*Gold eyes strongest monthly gain since January. NEW YORK/ LONDON, Aug 31- Gold steadied on Monday, bouncing up from session lows as oil prices rallied and the U.S. dollar fell, after bullion felt earlier pressure on indications the Federal Reserve may still raise interest rates this year, despite recent market turmoil. "It was oil that sparked the short-covering,"...» Read More
Iceland's central bank said it planned to support the crown currency after it temporarily suspended its regular purchases from market makers.
Record high unemployment mean the European Central Bank has scope to lower interest rates in order to weaken the spiraling euro, ING Senior Economist Carsten Brzeski said.
The euro zone's embattled economy has turned a corner, according to a business survey on Tuesday that showed businesses are more optimistic about the future but highlighted a growing chasm between the region's economies.
Angela Merkel told Spain's Mariano Rajoy she had full confidence in his government's ability to push through reforms, brushing aside a growing corruption scandal.
Commerzbank, Germany's No. 2 bank, posted a larger-than-expected quarterly loss after a cut in its medium-term profit forecasts had a damaging effect on its tax accounting.
Peripheral European economies are paving the way for an earlier return to growth than forecast thanks to fast-growing exports and falling labor costs, Standard & Poor's said in a new report on Monday.
Euro zone factory prices fell for the second month in a row in December, mirroring the trend in consumer inflation and leaving room for a possible European Central Bank interest rate cut to revive the weak economy.
Central banking is in a state of flux as policymakers from Tokyo to Washington ditch prevailing orthodoxies to try to grab a bigger share of a slow-growing global economic pie.
French Finance Minister Pierre Moscovici on Sunday said the government believed it could reach its 2013 economic growth target of 0.8 percent.
Royal Bank of Scotland faces the prospect of scrapping all bonuses for its investment bankers this year to free up cash to pay fines for its involvement in a global interest rate rigging scandal.
Euro zone inflation fell to a two-year low as companies cut prices at a time of record joblessness, potentially giving the European Central Bank more scope to lower interest rates.
Banks will pay back another 3.5 billion euros next week of the emergency 3-year loans they took from the European Central Bank a year ago, further deflating the ECB's balance sheet after they paid back a whopping 137 billion euros this week.
Banks, retailers and many others may have suffered during Europe's downturn but the tobacco sector has remained rock solid during a time of weak consumer spending.
Germany's Dax index has risen 20 percent over the past year, reaching new five-year highs, even as the economy has slowed in recent months, but analysts say German stocks are still attractive because of the export potential of many of the companies.
When European leaders agreed last summer on a "growth compact" designed to pump more than two hundred billion dollars into the euro zone economy, it was hailed as modern-day Marshall Plan. The Global Post reports.
After a slowdown in the fourth quarter of 2012, Germany's economy seems to be getting back on track and some analysts now believe Europe's largest economy will go from strength to strength in 2013.
German retail sales tumbled by their largest amount in over three years in December, preliminary data showed on Thursday, denting hopes that private consumption can compensate for weaker exports and lift Europe's largest economy this year.
The euro hit a 14-month high against the dollar, some analysts believe the rally is set to continue as improved sentiment for the euro bloc takes hold.
Euro zone economic sentiment improved more than expected across all sectors in January, rising for the third time in a row in a sign the economy could be emerging from a low point in the fourth quarter of 2012.
Greece, Portugal and Spain are reversing the loss of wage competitiveness that was a significant cause of the euro zone crisis, the Conference Board said on Wednesday.