Manufacturing activity in the euro zone declined at its slowest pace in six months and grew in China and India in April, raising hopes that the sharpest slump in six decades may have bottomed out. The latest rays of hope were clouded, however, by a warning on Monday from the European Commission that growth rates
More
The U.S. government will release the findings on bank stress tests this week, and data expected to show another month of crushing job losses will also test emerging optimism on global economic prospects. World stock markets have been surging for two months, a rally predicated on the notion that the pace of U.S. economic contraction
More
The Board of Directors of the Bank of Cyprus will convene on Thursday 28 May 2009 to examine the Bank of Cyprus Group financial results for the quarter ended 31 March 2009 (1st Quarter 2009). On the same day, after the market close, the financial results will be announced to the Stock Exchange and the
More
The body in charge of assigning Internet addresses such as .com and .net should be shorn of its U.S. government links from October and made fully independent, the European Union's information society chief said on Monday. The Internet Corporation for Assigned Names and Numbers (ICANN) is a not-for-profit organization set up in 1998 but operates
More
A radical overhaul of the car industry moved a step closer on Monday as Fiat's CEO prepared to pitch a bid for Opel to Germany's leaders as part of a planned takeover of General Motors' European assets. As debate over the ownership of another Germany-based carmaker, Porsche, intensified, Sergio Marchionne sought government support for an
More
Wall Street was set for a modestly higher open on Monday as investors were hopeful banks will be able to raise any capital they may need as a result of findings in the government stress tests, but jitters over the health of the sector persisted. Shares of Sprint Nextel (S.N) were up 7.1 percent at
More
The European economy is in its deepest recession since World War Two and growth rates will only turn modestly positive in the second half of 2010, the European Commission said on Monday in downwardly revised forecasts. In its latest economic predictions for the 27-nation European Union and the 16-member euro zone, the EU executive arm
More
Oil climbed above $53 a barrel on Monday, extending the previous session's four percent gains, after data out of big fuel consumers China and India stoked expectation economic recovery was gaining traction. U.S. crude futures for June delivery rose 21 cents to $53.43 a barrel by 0915 GMT. London Brent crude rose 38 cents to
More
European shares were higher in early trade on Monday, with banks adding most points to the index amid thin trading, as UK markets are closed for a public holiday. At 0721 GMT, the FTSEurofirst 300 index of top European shares was up 0.5 percent at 834.01 points. The benchmark index rose 2.4 percent last week
More
Bank of America Corp is working on plans to raise more than $10 billion in fresh capital, even as it and Citigroup Inc launch last-ditch attempts to convince the U.S. government they do not need to bolster their balance sheets, the Financial Times reported. Citing people close to the situation, the paper said that Citi,
More