LATEST NEWS : Kuroda Has Draghi in a Bind as Euro Soars Against Yen

Mario Draghi has something new to worry about as he prepares for tomorrow’sEuropean Central Bank policy meeting: the euro-yen exchange rate. The yen approached a six-year low versus the shared European currency after Bank of Japan Governor Haruhiko Kuroda surprised investors late last week by extending his record stimulus program. Kuroda’s actions jeopardize the weaker […]

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LATEST NEWS : EU reaches preliminary deal on Russia economic sanctions

European Union ambassadors reached a preliminary agreement on Friday to push ahead with hard-hitting economic sanctions against Russia over the Ukraine crisis but details remained to be worked out, diplomats said. The 28-nation EU has toughened its stance towards Moscow since last week’s downing of a Malaysian airliner in an area of eastern Ukraine held by Russian-backed […]

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Davos Crowd Uneasy as Long-Term Risks Replace Crisis Response

For the first time in seven years, the business and political elite gathered in Davos, Switzerland last week were able to focus on long-term challenges rather than short-term economic crisis. That didn’t make them less nervous. Delegates at the World Economic Forum’s annual meeting departed anxious about the risk to future prosperity caused by high […]

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IMF Sees Business-Loan Losses of EU250 Billion in EU Banks

“Banks in Spain, Italy and Portugal face about 250 billion euros ($338 billion) in potential losses on their business loans over the next two years, the International Monetary Fund said. About one-fifth of combined corporate loans is at risk of default in the three economies, which are forecast to contract this year, according to the […]

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Draghi Seen Putting Words Before Action on ECB Policy

“Mario Draghi is likely to rely on the power of his voice rather than new policies to steer Europe’s banks through the early stages of an economic recovery. The ECB president will hold off from pumping more cash into the currency bloc’s financial system as long as the threat of action keeps market interest rates […]

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Banca d'Italia says gold reserves key to cenbank independence

“Keeping gold reserves is a key support to central banks’ independence, an official from Banca d’Italia told a bullion industry conference on Monday, dampening talk that it might sell some of its holdings. Speculation has emerged since the financial crisis hit the euro zone that Banca d’Italia might be pressured to leverage or even sell […]

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Berlusconi Turmoil in Italy Poses Threat to Euro-Crisis Lull

“Italian government instability following the tax-fraud conviction of former Prime Minister Silvio Berlusconi threatens to end a lull in the European debt crisis and derail a nascent economic recovery. Berlusconi’s party has rallied around its leader, possibly seeking a presidential pardon and threatening a mass resignation of deputies in parliament, a move that could bring […]

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