||Last Updated: Oct 9, 2015 - 12:32 AM
Nov 28, 2014 - 1:40 PM
Eurozone inflation slowed in November to a five-year low of 0.3% as the European Central Bank is expected to launch a full-scale quantitative-easing QE bond-buying program in early 2015. Meanwhile teh jobless rate in Germany was the lowest in Europe in October.
Nov 28, 2014 - 8:29 AM
Overall, German consumers' mood continued to stabilize in November. The consumer climate is improving as the year draws to a close, according to GfK, the market research firm.
Nov 27, 2014 - 2:54 PM
France's 10-year bond yield has fallen below the 1% the first time in history, as investors expect the European Central Bank will begin buying sovereign bonds early in the new year to spur growth. Meanwhile in Helsinki, Mario Draghi, ECB president, called for an economic union in the euro area as the risk of breakup would persist until the EU was given sweeping powers to control countries’ fiscal policies and reform efforts.
Nov 27, 2014 - 11:18 AM
The number of persons in employment in Germany rose to over 43 million for the first time in October 2014. In October 2014, 43.006 million persons resident in Germany were in employment according to provisional calculations of Destatis, the federal statistics office. Meanwhile the federal Labour Office (BA - Bundesagentur für Arbeit) said there were 2.717 million unemployed people in November, 16,000 less than the previous month and 89,000 fewer than at the same time last year.
Nov 27, 2014 - 8:13 AM
The Leading Economic Index for the Eurozone fell 0.2% to 111.9 (2004=100) in October, following a 0.1% increase in September and a 0.6% decrease in August, according to a report on Wednesday. Meanwhile a senior ECB official said that the central bank will decide early in the new year on whether it will embark on quantitative easing (QE) bond buying, commonly known as money printing.
Nov 26, 2014 - 10:35 AM
The European Commission today announced a €315bn Investment Plan to get Europe growing again and get more people back to work.
Nov 26, 2014 - 7:10 AM
The German Bundesbank warned Tuesday that corporate debt is becoming overpriced as low interest rates and low volatility raise market participants’ risk appetite. It also called for an end to preferential treatment for sovereign exposures with banks required to have adequate capital collateral on the same basis as other securities - the Basel I agreement, which went into effect in 1990, provided additional leverage for countries that wished to expand debt as the new rules for banks lowered to zero banks’ capital requirement on sovereign debt – no matter how risky.
Nov 25, 2014 - 7:57 AM
Lux Leaks: Jean-Claude Juncker, European Commission president, and the rest of the college of commissioners had to attend a session of the European Parliament Monday evening to face a motion of censure backed by British, French and Italian far-right and populist leaders who denounced Juncker's record in facilitating massive corporate tax avoidance when governing Luxembourg for almost two decades.
Nov 24, 2014 - 3:59 PM
Last week Mario Draghi, ECB president, twice publicly cited government bond-buying as a policy tool available and euro bond yields today have fallen to new record lows. The Spanish 10-year government bond yield is below 2% for the first time and the Irish yield is at 1.49%.
Nov 24, 2014 - 10:46 AM
The German business climate index unexpectedly improved In November for the first time since last April, according to data published in Munich Monday. However, the services sub-index fell.
Nov 24, 2014 - 2:46 AM
As Mario Draghi, ECB president, prepares to launch quantitative easing (QE) via buying of government bonds, as he hinted last Friday, a British professor of economics wants the central bank to give each adult citizen in the Eurozone €500 to spend.
Nov 21, 2014 - 9:04 AM
Strong data from the US this week coincided with signs of shaky performances elsewhere.
Nov 20, 2014 - 9:12 AM
The pace of economic growth in the Eurozone slowed to a 16-month low in November, according to the Markit Eurozone PM (purchasing managers' index). The headline index, which measures business activity in the manufacturing and services economies, fell from 52.1 in October to 51.4, its lowest since July of last year.
