Wed, Jun 19, 2013 2:57 PM EDT 1:07
Half-way towards a lost decade for Europe's economy, pessimism persists about the political will to halt a worrying slide in the region's potential growth. Without sweeping reforms to boost productivity, Europe's output will remain sub-par, making it harder for governments to reduce debt burdens that are unsustainable financially and unemployment rates that are unsustainable socially. BlackBerry shares fell nearly 4 percent after a Bernstein Research analyst cut his rating on the stock to "underperform" ahead of the company's quarterly earnings release next week. While Bernstein's Pierre Ferragu said he expected disappointing results from the smartphone maker, other analysts have bullish expectations, pointing to an even more volatile run for a generally volatile stock. A federal judge limited the extent to which former Goldman Sachs Group Inc vice president Fabrice Tourre can argue that he was acting on the advice of company lawyers in his defense against charges that he misled investors.