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China Vice Premier says economy faces headwinds, urges broad reforms – Fox Business

BEIJING –  China’s economy faces more headwinds as it struggles with surplus production capacity and risks to the financial system, a member of the country’s top decision-making body said on Sunday, calling for sweeping reforms, including lessening state control. Vice Premier Zhang Gaoli, a member of the highest-ranking Politburo Standing Committee, warned that failure to […]

Boeing plans to lay off 800 machinists – The Seattle Times

Boeing said Friday it will lay off some 800 machinists by the end of this year as workforce needs on its newest jet programs, the 787 Dreamliner and 747-8 jumbo jet, are reduced. Company spokesman Doug Alder said other reductions will be made through attrition so that the total number of positions cut this […]

Cyprus Aims to Meet Bailout Terms Today as Deposit Levy Debated – Bloomberg

Cyprus Aims to Meet Bailout Terms Today as Deposit Levy Debated – Bloomberg

Cyprus will complete a plan today to meet the terms of a European bailout that may include tapping bank deposits, its finance minister said, as the Mediterranean island races to avert financial collapse. After parliament approved capital controls and legislation to wind down banks yesterday, Cypriot officials are working on additional legislation that could include […]

World markets lower on Cyprus uncertainty – San Francisco Chronicle

AMSTERDAM (AP) — World stocks were mostly lower Friday as it remained uncertain how an impasse on Cyprus’ bailout talks will be resolved. In addition, Japanese stocks tumbled after the country’s new central bank chief, Haruhiko Kuroda, delivered his first speech since taking office. Kuroda reiterated a pledge to bring Asia’s second biggest economy out […]

Stock futures advance as concerns ease over Cyprus – Reuters

By Angela Moon NEW YORK | Fri Mar 22, 2013 8:43am EDT NEW YORK (Reuters) – Stock futures gained on Friday as a banking deal between Greece and Cyprus eased some concerns about the island nation as it tries to avoid a financial meltdown and an exit from the euro that could roil the euro […]

Cyprus, European data batter shares and euro – Reuters

By Richard Hubbard LONDON | Thu Mar 21, 2013 8:40am EDT LONDON (Reuters) – Signs the euro zone’s economic downturn is deepening and worries over a possible financial meltdown in Cyprus sent world shares, oil and the single currency lower on Thursday. The falls could have been greater but for earlier data showing a pick-up […]

Euro falls as gloomy euro zone data raises slow-down risk – Reuters

By Anirban Nag LONDON | Thu Mar 21, 2013 8:25am EDT LONDON (Reuters) – The euro fell on Thursday, after surveys showed the euro zone economy was struggling with weaker-than-expected German business activity data casting fresh doubts about a recovery in Europe’s largest economy. Worries about a banking collapse and uncertainty in Cyprus also loomed. […]

CURRENCIES: Dollar Flat After Cyprus Vote, Before FOMC Meet – NASDAQ

By William L. Watts and Sarah Turner, MarketWatch FRANKFURT (MarketWatch) — The dollar was flat Wednesday, after the Cypriot parliament rejected a bailout proposal and ahead of a policy meeting at the U.S. Federal Reserve. The ICE dollar index (DXY), which measures the greenback against a basket of […]

Cyprus seeks Russian bailout aid, EU threatens cutoff – Reuters

By Michele Kambas and Karolina Tagaris NICOSIA | Wed Mar 20, 2013 8:17am EDT NICOSIA (Reuters) – Cyprus pleaded for a new loan from Russia on Wednesday to avert a financial meltdown, but won no immediate relief after the island’s parliament rejected the terms of a European bailout, raising the risk of default and a […]

Cyprus aims to let small savers out of deposit tax; veto still likely – Reuters

By Michele Kambas and Karolina Tagaris NICOSIA | Tue Mar 19, 2013 8:20am EDT NICOSIA (Reuters) – Cyprus’s government proposed on Tuesday to spare small savers from a divisive levy on bank deposits but said it expects parliament to reject the measure, needed to secure an international bailout and avoid default and a banking collapse. […]