The European Central Bank cut its main interest rate to a new record low on Thursday, and will buy up bonds for the first time in a bid to stem the euro zone's economic decline and shore up shaky markets.
The European Central Bank cut its main interest rate on Thursday to 1.0 percent, and financial markets are now focused on any alternative policy measures the ECB reveals to get the euro zone economy back on its feet.
The volume of retail trade in March of the European Union’s 27 nation bloc (EU27) fell by 0.3% and the euro area (EA16) down by 0.6%. In February of this year, retail trade fell by 0.8% and 0.3% respectively, according to the European statistics.
Dissident Chrysler lenders were identified on Wednesday in bankruptcy court, while Ford Motor Co said its restructuring remained on track and announced plans to convert an SUV plant to small-car production, pushing its shares higher.
Porsche Automobil Holding SE has abandoned its target of reaching a 75 percent majority holding in Volkswagen AG, sources familiar with the matter told Reuters on Wednesday.
A Texan with H1N1 flu died earlier this week, state officials said, only the second death outside Mexico where the epidemic appeared to be waning.
A U.S. bankruptcy judge has approved bidding procedures for the rapid sale of most of bankrupt vehicle maker Chrysler's assets.
Wal-Mart , the world's top retailer, said on Wednesday it has launched a pilot program to open convenience stores in China, seeking to boost its presence in one of the world's fastest growing retail markets.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
A U.S. bankruptcy judge on Tuesday considered whether Chrysler LLC could move forward with its plans for a quick sale of most of its assets while rival General Motors Corp prepared to resume talks with its union and detailed a plan that could shift majority ownership control to the U.S. government.
FRANKFURT - The senior labor leader of German carmaker Opel (GM.N) warned that Fiat's (FIA.MI) ambitious growth strategy was an all-or-nothing bet, rejecting the Italian rival's takeover concept for the GM Europe brand.
Fiat plans to keep all German Opel plants open should its takeover plans for the General Motors unit succeed but would cut staff there, Fiat Chief Executive Sergio Marchionne told a newspaper.
The European Commission said Monday both the 27-nation EU and the 16 countries that use the euro currency will shrink by 4% this year, more than twice as it had predicted at the start of this year.
China increased its goal for wind power generation capacity by the year 2020 to as much as 100 000 megawatts, from 30 000 megawatts that the Chinese government had set 18 months ago, Chinese newspaper China Daily reported on Monday.
A group of investment funds sought on Monday to block Chrysler's planned alliance with Fiat SpA, while the Italian automaker advanced its bid to overhaul the industry by setting its sights on Germany's Opel.
A radical overhaul of the car industry moved a step closer on Monday as Fiat's chief executive set his sights on General Motors' Opel German unit just four days after clinching a deal with Chrysler.
A radical overhaul of the car industry moved a step closer on Monday as Fiat's CEO prepared to pitch a bid for Opel to Germany's leaders as part of a planned takeover of General Motors' European assets.
The United States has made a formal request to Germany to take in some prisoners held at its military prison in Guantanamo Bay, a spokesman for Interior Minister Wolfgang Schaeuble said on Sunday.
SolarWorld, Germany's third-largest solar company by revenue, confirmed its 2009 sales outlook after first-quarter net profit rose more than a quarter as the company offset falling module prices by cutting costs. Chief Executive Frank Asbeck told Reuters on Monday that the company still expects to post 2009 sales of more than 1 billion euros ($1.33 billion), while full-year profit would depend on how prices develop in the battered industry.
Europe is likely to pump out increasing amounts of bioethanol over the next 10 years, posting gradual annual output rises as an EU-imposed deadline nears for boosting renewable energy, an industry official said on Monday.
A radical overhaul of the car industry moved a step closer on Monday as Fiat's CEO prepared to pitch a bid for Opel to Germany's leaders as part of a planned takeover of General Motors' European assets.
The World Health Organization reported on Monday that 985 cases of influenza A (H1N1) have been reported across twenty countries.