Nov 19, 2014 - 1:37 AM
In October, in the EU passenger car registrations increased (+6.5%) from a year earlier to 1,072,837 units sold, marking the fourteenth consecutive month of growth In October, according to the European Automobile Manufacturers' Association (ACEA: Association des Constructeurs Europeens d'Áutomobiles).
Nov 18, 2014 - 1:53 PM
The ZEW Indicator of Economic Sentiment for Germany gained 15.1 points in November 2014. Now standing at 11.5 points (long-term average: 24.4 points), the index has returned to positive territory after the previous month's slip into negative territory.
Nov 18, 2014 - 7:36 AM
Belgium has accused HSBC Private Bank, a unit of teh giant global bank which is based in Switzerland, with money laundering by helping wealthy Belgians to avoid taxes.
Nov 14, 2014 - 10:15 AM
GDP (gross national product) rose by 0.2% in the Eurozone (EA18) and by 0.3% in the EU28 during the third quarter of 2014, compared with the previous quarter, according to estimates published Friday by Eurostat, the statistics office of the European Union. In the second quarter of 2014, GDP grew by 0.1% in the Eurozone and by 0.2% in the EU28.
Nov 14, 2014 - 7:33 AM
German GDP (gross national product) grew by only 0.1% in Q3 2014 while France managed to grew 0.3% in the third after a decline in the previous quarter, according to data published in Wiesbaden and Paris this morning.
Nov 14, 2014 - 6:51 AM
The European Commission is expected to confirm today that Starbucks got a special tax deal from the Netherlands, in the latest front in Europe against corporate tax avoidance.
Nov 13, 2014 - 7:36 AM
Juncker on Corporate Tax: Jean-Claude Juncker, in office as European Commission president for just two weeks, admitted on Wednesday that it was a mistake to hide from the press in the aftermath of last week's revelations on the tax haven he had developed in Luxembourg as finance minister and prime minister for almost two decades. The poacher-turned-gamekeeper has now embraced reform and he has proposed new rules for the European Union to prevent member countries exploiting tax arbitrage and facilitating evasion.
Nov 12, 2014 - 11:29 AM
Eurozone industrial production in September recovered slightly from August's slump and weak growth in July according to data published Wednesday by Eurostat.
Nov 12, 2014 - 8:30 AM
Jean-Claude Juncker, the new president of the European Commission, will be in Brisbane, Australia, this weekend for a summit of the leading economies of the world and the former prime minister of Luxembourg (1995-2013) who was the architect of a tax haven that has been termed a "racket' by the vice chancellor of Germany, is expected to commit the EU to a fight against tax fraud.
Nov 11, 2014 - 8:38 AM
Deutsche Bank has cut the German GDP (gross domestic product) growth forecast from 1.5% to 1.3% for 2014 and further from 1.5% to 0.8% for 2015. Meanwhile, 25 years after the fall of the Berlin Wall, the collective GDP of Germany's former communist eastern states has only managed to reach 67% of that in the former federal republic, which was known as West Germany.
Nov 7, 2014 - 8:47 AM
The European Central Bank (ECB) said on Thursday that by the time of the international bailout of Ireland in November 2010, we accounted for 25% of the central bank's emergency lending to banks in euro area countries.
Nov 7, 2014 - 8:39 AM
Luxembourg Leaks: The revelations this week by the International Consortium of Investigative Journalists (ICIJ) of the extent of Luxembourg's facilitation of corporate tax avoidance also exposes the Irish Government's guff on the tax system in recent years. The German vice chancellor said Thursday that the "racket" needs to stop.
Nov 6, 2014 - 4:16 PM
The euro fell to a two-year low Thursday and shares rose after Mario Draghi, ECB president, confirmed that the central bank will spend €1tn to bolster the struggling Eurozone economy.
Nov 6, 2014 - 1:52 PM
At meetings of the policy committees of the European Central Bank and Bank of England today in London and Frankfurt, benchmark interest rates were kept at historic lows.
