europe

Stocks Close Higher as Hope Rises for a Fiscal Cliff Deal

Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff." Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading.

Stock Markets Bounce Back as Hopes Rise for a Fiscal Cliff Deal

Hopes that President Barack Obama and U.S. lawmakers will be able to avoid a budget crisis helped world stock markets recover from earlier losses on Wednesday. European stock indexes, which were trading lower all day, closed higher, and the Dow and S&P rose.

Fiscal Cliff Impasse Pushes World Stock Markets Lower

Fear that congressional Republicans and President Obama will fail to steer the United States away from the fiscal cliff before a January deadline sent world stock markets lower on Wednesday. Britain's FTSE, Germany's DAX, Japan's Nikkei and France's CAC-40 all fell, and on Wall Street, both the Dow and the S&P 500 opened lower.

Markets Nervous as Eurozone Finance Ministers Meet on Greece

Concerns that European finance ministers will again fail to reach an agreement on handing over more bailout cash to Greece weighed on markets Monday. In addition, an election in Spain's Catalonia region that saw separatists gain ground is also adding to global investor worries.

Major Banks Cutting 160,000 Jobs Worldwide -- With More to Come

Major banks have announced some 160,000 job cuts worldwide since early last year, more layoffs are coming as the industry restructures. The numbers are much higher in Europe than in Asia or the United States -- and those loses will be a particularly heavy blow to Britain.

Stock Upgrades: 3M Is in the Money, Money, Money

Ah, that innocent age when our biggest beef with Europe centered on freedom fries. This election week, no one was asking "where's the beef?" with Wendy's, with the coiner of that iconic phrase bucking a brutal tape to gain 3.05%.

GM Profits Beat Estimates as Favorable Signs Appear

General Motors on Wednesday reported a third-quarter profit that exceeded analyst expectations by a wide margin. GM's profit was less than it turned in a year ago, with earnings hurt by ongoing losses in Europe. But elsewhere, its business is showing strong signs for the future.

Northeast Air Travel Still Stalled, Thousands of Flights Cancelled

Hurricane Sandy grounded more than 18,000 flights, and it will be days before travel gets back to normal. Authorities closed the three big New York airports, and the ripple effects from the shutdown of the nation's busiest airspace are dramatically affecting travelers in cities far and wide.

Apple Loses Touchscreen Patent Suit Against Samsung -- Again

A Dutch court has again ruled against Apple in a suit against South Korea's Samsung Electronics, saying that Galaxy tablets don't infringe an Apple patent on touchscreen interfaces. The Dutch case is one of many Apple is pursuing against Samsung in their reciprocal patent war.

Oil Prices Slide Due to Global Gloom Over Economic Outlook

The price of oil slipped below $92 a barrel on Monday as closely watched surveys showed the global economy remains weak. By early afternoon in Europe, benchmark oil for November delivery was down 47 cents to $91.72 a barrel in electronic trading on the New York Mercantile Exchange.

Don't Fear a Moody's Downgrade - Fear a China Slowdown

Credit rating agency Moody's is threatening to downgrade U.S. debt if Washington doesn't get its act together soon -- which could (perhaps) increase the government's borrowing costs. That would be troublesome, but the really scary U.S. debt problem is China's economic slowdown.

Eurozone Jobless Rate Stuck at Record High 11.3% in July

The combination of harsh austerity and high uncertainty kept unemployment across the 17-country eurozone at a record high 11.3 percent in July. The data, reported by Eurostat Friday, underscores the huge task the continent's leaders face to restore confidence in its economy.

Automakers Look to Rev Up Sales Growth in Russia

Luxury cars to pamper your inner oligarch caught the eye as the Moscow motor show opened on Wednesday, but it is the Russian of more modest means who has the attention of the world's carmakers, keen to profit from one of Europe's few growing markets.

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.

Why Your Credit Card Needs an International Upgrade: The EMV Chip

When you're traveling abroad, the last thing you might be worried about is whether your credit card will speak the native language, but because U.S. cards lack a certain key bit of technology, many times, they won't. But in some cases, that will soon be changing.

How Ford Can Export Its Turnaround Magic to Europe

The second quarter brought good news and bad news for auto icon Ford. The good? Ford's U.S. sales and profits continued to be strong. The bad: Overall profits were down 57% because of the challenges it faces overseas.

Spanish Government Unveils Nearly $80 Billion Austerity Plan

A day after winning EU approval for a huge bank bailout, Spain's government imposed further austerity on the country Wednesday as it unveiled sales tax hikes and spending cuts aimed at shaving $79.85 billion off the state budget over the next two and a half years.

Oil Hovers Around 8-Month Lows Near $80

Oil prices hovered around 8-month lows near $80 a barrel Thursday after the U.S. central bank balked at implementing vigorous stimulus measures to boost waning economic growth and U.S. crude stockpiles rose unexpectedly.

From Supersized to Super-Sighs: Is McDonald's Growth Era Over?

McDonald's is showing signs of weakness. Goldman Sachs downgraded it shares due to a slowdown in growth. And with challenges overseas and resurgent competition everywhere, things are unlikely to turn around anytime soon for the world's largest restaurant chain.McDonald's is showing signs of tarnish on the Golden Arches. Goldman Sachs downgraded its shares due to a slowdown in growth. And with challenges overseas and resurgent competition everywhere, things are unlikely to turn around anytime soon for the world's largest restaurant chain.

80 Is the New 65: How High Should We Boost Retirement Age?

Imagine what life would be like if we tacked 15 years onto the official retirement age -- it's not a particularly far-fetched scenario. AIG CEO Robert Benmosche has warned that Europe may have to do just that, and the U.S. will soon face a similar crisis.

U.S. Trade Deficit Narrows to $50.1 Billion in April

The U.S. trade deficit shrunk in April, but only because a big drop in imports offset the first decline in U.S. exports in five months. Exports, which had hit a record the previous month, fell 0.8%, but imports, which also set a record in March, dropped an even faster 1.7%.