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Eurozone economy ‘goes into reverse’

The eurozone economy flipped into reverse in September, falling to its worst level in more than two years, a closely-watched survey showed on Wednesday. Ahead of new growth figures expected to show the debt-laden currency area slipping towards recession, the final Eurozone Composite Output Index compiled by London-based researchers Markit…

Japan overtaken by China as No. 2 economy

TOKYO – Japan lost its 42-year ranking as the world’s second-biggest economy to China in 2010, with data on Monday showing a contraction in the last quarter due to weak consumer spending and a strong yen. While Japan was expected to fall behind a surging China in the year, the…