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Is The Grass Greener in Europe?
How the Euro Economy Compares to the U.S.A.
A quick look at international headlines will tell you that Europe suffers from economic problems too. Falling exports and lower household spending has caused the eurozone economy to shrink over the past six months, with rising fuel and food prices making consumers reluctant to open their wallets.
No one is yet declaring Europe to be in recession (at least, not openly!) but growth is not likely to be impressive with Germany, France and Italy braking sharply. In fact Germany, the EU’s largest economy and the world’s biggest exporter, contracted by 0.5% in…
9Sep2008 | Oakshire Financial | Comments Off | ContinuedEuropean Banks Boosted by More Positive Outlook
After the global financial industry shed $403 billion in write-downs, European banks are finally turning a corner and boosting their share prices.
German giant Deustche Bank AG (DB) and Switzerland’s UBS AG (UBS) both declared they would not need to raise further capital yesterday (Wednesday) as the bulk of losses tied to mortgage-backed securities is now behind them.
“At first glance this is some much-needed positive news for Deutsche in particular but also for the whole sector,†Helge Rechberger, head of equity market research at Raiffeisen Zentralbank in Vienna, told Bloomberg News. He said he remains “cautious†about the…
3Jul2008 | Money Morning | Comments Off | ContinuedWith a $3.1 Billion Program, Europe Hopes to Regain Position as Top Drug-Development Market in the World
In a bid to re-establish itself as the “pharmacy of the world†– and narrow the growing gap between itself and the United States and Asia – Europe is launching a $3.1 billion drug-discovery initiative.
The program – known as the “Innovative Medicines Initiative†– was unveiled in Belgium, and offers financial grants to both academic institutions and small companies to research ways of beating bottlenecks in the drug-development process. The work is “pre-competitive,†meaning it involves issues that are common to drug development, and doesn’t give any individual company a competitive advantage.
At one time, Europe was the worldwide…
16Jun2008 | Money Morning | Comments Off | Continued
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