Friday, March 9, 2012

A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Thursday:

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ATHENS, Greece ? Greek government officials and world markets appeared confident that a high number of private investors would participate in a major Greek debt reduction deal as the deadline to do so passed Thursday night.

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FRANKFURT, Germany ? The European Central Bank saw no need to take further action to help stabilize Europe's financial crisis Thursday as President Mario Draghi told governments and banks that, following the ?1 trillion-plus offer of low interest loans, the burden of fighting the problem was now on them.

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LONDON ? The Bank of England kept monetary policy unchanged on the three-year anniversary of its historic decision to cut interest rates to a record low and pump money into the British economy.

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BERLIN ? Industrial production in Germany returned to growth in January after slowing sharply the previous month, underlining hopes that Europe's biggest economy will avoid slipping into recession.

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MADRID ? Spain's Parliament has approved the conservative government's drastic new labor reform aimed at lifting the country out of its economic morass.

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TOKYO ? Japan's economy shrank less than first estimated in the final quarter of last year amid an increase in business investment as reconstruction from the March 2011 disasters picked up.

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TORONTO ? Canada's central bank left its key interest rate unchanged at 1 percent but said it believes economic conditions have improved slightly since January.

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SAO PAULO ? Fuel delivery truckers have ended a three-day strike that emptied many gas stations in South America's biggest city.

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GENEVA ? Switzerland's central bank says it has posted a higher-than-expected annual profit of $14.75 billion for 2011.

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Source: http://news.yahoo.com/look-economic-developments-around-globe-203941839.html

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