As if the Irish debt crisis weren't enough, investors are worried once again about rising inflation in China. But officials in Beijing are quietly building an impressive record of economic management, and some analysts are convinced they can meet the challenge.
Economic performance among EU nations is getting more divergent. While Germany and France continue to modestly expand, debt-plagued countries like Greece are shrinking. That makes it tough for the European Central Bank to set its monetary policy.
AstraZeneca and Pozen announced Monday that their pain reliever Vimovo for the treatment of arthritis had received positive agreement for approval by the 23 E.U. nations. Vimovo is a combination drug that reduces the risk of ulcers for frequent NSAID users.
The EU and the IMF have issued a glowing report card on Greece's reform efforts, but it's clear the country is hardly out of danger. Among the threats: Falling GDP, rising prices and the possibility of spiraling into ever-deeper budget cuts to offset falling tax revenue.
Portugal, one of the countries at the heart of the European debt crisis, had its bonds downgraded by Moody's Tuesday. The ratings agency warned that the Lisbon government's financial strength will continue to weaken because of heavy debt.
It may be because of the slowing European economy, the drive for austerity by the continent's national governments, or planned tax increases. But whatever the reasons, the European Central Bank said Thursday it would hold its benchmark interest rate steady at 1%.
The tough new restrictions will likely fuel demands for similar curbs in the U.S. But not everyone is convinced that the new rules will have the intended effect of changing bankers' riskiest practices.
Internet giant Google once again finds itself on the radar of the European Union's antitrust agency, which now is looking at allegations that the search engine demotes rivals' sites in search results.
The European Parliament has reportedly moved to reform the system of paying investment bankers, approving new rules that will require between 40% and 60% of bank bonuses to be deferred for at least three years, and giving governments the ability to claw back bonuses on deals that go bad.
The European Union is considering measures that would give regulators emergency powers to "prohibit or restrict" naked credit-default swaps -- insurance on bonds not owned by the CDS purchaser -- in reaction to the region's current debt crisis.
After a spokesman for Hungary's new government said it might default on its debts, investors battered European stocks and Hungary's currency, the forint. And the euro got pushed below $1.20 for the first time in four years.
European proposals aimed at better oversight of the ratings agencies will create a EU-wide watchdog to license and oversee the big three, taking these duties from member nations. But critics say the proposals don't go far enough.
