Latest stories
Dollar Sags as Strong U.S. Jobs Report Masks Flat Wages

The dollar fell against the euro and the yen Friday after an otherwise buoyant U.S. December jobs report showed wages sagging even as the unemployment rate fell to 5.6 percent.

The greenback reversed course from recent gains as the slowdown in wage growth in December to 1.7 percent year-on-year, barely keeping up with inflation, pointed to some frailty in consumer spending power.

W140 Full Story
Kerry Heads to India Seeking Economic Gains

U.S. Secretary of State John Kerry left late Friday for India on his first foreign trip of 2015, with a heavy focus on trade and investment with the South Asian economic giant.

His tour will also take him to Geneva for talks Wednesday with his Iranian counterpart on Iran's nuclear program, before he makes his first visit as the top U.S. diplomat to Bulgaria later in the week.

W140 Full Story
IAG Has Fresh Aer Lingus Bid Rejected

International Airlines Group (IAG), the parent company of British Airways and Iberia, said Friday it had made a fresh attempt to bid for Irish carrier Aer Lingus which was rejected.

It said it submitted a second takeover approach last month, offering 2.40 euros per share, up from 2.30 euros which it offered earlier in the month.

W140 Full Story
Cyprus Scraps Control on Businesses Sending Money Abroad

Cyprus scrapped Friday its last controls on businesses transferring funds abroad, another step toward abolishing draconian measures imposed in 2013 to avoid a run on banks.

The finance ministry issued a decree that transfers above two million euros ($2.4 million) no longer need approval. This comes a month after the ceiling on free transfers was raised to that level.

W140 Full Story
Cyprus Airways Stops Flying After EU Ruling

Cyprus announced Friday an immediate halt to flights by its national carrier, spelling its demise, after EU regulators ordered Nicosia to recover illegal state aid granted to the holiday island's ailing airline.

Cyprus Airways ticket-holders will be offered alternative arrangements, the government of the small recession-hit EU member state said.

W140 Full Story
U.S. Jobless Rate Falls to 5.6% in Best Year Since 1999

The U.S. unemployment rate fell to 5.6 percent in December, the lowest level in six and a half years, as the country capped its best year for job creation since 1999.

In a fresh sign that the United States is creating more distance with the weakness in Europe and elsewhere, the Commerce Department said Friday that the economy churned out 252,000 jobs last month.

W140 Full Story
Oil Prices Fall Before U.S. Data

Oil prices fell Friday with analysts predicting further pressure on the market owing to a glut of global supplies and weak demand.

Markets were awaiting a U.S. jobs report due Friday, with forecasts for another sharp rise in new positions giving the Federal Reserve more ammunition to lift interest rates.

W140 Full Story
German Carmakers Clock up Record Sales in 2014

German automakers BMW, Daimler and Volkwagen said Friday their leading brands attained record sales in 2014, driven by rising demand in all regions.

Top-of-the-range maker BMW said in a statement it delivered more than two million vehicles to customers last year, "the company's fourth record year in a row."

W140 Full Story
Euro Edges Up from Nine-Year Low against Dollar

The euro recovered some losses against the dollar in Asia Friday after slipping below $1.800 for the first time in more than nine years, while traders await the release of U.S. jobs figures later in the day.

In Tokyo, the single currency rose to $1.1808 from $1.1754 in New York. The last time it was below $1.800 was December 2005. It weakened to 140.89 yen Friday from 141.15 yen in U.S. trade.

W140 Full Story
Swiss Central Bank Eyes Record Profit for 2014

Switzerland's central bank on Friday said it expected record profits of 38 billion Swiss francs (31.6 billion euros) in 2014 on the back of gains from its foreign currency holding.

The bank said it would make a profit of 34 billion Swiss francs ($33 billion) from its foreign currency holdings and four billion Swiss francs from its gold holdings, according to provisional estimates.

W140 Full Story