Greek government is planning to allow foreclosures in the country after five years of ban on them to meet creditors' demands. In 2008 the government forbade banks to take away mortgaged houses from those who could not pay for their debts. Nowadays, at least 29% of Greeks cannot pay for their mortgages and this number is rising every year since
The second largest U.K. political party by number of representatives in the Parliament, Labour, announced on Tuesday at its annual conference that it would freeze the corporation tax cut for the biggest companies to support small businesses. The party expects the increase in budget revenues by 340 million pounds from this measure in the first year after general election that
The International Monetary Fund is planning try to do everything that is needed to support women in getting well-paid and highly qualified job. The IMF will very likely make countries publish data about women participation in labor force. Nowadays, only 50% of women in the world have a job, while in the U.S. 60% of women are paid less than
The European Central Bank is ready to support European banks with more money and can refinance current loans, if the banking system needs it. Mario Draghi, the ECB president, said that it is important to maintain short-term money markets' stability and control inflation. The current excess liquidity in Eurozone's banks approaches 200 billion euro, while this amount is the ECB
Telefonica SA, a Spanish telecommunications provider, confirmed its stake increase in Italian company Telecom Italia SpA. The Spanish company will pay 441 million euros for the deal, or 1.09 euro per share, despite the fact that the Telecom Italia SpA shares are now trading only at 0.59 euros in Milan. After the announcement, Telefonica SA equities are losing 1.6% to
The Australian and New Zealand's currency dropped versus most of its major counterparts on Tuesday as investor's appetite for riskier assets decreased after global stock markets fell. The Australian dollar slipped for the third straight session versus the US Dollar following an increase to the highest level in three months last week, the so-called Kiwi headed for the largest fall
一项最新调查显示，阿根廷消费者购买苹果公司(Apple Inc.) iPad的价格全球最贵，是最便宜的马来西亚的两倍多。目前16GB存储容量、retina显示屏、Wi-Fi版本iPad在阿根廷的售价是1094.11美元，在马来西亚只卖473.77美元。按照价格由低到高排列，前五位依次是马来西亚、加拿大、美国、香港和日本。
European shares were little changed on Tuesday after they dropped two days in row before a report showed that the consumer confidence in the US fell from 81.5 points recorded in August to 80 in September and as investors awaited an outcome of Fed's officials' speech. The Stoxx Europe 600 Index was traded at 312.61 at 8:10 a.m. London time
U.K. opposition Labour party plans to increase the bank levy to make free health care for children more affordable for working families. Currently the bank tax rate is 0.105%, raising 2.5 billion pounds a year, but Labour is going to collect 800 million pounds more. The opposition party has already announced a 27.9 billion more budget spending during the first
Larry Ellison, the CEO of Oracle Corp., decided to refuse his annual bonus for the fiscal year 2013, as the company missed profit estimates. Thus, he will get the $78.4 million annual salary, a decrease of 18% from the previous year. Currently he is ranked eighth richest man is the U.S., as his fortune is estimated at $41.8 billion. Oracle
Angela Merkel won the Sunday-held Bundestag election with 41% of votes and will most probably remain the Chancellor for four more years. Despite that, the Southern Europe did not expect such a result, as they blame Merkel for spending cuts, unemployment and debt crisis. Now they hope for a Merkel coalition with Social Democrats that can change the current crisis
Soybeans dropped for a third day on speculation dry weather conditions in the U.S. Midwest in upcoming days will improve maturing crop and harvest. December delivery corn declined 0.4% to $4.4925 per bushel, while December delivery wheat added 0.2% to $6.475 per bushel. November delivery milling wheat trading on NYSE Liffe Paris lost 0.1% to 185.75 euros per ton.
Experts point out that the U.S. economy is integrating to the global tendencies much faster than it was earlier. Economists say that the new Fed chairman will have to think more globally, determining its monetary policy, as those decisions will indirectly influence the entire world. Moreover, problems outside the country will also have more negative impact on the health of
Stanley Fischer, former governor of the Bank of Israel, expects the Fed to taper some amount of stimulus before the current Fed Chairman Ben Bernanke finishes his term in January of the next year. Meanwhile, he pointed out that the central bank should not cut support by a large amount of money. Last week the Fed decided not to begin
One of the biggest oil and gas producers, French Total SA, announced and confirmed its plan to raise worldwide oil production to 2.6 million barrels per day by 2015 and to 3 million barrels per day by 2017. Moreover, the company is going to start new extraction projects in Kazakhstan, Brazil, Mexico and Iraq. On Monday, Total SA shares in
The Pound advanced after a free-day drop against the Dollar before reports to show increase in economic recovery speed, while house prices and consumer confidence gained. The Sterling added at least 1% against all of its 16 most-traded peers in the last six months. The British currency soared 0.3% to $1.6047 as of 9:06 a.m. in London while climbing 0.3%
The greenback weakened for a second day versus the Japanese Yen before the Fed speeches. The Yen soared versus each of its 16 most-traded peers and gained most in a week versus the common currency. The Dollar dropped 0.4% to 98.98 Yen as of 9:56 a.m. in London after giving away 0.1% on September 20. The Dollar was stable at
China's Manufacturing Index soared to six-month peak in September, indicating that economic recovery in world's second largest economy is gathering speed. The preliminary result of 51.2 for PMI released today, exceeding the estimated 50.9 median. The Shanghai Composite Index added 1.3%, while the MSCI Asia Pacific Index of equities rose 0.3% as of 5:26 p.m. Tokyo time.
European stocks were stable, following a three-week rise, as investors considered the German election outcome. The Stoxx Europe 600 Index added almost 0.2% to 314.39 as of 9:12 a.m. London time, while S&P's 500 Index futures gained 0.2%, following a 0.7% loss on September 20. The MSCI Asia Pacific excluding Japan Index declined almost 0.1% as Japanese holiday kept its
Apple Inc. today starts its new iPhone 5C and 5S sales and lots of people were ready to buy new devices in the early morning. Analysts expect that this weekend's sales may grow to a record, as Apple started shipping its products to China on first day, along with U.K., U.S., Germany, Hong Kong, Singapore and France. Apple Inc. stocks
Gold prices turned to a strong up-trend, as the Federal Reserve announced that it will not taper stimulus in September. Immediately after the Fed's decision gold futures jumped 4.1%. The current spot price is $1357.90 per ounce. Meanwhile, this year is going to be the first in 13 years, when gold prices can drop on the annual basis. Since April
British government has increased its tax income by 1.4% in August, while the country's spending declined 2.2%, making the deficit to slash to 13.2 billion from 14.4 billion in August, 2012. British economy recovers faster than the Eurozone's one, therefore Britain is likely to meet its fiscal targets in 2013. Moreover, the economic recovery pushed up the rating of ruling
Pier Paolo Baretta, Italy's Finance Ministry Undersecretary said on Friday that his country must do everything to meet EU budget requirements this year, leaving budget deficit under 3% of GDP. In April the government forecasted the deficit to reach 2.9% in 2013. Meanwhile, the government will need to cut spending or raise taxes by additional 1.5 billion euros to meet
Politics experts predict that the current German finance minister Wolfgang Schaeuble is very likely to remain at his office, even if Angela will not preserve its coalition with Free Democrats, whose ratings point on their failure in the elections. Schaeuble played one of the key roles, solving the Eurozone's problems during the crisis and Merkel's opponents may agree to leave