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October, 22, 2016

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Business > Europe
Brexit 'clouds' eurozone growth outlook, Draghi says
European Central Bank President Mario Draghi on Saturday said Britain's recent vote to leave the European Union "clouds" the medium-term outlook for growth in the eurozone.
'Flash crash' rocks pound as Hollande warns on Brexit
The British pound suffered a dizzying "flash crash" against the euro and U.S. dollar on Friday in a computer-generated sell-off, sending Brexit shockwaves across markets after France warned of perils ahead for Britain. Meanwhile, Asian markets fell.
Norway says it plans to spend 225 billion kroner (US$28 billion) of its oil fund -- the largest in the world -- to further stimulate the economy next year in the Scandinavian country that has shown signs of a gradual economic recovery.
IMF chief Christine Lagarde said Thursday that Deutsche Bank would be better off reaching a deal with the United States over its sale of toxic mortgage bonds than fighting it in court.
British pound's 6 percent 'flash crash' baffles traders
The beleaguered British pound plummeted briefly to a fresh 31-year low Friday amid intensifying concerns about Britain's exit from the European Union.
Sterling's exchange rate plunge could damage exports to Britain from Commonwealth countries, the 53-country body warned Wednesday, voicing concern at the potential knock-on effect of Brexit.
Spain's data protection agency says it will investigate whether the recently announced exchange of personal data between WhatsApp and Facebook meets Spanish data protection legislation.
German industrial firms recorded a sharp uptick in orders in August, official data showed on Thursday, outdoing analyst forecasts and reducing fears of an autumn slowdown in Europe's biggest economy.
Britain's shock decision to leave the European Union will not be as damaging to developing Asia's economies as feared, the World Bank said Wednesday as it increased its growth forecast for the region this year.
The Turkish government is cutting its forecast for the country's economic growth in 2016 to 3.2 percent from 4.5 percent due to the negative global situation, Prime Minister Binali Yildirim said on Tuesday.
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