The crisis in the euro zone has exposed the flaws of the 17-member currency union, and its leaders will need to take urgent action if they want the euro to survive, Warren Buffett told CNBC on Monday.
The three-pronged deal reached by European leaders in October aimed at preventing the euro zone debt crisis from spreading further did no more than “trick” markets into thinking a lasting solution had been found and has in fact made matters worse, Nomura’s Bob Janjuah said on Friday.
Between May 18 and July 27, the Olympic Flame will come to within just 10 miles of 95 percent of the population of the UK, visiting iconic landmarks including Loch Ness and Stonehenge and…Walford, the fictional London borough home to Eastenders, one of Britain’s most popular soap operas.
Italy will face a long period of no growth, leading to the erosion of its primary budget surplus, as an interim government starts the tough task of undoing Silvio Berlusconi’s legacy, George Magnus, senior economic adviser at UBS said on Tuesday.
With ongoing tensions in euro zone sovereign bond markets, stocks have largely escaped the glare of publicity in recent weeks. Investors need to turn their attention to companies once again, and focus on defensive consumer staples and health care, Peter Garnry, equity strategist at Saxo Bank, said on Friday.
European stocks looked set to open higher on Friday, tracking gains in Asian and U.S. trade, after a relatively positive Italian bond auction and the appointment of a new prime minister in Greece boosted investors’ confidence.
The price of oil could rise to as much as $150 per barrel in the near term if investment in the oil-producing countries of North Africa and the Middle East is lower than required to meet growth in demand from emerging economies, the International Energy Agency said on Wednesday.
Lawmakers in the United States should scrap income tax in favor of a tax on household spending in order to get the ailing economy back on track, and could also supplement revenue by taxing “harmful activities” such as driving in congested city centers, Robert H. Frank, professor of economics at Cornell University told CNBC on Tuesday.
Confidence levels among European CEOs have seen a record fall over the past three months, with the situation expected to worsen further in the near term as the euro zone debt crisis threatens the stability of the region’s economy , according to a survey by the Young Presidents Organization.
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