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Spain exits recession, raising timid hopes for Europe

AP Photo

Spain inched out of its two-year recession with timid growth in the third quarter, the country’s central bank said on Wednesday, fuelling fragile hopes of a broader eurozone recovery.

Posted: October 23rd, 2013 in Latest Business Stories | Read More »

Ireland officially exits recession

AFP FILE PHOTO

Bailed-out eurozone nation Ireland exited recession in the second quarter with economic growth of 0.4 percent, official data showed on Thursday.

Posted: September 19th, 2013 in Latest Business Stories | Read More »

Eurozone recession end is cold comfort for Greece

An elderly man carries shopping bags at Athens' central fruit and vegetable market, on Tuesday, Aug. 13, 2013. Greece is beating its budget targets by a wide margin so far this year, a sign the country's painful cost cuts and tax increases, combined with international bailout funds, are paying off. AP

Europe’s recession is over, thanks to second-quarter growth in big countries Germany and France and an improvement in some of the smaller ones that have been hit hard by the financial crisis. But the pain is not over as many still have mountains of public debt to pay off and record unemployment. It’s also uncertain how long a recovery can be sustained.

Posted: August 14th, 2013 in Latest Business Stories | Read More »

Eurozone’s longest-ever recession comes to an end

AP FILE PHOTO

Official figures confirm that the recession in the eurozone came to an end in the second quarter of the year. Eurostat, the European Union’s statistics office, says the 17 European Union countries that use the eurozone saw their collective economic output grow by 0.3 percent in the April to June period from the previous quarter.

Posted: August 14th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Eurozone jobless down for first time in 2 years

Unemployed Greeks wait in a long line at a state labor office to collect benefit checks, in Athens, in this file photo. Greece and Spain have the highest unemployment rates in the eurozone, with both countries also mired in a youth unemployment crisis, according to figures released by Eurostat, the EU's statistics office, Monday July 1, 2013, which reveals that unemployment across the 17 European Union countries that use the euro hit another all-time high in May 2013. AP

Further evidence emerged Wednesday that the eurozone economy is on the mend after struggling with a recession that’s seen unemployment edge toward the 20 million mark.

Posted: July 31st, 2013 in Latest Business Stories | Read More »

Japan’s economy shrinks in 4Q, stays in recession

Prime Minister Shinzo Abe. AP FILE PHOTO/Junji Kurokawa

Japan’s economy remained mired in recession late last year, shrinking 0.4 percent in annualized terms for the third straight quarter of contraction on feeble demand both at home and overseas.

Posted: February 14th, 2013 in Latest Business Stories,Photos & Videos | Read More »

Japan in recession after 2Q growth revised down

An international freighter (R) approaches a container terminal at the Tokyo port on December 10, 2012. Japan confirmed that the world's third-largest economy shrank in the three months to September, stoking fears the country is slipping into a recession.  Financial turmoil in Europe, a strong yen that has dented exports and a painful diplomatic row with major trade partner China have dented Japan's economy. AFP / YOSHIKAZU TSUNO

Japan’s economy is technically in recession after authorities said revised figures for the April-June quarter showed the economy shrank for two straight quarters.

Posted: December 10th, 2012 in Latest Business Stories | Read More »

A long and winding road to Europe’s recovery

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The seemingly endless deluge of mostly dreary economic figures such as growing unemployment and weak manufacturing output from across Europe reinforced the view that the road to the region’s recovery remains long and winding.

Posted: August 13th, 2012 in Headlines | Read More »

Spanish economy shrinks faster

AP Photo

Spain’s downturn deepened in the second quarter, with the economy shrinking 0.4 percent after contracting 0.3 percent in the first three months of 2012, official data showed Monday.

Posted: July 30th, 2012 in Latest Business Stories | Read More »

British recession deepens as economy shrinks 0.7% in Q2

Britain's Prime Minister David Cameron, rear, arrives with France's President Francois Hollande for their bilateral meeting at Number 10 Downing Street in central London, Tuesday July 10, 2012. Prime Minister David Cameron's office says he plans to discuss the eurozone financial crisis and the violence in Syria Tuesday in talks with France's new president. (AP Photo/Andrew Winning, Pool)

Britain’s economy shrank by a worse-than-expected 0.7 percent in the second quarter, official data showed on Wednesday, as recession tightened its grip.

Posted: July 25th, 2012 in Featured Gallery,Latest Business Stories,Photos & Videos | Read More »

Spain falls into recession amid fears of eurozone bank run

spain-map

Spain tumbled into recession and European stock markets and the euro fell Thursday as Greece installed a crisis government to tackle its crippling debt, EU leaders prepared for talks and analysts raised the spectre of a run on eurozone banks.

Posted: May 17th, 2012 in Latest Business Stories | Read More »

Spain falls back into recession

Thousands demonstrate against education and health care spending cuts in Madrid, Sunday, April 29, 2012. Tens of thousands of people across Spain are protesting education and health care spending cuts as the country slides into its second recession in three years. With unemployment at 24.4 percent – a eurozone high – and more than half of Spaniards under 25 years old jobless, Prime Minister Mariano Rajoy's conservative government has introduced stinging austerity measures in its first five months in office.  AP PHOTO/DANIEL OCHOA DE OLZA

Spain has back tipped into recession, an official estimate confirmed Monday, even as the government pressed ahead with unpopular spending cuts to rein in burgeoning debt.

Posted: April 30th, 2012 in Latest Business Stories | Read More »

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