The U.S. trade deficit widened unexpectedly in December to $40.2 billion, fueled by the highest oil prices and oil imports since October 2008, the Commerce Department said on Wednesday. Wall Street analysts surveyed before the report had expected the trade deficit to narrow to $36 billion from $36.4 billion in November. The 10.4 percent jump

Oil rose above $74 a barrel on Wednesday, bouncing from earlier losses, as the euro extended gains against the dollar on hopes for a bailout for Greece. U.S. crude futures <CLc1> rose 46 cents to $74.21 a barrel by 1123 GMT, having fallen to as low as $73.18 earlier. ICE Brent crude futures <LCOc1> were

The Bank of England may have to pump more money into Britain's fragile economy, Governor Mervyn King said on Wednesday after the central bank forecast inflation would stand well below target in two years. Presenting the BoE's quarterly Inflation Report, King said economic recovery from the worst recession since World War Two would be slow

 Iran remains seized with the Cyprus problem as it is important for all Cypriots and has important affects on the region, Iran's Ambassador in Nicosia Ali Reza Bigdeli has said during an official reception to mark the 31st anniversary since the Islamic Revolution in Iran. Bigdeli welcomed developments in the issue after the election of

Marfin Popular Bank announced that the Board of Directors at its meeting of 9/2/2010 was re-constituted in accordance with new regulatory framework of the Central Bank of Cyprus by appointing Andreas Vgenopoulos as Non Executive Chairman of the Board and Messrs Neoclis Lysandrou and Vasilios Theocharakis as Non Executive Vice-Chairmen of the Board. The Board

British inflation would stand well below the two percent target in two years' time if interest rates rose as fast as markets predict, a Bank of England forecast showed on Wednesday. In its February Inflation Report, the central bank saw consumer price inflation at around 1.2 percent at the start of 2012, assuming market interest

British manufacturing output rose more than expected in December after strong gains in the transport, paper and publishing and electrical and optical equipment sectors, official data showed on Wednesday. The Office for National Statistics said manufacturing grew by 0.9 percent in December from an upwardly revised 0.2 percent in November, three times faster than economists

Oil fell towards $73 a barrel on Wednesday, dented by worries about weak demand in the world's top two consumers after figures showed a large build in U.S. crude inventories and a fall in China's imports. U.S. crude futures <CLc1> fell 37 cents to $73.38 a barrel by 0925 GMT. On Tuesday, crude futures rose