Europe still in recession, Q2 estimates show

October 12th, 2009 Analyst raises Coca-Cola estimates on sales boostMILWAUKEE — An analyst on Monday raised estimates for Coca-Cola Co., saying the world's largest soft drink maker will see improving trends in its third quarter and less drag from foreign currency exchange. The Atlanta-based company is due to announce its third-quarter earnings on Oct.

October 7th, 2009 BRUSSELS - The European Union's economy contracted by a worse-than-expected 0.3 percent in the second quarter, according to final Eurostat estimates out Wednesday. The European statistical office had previously estimated a fall in the bloc's gross domestic product of 0.2 percent.

October 2nd, 2009 Obama: New jobless number a sobering reminderWASHINGTON — President Barack Obama is calling the latest jobless figures a sobering reminder that progress to reverse the recession comes in fits and starts. He says the new unemployment numbers also serve as a reminder that the country needs to "grind out this recovery step by step." Obama made the comments after the Labor Department reported that the unemployment rate rose to 9.8 percent in September as employers cut more jobs than expected.

September 17th, 2009 HYDERABAD - Indian economy will see "definite signs of recovery" in the second half of the current financial year and will grow between 6 and 6.5 percent in the fiscal, Prime Minister's Economic Advisory Council chairman C. Rangarajan said here Thursday.

August 21st, 2009 BERLIN - The economic gloom which descended on Europe over the last 12 months is slowly continuing to lift, with key surveys released Friday showing industry confidence gaining ground this month. The economics research group Markit said its composite purchasing managers' index (PMI) for the 16-member eurozone showed the currency bloc's economy edging its way towards expansion this month after posting its seventh consecutive rise.

August 11th, 2009 Fossil 2Q profit falls, but tops Wall StreetRICHARDSON, Texas — Watchmaker Fossil Inc. said Tuesday that its second-quarter profit dropped 34 percent due to the ongoing economic downturn and stronger dollar, but the results managed to beat Wall Street's expectations.

July 31st, 2009 WASHINGTON - The US economy shrank at a one-percent annual rate in the second quarter of 2009, according to a preliminary estimate Friday by the US Commerce Department. The figure was better than economists expected and signals that the longest US recession since the Great Depression of the 1930s has slowed dramatically.

July 31st, 2009 Recession was deeper in '08 than previously knownWASHINGTON — The recession inflicted even more damage on the economy last year than the government had previously thought. The Commerce Department, in revisions issued Friday that date back to the Great Depression, now estimates that the economy grew just 0.4 percent in 2008.

July 3rd, 2009 $10B deal would ship gas from Africa to EuropeABUJA, Nigeria — Nigeria's state oil company says that Nigeria, Algeria and Niger have signed an agreement to create a $10 billion trans-Saharan gas pipeline to ship gas to Europe. Managing director Mohammed Barkindo said Friday the project was approved by energy ministers from all three governments.

June 25th, 2009 LONDON - An Indian-born member of the British House of Lords has told the historic chamber that growing Indian investments need not cause fears of an Indian Raj over Britain. Rather than causing a reversal of history, he told members, Indians could surely show Britain a way out of the current recession.

June 25th, 2009 LONDON - Indian investments need not cause fears of an Indian Raj over Britain, the House of Lords has been told by an Indian-born member, but instead would surely show Britain a way out of the current recession. In the 17th century, Britain entered into trade with India in the name of the British East India Company, Lord Navneet Dholakia of the Liberal Democrat Party told the British upper house of parliament.

May 4th, 2009 EU says Europe faces deep and widespread recessionBRUSSELS — The European Union says Europe faces a "deep and widespread recession" and that unemployment will rise sharply over the coming two years. It says both the 27-nation EU and the 16 countries that use the euro currency will shrink 4 percent this year, way more than its previous forecasts.

April 29th, 2009 BRUSSELS - A business partnership summit between India and the European Union (EU) will be held here October 1-3 to build a strategic partnership between India and the 27-member bloc, organisors of the event said Wednesday. The three-day summit titled 'India Calling 2009' will be organised by the Mumbai-based Indian Merchants' Chamber (IMC) in association with the Brussels-based Europe India Chamber of Commerce (EICC) and Belgo-India Chamber of Commerce and Industry.

April 26th, 2009 LONDON - Recession-hit Britain is the shoplifting capital of Europe, according to a report. According to an official league table of the world's most crooked countries, businesses in the UK are more likely to be hit by thieves than almost anywhere else in the world.

March 24th, 2009 BRUSSELS - Brussels-based Europe India Chamber of Commerce has criticized the European Union's restrictive visa policy towards Indian business people and called for improvements, EuAsiaNews reported. 'This goes against the spirit of EU-India strategic partnership as due to the visa restriction it has become practically impossible for Indian business people to fulfil setting up businesses in Europe and also to conclude any business collaboration,' Sunil Prasad, secretary general of the body, said Tuesday.