The European Banking Authority (EBA) said on Monday it was impressed with banks' willingness to take all the necessary measures to meet new capital requirements, refuting earlier press reports which claimed that the EU’s banking regulator would not accept the banks’ suggested changes.
While there are plenty of risks to an economic recovery, the start of 2012 is nothing like the 2008-2009 crisis, Jim O’Neill, Chairman at Goldman Sachs Asset Management told CNBC on Thursday.
Concerns over the size of United States debt reared their head once again as ratings agency Standard & Poor’s warned that health care costs for a number of highly-rated Group of 20 countries, including the U.S., could hurt growth prospects and harm their sovereign creditworthiness from the middle of this decade.
The Internet is more resilient to the economic downturn than other industries, Eric Schmidt, Executive Chairman of Google told CNBC in Davos on Thursday, and it will continue to create opportunities for “alarmingly interesting” things1st paragraph of story should go here
The impact of a Greek default on American banks would be negligible, JP Morgan Chase CEO Jamie Dimon told CNBC on Thursday, and while there are chances of a bad outcome in Europe, he is not concerned about unpleasant surprises in the region.
The euro zone is nowhere near finding a solution to the debt crisis plaguing it and needs deep restructuring as well as a new constitution as part of an effective long-term remedy as printing money will not solve its problems, Kenneth Rogoff, Professor at Harvard University told CNBC on Wednesday.
The International Monetary Fund on Tuesday lowered its forecasts for global growth, saying it sees global activity decelerating but not collapsing, with most advanced economies falling back into recession and developing economies slowing from a high pace of growth.
Investors have reason to be more optimistic again and should start taking on more risk as the likelihood of a new global recession has faded, Larry Kantor, Head of Research at Barclays Capital said on Friday.
Stock markets have already discounted “some very bad news” and there is no reason to fear stocks will sink, despite gloomy prospects for the global economy, Marc Faber, publisher and editor of the Gloom Boom & Doom Report, told CNBC on Thursday.
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