BRUSSELS, Aug 27- Google, the world's most popular Internet search engine, rejected on Thursday European Union antitrust charges that it abused its market power, saying they lacked any economic or legal basis. "Economic data spanning more than a decade, an array of documents and statements from complainants all confirm that product search is robustly...» Read More
In 10 months, the Dollar Index has lost 14% because the world keeps accumulating dollars it doesn’t want and sells them. Asian central banks are key.
Stress tests on European Union banks this year will use tougher criteria for measuring capital than last year, according to details released by the European Banking Authority Friday.
Marc Faber, editor and publisher of "The Gloom Boom & Doom Report," discusses the world economy and the amount of paper being printed by central banks. His preference, as a result, is gold. Faber adds that in the current environment, cash and bonds are dangerous. Everything is going up, he says. Only at the Federal Reserve is there no inflation.
Spain has avoided a costly run on its debt even as its closest neighbor, Portugal, has been forced to ask the European Union for help to help fund its debt burden. But one analyst remains skeptical the Spanish are out of the woods just yet.
What Mervyn King, governor of the Bank of England, called the Nice (“non-inflationary, consistently expansionary”) decade has vanished. In its place, we see what I would now call the Nasty (“nightmare of austere and stagflationary years”), the Financial Times reports.
European stocks were indicated to open higher on Friday as the euro nears a 15-month high against the dollar.
Just because the European Central Bank raised interest rates today to stave off inflation, don't expect the Fed to take a similar tack with U.S. rates, these strategists say.
The US government is careening towards a shutdown as Democrats and Republicans can't agree on a 2011 budget plan. I believe a shutdown will occur.
Portugal throws in the towel, the Bank of England holds steady, and the European Central Bank tightens its purse strings — it's time for your Eurocentric FX Fix.
Discussing whether the ECB is jumping the gun and the Fed is lagging, with Keith McCullough, CEO, Hedgeye Risk Management. For places like Portugal, Greece and Ireland, he says, things will end badly.
CNBC's Rick Santelli reports on the weekly jobless claims number, which fell to 382,000. Steve Liesman provides analysis and discusses whether the ECB rate decision will stick. Jim Iurio, Institutional Services, discusses, as well.
CNBC's Silvia Wadhwa reports from Frankfurt on the expected rate hike by the ECB. Many see it as a warning that countries have to be responsible for getting their own fiscal houses in order. And John Harwood reports on a new NBC-Wall Street Journal Poll. Also, a look at the weather forecast for The Masters in Augusta, Georgia.
After months of speculation, Portugal last night accepted what many had claimed has been inevitable since the fourth quarter of 2009 and went cap in hand to the European Union as its borrowing costs became unsustainable following another big jump in yields.
European stocks were indicated to open slightly lower on Thursday ahead of interest rates decisions by the European Central Bank and the Bank of England, as well as news that Portugal will seek financial aid from the European Union.
Commerzbank on Wednesday presented a plan to repay 14.3 billion euros ($20.3 billion) of the 16.2 billion euros of state aid by June.
European stocks were indicated to open slightly higher on Wednesday, following positive but muted trade in Asia.
The euro has been trading as if there is no such thing as a sovereign debt crisis, and that decoupling is overdone, this strategist says.
Guy Monson, a fund manager at Sarasin, has called the two-year rally in stocks and stayed true to his bullish views despite the wall of worry.
European stocks were indicated to open slightly lower on Tuesday, following lackluster trade in both Asia and the U.S.
With conflicting statements from several FOMC members last week, all eyes are on the Federal Reserve's actions this week for a clue to the dollar's direction.