment benefits dropped by 43,000 to a seasonally adjusted 440,000 for the week ended Feb. 6, down from
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US Stock index futures rose on Thursday with the spotlight on a European summit that could set the blueprint for aid to debt-laden Greece, while investors awaited data on the health of the labor market. Concern over the debt crisis in Greece has dampened confidence, and equity markets have been sensitive to statements and reports
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European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro. "There is an agreement on the Greek situation. We will communicate now the agreement to the other leaders,"
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The euro zone will take coordinated action if necessary to safeguard its financial stability, European Union President Herman Van Rompuy said on Thursday as EU leaders discussed how to help debt-laden Greece. "Euro area member states will take determined and coordinated action if needed to safeguard stability in the euro area as a whole. The
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European shares were higher at midday on Thursday, on track for a fourth day of gains, after European Union President Herman Van Rompuy said a deal had been reached on a rescue package for debt-stricken Greece. At 1204 GMT the pan-European FTSEurofirst 300 index was up 0.6 percent at 993.08 points. The index is down
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Global oil demand will grow by more than previously expected in 2010, increasing the need for OPEC crude, the International Energy Agency (IEA) said on Thursday, with all the growth coming from emerging markets. Demand for oil in industrialised countries has peaked despite many returning to economic growth, the IEA said, describing developed economies as
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The euro inched up on Thursday, supported after European officials signalled they had agreed to help Greece tackle its sovereign debts. EU President Herman Van Rompuy said several key euro zone officials had reached a deal to help Greece as a meeting of the group's 27 leaders, economic advisers and other officials got underway in
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Apple Inc's forthcoming iPad tablet computer will cost as little as $229.35 for the company to produce, according to an estimate on Wednesday from research house iSuppli. The group conducted what it called a "virtual teardown" of the iPad, since the device is not yet available and component suppliers have not been announced. Apple's iPad,
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