Euro Zone

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EU court to rule on UK challenge to transaction tax

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LONDON - Britain may lose its challenge to stop plans by 11 euro zone countries to tax financial transactions when the European Union's top court rules next week, lawyers said on Thursday.

Cash drop in the euro zone adds to impetus for ECB action 24 Apr 2014

LONDON/FRANKFURT - The amount of spare cash in the euro zone banking system fell to its lowest levels in 2-1/2 years on Thursday, pushing up short-term money market rates and adding impetus for the ECB to loosen policy further.

Factbox - ECB policymakers' recent comments 24 Apr 2014

FRANKFURT - The European Central Bank opened the door at its April policy meeting to possible money-printing to boost the euro zone economy and keep inflation from staying too low.

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Spare cash in euro zone falls below 100 billion euro threshold 24 Apr 2014

FRANKFURT - Spare cash in the euro zone banking system has fallen below the threshold of 100 billion euros for the first time since the European Central Bank flooded the system with ultra-cheap crisis loans in late 2011.

Weaker inflation could prompt broad ECB asset-buying - Draghi 24 Apr 2014

AMSTERDAM - The European Central Bank could embark on a broad-based asset buying plan if the euro zone inflation outlook worsens, ECB President Mario Draghi said, adding that a rise in the euro could also trigger policy action.

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U.S., euro zone activity up; China decline slows 23 Apr 2014

NEW YORK/LONDON - The U.S. manufacturing sector expanded in April and the euro zone private sector started the second quarter on its strongest footing since 2011, while the pace of decline in Chinese factory activity slowed, surveys showed on Wednesday.

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Chinese factories stalling as euro zone business picks up 23 Apr 2014

LONDON/BEIJING - Chinese factory activity shrank for the fourth straight month in April but private businesses across the euro zone enjoyed their best month in nearly three years, surveys showed on Wednesday.

Greek primary surplus in 2013 was 0.8 percent of GDP- Commission 23 Apr 2014

BRUSSELS - Greece had a primary surplus of 0.8 percent of GDP last year, the European Commission said on Wednesday, a result that paves the way for some form of debt relief from euro zone governments that are now the main creditors of Athens.

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Euro zone private sector on strong footing but still slashing prices - PMIs 23 Apr 2014

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 23 Apr 2014

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.

France, Germany show EU support for Georgia as Ukraine crisis mounts

TBILISI - France and Germany assured Georgia on Thursday that a deal bringing it closer to the European Union would be sealed within weeks, moving to tighten ties with the ex-Soviet republic as tension mounts between Russia and the West over Ukraine.

Chemring to sell European munitions business for 167.8 million euros

- British defence contractor Chemring Group Plc said it would sell its European munitions business to France's state-owned Nexter Systems SA for up to 167.8 million euros (138 million pounds) to focus on its core defence technology business.

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Union willing to enter negotiations to aid Etihad-Alitalia talks

ROME/MILAN - An Italian union said on Wednesday that it is willing to enter negotiations to help to meet conditions set by Etihad Airways for investing in Alitalia after talks between the airlines stalled over debt and job cuts.

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