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HuaweiLONDON - Copper rose 2 percent on Friday, as the dollar fell and the euro surged after European leaders agreed on measures to deal with the region’s debt crisis, but the metal is still on track for its worst quarter since the middle of last year.
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LONDON - Gold prices rose on Friday along with the euro after leaders at a European Union summit struck a deal to cut borrowing costs for Spain and Italy, but stayed on track for their biggest quarterly drop in eight years after a dire performance in May and June.
BRUSSELS - Euro zone leaders agreed on Friday to bend their aid rules to shore up banks and bring down the borrowing costs of stricken members like Italy and Spain, in a sign the bloc is adopting a more flexible approach to solving its two-year old debt crisis.
World stock markets and the euro rose sharply on Friday after European leaders hammered out a strategy aimed at stanching an escalating financial crisis among the 17 countries that use the euro.
Gold rose more than 1 percent on Friday, tracking a surge in the euro after European leaders moved to bring down soaring borrowing costs in Italy and Spain, helping ease fears over the region’s debt crisis.
Private equity firm 3i is cutting jobs and closing offices in a move it hopes will help turn around its ailing performance and repair its tarnished reputation.
State-run Indian refiners announced a cut in petrol prices from Friday, mitigating a sharp increase a month ago that sparked public protests and anger among the government’s coalition allies.
European finance officials worked on urgent measures on Thursday to bring down the borrowing costs of Spain and Italy, seen as too big to bail out, with EU leaders deeply divided over a solution to the euro zone’s ever widening debt crisis.
European finance officials were working intensively on short-term ways to stabilise Spanish and Italian borrowing costs on Thursday as EU leaders opened a summit as divided as ever on how to resolve the euro zone’s debt crisis.
WASHINGTON - New claims for US unemployment benefits slipped slightly last week but remained in a holding pattern as employers put off hiring in the face of a weak economy, official data showed Thursday.