Eurozone finance ministers and the International Monetary Fund have agreed to release €44 billion in critical loans to debt-laden Greece, as well as providing the country with additional debt relief in order to help the country stabilize its ailing economy.
The U.K. is likely to implement austerity measures for 8 years if the recent deterioration in growth prospects as well as tax receipts turns out to be permanent.
Bank of Japan's two new members Takehiro Sato and Takahide Kiuchi proposed a stronger commitment to monetary easing in order to spur the struggling economy.
The total number of people employed in Switzerland rose more than expected in the third quarter, a positive sign for the nation's economy.
U.S. retail sales are likely to gain 13% in in Thanksgiving weekend sales, as consumers over the country, especially younger people, added shopping to their Thanksgiving Day plans, while online traffic soared throughout the weekend.
Confidence among German consumers fell slightly going into December amid concerns over the Eurozone crisis and global growth.
Japanese carmakers, such as Toyota Motor and Honda Motor, see a recovery in sales in China, as anti-Japan tensions eased and companies see possibilities how to get a bigger market share in the world's second biggest economy's market.
Swiss national currency is likely to depreciate in case the sovereign debt crisis in the Eurozone will be closer to solution, the Swiss National Bank said on Friday.
The number mortgage approved by the British Banker's Association rose more than initially expected in the previous month, giving a positive sign for the British economy.
Retail sales in the world's biggest economy may be boosted in the last months of this year, as around 147 million people will stand in queues at the shopping frenzy known as Black Friday.
Despite the Eurozone recession, German business morale rose unexpectedly in November, after six straight month of decline, signaling the Europe's largest economy may gain momentum.
The number of orders at British factories improved slightly this month, pushed by the stronger demand for exports, however, still remains in the negative territory. According to the Confederation of British Industry, its index of factory orders, which describes the balance of the number of manufacturers, who reported a decrease in order books and those who record an increase, inched
The total number of people on welfare in the world's third biggest economy rose more than expected in August, a negative sign for the struggling nation's economy. The welfare ministry said that there were 6,342 more people on welfare, reaching a record high of 2.13 million people. At the same time, the number of households with one or more recipients
The Swiss National Bank will continue enforcing the cap it imposed on the nation's currency to stave off the recession and avoid the risk of deflation, the SNB Chairman Thomas Jordan said Thursday. However, the Swiss currency still remains highly valued, and represents a burden for the economy. The bank was defending its 1.2 cap, by selling francs against the
The U.S. stock markets were closed on Thursday due to the Thanksgiving Day holiday, while Friday's session is going to be abbreviated. Millions of people lined the streets of New York on Thursday in order to watch the 86th Thanksgiving Day Parade.
Private-sector activity across the 17-nation eurozone shrank in November, reaching the lowest level since July 2009, adding to concerns that the region's economy is on course for its deepest downturn in more than 3 years. According to the survey, made by Markit, eurozone Purchasing Managers' Output Index fell to 45.7 this month, down from 45.8 in the preceding month. The
Japan posted its fourth straight monthly trade deficit due to a dramatic fall in exports adding to signs that the world's third biggest economy is heading towards the recession. The Ministry of Finance said that nation's trade gap widened to 549 billion yen in October, while the deficit came much bigger than the ¥360 billion shortfall expected by the economists.
Swiss stocks closed higher on Wednesday, boosted by the better-than-expected U.S. labour data, which offset the failure of the Eurozone leaders to agree on conditions for further aid for Greece. While the world's biggest economy is expected to expand modestly during the next few months, the data from Conference Board showed, European leaders are adding to concerns that the region's
The British government borrowed much more than initially expected in October, adding to concerns that the country will not manage to meet its short-run deficit reduction goals and causing new challenges to the finance Minister George Osborne. Public sector net borrowing excluding the effects of banking bailout soared to £8.6 billion last month, up from £5.9 billion in the same
The number of people who applied for U.S. jobless benefits tumbled in line with analysts' expectations in the week ended November 17, as damage to the labour market caused by superstorm Sandy began to subside, the U.S. Department of Labor said Wednesday. Initial applications for unemployment benefits declined 41,000 to 410,000, down from 451,000 in the preceding week. The four-week
Eurozone finance ministers failed to approve the next 33 billion euros of bailout funds needed by Greece to avoid bankruptcy. After almost 12 hours of discussions, the Eurogroup said they are heading into their second confrontation this week. Greece's reforms and fiscal consolidation were thrown off the course by two subsequent parliamentary elections and a deep depression, even despite the
Switzerland posted a bigger-than-expected trade surplus in October, helped by the resilient demand for goods produced in domestic economy despite the global economic slowdown. According to the Federal Statistical Office, nation's trade surplus widened to 2.82 billion francs in October compared to a surplus of 1.93 billion in the prior month. However, exports from the country fell 7.7% in October
The Bank of Japan decided to keep its benchmark interest rate unchanged and held off from expanding its asset-purchase programme, switching the focus to a December's meeting, where more stimulus measures are expected to be announced to shore up a shrinking economy. The BoJ left its asset fund at 66 trillion yen, credit-lending facility at 25 trillion yen, while the
Mortgage lending in the U.K. reached an 11-month high last month, adding to signs that the property market is finally picking up, the Council of Mortgage lenders reported Tuesday. Overall mortgage lending rocketed 4% to £12.9 billion, after a sharp fall in September. In August, the British Treasury and the BoE have launched the £80bn funding for lending scheme in