The mathematician of the Complutense University of Madrid, José-Vidal Ruiz Varela, argues that Europe must raise its borrowing limit, leaving its deflationary policy.
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P&G sales rise 2%; reiterates guidance

LONDON (MarketWatch)
Procter & Gamble Co.  reported fiscal first-quarter earnings of $3.03 billion, or $1.04 a share, up 8% from $2.81 billion, or 96 cents a share, in the year-ago period
Adjusted earnings came in at $1.05 per share, down 1% from last year
Net sales rose to $21.21 billion in the quarter, up 2% from $20.74 billion
Analysts surveyed by FactSet expected earnings of $1.05 a share on revenue of $21.07 billion The consumer-products firm reiterated its guidance for the 2014 fiscal year and said it continues to expect organic sales growth of 3% to 4%
It also said it expects strong earnings growth in the second half of the year due to continued top-line growth and productivity savings

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