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Dark déjà vu for European economy as virus cases spike

LONDON (AP) — Europe’s economy was just catching its breath from what had been the sharpest recession in modern history. A resurgence in coronavirus cases this month is a bitter blow that will likely ...

World oil demand forecast to suffer biggest drop ever

LONDON (AP) — Global demand for oil will fall this year by the most ever due to the economic lockdowns enforced around the world to contain the coronavirus pandemic, the International Energy Agency sa...

Ireland wary of UK's optimism for EU trade deal this year

DUBLIN, Ireland (AP) — Getting a new trade deal between the U.K. and the European Union by the end of the year — as the British government claims will happen — would be a feat “nearly without preced...

Oil price jumps on fear of Iranian retaliation against US

LONDON (AP) — The price of oil surged Friday as global investors were gripped with uncertainty over the potential repercussions after the United States killed Iran's top general. New...

UK vote eases corrosive uncertainty hurting businesses

LONDON (AP) — The British election result is a boost to the economy and financial markets in the short term as it will ease some of the uncertainty over Brexit that has hobbled business confidence d...

The Brexit story so far: How Britain got itself in a bind

LONDON (AP) — Britain's 2-day-old draft deal to leave the European Union is in danger of collapsing, increasing the likelihood of a disorderly, economically painful exit from the bloc next year. ...

US sanctions have a weak spot: tiny allies like Latvia

RIGA, Latvia (AP) — When the U.S. hit North Korea with sanctions last year, Pyongyang's state-owned banks found a quiet backchannel to keep money flowing to the country's ballistic missile programs, t...

US sanctions have a weak spot: tiny allies like Latvia

RIGA, Latvia (AP) — Latvia has come into focus as a potential weak link in the West's banking system that allows countries like Russia and North Korea to dodge sanctions. As the U.S. increasingly uses...

Ex-NATO chief seeks task force to clean up Latvian banking

RIGA, Latvia (AP) — The former head of NATO has asked the prime minister of Latvia to create an international task force to guide the country in cleaning up its banking sector, which has been rocked b...

Banker: "Nightmare" dodging extortion attempts in Latvia

LONDON (AP) — Latvia's top banking official, a key member of the European Central Bank, has been accused by local bank Norvik of seeking kickbacks, trying to launder Russian money and retaliating agai...

AP Exclusive: Key EU banker accused of bribery, Russia ties

LONDON (AP) — Executives at Latvian bank Norvik say the nation's central bank chief, who was detained Saturday without charges, sought to extort money from their firm for years. Cent...