The Bank of England's Monetary Policy Committee Thursday decided to keep key interest rate at record low of 0.5 percent and hold quantitative easing program at 275 billion sterling, despite worries that the economy is losing steam.
The number of Americans claiming for unemployment benefits tumbled to 381 thousand last week from 404 thousand the week before, said the Department of Labor on Thursday. Economists expected the reading to decline to 397 thousand.
The European Central Bank cut its benchmark rate by 0.25 percent to 1 percent and offered banks unlimited cash for three years but rejected rumors it will buy bonds in unlimited quantities if euro zone leaders agree on tighter fiscal union.
Japanese stocks rose on Wednesday amid hopes European top officials will step up efforts to combat the debt crisis at a summit in Brussels. The Nikkei 225 rose 1.71%, or 147.01 points, to 8,722.17, while the broader Topix gained 1.57%, or 11.62, to 749.63.
Swiss stocks declined slightly on Wednesday, snapping eight-day stretch of gains, amid worries European leaders will not reach an agreement on changes to the EU treaty.
U.K. manufacturing output fell more than expected in October amid deteriorating debt crisis in the region. Factory output decreased 0.7 percent in October from September, said the Office for National Statistics on Wednesday.
Citigroup Inc. Chief Executive Officer Vikram Pandit will cut approximately 4,500 jobs in forthcoming quarters as the bank seeks to reduce costs amid tougher market conditions and declining profits.
French President Nicolas Sarkozy and German Chancellor Angela Merkel submitted EU treaty change proposals to European Council President Herman Van Rompuy on Wednesday ahead of crucial summit in an attempt to strengthen the euro zone.
Japanese stocks tumbled on Tuesday after S&P put credit rating of 15 euro zone member countries under review for potential downgrade. The Nikkei 225 declined 1.39%, or 120.82 points, to 8,575.16, while the broader Topix decreased 1.42%, or 10.60, to 738.01.
Swiss stock gained on Tuesday for the eight consecutive day after Germany and France confirmed their intentions to introduce changes to the EU treaty.
U.K. house prices fell 0.9 percent in November after advancing 1.2 percent in October, said Tuesday Halifax Bank of Scotland that is now part of Lloyds Banking Group.
U.S. Treasury Secretary Timothy Geithner arrived in Germany on Tuesday to urge euro zone officials to take decisive action to combat debt crisis in the region. This is one of the several trips Geithner has made in recent month as U.S. worries over the crisis in Europe grow.
Standard & Poor's placed ratings of 15 euro zone countries on watch with negative outlook on Monday, hinting that nations' ratings depend on the outcome of a summit of European Union leaders on December 9.
Japanese stocks closed higher on Monday after Italy voted for 30 billion-euro austerity plan on Sunday. The Nikkei 225 rose 0.60%, or 52.23 points, to 8,695.98, while the broader Topix gained 0.60%, or 4.47, to 748.61.
Swiss stock rose on Monday extending last week's rally after France and Germany announced plans to change EU treaty and Italy approved a three-year austerity plan on Sunday.
U. K. service sector expanded in November at faster pace, compared to October. The Markit/Cips services purchasing managers' index (PMI) advanced to 52.1 from 51.3 in October, said the Markit research agency on Monday. Reading above 50.0 indicates industry expansion.
U. S. service sector expanded in November at the slowest pace in almost two years. The Institute for Supply Management's non-manufacturing index slid to 52 from 52.9 in October, said the company on Monday. Reading above 50.0 indicates industry expansion.
German Chancellor Angela Merkel and French President Nicolas Sarkozy said Monday they are planning changes to the European Union treaty to ensure tighter fiscal policy among member countries and win back investor confidence.
Japanese stocks gained on Friday after better-than-expected manufacturing data from U.S. The Nikkei 225 rose 0.54%, or 46.37 points, to 8,643.75, while the broader Topix advanced 0.56%, or 4.13, to 744.14.
Swiss stock gained on Friday, after U.S. Bureau of Labor Statistics' report showed the unemployment rate in the world's largest economy declined to 8.6 percent in November.
U.K. construction sector contracted modestly in November, according to the data published by the Markit agency on Friday. The construction purchasing managers' index slid to 52.3 in November from 53.9 in October. A reading above 50 signals industry expansion.
The unemployment rate declined to 8.6 percent in November from 9 percent in October, said the Bureau of Labor Statistics on Friday. Economists expected the reading to remain at 9 percent.
German Chancellor Angela Merkel said in a speech to parliament Friday that European sovereign debt crisis cannot be solved in one step and once again rejected joint euro bonds idea, urging instead a tighter fiscal union.
Japanese stocks rose on Thursday after six central banks agreed to lower rate on U.S. dollar liquidity swap arrangements by 50 basis points. The Nikkei 225 rose 1.93%, or 162.77 points, to 8,597.38, while the broader Topix gained 1.59%, or 11.55, to 740.01.