*EU producers allege dumping by China. PARIS, Feb 6- Seven countries including France, Britain and Germany have urged the European Union to step up action to relieve an ailing steel industry suffering from tumbling prices and cheap imports from China and Russia. Europe has lost 85,000 steel jobs since 2008, over 20 percent of the workforce, according to the...» Read More
Moody's is punishing the wrong EU member by downgrading Ireland, Wilbur Ross Jr., CEO of WL Ross & Co., told CNBC Wednesday. If Moody's "downgrades enough people recklessly, nobody will be able to access the public markets in 2013. I think it's a ridiculous idea."
Euro traders are relieved and margin traders in Japan are not. It's time for your FX Fix.
As the crisis in the peripheral area of the euro zone threatened to drag Italy down further on Wednesday, the majority of the region now faces further contagion.
The Irish economic recovery has been held back by credit ratings agency Moody's downgrading its rating to junk status, Minister for Jobs, Enterprise and Innovation Richard Bruton said Wednesday.
Finding a solution to the euro zone crisis is such a complex task that investors, as well as many citizens of the European Union, have grown disgruntled with attempts to sort out the debt.
Wealthy Americans, who are expected to increase their spending on luxury items by 8 percent to $359 billion this year, are no longer embarassed at flaunting their wealth despite an economic slowdown which has caused hardship on many who have lost their jobs, David Arnold, publisher of luxury magazine the Robb Report told CNBC.
Experience suggests European politicians will struggle to agree on a deal that would actually draw a line in the sand of the entire euro zone debt crisis. Many blame their indecision for getting the euro in this position in the first place.
In the euro zone, the fiscal crisis is lapping on Italy’s shores. In the US, the administration declares it will run out of funding early next month if the debt ceiling is not raised. Far fewer Europeans than Americans believe public sector defaults are beneficial, according to the FT.
Italian bond yields are up, stocks are down, and Prime Minister Berlusconi is vowing quick passage of an austerity plan. But the real problem is the euro.
Euro Zone finance ministers met yesterday and released a statement overnight that created headline. Also, there have been a slew of comments coming from the individual finance ministers, which have generated larger moves in the financial markets as pessimism about a cure have increased.
The euro takes a beating and the trade deficit dents the dollar - time for your FX Fix.
Weighing in on which country will be the next Greece based on Euro zone crisis fears, with Subodh Kumar, Subodh Kumar and Associates and Kevin Ferry, Kronus Futures Management.
European banking stocks fell sharply Tuesday before starting to rebound, with Unicredit and Deutsche Bank among the top losers, on fears that sovereign debt crises in peripheral euro zone countries might spread.
European authorities need urgently to increase the size of resources available to indebted European countries faced with liquidity problems if they want to avert disaster, Willem Buiter, Chief Economist at Citi told CNBC on Tuesday.
Italy's family savings will keep the country from defaulting, Alessandro Capuano, head of Italian desk at IG Markets, told CNBC Tuesday.
European bank stocks are now trading like technology stocks did before the bust of the early 2000s, Peter Toogood, Director of Investment Services at Old Broad Street Research, told CNBC Tuesday.
Greece is heading for default, or at least a devaluation, and European Union (EU) leaders have to adopt a "plan B" to stem contagion to the rest of the bloc, billionaire investor George Soros said on Tuesday.
The Euro zone finance ministers are having a critical debt crisis meeting today. They are trying their best. But the situation is difficult and complex, both from a financial and political perspective.
The ongoing crisis in the euro zone is creating a trading opportunity among safe-haven currencies, this strategist says.
Inflation bites in China, Italy and Greece sting the euro - it's time for your FX Fix.