Currency Exchange Sunderland

Economy News Headlines - Yahoo! News
Get the latest economy news headlines from Yahoo! News. Find breaking economy news, including analysis and opinion on top economy stories, photos and more.


Germany beefs up monitoring of nuclear shutdown
23 May 2012 at 7:37am

The German government has moved to oversee more closely the country's move from nuclear power to renewable energy ? a mammoth 10-year project for Europe's biggest economy.

China's Cabinet promised Wednesday to step up efforts to reverse a steep slowdown in the world's second-largest economy and said it would encourage private investment in energy and other state-dominated industries.

Lack of competitiveness is the main threat to Brazil's economic growth, experts say, after the finance minister announced a downward revision of the South American giant's growth forecast.

LONDON (Reuters) - Oil fell on Wednesday on growing hopes of a deal between Iran and the United Nations nuclear watchdog, which eased fears of oil supply disruption, while concerns over the debt crisis in the euro zone and a slowing Chinese economy weighed on demand. World powers began talks with Iran on Wednesday to test its readiness under pressure of sanctions to scale back its nuclear program, seeking to ease a decade-old standoff. The U.N. ...

Syria's oil minister acknowledged the heavy toll international sanctions have taken on the country's oil sector, saying Wednesday that they had sucked about $4 billion from the economy.

BERLIN (Reuters) - The impact of a Greek exit from the euro zone would be substantial but "manageable", Germany's Bundesbank said on Wednesday, raising pressure on Athens to keep its painful economic reforms on track. In a toughly worded monthly report, the German central bank also said euro zone member states should have a say on further payments of aid to Greece under its 130 billion euro bailout program funded by the IMF and the European Union. ...

ATHENS (Reuters) - Greece's current account deficit narrowed by close to a fifth in March, data showed on Wednesday, reflecting a sharp drop in imports as the country's austerity-hit consumers tighten their belts. The deficit dropped 17.3 percent to 2.13 billion euros ($2.69 billion) compared with March 2011, the Bank of Greece said. The country's high current account gap, which eased to 9.8 percent of gross domestic product last year from 10.5 percent in 2010, reflects eroded economic competitiveness, partly the result of years of wage increases above productivity. "The pace of narrowing ... ...

LONDON (Reuters) - Retail sales fell at their fastest monthly pace in more than two years in April, after a record drop in fuel sales and a weather-related drop in clothing sales, official data showed on Wednesday. The weak start into the second quarter highlights the ongoing weakness of the economy and may raise speculation about another cash boost from the Bank of England. The Office for National Statistics said retail sales volumes fell 2.3 percent on the month - its biggest drop since January 2010 and more than twice as fast as forecast. ...