Eurozone inflation rose to zero percent and out of negative territory in October, official data showed Friday, a level that is still low enough to encourage the European Central Bank to pump up its stimulus.
Earlier this month, ECB president Mario Draghi signaled that the central bank could be ready to boost its contested bond-buying program given low inflation levels across the 19 countries that share the euro.Full Story
Swiss banking giant Credit Suisse said Friday it has been approached by Swiss and US authorities over banking links with FIFA officials accused of bribery and corruption.
"Credit Suisse has received inquiries from these authorities regarding its banking relationships with certain individuals and entities associated with FIFA," the bank said in a statement, adding that it was cooperating with the authorities on the matter.Full Story
Chinese President Xi Jinping's brother-in-law owned shares in a firm controlled by the country's richest man Wang Jianlin, the businessman confirmed after allegations that political connections helped Wanda Group grow.
The declaration by Wang comes after a sweeping anti-corruption drive under Xi has targeted a swathe of prominent cadres and low-level officials.Full Story
The U.S. Senate passed a bipartisan, two-year budget deal early Friday that boosts federal spending by $80 billion, reduces a government shutdown threat and raises the debt ceiling through the end of Barack Obama's presidency.
The bill passed the House of Representatives on Wednesday and now goes to Obama for the formalities of his signature, although the political fallout looks set to linger on.Full Story
Oil prices declined in Asia Friday as a midweek rally dissipated with no relief in sight to a global crude oversupply, analysts said.
Prices surged on Wednesday driven by bargain-hunting and a below-forecast rise in U.S. commercial crude inventories, but concerns over the supply glut soon resurfaced.Full Story
Japan Airlines said Friday its six-month net profit soared nearly 29 percent, after rival All Nippon Airways also posted upbeat results as the carriers benefit from a surge in tourism and a steep slide in fuel costs.
Visitor arrivals in Japan have surged as a weak yen puts more purchasing power in the hands of foreign tourists.Full Story
Deutsche Bank, Germany's biggest lender, announced Thursday it would cut 9,000 jobs and pull out of 10 countries in a new 3.8-billion-euro cost-cutting drive after it ran up record losses in the third quarter.
Deutsche Bank's new co-chief executive John Cryan told a news conference that the group planned to close onshore operations in Argentina, Chile, Mexico, Peru, Uruguay, Denmark, Finland, Norway, Malta and New Zealand. And it would move trading activities in Brazil to global and regional hubs.Full Story
LG Electronics' mobile business dived into the red for the first time in 18 months during the third quarter, pulling down overall net profit despite a surge in home appliance sales, the company said Thursday.
The South Korean electronics maker said its handset unit, which includes smartphones, posted an operating loss of 77.6 billion won ($67.8 million) in the July-September period.Full Story
German airline Lufthansa said Thursday it was raising its full-year forecasts after low oil prices and positive passenger numbers lifted profits in the third quarter.
"The realignment of the Lufthansa group is now being reflected in good results. There is no question that the low oil price helped us to achieve these," said chief executive Carsten Spohr.Full Story
Norwegian oil giant Statoil on Wednesday again slashed its investment forecast for this year as dropping oil prices and writedowns led to weaker-than-expected third quarter earnings.
The group reported a net loss of 2.8 billion kroner (299 million euros, $329.1 million) during the quarter, which was an improvement on the 4.8-billion-kroner loss it registered in the same period a year ago owing to a vast cost savings program.Full Story