The Swiss bank announced plans to cut around 10,000 jobs and close its fixed income business after a trading scandal and a quarterly net loss of 2.2 billion Swiss francs ($2.4 billion).
Hurricane Sandy may inflict a negative hit to demand for crude oil and fuel products as production at U.S. East Coast refineries comes to a standstill, reducing demand for the primary input.
The U.K. economy may have just exited recession by posting its strongest quarterly gross domestic product growth in five years, but according to a recently published book, the U.K. will have a third world economy by 2014.
Despite huge efforts to keep the euro zone afloat, business leaders now believe that some of the region’s most troubled countries are riskier places to invest than war-torn nations in the Middle East or North Africa.
As former prime minister Silvio Berlusconi threatened to withdraw crucial support for the country’s technocrat government - a move that could result in early elections — economists are questioning whether Berlusconi could destabilize the country’s economic reforms.
CNBC's Kelly Evans reports on all the market moving events from Europe, as the hurricane emergency in the U.S. forces markets to stay close.
US money market funds have increased their exposure to eurozone banks, in the latest sign of returning confidence in the stability of Europe’s monetary union.The FT reports.
Concerns are growing that Britain is laying plans for what political and financial pundits have dubbed “Brixit,” a variant on “Grexit” — Greece’s departure from the euro zone. The New York Times reports.
Former Prime Minister Silvio Berlusconi said on Saturday his center-right bloc may withdraw its support from the government of Mario Monti, a move that could throw Italy into political chaos ahead of next April's national elections.
Investors have been faced with major worries this year: the euro crisis, the U.S. "fiscal cliff", and China's slowdown—so it might seem counter-intuitive that markets just posted their best performance in five years.
CNBC's Simon Hobbs reports EU stocks closed mixed following a better-than-expected U.S. GDP report.
The yen gets a break and oil prices take down the loonie — it's time for your FX Fix.
CNBC's Ross Westgate reports on all the market moving events from Europe, as corporate earnings weighed on investor sentiment.
Gone are the days when investment banks looked only for the numerical whiz kids to help them in their investment decisions; now, they use psychologists to get a better insight of how investors’ minds and the markets work.
Escalating numbers of Europeans now rely on food aid according to the Red Cross, which says failing welfare services and high unemployment mean nobody knows who may need to ask for help next.
In the past couple of years, as the eurozone woes have unfolded, international investors have been transfixed by one small country on the edge of the region: Greece. They would do well to keep watching another tiddler: Finland. For while Finland has not created much drama, precisely because it is one of the strongest eurozone members, some fascinating discussions are under way, the FT reports.
It’s a timeless question: how do you fund a start-up when you have no capital? But for entrepreneurs in the U.K. funding has become especially harder to find since the credit crisis.
CNBC's Kelly Evans discusses European woes weighing on the markets, saying the European story is bad for multinationals and much worse for Europe.
Shane Oliver, Head of Investment Strategy and Chief Economist, AMP Capital says South Korea's small third-quarter gain is still good news since it means the country is avoiding a recession.
If you really want to preserve the euro, this think tank says, look south.