Latest stories
Oil Climbs Higher on Ukraine Uncertainty

Oil prices advanced Friday as the market won support from the ongoing Ukraine crisis and upbeat data in the United States, which is the world's top crude consumer.

Brent North Sea crude for July rose 28 cents to trade at $109.37 per barrel approaching midday in London.

W140 Full Story
German Tourism Giant TUI Narrows Loss in Q2

German tourism and travel giant TUI said Friday that it is sticking to its full-year forecasts after narrowing its losses in the second quarter. 

"TUI is on track to deliver its strategic and economic targets," chief executive Fritz Joussen said in a statement.

W140 Full Story
Asia Shares Slip after Wall St Losses, Weak Europe Data

Asian markets were mixed Friday following another sell-off on Wall Street and worse-than-expected eurozone data while Mumbai hit a record high on expectations pro-business candidate Narendra Modi will become India's next prime minister.

Tokyo fell 1.41 percent, or 201.62 points, to finish at 14,096.59 owing to a stronger yen and Sydney eased 0.58 percent, or 31.8 points, to close at 5,479.0 but Seoul edged up 0.16 percent, or 3.24 points, to 2,013.44.

W140 Full Story
Eurozone First Quarter Growth 'Major Disappointment,' Economy Struggling

First-quarter growth in the eurozone was a "major disappointment," falling well short of forecasts and stoking fresh concerns a modest recovery is struggling to make ground, official data showed on Thursday.

Worse still, the Eurostat data agency also revised down the three months to December performance -- from the initially given 0.3 percent to 0.2 percent.

W140 Full Story
German Recovery Gathers Momentum in Q1

The German economy, Europe's biggest, gathered momentum in the first three months of 2014, expanding by 0.8 percent, official data showed on Thursday.

That represented an acceleration from the preceding quarter, when gross domestic product (GDP) had grown by 0.4 percent, the federal statistics office said in a statement. 

W140 Full Story
Still No Agreement on Huge China-Russia Gas Deal

China and Russia still disagree over pricing a multi-billion-dollar gas deal despite years of negotiations, a senior Beijing official said Thursday, ahead of a visit by Vladimir Putin when a contract signature had been expected.

The Russian president will visit the commercial hub of Shanghai on Tuesday and Wednesday for a conference focused on Asian security hosted by Chinese President Xi Jinping.

W140 Full Story
French Economy Flat in First Quarter

France's economy failed to grow in the first quarter of 2014, according to data released on Thursday by the Insee national statistics institute.

The figure was below the meagre 0.1 percent growth that Insee had forecast for eurozone's second-largest economy between January and March.

W140 Full Story
Qatar to 'Ease Restrictions' on Foreigners' Employment Terms, Ends Sponsorship System

Qatar, which will host the 2022 football World Cup, said Wednesday it will abolish its controversial sponsorship system for foreign workers as international criticism mounts over their treatment.

It "will be replaced with a system based on employment contracts," as part of a package of labor reforms, said a statement released at a press conference in Doha.

W140 Full Story
Swiss Market Regulator Says it Probes Credit Suisse

Switzerland's stock exchange regulator said on Wednesday that it had opened a probe into possible rule breaches by banking giant Credit Suisse.

"SIX Exchange Regulation is opening an investigation against Credit Suisse Funds AG on the grounds of possible breaches of regular reporting obligations," it said in a statement.

W140 Full Story
Spain Police Arrest 752 People over Fake Companies

Spanish police said Wednesday they had arrested 752 people in a massive probe into fake businesses created to obtain social security benefits as well as residence or work permits for foreigners.

It was "without a doubt" the biggest police operation yet against such scams, said Spanish police chief Ignacio Cosido, estimating the overall cost to the state of the frauds under investigation at 20.5 million euros ($28 million).

W140 Full Story