Major companies announced more job cuts and losses on Thursday, adding weight to a downbeat report on U.S. consumers and making clear the global economy is not yet out of the woods. The worst economic figures in half a century from Spain, the euro zone's fourth biggest economy, reinforced expectations the 16-nation euro bloc will
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The number of foreign tourists visiting Britain in the first three months of this year was 13 percent lower than in 2008, and Britons made 19 percent fewer trips abroad, official data showed on Thursday. Foreign residents made 6.28 million visits to Britain between January and March, down from 7.19 million last year, with the
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By Jason Benham and Sinead Cruise European investors have mothballed plans to invest in Dubai's bombed-out property in favour of more familiar and mature markets, prolonging the emirate's maiden bust until at least 2011. Prices in the emirate's once-booming real estate sector will continue to slump over the next year, with demand for property waning
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Poland reaffirmed its support on Thursday for Turkey's bid to join the European Union and said the bloc should not try to attach additional conditions for its membership. Muslim but secular Turkey faces stiff opposition to its EU bid from the leaders of France and Germany, who say the country is too large, too poor
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Sony Corp forecast a second straight year of losses as the global recession batters demand for consumer electronics but the Japanese company stopped short of taking any new aggressive steps to cut costs further. The back-to-back annual losses will be Sony's first since its listing in 1958, underscoring deepening troubles for a company that has
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The number of foreign tourists visiting Britain in the first three months of this year was 13 percent lower than in 2008, and Britons made 19 percent fewer trips abroad, official data showed on Thursday. Foreign residents made 6.28 million visits to Britain between January and March, down from 7.19 million last year, with the
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Wal-Mart Stores Inc (WMT.N) reported a roughly flat quarterly profit on Thursday as its low prices attracted shoppers amid a global economic slowdown, but the retailer's results were limited by a stronger U.S. dollar. The company said profit was $3.02 billion, or 77 cents per share, in the first quarter ended April 30, compared $3.02
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Stock index futures pointed to a lower open on Thursday after consumer bellwether Wal-Mart reported flat quarterly profits and as investors awaited producer price and jobless data for insight into the state of the economy. Wal-Mart Stores Inc (WMT.N), the world's biggest retailer, reported flat earnings that were in line with analysts' estimates. The chief
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European shares were lower at midday on Thursday in a choppy session, with energy stocks dropping on weaker crude prices and the banking sector falling from earlier rises. By 1052 GMT, the pan-European FTSEurofirst 300 index of top shares was down 0.4 percent at 828.49 points, having been up as much as 834.32 points and
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Financial publishing and conference group Euromoney said revenues fell 9 percent in April after a 4 percent rise in the six months to end-March and predicted things would get worse before they got better. The company, whose publications include Euromoney Magazine, said its financial-sector customers were cutting headcount, spending on marketing and information and attendance
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