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G8 leaders to focus on Europe's woes
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Leaders of the world's most powerful nations were to focus their attention on Europe's economic woes Saturday after President Barack Obama threw his weight behind French calls for more pro-growth policies.
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12/31/1969 06:59 PM
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Obama presses ailing Europe to focus on growth
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CAMP DAVID, Maryland (Reuters) - A growing chorus of world leaders on Friday pushed for a shift toward more pro-growth policies to help ease a European crisis that threatens to oust Greece from the euro zone and reverberate throughout the global economy. Setting the tone for a weekend G8 summit, President Barack Obama aligned himself with the new French president's drive for more economic stimulus in recession-plagued Europe, in a swipe at the tough austerity programs that have been spearheaded by German Chancellor Angela Merkel. ...
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12/31/1969 06:59 PM
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Repsol: Exploratory oil well off Cuba comes up dry
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An exploratory oil well off the northern coast of Cuba has proved a failure and will be capped and abandoned, Spanish company Repsol said Friday, a disappointment for a cash-strapped nation hoping for an economic lifeline.
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12/31/1969 06:59 PM
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At ''bridge to nowhere,'' Romney slams Obama on economy
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HILLSBOROUGH, New Hampshire (Reuters) - Republican presidential candidate Mitt Romney returned to his economic message on Friday, highlighting a "bridge to nowhere" rebuilt by stimulus money and warning the U.S. economy could suffer a fiscal crisis like California's if he is not elected in November. Rising in the polls this week, Romney is eager to follow through by hammering at the White House's handling of the weak economy. ...
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12/31/1969 06:59 PM
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Wall St Week Ahead: The market is oversold, but major signs say "sell"
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NEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist. ...
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12/31/1969 06:59 PM
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Spain may have to revise its 2011 budget deficit
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Concern grew for the stability of Spain's place in the fragile eurozone economy after reports of a rise in the level of bad loans on the books of its banks and word from the government Friday that it may have to revise its 2011 budget deficit upwards for a second time.
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12/31/1969 06:59 PM
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Crude down, hits biggest 3-wk loss since Aug '11
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NEW YORK (Reuters) - Crude oil futures fell more than 1 percent on Friday, down for the sixth straight session, as worsening problems in Greece and Spain raised worries of contagion in the euro zone. Oil futures fell on the drumbeat from global stock markets, which erased the year's gains as investors pared holdings for safe-haven assets such as gold, on growing concerns about the euro zone debt crisis. On Wall Street, equities dipped after a messy opening-day trade for social networking darling Facebook failed to lift the spirits of investors. U.S. ...
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12/31/1969 06:59 PM
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Obama presses ailing Europe to focus on growth
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WASHINGTON (Reuters) - President Barack Obama pressed Europe on Friday to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide. Setting the tone for a weekend G8 summit, Obama made clear he was aligning himself with the new French president's drive for more economic stimulus in the recession-plagued euro zone instead of emphasizing belt-tightening programs spearheaded by Germany. ...
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12/31/1969 06:59 PM
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Greek politics, Spain banks test eurozone survival
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Chaos in Greek politics and Spanish banking combined this week to underscore just how fragile Europe's economy remains after an eviscerating austerity regime that has spawned unemployment, desperation and misery. And there is no respite in sight, as Germany's finance minister predicted Friday that the crisis could last up to another two years.
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12/31/1969 06:59 PM
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Eurozone crisis drives stocks lower despite Facebook frenzy
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World stock markets fell again in nervous trade on Friday and the euro hit a new four-month low against the dollar as ratings agencies further downgraded Greek and Spanish banks.
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12/31/1969 06:59 PM
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