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Greece’s political turmoil entered its fourth day, with coalition talks deadlocked, raising the possibility that another election will have to be held as early as next month. Evangelos Venizelos, the socialist Pasok leader and former finance minister, is trying to form a government after receiving a three-day mandate from President Karolos Papoulias today. Pasok yesterday [...]

U.K. house prices dropped the most in 1 1/2 years in April as a stamp-duty exemption for first-time buyers ended and the economy fell into its first double-dip recession since the 1970s, Halifax said. Prices dropped 2.4 percent from March, the largest monthly decline since September 2010, to an average 159,883 pounds ($258,700), the mortgage [...]

German exports unexpectedly increased for a second month in February, led by demand from outside Europe. Exports, adjusted for work days and seasonal changes, rose 1.6 percent from January when they gained 3.4 percent, the Federal Statistics Office in Wiesbaden said today. Economists forecast a drop of 1.2 percent, according to the median of 10 [...]

European stocks tumbled to a two- month low amid mounting concern about the region’s debt crisis and as a U.S. report showed employers in the world’s largest economy added fewer jobs in March than forecast. UniCredit SpA (UCG), Intesa Sanpaolo SpA and Banca Popolare Di Milano Scarl (PMI) dropped more than 6.5 percent. Banco Santander [...]

The new Spanish government will present its first budget Friday, with austerity expected to be the overriding theme. The problems facing the euro zone’s fourth-largest economy have not dissipated since the government, led by Mariano Rajoy of the center-right People’s Party, took office last year, and there are now worries that the Spanish population is [...]

The productivity of U.S. workers rose at a slower pace in the fourth quarter and labor costs jumped, indicating businesses are reaching the limit of wringing efficiency from their workforce. The measure of employee output per hour climbed at a 0.9 percent annual rate, after a 1.8 percent gain in the prior three months, revised [...]

French consumer confidence climbed for a second month in February after the economy unexpectedly expanded in the fourth quarter, adding to signs of recovery. A measure of sentiment rose to 82 in February from 81 in January, national statistics office Insee said in Paris today. That matched economists’ expectations for a reading of 82, according [...]

Moody’s Investors Service cut the debt ratings of six European countries including Italy, Spain and Portugal and said it may strip France and the U.K. of their top Aaa ratings, citing Europe’s debt crisis. Spain was downgraded to A3 from A1 yesterday, Italy to A3 from A2 and Portugal to Ba3 from Ba2, all with [...]

European (SXXP) stocks dropped, with the Stoxx Europe 600 Index trimming a six-month high, as Greece struggled to reach a deal with its international creditors. U.S. index futures fell, while Asian shares rose. Societe Generale SA, France’s second-biggest lender, and Credit Agricole SA (ACA) lost more than 3.5 percent. Vedanta Resources Plc (VED) slipped 3.2 [...]