CNBC Franchise Archive Europe: Economy


  • WASHINGTON— Federal Reserve Chair Janet Yellen cautioned Thursday that global economic pressures pose risks to the U.S. economy but said it's too soon to know whether those risks are severe enough to alter the Fed's interest-rate policies. But she said the Fed thought it should study the issue again now that other central banks, including in Europe and Japan,...

  • BRUSSELS— Portugal's fellow states in the 19- nation eurozone are keeping a wary eye on its new government's plans to roll back budget austerity measures, with the bloc's top executive and Germany both warning the country not to miss deficit targets. Although Portugal has received conditional approval for its budget from the European Commission, German...

  • LONDON, Feb 11- Sterling fell to a 15- month low against a basket of currencies on Thursday, as investors fretted about slowing global growth prospects and their impact on the UK economy, with some pricing in risks of an interest rate cut in Britain. Interest rate markets are not pricing in a Bank of England rate hike until 2020. Sterling was down 0.5 percent against...

  • LONDON, Feb 11- Fears that the negative interest rates employed by a growing band of central banks could be doing irreparable damage to the financial sector are spurring a search for even more radical alternatives. The Bank of Japan has just become the latest central bank to join the sub-zero club, Sweden took its rates even deeper into negative territory on...

  • A trader works at Frankfurt's stock exchange.

    Our live blog is tracking a European sell-off after disappointing figures from the likes of Societe Generale.

  • WASHINGTON, Feb 11- International Monetary Fund chief Christine Lagarde has been nominated to a second term as the agency's managing director, the IMF said in a statement on Thursday. "Christine Lagarde has done an exceptional job leading the IMF for the last five years, guiding the Fund at a critical time for the global economy," U.S. During her tenure, Lagarde has...

  • WASHINGTON— Average long-term U.S. mortgage rates fell this week for the sixth straight week as markets around the globe continued the whipsaw trading that has marked this year so far. Mortgage buyer Freddie Mac said Thursday the average rate on a 30- year fixed-rate mortgage dropped to 3.65 percent this week, down from 3.72 percent last week and close to its low...

  • *306 billion euros held in 500 euro notes. FRANKFURT, Feb 11- The amount of cash across the euro zone rose to more than 1 trillion euros last year, with almost 30 percent of it hoarded in 500 euro notes, ECB data has shown, as nervous individuals keep more of their money at home or in a vault. Cash across the 19- country bloc climbed to 1.08 trillion euros at the end of last...

  • PARIS— Questions are growing over the financial health of banks, particularly in Europe and the U.S., as they face a toxic mix of low economic growth, bad loans and squeezed earnings. The bank saw its share price stumble 12 percent and major rivals like Deutsche Bank and UniCredit saw losses of nearly 10 percent. In the U.S., Morgan Stanley, Citigroup and Bank of America...

  • WASHINGTON— Fewer Americans applied for unemployment benefits last week in a sign of a stable job market despite the slowing global economy hitting stocks and commodities. THE NUMBERS: Weekly applications for jobless aid fell 16,000 to a seasonally adjusted 269,000, the Labor Department said Thursday. KEY DRIVERS: The domestic economy appears to have...

  • Meg Hillier, who chairs the Public Accounts Committee, captured the mood when she accused Google's Matt Brittin of having "tin ears" to the complaints about the 130 million pound deal for back taxes in Britain. The session tapped into a public zeitgeist of fury over multinational corporations that operate in Britain but have tax bases elsewhere.

  • Banco Popolare and Banca Popolare di Milano are ready to announce a merger to create Italy's No. 3 bank if regulators give the green light.

  • Europe stocks sell-off 13 Hours Ago
    Europe stocks sell-off

    CNBC's Louisa Bojesen reports European banks are pulling markets lower as SocGen leads financial stocks lower.

  • European banks selling off

    Dominic Elliott, Reuters Breakingviews, weighs in on the slide in global banks as investors become concerned over central banks' ability to control the economy and interest rates sit at historical lows.

  • SocGen shares sink on profitability

    CNBC's Nancy Hulgrave provides highlights from her interview with Societe Generale's CEO as shares drop sharply after missing expectations and setting aside 400 million euros to cover litigation costs.

  • Gartman: Selling will continue

    Dennis Gartman, The Gartman Letter, weighs in on the sell-off in global markets.

  • European banks getting slammed

    CNBC's Steve Sedgwick has the update on what's driving volatility in European financial stocks.

  • STOCKHOLM— Sweden's central bank, worried about a long period of low inflation, decided Thursday to cut its key interest further below zero to a record minus 0.50 percent— and didn't rule out further action. Describing it as a "uniquely low interest rate," Riksbank Governor Stefan Ingves didn't want to speculate on future measures but said that "unfortunately the...

  • Opportunities within EU markets

    GLG fund manager, Henry Dixon discusses his stock picks as volatility continues to shake up European markets.

  • There will be a buying opportunity for banks: UBS

    The market is still not comfortable with the normalization of interest rates, says Bill O'Neill, head of UK investment office at UBS.

Contact Europe: Economy


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