Business  October 25, 2014
Italians challenge Renzi job reforms with vast Rome rally
Protestors arrive in San Giovanni square in central Rome on October 25, 2014Protesters from across Italy descended on Rome Saturday for a vast rally against Prime Minister Matteo Renzi's plans to overhaul the job market, in a sign of growing resistance to an ambitious reform drive.Hundreds of thousands of Italians snaked through the capital calling for Renzi to do more to boost employment and protect the rights of new entr...  Full Story
Gulf states risk deficit as oil price falls: IMF head
Kuwaiti Finance Minister Anas al-Saleh (left) cuts a ribbon next to Christine Lagarde during a ceremony to inaugurate the Middle East Center for Economics and Finance on October 25, 2014 in Kuwait CityOil-dependent Gulf states will face budget shortfalls if the recent decline in oil prices persists, International Monetary Fund chief Christine Lagarde warned Saturday.A sustained decline of $25 a barrel in the oil price would reduce the revenues of most Gulf countries by eight percent of gross domestic product, "and put many of them into a fiscal ...  Full Story
Kuwait urges Gulf reforms as oil prices fall
Kuwait has a production capacity of over 3.2 million bpd and pumps most of its exports from the Al-Ahmadi refinery, just north of Al-ShuaibaKuwait's oil minister on Saturday called for economic reforms by energy-dependent Gulf states to cope with a drop in oil prices that has hurt their public finances.Anas al-Saleh urged steps to tackle rising public spending, mainly on wages and subsidies, as well as efforts to boost the role of the private sector."Comprehensive economic reforms, inc...  Full Story
UN climate talks shuffle to a close in Bonn
Concern is high at a perceived lack of urgency as UN climate negotiations shuffle towards a close in Bonn on Saturday with just 14 months left to finalise a new, global pactConcern was high at a perceived lack of urgency as UN climate negotiations shuffled towards a close in Bonn on Saturday with just 14 months left to finalise a new, global pact.The six-day meeting of senior officials in the former West German capital was meant to lay the groundwork for the annual round of ministerial-level UN talks in Lima in Decemb...  Full Story
25 eurozone banks 'fail ECB stress test'
Some 25 eurozone banks have failed a health check by the European Central Bank, reports claimSome 25 eurozone banks have failed a health check by the European Central Bank, reports claimed Saturday, citing leaked documents.Nearly one in five of the 130 banks surveyed failed the stress test, the Wall Street Journal and the Daily Telegraph said, ahead of the publication of the official results by the ECB on Sunday.The unprecedented health ch...  Full Story
Renault chief sees Europe auto market slowing in 2015
French President Francois Hollande is shown the inside of a newly presented Renault Espace by CEO of Nissan-Renault Carlos Ghosn (R) during an official visit to the Paris Motor Show on October 03, 2014French carmaker Renault chairman, Carlos Ghosn, said Saturday that he expects slower growth in Europe's auto market next year as it continues to recover from the global economic crisis.Ghosn, who is also Renault's chief executive officer, said the European market was growing at six percent so far this year -- the best since the 2007 crisis."I'm exp...  Full Story
IMF fights negative interest rates
The International Monetary Fund headquarters is seen June 5, 2011 in Washington, DCThe International Monetary Fund on Friday announced a minimum interest rate on its unique SDR currency as it fights off the impact of sagging interest rates and deflation from major economies.The IMF said that from Monday it would maintain a floor rate of 0.05 percent, or five basis points, on its special drawing rights or SDR currency, which repre...  Full Story
Dollar dips in cautious trade ahead of Fed meeting
One hundred dollar notes lay in stacks at the Bureau of Engraving and Printing on May 20, 2013 in Washington, DCThe dollar weakened against other major currencies Friday in cautious trade ahead of next week's Federal Reserve monetary policy meeting, expected to mark an end to its massive asset-purchase program.The market already has largely priced in the Fed's exit from its easy-money quantitative easing program, said David Song of DailyFX.The US central ban...  Full Story
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