PORCIA, Italy - The boxy white and grey factory of this rainy northern town makes fewer than half the washing machines it did when Italy joined the euro. It is one of the many symbols of Southern Europe's industrial decline.
Recent Business News
SHANGHAI - A wildcat strike at an IBM factory in southern China illustrates how tectonic shifts under way in the country's labor market are emboldening workers to take matters into their own hands, raising risks for multinationals.
LONDON - The Bank of England may appoint a judge, academic or senior financial industry executive to run an independent inquiry into its actions in relation to allegations it allowed manipulation of the foreign exchange market, the Sunday Telegraph reported.
PARIS - France's Bouygues Telecom has agreed to sell its mobile network and much of its spectrum to smaller rival Iliad as a way to head off competition regulators' concerns about its pending bid for Vivendi's SFR .
BEIJING - China's exports unexpectedly tumbled in February, swinging the trade balance into deficit and adding to fears of a slowdown in the world's second-largest economy despite the Lunar New Year holidays being blamed for the slide.
The FT's Michael Mackenzie reports that the amount of money borrowed on margin to buy stocks on the NYSE hit a new, nominal high of $451 billion. That's up 20% over last year, Mackenzie reports.
- Manufacturing and consumer spending edge up
- Is China’s red-hot housing market finally beginning to cool down?
- What we know about income inequaliy: America’s disappearing ‘middle-skill’ jobs and falling wages
- The end of the boom in emerging markets reserves
- Is the US labor market doing better than we think?
- US sees moderate manufacturing growth in January