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Cyprus drops limits on 8 more foreign banks
Cyprus on Friday got rid of limits on money transfers and withdrawals for international clients of another eight foreign banks doing business in the debt-laden country. The Finance Ministry said in a new decree the capital control exemptions now apply to Lebanon's Banque Bemo, BBAC, Credit Libanais and Bank of ...
Mexico cuts growth outlook from 3.5 to 3.1 percent
The Mexican government says it has cut its economic growth forecast for 2013 from 3.5 percent to 3.1 after exports stagnated and first-quarter GDP figures came in weak. The Treasury Department says growth in the first quarter was only 0.8 percent, in part because Easter vacations fell in March instead ...
Brazil approves law to modernize ports
Brazil plans to modernize and expand its overcrowded ports, attract private investments to the sector and make it easier for companies to hire skilled foreign workers, in a bid to spur economic growth, The Brazilian Congress approved legislation late Thursday that allows the private sector to invest in state-owned ports ...
Syrian hackers compromise FT blog, Twitter feeds
A clutch of Twitter accounts and a blog maintained by the Financial Times were hacked Friday, the latest in a series of cyberattacks claimed by the Syrian Electronic Army, a pro-government group which has regularly targeted media organizations it sees as sympathetic to the country's rebels. A few of the ...
Glance: Europe's Key Institutions
Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Here is a look at the key institutions involved in Europe's economic policymaking: —EUROPEAN UNION An economic and political partnership among 27 ...
Raw: Obama Sits Down With Elementary Kids
President Barack Obama left behind scandal-focused Washington on Friday to focus on the country's slowly improving jobs picture. Obama stopped at an elementary school that provides early childhood education. (May 17)
Correction: Drunken Driving-Zero Deaths story
In a story May 17 about a National Transportation Safety Board recommendation on a blood alcohol threshold for drivers, The Associated Press incorrectly reported the definition of a drink. The standard definition of a drink is 12 ounces of beer, 5 ounces of wine and 1.5 ounces of 80-proof alcohol. ...
Retirement tests if Beckham built lasting brand
David Beckham's pecs are at least as much a part of his brand as his kick; his brand of shoes ultimately more lucrative than the game he's giving up. Listed as the world's highest-earning athlete for 2013, Beckham's retirement from play still leaves him with valuable endorsements and unparalleled celebrity. ...
Italian Cabinet passes first economic measures
Italy's new cross-party government has adopted its first measures to help the economy. They include suspending a tax on primary residences and allocating funds to extend a short-term layoff scheme. The Cabinet also eliminated stipends for the premier and the Cabinet members beyond their base salary as lawmakers. The government ...
Greece faces slow, jobless recovery next year
Greece's deep, six-year recession is likely to end in 2014, but growth will be weak and unemployment will remain above 20 percent for another three years, the country's international debt inspectors said. The European Commission issued the gloomy predictions Friday in a 237-page assessment of Greece's bailout agreement, as the ...
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