Europe

Euro zone, Greece face off as markets take fright

Greece and its euro zone partners engaged in brinkmanship on Monday, with leftist Prime Minister Alexis Tsipras insisting his country would not extend its reform-linked bailout and Germany saying it would get no more money without such a program.


Russians write open letter to Putin over foreign-currency mortgages

Russians with foreign-currency mortgages have written an open letter to President Vladimir Putin seeking help with repayments that have soared because of the ruble's plunge, saying they were misled by banks.

Commodity-dependent currencies hold gains, eyes on Greece

Commodity price-dependent currencies such as the Australian dollar and Norwegian crown were the main movers on major foreign exchange markets on Tuesday, gaining up to a third of a percent on talk of more economic stimulus in China.

G20 plan for investment targets runs into stiff opposition

Group of 20 finance officials look likely to reject a proposal to set countries specific investment targets to spur a global economy which appears increasingly reliant on the United States for growth.


Latest News

If Greece is forced out of the euro zone, other countries will inevitably follow and the currency bloc will collapse, Greek Finance Minister Yanis Varoufakis said on Sunday, in comments which drew a rebuke from Italy.
British bank HSBC Holdings Plc (HSBA.L) admitted on Sunday failings by its Swiss subsidiary, in response to media reports it helped wealthy customers dodge taxes and conceal millions of dollars of assets.
Brent crude prices slipped on Monday as a slump in Chinese imports pointed to lower fuel demand in the world's biggest energy consumer, outweighing falling U.S. oil rig counts and signs of healthy U.S. growth.
Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program, ruling out any extension of its international bailout and setting himself on a collision course with his European partners.
Greece said on Saturday it had no short-term cash problem and that it will hand its European Union partners a comprehensive plan next week for managing the transition to a new debt deal.
China will have more robots operating in its production plants by 2017 than any other country as it cranks up automation of its car and electronics factories, the International Federation of Robotics (IFR) said on Thursday.
Cross-border lending is growing in the euro zone for the first time since the bloc's financial crisis prompted banks to retreat from highly indebted countries such as Spain, Greece, Ireland and Italy.
Technology companies such as Google are unlikely to become mass car manufacturers, even if they have the potential to disrupt an industry increasingly focused on software and automated driving, the head of German carmaker Daimler (DAIGn.DE) said on Friday.
Greece's new leftist-led government, isolated in the euro zone and under pressure from the European Central Bank, said on Friday it wanted no more bailout money with strings attached from the European Union and International Monetary Fund.
A jump in the Swiss franc against the euro, which threatens to push the country's economy into recession, is boosting trade in brothels across the border in Germany.
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