France's highest appeals court ruled that Christine Lagarde must stand trial for her role in a 400 million euros payout as French finance minister. » Read More
Euro zone price pressures are "alarmingly high," threatening medium-term price stability, and first quarter growth in the bloc could exceed expectations, European Central Bank officials said on Friday.
French President Nicolas Sarkozy and British Prime Minister Gordon Brown called on Thursday for banks to declare the full extent of the damage to their operations caused by the credit crunch.
French President Nicolas Sarkozy will ask British Prime Minister Gordon Brown for help in getting Washington to prop up the ailing dollar, but Britain has usually shunned managing exchange rates.
Alitalia's board will discuss extending talks with unions on its takeover by Air France-KLM, a company source said, as the French carrier's promise to soften the blow on workers met with approval from major unions.
Air France-KLM offered to continue talks with unions on its deal to buy Alitalia beyond a March 31 deadline and promised a new plan on job cuts, a union official said, signaling its first concessions in talks so far.
Stricken German lender IKB got another $700 million of taxpayers' cash to bolster itself amid more subprime writedowns, exasperating politicians who said it should get no more state help.
The European Central Bank lent euro zone banks an extra 15 billion euros on Thursday to tide them over the Easter holiday period, although banks bid for four times as much.
China's Ping An Insurance Co deepened its ties with Belgian-Dutch financial group Fortis on Wednesday by buying half its asset management business for 2.15 billion euros ($3.4 billion).
The rise of the euro towards $1.60 threatens bankruptcies in Europe's aerospace industry, the head of France's Dassault Aviation, maker of Falcon business jets and Rafale fighters, said on Tuesday.
European Central Bank Executive Board members stressed on Tuesday the role of the ECB as a guardian of price stability, giving the strong euro only scant mention.
Financial trading and interbank lending almost ground to a halt on Monday as banks grew fearful of dealing with each other following Friday's near collapse of U.S. investment firm Bear Stearns, prompting talk of another round of coordinated central bank aid.
Euro zone inflation hit a new record high of 3.3 percent in February, the European Union's statistics office said, with soaring oil prices taking their toll despite the cushion of a strong euro.
An employee of Societe Generale has been freed by police, the day after he was arrested in connection with a probe into a rogue trading scandal at the bank, the Paris prosecutor's office said.
European Central Bank President Jean-Claude Trichet said disorderly swings in currencies were undesirable, according to an interview with a French magazine published on Thursday.
Police arrested another employee of Societe Generale on Wednesday as part of its inquiry into an alleged rogue trading scandal at France's second-biggest listed bank, the Paris prosecutor's office said.
The latest sovereign wealth fund move underlines hemes at this year's MIPIM: where do the value opportunities lie a year after the credit crunch started to take hold, and who will emerge as the new dominant players?
French bank Societe Generale said on Tuesday its 5.5 billion euro ($8.45 billion) rights issue was oversubscribed, providing a base for its battle to recover from a trading scandal.
The 28,000 delegates can now start to discuss the real issue of the day. Who will throw the most fabulous party? And more importantly: how the devil are they making enough money to pay for it?
European Central Bank President Jean-Claude Trichet said on Monday that the bank is currently concerned about excessive movements in currency exchange rates which are undesirable for economic growth.
We all expected the credit crunch to cast a shadow across the start of this year's MIPIM real-estate conference starting in Cannes tomorrow. But a literal storm was the immediate problem.