Euro Zone

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IMF board signs off on latest Portugal review

WASHINGTON - The International Monetary Fund signed off on its latest review of Portugal's bailout on Thursday, and also extended the program until June to finish assessing the euro zone country's progress with getting its economy back on track.

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Did Europe misdiagnose debt crisis and make it worse? 5:09pm BST

BRUSSELS - At the height of the euro zone debt crisis, with Portugal's economy nearing collapse, the European Commission told the government in Lisbon that it had to slash wages if it was ever going to boost competitiveness and grow again.

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Insight - ECB hardliner Weidmann comes in from the cold as deflation threatens 12:24pm BST

FRANKFURT - As recently as last November, Jens Weidmann steadfastly opposed any move by the European Central Bank to print money to buy assets and buoy the euro zone economy. No longer.

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Low inflation to linger for years in euro zone - Reuters poll 16 Apr 2014

- The euro zone is set for at least two more years of low inflation, held down by a strong currency and anaemic economic and jobs growth, and still faces a very real threat of deflation, a Reuters poll showed on Wednesday.

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France seen missing 2015 European deficit deadline - Reuters poll 16 Apr 2014

PARIS - France's public-sector deficit will overrun EU limits yet again next year, breaching a deadline that was already extended by two years and setting the stage for a clash between Paris and its European partners, a Reuters poll found.

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Euro zone inflation sticks in 'danger zone', keeps ECB under pressure 16 Apr 2014

BRUSSELS - A drop in March euro zone inflation to its lowest level since November 2009 was confirmed on Wednesday, keeping pressure on the European Central Bank to intervene if prices do not rebound.

Raiffeisen Upper Austria confident of passing euro zone banks' stress test 16 Apr 2014

VIENNA - Raiffeisen Landesbank Oberoesterreich AG (RLB OOe) is confident it will pass a stress test for big euro zone banks this year after boosting its capital solvency ratios in 2013 and scaling back its balance sheet to cut risk, its chief executive said.

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Europe's banks prepare for ECB tests with new provisions 15 Apr 2014

LONDON - The tens of billions of euros euro zone banks set aside for loan losses in their latest annual accounts may have substantially reduced the chance of institutions failing ECB stress tests in the next few months.

ECB's Bonnici - euro a bit higher than ideal for export boost 14 Apr 2014

FRANKFURT - The euro's exchange rate "is still at a higher level than would be desirable" for net exports to support economic growth in the euro zone, European Central Bank policymaker Josef Bonnici told Market News International.

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Euro zone's February output suggests gradual recovery strengthening 14 Apr 2014

BRUSSELS - Output at the euro zone's factories rose broadly in line with expectations in February, driven by production of intermediate and non-durable goods, suggesting the bloc's recovery is gradually strengthening, EU data showed on Monday.

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RWE's net profit to stabilise at lower level, CEO says

ESSEN, Germany - Germany's RWE said it expected profits to stabilise beyond 2014, albeit at a lower level, as it targets customer-friendly products in an attempt to offset a decline in traditional power generation.

Diageo, Remy Cointreau crimped by Chinese sobriety

LONDON/PARIS - Britain's Diageo and France's Remy Cointreau reported steep sales declines in China on Thursday, failing to revive a taste for their luxury spirits more than a year after an anti-corruption campaign first hit conspicuous consumption.

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Exclusive: 'Leopard King' Cavalli nears 450 million euro sale to Permira - sources

LONDON - Italian designer Roberto Cavalli is in advanced talks to sell a majority stake in his eponymous fashion house to London-based buyout firm Permira in a sale worth about 450 million euros (369 million pounds), four sources close to the deal told Reuters.

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