Business
Latest stories
Weak World Markets Signal Fresh Global Crisis

American financier George Soros warned Thursday that weaker world markets, triggered by a slowdown in China, were showing signs of a financial crisis reminiscent of the 2008 crash. 

Speaking at an investment forum in Sri Lanka, the magnate and philanthropist said China's flagging economy and subsequent devaluation of its currency were undermining global financial stability.

W140 Full Story
Eurozone Unemployment Falls to Lowest since 2011

Eurozone unemployment dropped to its lowest level in four years in November, official data showed on Thursday, beating analyst expectations despite lingering doubts about the strength of the economy in Europe.

The European Union's Eurostat agency said unemployment in the 19-country single currency bloc fell to 10.5 percent in November from a revised 10.6 percent in October, reaching the lowest level since October 2011.

W140 Full Story
Oil Extends Losses, Nears $33 a Barrel

Oil prices plunged close to $33 a barrel on Thursday as crude extended losses on rising U.S. energy stockpiles and China's weakening currency.

At 0615 GMT, U.S. benchmark West Texas Intermediate (WTI) for February delivery was down 88 cents, or 2.59 percent, at $33.09, the lowest since touching $32.40 in December 2008 during the global financial crisis.

W140 Full Story
U.S. Auto Sales Score New High in 2015

U.S. auto sales touched a new high in 2015 as easy credit, hot new vehicles and strong consumer confidence pushed sales slightly above the record set in 2000, industry data showed Tuesday. 

Some 17.47 million vehicles were sold in the United States last year, nearly 70,000 more than the record set 15 years earlier, according to Autodata. 

W140 Full Story
Brent Oil Slumps under $35 for First Time since 2004

Brent oil prices tumbled Wednesday below $35 for the first time in 11.5 years, plagued by abundant oversupply and the ongoing row between key producers Iran and Saudi Arabia dimming prospects for production cuts.

The market also tanked on expectations that the U.S. government will later report that rising stockpiles added to the global supply glut last week.

W140 Full Story
German New Car Sales up 8.0% in December, 6.0% in whole Year

New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, rose sharply in December, marking a strong year as a whole for the industry, data showed on Wednesday.

A total of 247,300 new cars were registered last month, an increase of eight percent compared with the figure for the same month in 2014, according to data compiled by the automakers' federation VDA.

W140 Full Story
Tokyo Stocks Fall for Third Day as Yen Surges on N. Korea Test

Tokyo stocks closed lower for a third straight session Wednesday, as exporters were hit by a strong yen after North Korea said it had carried out a nuclear test, compounding worries about China's economy and Middle East tensions.

The benchmark Nikkei 225 index at the Tokyo Stock Exchange tumbled 0.99 percent, or 182.68 points, to 18,191.32, while the Topix index of all first-section shares ended down 1.05 percent, or 15.87 points, at 1,488.84.

W140 Full Story
Italy Opens Bidding for Polluting Steel Giant Ilva

Italy has launched a tender to find a buyer for the Ilva steel works, one of the most polluting industrial sites in Europe, giving national and international shoppers a month to make their offers.

The government's call for bidders was published in several Italian and foreign dailies on Tuesday, notably in the United States and Britain. Would-be buyers have from January 10 to February 10 to submit offers, individually or in an alliance.

W140 Full Story
Eurozone Inflation Unchanged at 0.2 Percent in December

Eurozone inflation remained unchanged at a lower than expected 0.2 percent in December, official data said on Tuesday, adding pressure on the European Central Bank to ramp up its efforts to boost the economy in Europe.

The data from the EU's Eurostat statistics agency came in below analysts' forecast of 0.3 percent inflation for the period, which is itself much lower than the ECB's official two percent target.

W140 Full Story
N. Korea Foreign Minister Ri to Attend WEF in Davos

North Korea will send a delegation to the World Economic Forum for the first time in 18 years, with Foreign Minister Ri Su-Yong scheduled to attend this month's meet in Davos, an official said Tuesday.  

"He's coming," North Korea's permanent representative to the United Nations in Geneva, So Se-Pyong, told Agence France Presse when asked to confirm reports circulating in South Korean media about Ri's trip. 

W140 Full Story