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US companies brace for imminent Grexit

Mon, 03/09/2012 - 16:27 by Dinesh Dhiman

Efforts by Greece to avoid defaults on its payments notwithstanding, US companies have already started preparing contingency plans to brace for imminent Grexit, the likely scenario of Greece exiting the Euro.

Profits of Renault show a downslide with plummeting sale figures

Fri, 27/07/2012 - 16:43 by Minnie Mahendru

The famous French Car manufacturer Renault has testified that there has been a intense waning in the collection of profits this year. The sales have plummeted in Europe leading to a loss in revenue, which is a total opposite to the full-bodied rise of its upcoming markets business and its collaboration with Nissan from Japan. Even besides the sweepingly slow trade figures, Renault still holds fort that it is anticipating its worldwide vehicle sales to go up in 2012. The net profit in the first half of the year has shown a 39% drop in earnings.

Asia-Pacific region home to 3.3 million millionaires

Thu, 23/06/2011 - 15:07 by Jamie Anderson

There are more millionaires in Asia than there are in Europe, reveals the latest annual Merrill Lynch-Capgemini World Wealth Report.

Social Network Sites fail to safeguard Minors: EU Report

Wed, 22/06/2011 - 20:40 by Rahul K. Chaudhary

The chinks in Internet’s privacy armour have long been mounting worries for authorities around the globe. A latest EU study cements the cause of apprehension when it comes to privacy of teenagers using social networking sites.

Smoking responsible for earlier male deaths in Europe

Tue, 18/01/2011 - 21:59 by Jaspreet Virk

Ever thought why women have been outliving men across the Europe? Well, it is not just that men have not been seeking health care more readily, the main reason is their practice of smoking which is responsible for the gender gap in death rates in the continent, a new research states.

First partial solar eclipse of 2011 visible on Tuesday

Tue, 04/01/2011 - 16:24 by Neka Sehgal

If good weather prevails and the skies are clear, millions of people in Europe, Africa, the Middle East and Asia will get to see the first partial solar eclipse of the New Year today, Jan. 4, 2011.

Netflix Gearing Up for International Expansion

Thu, 30/12/2010 - 10:52 by Rick Aristotle ...

Making the most of the truly global nature of the World Wide Web, Netflix (Nasdaq: NFLX) is gearing up for international expansion. Adweek is reporting that Netflix is in talks with advertisers and media agencies to map out overseas marketing strategies.

ECB says European banks still vulnerable

Fri, 10/12/2010 - 06:48 by Prince damin

Frankfurt, Germany -- The European Central Bank said Thursday banks in Europe remain vulnerable due to sovereign debt issues, but they are healthier than six months ago.

In a biannual report on Europe's banks, the ECB said, "The overall economic and financial situation is still fraught with risks for financial stability.

"The main source of concern stems from the interplay between sovereign debt problems and vulnerabilities in segments of the euro area banking sector," the central bank said.

Economic growth, however, "is expected to further strengthen its (the banking sector's) resilience and profitability in the period ahead," the ECB said.

Crude oil prices steady Wednesday

Thu, 09/12/2010 - 09:54 by Prince damin

New York -- Crude oil prices held steady on the New York Mercantile Exchange overnight with equities mixed in Asia and Europe and the dollar index up 0.25 percent.

Traders are waiting for an afternoon report on U.S. energy stockpiles and keeping an eye on weather reports that presume a seasonal increase in a demand for heating oil.

January delivery light, sweet crude oil in New York added 2 cents overnight to $88.71 per barrel. Heating oil prices rose 0.38 cents to $2.474 per gallon. Reformulated gasoline blendstock prices lost 0.2 cents to $2.321 per gallon.

Henry Hub natural gas prices added 15.9 cents to $4.552 per million British thermal units.

Banks fail to pass on business loan funds

Thu, 09/12/2010 - 07:35 by Prince damin

Brussels -- Billions of dollars in funding intended to help small businesses in Europe were held up by banks, a watchdog group said Wednesday.

European Union finance ministers approved the $20 billion aid for small businesses as credit began to dry up in 2008, the EUobserver reported.
But a watchdog group, Bankwatch, based in the Czech Republic, said the European Investment Bank has only handed out 74 percent of the funds to commercial banks and that only 69 percent of what was disbursed was distributed through small business loans.

Commercial banks, the figures indicate, held onto half of the $20 billion funds that targeted small businesses.

Report shows recovery split in Europe

Thu, 02/12/2010 - 06:42 by Prince damin

London -- The Markit indexes of manufacturing activity in Europe showed France and Germany pulling away from the rest of the pack in the 16-nation eurozone.

The headline Purchasing Managers Index for the eurozone rose to 55.3 in November, up from 54.6 in October.

Numbers above 50 indicate growth, while below 50 indicates contraction.
Overall, the eurozone's PMI reached a four-month high showing growth for 14 consecutive months.

With gains in new orders and output, the PMI reached a three month high in Germany and a 10-year high in France.

The PMI also rose in the Netherlands and Ireland, but fell in Italy, Austria and Spain, where the PMI dropped to a break-even 50, Markit reported Wednesday.

Executive Optimism: Eurocentric Stocks Seeing Insider Buying

Wed, 01/12/2010 - 12:40 by Eben Esterhuizen

 Ireland's economic collapse stirred up a maelstrom of speculation as to Europe's fate, fueled by worry over sovereign debt contagion. But while fears have yet to dissipate entirely, overall confidence across the pond is actually elevated -- according to an index of executive and consumer sentiment surveying the 16 euro nations, hopes haven't been this high since 2007.