Draghi gets ECB backing for unlimited bond-buying

FRANKFURT (Reuters) – The European Central Bank agreed on Thursday to launch a new and potentially unlimited bond-buying program to lower struggling euro zone countries’ borrowing costs and draw a line under the debt crisis.




Private sector hiring quickens in August

WASHINGTON (Reuters) – Private employers added a stronger-than-expected 201,000 jobs in August and new claims for jobless benefits fell last week to the lowest level in a month, upbeat signals for a struggling labor market.




Chesapeake asset deals going as planned: CEO

(Reuters) – Chesapeake Energy Corp will sell up to $14 billion in assets by the end of the year as planned, with proceeds targeted to debt reduction, the company’s chief executive said on Thursday.




Euro zone’s economy heads towards recession

BRUSSELS (Reuters) – Strong exports limited the euro zone’s economic contraction in the second quarter of this year despite falling investment, inventories and private consumption that point to output shrinking overall in 2012.




Draghi to deliver bond plan at crunch ECB meeting

FRANKFURT (Reuters) – European Central Bank chief Mario Draghi faces the most decisive moment of his presidency on Thursday when he tries to heal divisions among policymakers and deliver on his promise to save the euro.




China August export growth seen weak, imports slow

BEIJING (Reuters) – China’s export growth probably edged up from extreme low levels in August while a slump in import was seen deepening, according to a Reuters poll, reflecting concerns that the world’s second-largest economy may have cooled further in the third quarter.




Germany industry orders rise more than expected in July

BERLIN (Reuters) – German industrial orders rose more than forecast in July due to a solid increase in domestic contracts, Economy Ministry data showed on Thursday, boosting hopes that domestic demand will prop up Europe’s largest economy during the euro zone crisis.




Almost one in four Greeks without work in June

ATHENS (Reuters) – Greek unemployment rose by almost a full percentage point in June, leaving close to a quarter of the workforce idle, as Athens struggles to find yet more austerity measures to appease its lenders.