ECONOMY & MARKETS

PMI: Downward Revisions To April Euro Zone Manufacturing, Services

Fiat is closing its headquarters for eight days this summer to save money.
Output for the eurozone manufacturing and services sectors shrank in April more than initially reported, according to Purchasing Managers Index (PMI) data released Friday by Markit, the London firm that publishes a monthly independent surveys that gauges economic activity worldwide. Business conditions deteriorated at a faster rate towards the end of the month, said Chris Williamson, chief economist at Markit, explaining the downward revision from preliminary estimates released April 23....
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The Paris headquarters of the BNP Paribas bank is seen near a Paris Metro sign

BNP Paribas Q1 Profit Rises 9.6%

French bank BNP Paribas SA (BNP.FR) reported Friday 9.6 percent rise in profits in the first quarter from a year ago, boosted by the sale of more than half of its stake in real estate firm Klepierre.
ECB President Mario Draghi leaves the European Council headquarters after a night of negotiations at a European Union summit in Brussels

ECB Emerges As Less Dovish, More 'Bossy,' Than Thought

The European Central Bank made a show of that organization's immense political and economic force Thursday, rattling world markets with news it had not even considered lowering benchmark euro lending rates and, more provocatively, having its top banker lecture European politicians on the eve of what are expected to be decisive election in two European countries.
China's Bright Food in Foreign Foray

China's Bright Food To Buy 60% Stake In Weetabix

Bright Food Group Co., the second-largest food company in China, said Thursday it would buy a 60 percent stake in British cereal maker Weetabix Ltd. as it seeks to expand in foreign markets.
A sign is seen outside the JPMorgan office in Los Angeles

European, US Officials Struggle To Tighten Banking Rules

European Union finance ministers failed Thursday to hammer out new global banking regulations, highlighting the resistance regulators on both sides of the Atlantic face as they push for tougher banking rules to ensure banks won't spark another great recession, as they did in 2008.
Asean+3, South Korean Finance Minister Bahk Jae-wan

Asian Nations Double Financial Safety Net To $240B

Asia is doubling the size of its foreign currency reserve safety net to $240 billion, finance ministers and central bank officials announced Thursday following a 13-nation meeting in Manila. The reserve funds a multilateral currency swap agreement aimed at protecting Asian markets from global economic crises.
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US 1Q Productivity Drops, Labor Costs Rise

Nonfarm productivity fell in the first quarter as companies hired more workers to maintain output, but a moderate rise in wages suggested little pressure on company profits and inflation.
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ECB Holds Rates As Price Pressures Prevent Cut

The European Central Bank held its main interest rate at 1.0 percent on Thursday as stubborn inflation offset pressure to loosen borrowing costs further to support the weak eurozone economy.
China market

After Bull Run, Investors Seek Shelter: Daily Markets Wrap

A disappointing ADP Employer Services jobs report issued Wednesday, which showed a still-sluggish U.S. job market, drove U.S. and European markets down and signaled that a key report on employment at the end of the week could be grim.
A woman browses job openings at a job fair in Los Angeles

US Unemployment Rate Likely To Hold At 8.2% In April

Hiring in the U.S. probably picked up somewhat in April after a disappointing showing in March renewed fears of another spring slump in the labor market, economists said in anticipation of the April non-farm payroll report due Friday.
Sanduk Ruit and his team of doctors at the center have developed a simple surgical technique to remove cataracts involving little equipment and instruments that can be used manually. No stitches are needed, and the technique can be used on a simple table

Sanduk Ruit: Nepal's Magic Surgeon Brings Light Back To Poor

Sanduk Ruit and his team of doctors at the center have developed a simple surgical technique to remove cataracts involving little equipment and instruments that can be used manually. No stitches are needed, and the technique can be used on a simple table in field camps.
Rising PMI indicates increased activity in U.S. manufacturing sector according to an ISM report, Monday.

US Factory Orders Drop On Faltering Aircraft Demand

Dragged down by a precipitous slump in demand for civilian aircraft, U.S. factory orders dropped at the highest rate in three years during March, data released by the Commerce Department Wednesday morning showed.
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Germany's Jobless Rate Creeps Up In April

Germany's jobless rate edged higher last month on a seasonally adjusted basis after touching a post-reunification low in March, data showed on Wednesday, reviving concerns about the resilience of the German economy to the euro zone crisis.

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