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Europe News Eastern Europe

  • Japanese Flag

    The headline this morning from Automotive News is hardly surprising, but it is another reminder of how the U.S. auto industry has changed dramatically in recent years. The latest data shows Japan surpassed the U.S. last year to become the world's #1 vehicle producer. It's the first time in 12 years Japan has outpaced the U.S. Not only that, but the Asian country is on track this year to expand its lead.

  • Inflation in the 13 nations that share the euro held steady at 1.9% in June while business and consumer confidence slipped slightly after soaring a month earlier, the European Commission said Friday.

  • Airbus added more multi-billion dollar orders to its Paris air show haul on Wednesday, but analysts said the bonanza did not herald a new dawn for the troubled European aircraft maker.

  • Dutch banking and insurance company ING Group is buying Turkey's Oyak Bank for $2.67 billion, joining a rush of overseas financial groups buying into the fast-growing Turkish market.

  • Mail delivery across the European Union should be liberalized by 2011, a panel of EU lawmakers recommended, backing countries such as France and Luxembourg seeking a postponement of the 2009 deadline proposed by the EU's executive arm.

  • Vladimir Milev, investment analyst at Metzler-Payden Funds, told CNBC’s “Squawk Box” that investors might consider Eastern Europe when looking for hefty returns.

  • Turkmenistan's government has given a go-ahead to Russian oil giant Lukoil to work three fields in the energy-rich Caspian Sea, official media in the Central Asian nation reported Wednesday.

  • The Group of Eight wealthy-nation summit in Germany is ending Friday. Now, the question arises: Is the G8 still able to confront global issues or has it become outdated? Ian Vasquez, director of the CATO Institute’s Center for Global Liberty & Prosperity, and P.J. Crowley, senior fellow and director of homeland security at the Center for American Progress, presented differing views on “Morning Call.”

  • Merkel, Putin, Bush

    This meeting of the world's richest nations may be the most challenging one for the U.S. in years, given the growing power of Russia and China.

  • President Bush, left, shakes hands with Russian President Vladimir Putin after their meeting at the G8 Summit in Heiligendamm, Germany, Thursday June 7, 2007.

    Russian President Vladimir Putin proposed to US President George W Bush setting up a joint missile radar base in Azerbaijan to overcome a crisis between the two countries.

  • Euro zone quarterly economic growth slowed as expected at the start of the year as consumer demand contracted and export growth plunged, data from European Union statistics office Eurostat showed on Friday.

  • Cell phone users in the European Union could enjoy cheaper rates for calls made and received abroad as early as August, after EU lawmakers endorsed a deal Wednesday to cap mobile phone roaming fees in the 27-nation bloc.

  • The euro zone's external trade balance swung to a surplus in March from a deficit in February, showing exports were likely to have contributed to economic growth in the first quarter despite the strength of the euro.

  • High-yield bond investor focus is often on emerging markets. But on “Street Signs,” Pioneer Investments’ Andy Feltus, portfolio manager of the $2 billion Pioneer Global High Yield Fund, told CNBC’s Erin Burnett that there is more value in the U.S.

  • EU negotiators agreed Tuesday to cap mobile phone roaming charges in an effort to cut costs for travelers using their phones abroad _ although it remained to be seen whether customers would benefit from the new tariffs this European summer holiday season.

  • A group of European banks are in secret talks to set up a pan-European debit card to challenge MasterCard  and Visa Europe in cross-border business, a document obtained by Reuters said on Friday.

  • Texas Instruments

    Texas Instruments is looking abroad when it comes to boosting revenue and earnings, said President and Chief Executive Rich Templeton, speaking at the company’s annual analyst meeting. “We’re probably not a great proxy in terms of the U.S. economy,” Templeton told “Morning Call.” He explained, “More than 70% of our revenue actually ships around the world.”

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  • EU finance ministers meet Tuesday for talks that where they are expected to agree to keep an eye on hedge funds but set no new rules at this stage for the high-risk, high-return investments.

  • spidey_3_scene_AP.jpg

    "Spider-Man 3" is breaking records, and it hasn't even opened in the U.S. yet; it premiered in Tokyo in April, and opened in 16 Asian and European countries on Tuesday, bringing in $29 million dollars on its first day alone.Throughout Asia, the film opened bigger than the first and second films in the series; in some countries, it out-grossed the combined opening day of Spidey 1 and 2. And in some countries, the movie broke records for the biggest single-grossing day ever.