ATHENS, Aug 4- Both Greece and its lenders said on Tuesday they were optimistic they could broker a deal within days on a multi-billion euro bailout, striking a surprisingly upbeat tone on a process previously fraught with bitterness. A bailout worth up to 86 billion euros must be settled by Aug. 20-- or a second bridge loan agreed-- if Greece is to pay off debt of 3.5...» Read More
A growing number of economists predict the European Central Bank’s rate-setting committee will vote to cut interest rates again at Thursday’s meeting.
Investors had one eye on the start of the earnings season in the U.S., but strategists said Europe's own earnings season could throw up a few surprises.
With scant prospect of a swift return to growth in the Euro zone, the risk in 2013 is less outright conflagration in the single-currency area than a fraying of social and political ties and an insidious erosion of hope.
The economies of the United States, China and much of the developing world have decoupled from Europe, leaving it to wallow in various stages of recession and fiscal disarray.
Europe's largest financial institutions, which have been readjusting since the onset of the 2008 financial crash and the sovereign debt crisis that followed, are causing pain all over the globe that will have long term implications, according to analysts. They argue that the situation will only worsen without the proposed European banking union.
After a heavy bout of stock market pessimism and a long term rally in the bond markets, analysts say that the new year could spell danger for sovereign bonds in Europe's core and a shift back to equities could be on the cards.
The much-maligned peripheral economies of the euro zone are showing some encouraging signs, leading to talk of a revaluation which would have seemed optimistic for most of last year.
The slowdown in euro zone factory activity deepened in December as new orders tumbled, a business survey showed on Wednesday, suggesting the economy may have slipped further into recession in the last quarter of 2012.
Italian Prime Minister Mario Monti has announced he is heading a new campaign coalition made of up centrists, businessmen and pro-Vatican forces, paving the way for his possible return to office.
Italy's borrowing costs rose slightly at the first auction for long-term debt to be settled in 2013 as thin trading and worries over the U.S. budget weighed on peripheral bonds.
Shoppers in euro zone nations battered by years of recession and crisis are on the hunt for bargains, delaying their purchases until the last minute, or simply not buying at all as post-Christmas sales get underway.
The worst of the euro zone sovereign debt crisis is over, German Finance Minister Wolfgang Schaeuble said in an interview to be published on Friday.
The resurgence of German soccer began, like the country's economic comeback, after a long slide toward stagnation amid dire prophecies of impending irrelevance.
Hong Kong's de facto central bank said it is investigating possible misconduct by UBS over its submission of interbank rates, raising the possibility that the bank could face another fine a day after it agreed to pay $1.5 billion for its role in the Libor scandal.
Political resistance and potential court challenges are among "very large" risks to reforms for Greece's bailout program, the country's lenders said on Monday.
UBS AG is expected to be hit with a $1 billion-plus fine to settle charges of rigging Libor interest rates this week.
By 2050 there will be 9 billion people in the world — 2 billion more than there are now. That will mean strong long-term demand for farm equipment, the Agco CEO told CNBC this week.
The fiscal cliff may be the least of the U.S.'s long-term worries. Events are conspiring to prompt investors to lose their appetite for U.S. assets.
The Swiss government said it was cautiously optimistic for the economic outlook assuming the euro zone debt crisis does not again escalate even as it trimmed its growth forecast for 2013 to 1.3 percent.