Bloomberg Low interest rates are helping to reduce euro-area public debt, but rigorous enforcement of European Union fiscal rules is also needed to bring the burden down by a “sizable” amount, the European Central Bank said. Since the end of the financial crisis, euro-area countries have struggled to unwind a debt ratio that stood at around 93 percent of ...

  Bloomberg The U.S. may be the lone bright spot in an otherwise sluggish global economy as American consumers continue to buy expensive new vehicles at record levels. The U.S. industry sold 1.51 million cars and light trucks in April, according to researcher Autodata Corp. That broke an 11-year-old record, according to Edmunds.com. Sales skewed toward more expensive sport utility ...

  Bloomberg Petrobras has agreed to sell assets in Argentina and Chile for about $1.4 billion as Brazil’s state-controlled oil producer looks to raise cash and focus on deep-water projects in Brazil. The Rio de Janeiro-based producer has completed negotiations to sell its 67.2 percent stake in Petrobras Argentina SA to Pampa Energia SA for $892 million, it said Tuesday ...