Europe's central banker: Recovery 'risks losing momentum'

FRANKFURT, Germany (AP) — The head of the European Central Bank says that the economic recovery “risks losing momentum” due to the second wave of coronavirus infections and that the chief monetary aut...

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 ...

Coronavirus: Europe's banks struggle to survive a second wave

European banks have been urged to scour their balance sheets for bad loans amid growing concerns that write offs across the eurozone could exceed the 2008/09 financial crisis. Andrea Enria, chair of ...

Bank of England asks banks on readiness for negative rates

LONDON (AP) — The Bank of England has asked commercial banks whether they are ready for negative interest rates, signaling that the central bank is moving closer to cutting its key interest rate below...

China leads in race for digital currency

Imagine going to the bank to take out cash, except without going to the bank and without the cash. If the Chinese central bank's plan for a digital yuan succeeds, the future could look something l...

Business Highlights

___ Pre-election economy: Unemployment falls, but hiring slows WASHINGTON (AP) — The U.S. unemployment rate has dropped to 7.9%, but hiring is slowing and many Amer...

Europe's central bank moves toward introducing digital euro

FRANKFURT, Germany (AP) — With consumers increasingly using cashless ways to buy things, the European Central Bank on Friday took a step closer to issuing a digital version of the euro currency shared...

Inflation slump could presage more eurozone stimulus

FRANKFURT, Germany (AP) — Annual inflation in the 19-country eurozone sagged further below zero in September, bolstering expectations that the European Central Bank will add to its emergency stimulus ...

Unemployment marches higher in Europe amid pandemic

FRANKFURT, Germany (AP) — Unemployment rose for a fifth straight month in Europe in August amid concern that extensive government support programs won't be able keep many businesses hit by coronavirus...

European Central Bank head: Ready to add stimulus if needed

FRANKFURT, Germany (AP) — European Central Bank head Christine Lagarde says the bank's massive monetary stimulus measures have helped stabilize the economy amid the pandemic and the ECB is ready to de...

Swedish central bank sees key interest rate at 0 for years

STOCKHOLM (AP) — Sweden’s central bank on Tuesday kept its main interest rate at zero and said it expects it to remain “at this level in the coming years” due to the economic uncertainty created by th...

Central bank head: Europe's recovery uncertain, incomplete

FRANKFURT, Germany (AP) — The head of the European Central Bank says that the economy is rebounding but that the recovery remains uncertain, incomplete and dependent on containig the virus outbreak. ...

EU heavyweights seek strict rules for digital currencies

BERLIN (AP) — Finance ministers from five of Europe's biggest economies called Friday for the European Union to produce strict rules for new, private digital currencies such as Facebook-backed Libra a...

European Central Bank keeps stimulus policies on hold

FRANKFURT, Germany (AP) — The European Central Bank left its key stimulus settings unchanged with almost a trillion euros (dollars) in stimulus still in the pipeline to bolster the eurozone’s rebound ...

Asian stocks gain after Wall Street rebounds from tech slump

Asian stock markets advanced Thursday (Sept. 10) after Wall Street rebounded from a three-day slump for tech stocks. Benchmarks in Shanghai, Tokyo and Seoul. Sydney was little-changed. Wall Stre...