European union

Eurozone Joblessness Rises to a Record 12%

Unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999, official figures show.

Bank Shutdown Hammers Cyprus' Businesses

Banks across Cyprus remain locked Tuesday after financial authorities extended the country's bank closure, fearing worried depositors will rush to drain their accounts.

Cyprus Deal Could Bring U.S. Market Rally

The last-ditch effort to save the banking system in Cyprus should bring a rally when U.S. stock markets open on Monday, according to several investment managers.

Cyprus Secures Bailout, Avoids Bankruptcy

Cyprus secured a package of rescue loans in last-ditch negotiations early Monday, two EU diplomats said, saving the country from a banking system collapse and bankruptcy.

Market Minute: EU Slaps Microsoft with $733 Million Fine

European regulators have fined Microsoft $733 million for failing to give users of its Windows system a choice of Internet browsers. The company had settled an antitrust dispute four years ago by saying it would offer alternatives to its Internet Explorer, but failed to do so for more than a year.

U.S. Stock Prices Dip Ahead of Earnings Season Kickoff

U.S. stocks fell Tuesday as traders awaited the start of the corporate earnings season. Market-watchers expect the quarter's results could include many surprises because of events like Superstorm Sandy, the presidential election, and the narrowly avoided "fiscal cliff."

Taxing the Rich: Americans Have It Good, Compared to the French

Many of America's rich are complaining that top tax rates are rising in 2013. But, really, they should be glad the new rates will be so low. France is boosting its top tax rate from 48 percent to as high as 75 percent -- and driving some businesspeople and celebrities to bid their home country adieu.

Europe Teeters on the Edge of Recession

Europe is edging closer to recession, dragged down by the crippling debt problems of the 17-country eurozone, official figures showed Tuesday: The economies of both the eurozone and the full EU shrank by 0.2% in the second quarter, after a flat first quarter.

Cheaper Oil Pushes U.S. Trade Deficit to 18 Month Low

The U.S. trade deficit fell to its lowest level in 18 months in June, pushed down by a steep drop in oil imports and a small rise in exports. The trade gap narrowed to $42.9 billion in June, down from $48 billion in May, the Commerce Department said Thursday.