Warren Buffett“A public opinion poll is no substitute for thought.”
Adlin Sinclair“Success is a welcomed gift for the uninhibited mind.”
A look at global economic developments (AP)
LONDON — Economic sentiment in the 16 countries that use the euro worsened in February for the first time in nearly a year, the
said, in a further sign that the recovery from recession has lost momentum.
With sentiment fragile and debt worries mounting across the single currency area, particularly in Greece, the Commission said it was sticking to its November forecast that the eurozone economy would grow by a very modest 0.7 percent this year.
The eurozone’s failure to build on its exit from recession last year was evident in the Commission’s monthly economic sentiment indicator, which fell 0.1 point to 95.9 in February, partly because consumer confidence deteriorated.
The decline is the first after ten consecutive monthly increases.
. The
of leading British shares closed down 1.2 percent,
slid 1.5 percent and the CAC-40 in
was 2 percent lower.
The worst performing main index in Europe was Athens, which ended down 2.8 percent.
TOKYO — Asian shares were mostly lower. The
stock average fell 1 percent, South Korea’s Kospi lost 1.6 percent,
fell 0.3 percent and Australia’s market dropped 1.2 percent. Shanghai’s benchmark defied the downward swing, rising 1.3 percent.
may not have emerged from recession at the end of 2009 after all, as statistics showed a dramatic fall in business investment in the last three months of the year.
The surprise 5.8 percent decline in business investment led many economists to reconsider their expectations that a 0.1 percent rise in gross domestic product in the fourth quarter would be revised upward in new data due out Friday — with some warning of a downward revision instead.
of 2009 had officially ended an 18-month downturn, the country’s worst recession since
.
BERLIN — The euro is in a difficult situation for the first time since its launch, but the 16-nation currency will come through,
said.
The euro, introduced in 1999, has suffered in recent weeks from worries over the ability of Greece in particular, but also countries such as
, to rein in their large
.
, Merkel said the currency proved itself during the
was spared deeper turbulence, but noted that the crisis has led to an increase in public debt.
BERLIN — Unemployment in Germany, Europe’s biggest economy, edged up only slightly to 8.7 percent in February despite a particularly hard winter.
disrupted flights on the third day of a walkout that looks set to extend into the weekend.
are upset at a restructuring plan that would jeopardize their status as public servants.
BEIJING — China accused Washington of abusing trade relief measures after U.S. regulators increased import duties on Chinese-made steel pipes.