Euro Zone

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Euro zone private sector on strong footing but still slashing prices - PMIs

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LONDON - The euro zone's private sector has started the second quarter on its strongest footing in nearly three years, but burgeoning new orders were again mainly buoyed by firms cutting prices, surveys showed on Wednesday.

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Momentum in French business activity recovery wanes in April - PMI 8:51am BST

PARIS - The French private sector expanded at a much slower rate in April, surveys showed on Wednesday, underlining the fragility of the recovery in the euro zone's second-biggest economy.

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Euro zone consumer confidence improves more than expected in April 22 Apr 2014

BRUSSELS - Euro zone consumer confidence rose 0.6 points month-on-month to -8.7 in April, beating market expectations, the European Commission said in its first estimate on Tuesday.

IMF board signs off on latest Portugal review 17 Apr 2014

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? 17 Apr 2014

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 17 Apr 2014

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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Germany's private sector expands faster in April - PMI

BERLIN - Germany's private sector expanded faster in April, recovering from a slight slowdown in growth in March, as both manufacturing and services industry activity rose more than expected, surveys showed on Wednesday.

France treads fine line on EU deficit-cutting targets

PARIS - France's government is to set out its roadmap to deficit reduction on Wednesday using optimistic growth forecasts considered risky by its own fiscal watchdog to show how it will meet European budget standards by the end of next year.

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Intesa, UniCredit in deal with KKR to jointly manage bad loans

MILAN - Italy's top two banks UniCredit and Intesa Sanpaolo have signed a deal with U.S. private equity firm KKR to pool some of their problematic loans, as the country's lenders seek new ways to grapple with soured debts.

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