Cameron looks to shield Britain from euro break-up
LONDON (Reuters) - Prime Minister David Cameron will promise on Thursday to do whatever is needed to protect Britain's economy and banks from a break-up of the euro zone, and will urge leaders of the single currency bloc to "sort out its problems". Cameron's remarks, in a speech to business leaders in northwest England, are likely to irritate European leaders trying to keep the euro zone intact as Greece prepares for a new election and struggles to cope with its debt crisis. ...
Lower oil prices ease load on consumers and Obama
A threat that's been hanging over the economy is starting to look a lot less menacing.
Housing starts, industrial output rise
WASHINGTON (Reuters) - Groundbreaking for homes rebounded in April and factory activity gained steam, suggesting the economy remains on a steady, if unspectacular recovery course. The Commerce Department said on Wednesday housing starts increased 2.6 percent to a seasonally adjusted annual rate of 717,000 units, while the Federal Reserve said production at the nation's mines, factories and utilities rose 1.1 percent. The jump in industrial output, which was the largest since December 2010, was driven by a 4.5 percent increase in utility output, a 1.6 percent gain in mining and a 0. ...
New Obama ad paints Romney as economic ‘vampire’
Mitt Romney, a job-killing economic "vampire"? That's the message of a new ad by President Barack Obama's re-election campaign, which aims to turn the presumptive Republican nominee's business record into a liability as voters worry about the struggling economy. A two-minute version of the new video will run in Iowa, Ohio, Pennsylvania, Colorado and Virginia. [...]
Despite Germany, euro zone sinks towards recession
BRUSSELS (Reuters) - Strong production in Germany could not make up for a slump across the rest of the euro zone in March with declining output at factories falling and signaling an oncoming recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 percent in March from February, the EU's statistics office Eurostat said on Monday. Economists polled by Reuters had expected a 0.4 percent increase overall. The figures stood in contrast with German data showing output in the euro zone's largest economy up 1. ...
Italy minister promises to speed up justice system
ROME (Reuters) - Her family name means "little severe one", and Paola Severino means to live up to it in her crusade against judicial inefficiency which is helping to stifle Italy's chronically weak economy. Seemingly endless legal delays such as in settling commercial disputes are estimated to cost up to one percentage point in Italian GDP growth - not that the economy is growing at all now - and the justice minister wants to tell hesitant investors that she is serious about solving the problem. ...
Output falling, Euro zone heads for recession
BRUSSELS (Reuters) - Output at factories in the euro zone unexpectedly fell in March, the latest in a series of disappointing numbers signaling that the bloc's recession may not be as mild as policymakers hope. Industrial production in the 17 countries sharing the euro fell 0.3 percent in March from February, the EU's statistics office Eurostat said on Monday. Economists polled by Reuters had expected a 0.4 percent increase in the month. The figures stood in contrast with German data last week showing output in the euro zone's largest economy up 2. ...
Global shares fall as deepening Greek turmoil weighs
TOKYO (Reuters) - Asian shares fell on Monday after weekend talks to form a new Greek government failed and China's latest move to loosen monetary policy highlighted concerns its economy is faltering, prompting investors to further trim their exposure to risk. MSCI's broadest index of Asia-Pacific shares outside Japan fell as much as 0.6 percent to its lowest in nearly four months, after shedding more than 1 percent on Friday for its biggest weekly loss since late November. Japan's Nikkei share average gave up early gains to stand nearly flat at midday. ...
Austerity blow for Merkel in German state election
DUESSELDORF, Germany (Reuters) - Chancellor Angela Merkel's conservatives suffered a crushing defeat on Sunday in an election in Germany's most populous state, a result which could embolden the left opposition to step up attacks on her European austerity policies. The election in North Rhine-Westphalia (NRW), a western German state with a bigger population than the Netherlands and an economy the size of Turkey, was held 18 months before a national vote in which Merkel will be fighting for a third term. ...
Merkel faces rout in state vote over austerity
BERLIN (Reuters) - Angela Merkel's conservatives face defeat in a vote in Germany's most populous state on Sunday that could give the left momentum before next year's federal election and fuel criticism of the chancellor's European austerity drive. North Rhine-Westphalia (NRW), an industrial state in western Germany with an economy and population roughly the size of the Netherlands, has a history of influencing national politics. ...
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