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(MENAFN - AFP) US consumer spending and incomes rose in January as a decline in consumer prices picked up speed, Commerce Department data released Monday showed.

Consumer spending, which drives about 70 percent of the economy's activity, rose 0.3 percent in January, rebounding from a slight 0.1 percent dip in December, according to data adjusted for price changes. Without ...

 
(MENAFN - AFP) Global oil prices fell Monday, after bumper gains before the weekend, as many traders took profits and eyed plentiful world crude supplies, analysts said.

European benchmark Brent North Sea crude for April delivery dropped $1.26 to $61.32 a barrel in London early afternoon deals.

New York's West Texas Intermediate (WTI) for April shed 90 cents to ...

 
(MENAFN - AFP) The British and German stock markets hit record peaks Monday on hopes that eurozone quantitative easing stimulus, due to be outlined later this week, will bolster economic growth.

Investor sentiment was also given a shot in the arm after China cut interest rates over the weekend for the second time since November.

London's benchmark FTSE 100 index reached ...

 
(MENAFN - AFP) A new portrait of Queen Elizabeth II which will appear on coins in Britain was unveiled on Monday -- only the fifth one of her 63-year reign.

The likeness shows the 88-year-old monarch facing right in profile and wearing a crown and drop earrings. It replaces a previous portrait which dates back to 1998.

The image was designed by Jody Clark, an engraver ...

 
(MENAFN - AFP) Electrical equipment giant Schneider has set up a fund to finance projects aimed at boosting access to energy in sub-Saharan Africa, the French group said Monday.

Some "625 million inhabitants of sub-Saharan Africa do not have access to electricity," Schneider said in a statement announcing the 54.5 million euro ($61 million) Energy Access Ventures Fund.

"This ...

 
(MENAFN - AFP) Greek Finance Minister Yanis Varoufakis called Monday for "intelligent" restructuring of Greece's debt, while acknowledging that a write-down would be unacceptable for the country's creditors.

"A 'haircut' is a dirty word. I've learned that," Varoufakis told the German business daily Handelsblatt.

"Just as we don't want to hear the word 'troika', our ...

 
(MENAFN - AFP) The eurozone's fall in consumer prices eased while jobless figures fell slightly Monday, but the modest improvements were not enough to reduce fears of a deflationary spiral.

Analysts said the figures were welcome but the European Central Bank will still have to pull out the stops to prevent the economy stalling as oil prices continue to fall sharply, stoking ...

 
(MENAFN - AFP) India's factory output in February grew at its slowest pace in five months as business demands remained dim, a survey showed on Monday, suggesting strong government steps were needed to reignite growth.

Banking giant HSBC's report comes two days after the right-wing government unveiled its first full-year budget, which analysts said skipped big reforms but ...

 
(MENAFN - AFP) The eurozone jobless rate showed further signs of improvement in January, hitting its lowest level since April 2012 as the economy picked up from a soft patch late last year, official data showed Monday.

Unemployment in the 19-nation eurozone fell to 11.2 percent from 11.3 percent in December, with the jobless queues down by 140,000 to 18.06 million, the EU ...

 
(MENAFN - AFP) Eurozone consumer prices decreased again in February, but the rate of decline slowed sharply, easing concerns that the economy faced a dangerous deflation spiral, official data showed Monday.

Prices in the 19-nation eurozone were down 0.3 percent in February, much less than the drop of 0.6 percent in January when tumbling energy costs slashed the cost of living, ...

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