PARIS, March 11 (Reuters) – The recovery in developed
economies is on track although slowing activity in big emerging
markets means global growth will be only moderate at best in the
near term, the OECD said on Tuesday.
Exceptionally bad winter weather in North America and a
sales tax hike in Japan are also disrupting the pace of
recovery, the Paris-based Organisation for Economic Cooperation
and Development said.
PARIS, March 6 (Reuters) – France is facing pressure to
deliver on long-promised, deep budget savings in the next couple
of weeks to keep the increasingly strained faith of its EU
partners, bond markets and ratings agencies.
Unimpressed with French efforts so far, the European
Commission warned on Wednesday that Paris would miss its
deficit-reduction targets in the absence of further action.
PARIS (Reuters) – The French Treasury cast doubt on a closely watched business survey on Tuesday, saying it badly reflected recent French growth trends, while the survey’s compiler said public spending distorted the official GDP figures.
Markit’s monthly index of purchasing managers (PMI) has for months showed French business activity to be contracting while much of the rest of the euro zone is recovering, leaving some economists and government officials perplexed.
BERLIN/PARIS (Reuters) – Economic growth in Germany and France, the euro zone’s two largest economies, marginally exceeded expectations in the fourth quarter and offered hope of a more robust 2014.
The euro zone number is due at 1000 GMT and forecast to show quarterly growth of 0.2 percent. Given the performance of its biggest constituent parts, that could be exceeded.
PARIS, Feb 13 (Reuters) – Governments would automatically
share information on taxpayers’ offshore bank and brokerage
accounts with foreign tax authorities, under a draft agreement
published on Thursday by the Organisation for Economic
Cooperation and Development.
At the request of the Group of 20 biggest economic powers,
the OECD devised the automatic exchange of financial information
so that tax evaders would have no room to hide when they stashed
cash in foreign accounts.
PARIS (Reuters) – France will eke out meager economic growth in the first three months of 2014, the central bank said on Monday, as the euro zone’s second-biggest economy struggles to avoid falling further behind the pack.
Data on Monday showed French industrial production dropped 0.3 percent in December from November, falling short of expectations, although the figure for the fourth quarter as whole was positive.
PARIS, Feb 10 (Reuters) – Euro zone countries should launch
ambitious new projects like common unemployment insurance to
counter a surge in support for Eurosceptical parties, French
Finance Minister Pierre Moscovici said in an interview.
Opinion polls suggest anti-EU parties are likely to make big
gains in European Parliament elections in May, channelling voter
frustrations with mainstream politicians’ handling of a debt
crisis that caused a prolonged recession and high jobless levels
in many euro zone countries.
PARIS (Reuters) – France’s labour minister on Tuesday rejected pressure from the opposition to resign over the government’s failure to get unemployment falling last year as promised, insisting jobless totals had finally peaked.
In a setback for President Francois Hollande, data showing a rise in jobless claims to record levels in December crushed his promise of reversing a rise in unemployment by the end of 2013.
PARIS (Reuters) – French jobless claims rose a further 10,200 in December to hit a new record, dashing President Francois Hollande’s hopes of keeping his pledge to start lowering unemployment by the end of 2013.
Labor Ministry data showed on Monday the number of people registered as out of work in mainland France reached 3,303,200 last month, the largest total since records have been kept. It represented an increase of 0.3 percent over one month and 5.7 percent over one year.
PARIS, Jan 27 (Reuters) – France and Germany said on Monday
banks should ring-fence speculative activities from other
business lines rather than be banned from them outright, setting
out their position ahead of European Commission proposals aimed
at limiting risk.
On Wednesday, the EU executive will propose a draft law to
rein in risks from trading at banks to make it less likely
taxpayers will have to bail out lenders if trading bets go