Business in EuropeEuropean Economy Business Blog |
AP - Dexia, the world's biggest lender to local authorities, reported Friday it swung to a loss of 1.5 billion euros ($1.88 billion) in the third quarter as the financial crisis took its toll on investments, and announced it would sell some of its U.S. businesses.
Reuters - Recession has hit much of Europe, data showed on Friday, confirming a widespread economic downturn that world leaders hope to tackle at a weekend summit in Washington.
AFP - The economy of the 15 nations sharing the euro has slumped into recession for the first time ever, EU data released Friday revealed, with GDP falling 0.2 percent in the second and third quarters.
AP - Asian and European markets gained in the wake of Wall Street's overnight surge as investors bought up beaten-down shares and world leaders gathered in Washington to discuss ways to tackle the global financial crisis.
AP - Royal Bank of Scotland will cut around 3,000 jobs worldwide over the next several weeks to reduce costs amid the global financial crisis, according to British media reports.