The European Central Bank will show its determination to check firming price pressures at its meeting on Thursday with markets focusing on whether it uses the strong vigilance codewords to signal a rate rise in June.
Irish Prime Minister Enda Kenny said on Wednesday he would press for lower interest rates for Dublin's EU/IMF bailout but insisted higher corporate taxes would not be part of any such deal.
Irish Prime Minister Enda Kenny said on Wednesday he would press for lower interest rates for Dublin's EU/IMF bailout but insisted higher corporate taxes would not be part of any such deal.
Portugal's two key opposition parties signaled after meeting European and IMF officials on Wednesday they will back a 78-billion-euro bailout that is expected to consign the economy to two years of recession.
Portugal's banks will get up to 12 billion euros ($17.8 billion) to recapitalize under a rescue plan, enabling them to rebuild their balance sheet strength gradually, an official source said.
Gold sat tight as Silver Prices sank once more in London trade on Wednesday morning, holding above last night's 2-session low of $1528 per ounce while silver dropped to new 3-week lows, flirting with the technical definition of bear market.
Euro zone retail sales fell sharply in March, data showed on Wednesday, indicating that rising food and energy prices were curbing household demand and that economic recovery was still mainly industry-driven.
Portugal's main opposition party met European and IMF officials on Wednesday and said they would consider whether to back a 78-billion-euro bailout after a source said the terms would propel the economy into two years of recession.
Conditions attached to a 78 billion euros bailout of Portugal's debt-ridden economy are likely to propel it into a deep recession for two years, an official source said on Wednesday.
Portugal reached a deal with the European Union and the IMF Tuesday on a 78 billion euro 3-year bailout, the third euro zone member to do so after Greece and Ireland, caretaker Prime Minister Jose Socrates said.
BNP Paribas, France's biggest listed bank, beat forecasts for first-quarter revenue and earnings, driven by strong retail growth and resilient investment banking.
World stocks fell further from last week's three-year high on Wednesday as falling commodity prices and concerns about signs of economic slowdown in China prompted investors to scale back their risky positions.
Portugal agreed a three-year 78-billion-euro ($116 billion) bailout with the European Union and IMF Tuesday, making it the third euro zone country in a year, after Ireland and Greece, to need financial help.
Portugal has agreed a three-year, 78-billion-euro ($116 billion) bailout with the European Union and IMF, caretaker Prime Minister Jose Socrates said on Tuesday.
Portugal is close to reaching an agreement with the European Union and IMF on a bailout for the debt-laden country and there are no disagreements between the donors, the European Commission and the IMF said on Tuesday.
Portugal has reached a deal on a three year bailout loan with the European Union and IMF, caretaker Prime Minister Jose Socrates said on Tuesday.
An influential member of Germany's governing coalition backed the possibility on Tuesday of easing the terms of Greece's euro zone bailout, a move that might help Athens better weather the debt crisis.
Greece insisted on Tuesday any restructuring of its debts would be a disaster for the economy, but financial markets continue to view it as likely and are betting that the euro zone debt crisis will worsen.
Two German government advisers see a debt restructuring by Greece as inevitable while two of the overborrowed country's ministers continued to rule it out in newspaper interviews on Saturday.
Portugal may get more leeway on its efforts to reduce the budget deficit under an EU/IMF bailout, a newspaper reported on Wednesday, after the prime minister vowed to protect the country from excessive austerity.
The budget deficit for cash-strapped Greece is even worse than previously thought, according revised data from the European Union’s statistical office, Eurostat.
The Gold Price recovered an overnight dip below $1500 per ounce in London on Tuesday, trading less than 1% shy of yesterday's new all-time high at $1518 as European stock markets rose together with major government bonds and energy prices.
