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Morning business round-up: Eurozone debt crisis | Morning business round-up: Eurozone debt crisis |
(1 day later) | |
What made the business news in Asia and Europe this morning? Here's our daily business round-up: | What made the business news in Asia and Europe this morning? Here's our daily business round-up: |
With emergency talks on Europe's debt crisis about to begin, Germany and France have thrashed out a common position ahead of the meeting. | With emergency talks on Europe's debt crisis about to begin, Germany and France have thrashed out a common position ahead of the meeting. |
But the crisis is far from resolved, and as the BBC's Europe editor Gavin Hewitt writes the upheaval in the eurozone is turning UK policy towards Europe on its head. | But the crisis is far from resolved, and as the BBC's Europe editor Gavin Hewitt writes the upheaval in the eurozone is turning UK policy towards Europe on its head. |
There was better news from Japan, with official figures showing that the country posted a trade surplus for the first time in three months. | There was better news from Japan, with official figures showing that the country posted a trade surplus for the first time in three months. |
It was a sign that exports are starting to recover after the 11 March earthquake and tsunami disrupted production. | It was a sign that exports are starting to recover after the 11 March earthquake and tsunami disrupted production. |
Japan is also getting a new budget airline after All Nippon Airways agreed to set up a joint venture with Air Asia. | Japan is also getting a new budget airline after All Nippon Airways agreed to set up a joint venture with Air Asia. |
In a report on China, the International Monetary Fund urged Beijing to rebalance its economy to head off inflation, a property bubble, and other risks to sustainable growth. | In a report on China, the International Monetary Fund urged Beijing to rebalance its economy to head off inflation, a property bubble, and other risks to sustainable growth. |
In contrast, the UK's problem is not rapid growth but the sluggishness of its economy. Nevertheless, official data showing that UK retail sales posted a modest rise in June will be welcomed - even if it was mainly due to price cutting. | In contrast, the UK's problem is not rapid growth but the sluggishness of its economy. Nevertheless, official data showing that UK retail sales posted a modest rise in June will be welcomed - even if it was mainly due to price cutting. |
More evidence of just how tough it is in UK retailing came with figures from B&Q, a huge Do-It-Yourself chain, which saw a near 7% fall in sales over just 11 weeks. | |
Technology firms, at least in the US, are doing better. Result from eBay results surpassed expectations due to the expansion of PayPal. | Technology firms, at least in the US, are doing better. Result from eBay results surpassed expectations due to the expansion of PayPal. |
Meanwhile, new markets boosted revenues at Intel. | Meanwhile, new markets boosted revenues at Intel. |
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