Poland Mulls Converting Swiss Franc Loans to Zlotys

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

WARSAW--The Polish government is working on plans to convert Swiss franc mortgage loans owned by Polish borrowers into zlotys to reduce private debt and foreign-currency exposure, passing the cost of the operation onto banks, the prime minister said Monday. The ...

German Business Confidence Exceeds Expectations -- Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Todd Buell FRANKFURT--Business confidence in Germany rose again to kick off the New Year, a widely watched survey showed Monday. The Ifo Institute's monthly indicator of business confidence increased to 106.7 in January from 105.5 in December, exceeding the ...

ECB's Visco Defends QE Program

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

FRANKFURT--European Central Bank governing council member Ignazio Visco has defended the bank's stimulus program, arguing that the eurozone could fall into deflation. In an interview with the Handelsblatt newspaper he noted that prices are rising at a slower rate than ...

Markets Take Greek Result in Stride -- 2nd Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Tommy Stubbington Greek stocks on Monday felt the weight of the success of antiausterity party Syriza in the country's election, but the impact on European markets more broadly was mild. Athens' main stock index initially slumped by nearly 5%, ...

Actavis Buys Auden Mckenzie, to Become Largest UK Generic Supplier

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Angela Chen Actavis PLC agreed to buy generic-drug manufacturer Auden Mckenzie Holdings Limited for GBP306 million, a move that will make Actavis the top supplier of generics in the United Kingdom. The deal is the latest acquisition for Dublin-based ...

French Minister Says Syriza Won't Question Euro Membership

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

BRUSSELS--France's finance minister said Monday that Greece's new governing party has proven that it won't put the country's future in the eurozone in question. "[During its electoral campaign] at no moment did it [Syriza] speak of leaving the eurozone, which ...

German Government: Greece Must Keep Reform Promises

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Andrea Thomas BERLIN--Berlin on Monday signaled an uncompromising line toward the next Greek government, insisting Athens must adhere to the terms of the bailouts that the previous government had signed with international creditors, according to comments made by Chancellor ...

German Finance Minister Says Too Early to Discuss Greek Debt Demands

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Gabriele Steinhauser BRUSSELS--It is too early for the eurozone to discuss demands by Greece's incoming government for ending austerity and forgiving some of the country's debts, Germany's finance minister said on Monday. "We will see how the new government ...

Europe Holds Firm on Greek Bailout Terms -- 2nd Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Matthew Karnitschnig, Gabriele Steinhauser and Laurence Norman Europe's political establishment moved quickly to douse hopes it would substantially relax the terms of Greece's bailout after antiausterity leftists swept to power in the country's national election, insisting that Athens honor ...

U.S Government Bonds Pull Back After Earlier Rally on Greece

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Min Zeng Treasury bonds pulled back on Monday, giving back an earlier price rally, as investors believe the fallout from Sunday's national elections in Greece will be contained. Looming fresh new U.S. government bond sales also weigh down bond ...

Dana Holding Sells Venezuelan Operations

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Jeff Bennett Dana Holding Corp. sold its Venezuelan operations on Monday, the latest company in the automotive industry to make significant changes in a nation dogged with economic uncertainty and tight currency controls. Dana's Venezuelan subsidiary, C.A. Danaven, which ...

Russia's SB Bank Stops Client Withdrawals

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

MOSCOW--Russian midsize lender SB Bank said on Monday that clients would be unable to withdraw money, the latest casualty of increasing strains on Russia's banking system. The bank, Russia's 80th largest by assets, said on its website that it would ...

Microsoft's Profits Fall On Higher Costs -- 2nd Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Tess Stynes Microsoft Corp. on Monday said its earnings fell more than 10% during the quarter ended December on costs related to its streamlining effort and its integration of the mobile phone business acquired from Nokia last year. Shares ...

Leftists Sweep to Power in Greece -- 5th Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Charles Forelle, Nektaria Stamouli and Alkman Granitsas ATHENS--Greek voters handed power to a radical leftist party in national elections on Sunday, a popular rebellion against the bitter economic medicine Greece has swallowed for five years and a rebuke of ...

Syriza's Challenge: an Empty Treasury -- 2nd Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Marcus Walker The clock is ticking for Syriza--the victorious antiausterity party in Greece's elections--to strike a deal with creditors to keep Greece solvent and in the euro. It wasn't clear yet late Sunday whether the left-wing party had won ...

Euro Hits Fresh Lows on Greek Elections

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Hiroyuki Kachi The euro hit fresh lows against the dollar and the yen before staging a rebound later in the session in choppy Asian trade Monday, with the common currency coming under selling pressure due to uncertainties in the ...

U.S. Futures, Asian Stocks Fall After Greek Election -- Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Mike Cherney The euro fell, touching the lowest level against the U.S. dollar and Japanese yen in more than a decade, while Asian stocks and U.S. futures tumbled after Greece's antiausterity Syriza party was projected to win the country's ...

Greek Markets Take a Hit After Election Result -- Update

TODAY: Jan. 27, 2015 PUB DATE: Jan. 26, 2015

By Tommy Stubbington Greek markets took a hit after Greece's voters handed power to anti-austerity party Syriza in Sunday's election, but a dip in the euro proved fleeting, and stocks across Europe broadly shrugged off the news. Athens' main stock ...