Nov 6, 2014 - 4:02 AM
Luxembourg has been confirmed as a massive facilitator of tax avoidance following the leaking of a cache of about 28,000 documents that mainly deal with clients of PricewaterhouseCoopers (PwC) - the Big 4 auditing and tax advisory firm.
Nov 5, 2014 - 9:23 AM
The slowdown in the Eurozone service sector continued during October, with rates of expansion in business activity and new orders the weakest since March and January respectively. Adding to the subdued backdrop was a dip in business optimism† to a 16-month low which, combined with the current slowdown, led firms to cut employment for the first time in seven months.
Nov 4, 2014 - 2:01 PM
The European Commission's autumn forecast published Tuesday projects weak economic growth for the rest of this year in both the EU and the Eurozone. Real GDP growth is expected to reach 1.3% in the EU and 0.8% in the Eurozone for 2014 as a whole, down from 1.2% six months ago. Growth is expected to rise slowly in the course of 2015, to 1.5% and 1.1% respectively, on the back of improving foreign and domestic demand. An acceleration of economic activity to 2.0% and 1.7% respectively in 2016 is expected to be driven by the strengthening of the financial sector (following the comprehensive assessment by the European Central Bank and further progress towards the banking union), "as well as recent structural reforms starting to bear fruit."
Nov 4, 2014 - 8:54 AM
German machinery and equipment orders jumped 13% in September compared with the same month last year, the German Engineering Association (VDMA) said Monday. However, a forecast of industrial production issued last Thursday is not optimistic about the outlook in 2015.
Nov 3, 2014 - 9:17 AM
The Eurozone manufacturing sector remained in a state of near-stagnation in October, as weak demand continued to restrict growth of both output and employment across the currency union.
Oct 30, 2014 - 9:56 AM
With the Eurozone facing stagnation, a report issued on Wednesday, suggested that German aversion to inflation may grow as ageing concerns get increasing focus.
Oct 29, 2014 - 3:31 AM
France and Italy on Tuesday after discussions with the European Commission, may be allowed enter the EU's good budget pupils class for 2015. Meanwhile a European commissioner said France's excuses on missing the budget target are "simple bullshit."
Oct 28, 2014 - 8:21 AM
Bank lending to Eurozone households/ companies contracted at a slower pace in September and money supply in the economy expanded at a faster pace, signalling that the end of the tightening of credit conditions is in sight. Separately, central bank data showed that corporate lending decreased on an annual basis in countries like Italy, Spain, Portugal and Ireland, but continued to rise in Germany, Finland, France and Austria.
Oct 28, 2014 - 1:47 AM
German business confidence slumped in October, according to a report Monday. Meanwhile, the German chamber of commerce group cut GDP forecasts for 2014/ 2015.
Oct 26, 2014 - 4:17 PM
The European Central Bank (ECB) today published the results of a thorough year-long examination of the resilience and positions of the 130 largest banks in the euro area as of 31 December 2013. PermanentTSB has a capital shortfall of €854.8m according to the test results.
Oct 23, 2014 - 9:14 AM
The Eurozone saw a marginal upturn in growth of business activity in October, according to the flash PMI results. The headline Markit PMI rose from September's ten-month low of 52.0 to 52.2, signalling the first upturn in the pace of expansion for three months. However, the index remained below the average seen in the third quarter, and was the second-weakest reading seen so far this year.
Oct 22, 2014 - 7:39 AM
The European Commission on Wednesday will formally inform five Eurozone countries, including France and Italy, that their budget plans are at risk of violating EU budget rules, according to three EU officials briefed on the decision.
Oct 17, 2014 - 1:13 AM
European consumers are no longer as optimistic about the future as they were in June according to a survey on behalf of the European Commission covering 40,000 individuals who are polled on a monthly basis in the 28 countries of the EU.