The European Central Bank is widely expected to cut interest rates back to a record low of 1 percent from the current 1.25 percent on Thursday and provide longer-term loans to banks that are struggling to find funding.
More people gave money to charity in the United Kingdom in 2010/2011 than the year before, although the average donation fell by about 8 percent, or £1 ($1.5), with medical research topping the list of charitable causes, a new report published on Friday showed.
The crisis in the euro zone will escalate in 2012, economists at Citi said on Tuesday, sending the countries that share the euro into recession next year and resulting in no more than “modest but sustained growth in the U.S. and still relatively strong – albeit slowing – growth in Asia."
Researchers at Exclusive Analysis who expected a “sudden crisis” scenario to unfold by November 26 have put back the expected arrival date of such an event, saying a crisis is now not likely to unfold until the end of January as new technocratic governments in the euro zone offer the region temporary relief.
Fitch ratings agency on Thursday downgraded its credit rating for Portugal to BB+ from BBB-citing “large fiscal imbalances” and “high indebtedness across all sectors” as well as a gloomy economic outlook as the main reasons for the country’s fall below investment grade rating.
Europe is likely to slip into another recession in 2012 while the United States and China will escape a double-dip, according to the majority of investors polled by Barclays in a new survey.
Unemployment recently hit a 15-year high in the UK, inflation is hovering around 5 percent and economic growth is barely advancing, leaving many to wonder whether hosting an expensive event like the 2012 Olympic Games with taxpayers’ money will bring benefits for a nation already tightening its belt.
Billionaire investor Warren Buffett told CNBC on Monday there were a number of European stocks he liked and singled out British supermarket group Tesco, in which he already has a stake, as a buying opportunity if it came down in price.
Get the best of CNBC in your inbox
CNBC looks at how the computer systems in F1 cars have made their way into regular vehicles.
FIA President Jean Todt discusses his start with the Ferarri team and the current problems facing F1.
F1 experts discuss whether the quieter engine sounds are making the sport less attractive.