The managing director of the IMF, Dominique Strauss-Kahn, was taken off an Air France plane in New York on Saturday and arrested in the sexual attack of a maid at a Midtown Manhattan hotel, the authorities told the NY Times.
European stocks are expected to open higher despite a negative session in Asia anb following another volatile trading session for commodities on Thursday.
The debt crisis facing the developed world is big and will take a generation to resolve, Angel Gurria, Secretary General of the OECD, told CNBC Thursday.
Europe’s recovery is on track, but reform of the financial services sector and strong policy action to improve the fiscal health of EU member states is needed in order to prevent future crises, the International Monetary Fund has said.
European stocks were indicated to open lower as a fresh selloff in commodities hit stocks in the US and Asia.
The boss of French banking giant BNP Paribas has told CNBC that he sees no risk of contagion from the problems facing Greece, Portugal and Ireland.
Following a dramatic couple of weeks for those holding gold, HSBC has told clients the precious metal is ‘bound to rebound’ and that they could use the losses as a buying opportunity.
European shares were indicated to open higher, after overnight gains on Wall Street and in Asia and despite persistent comments that Greece will need fresh money from the European Union.
Italy is next in line to seek a bailout from the European Union and the International Monetary Fund as a 'slow-motion banking crisis' unfolds in the country, Felix Zulauf, President of Zulauf Asset Management said.
The plan to deal with the euro zone debt crisis and avoid restructuring before 2013 is failing, Willem H. Buiter, Chief Economist at Citi Investment Research and Analysis said on Tuesday.
Europe should help countries that are in trouble but these countries need to show that they are tackling their deficit problems themselves, like Britain has done, UK Chancellor of the Exchequer George Osborne told CNBC in an interview Tuesday.
As far as Europe’s real economy is concerned, the problems on the periphery are just that, peripheral, according to Credit Suisse’s Robert Barrie.
European stock market futures pointed to a slightly higher open after Wall Street closed Monday slightly up on the back of commodity related news and China posted its highest trade surplus in four months in April.
Restructuring Greece’s debt is both desirable and inevitable, despite insistence from European Union officials over the weekend that the idea is off the table, reports the New York Times.
Last week spelt the end of the inflation story and this is a reason to be bullish. That is the view of UK-based Michael Browne, a fund manager at Martin Currie.
Speculation over the weekend that Greece could leave the euro zone was “utterly unrealistic" and would be a “catastrophe” for the country and for the wider European Union, Yiannos Papantoniou, former Greek finance minister and president of the Centre for Progressive Policy Studies told CNBC on Monday.
The boss of the French banking giant has told CNBC that the European banking sector could absorb a restructuring of Greek debt, whatever form it took.
European stocks pointed to a lower open on Monday as initial optimism faded off the back of US non farm payroll figures on Friday and concerns re-emerged about the European sovereign debt crisis.
The fall in commodity prices is a good thing for the fight against inflation and from the point of view of the recovery, European Central Bank President Jean-Claude Trichet told CNBC in an interview Friday.
An improving labor market will offset the impact of higher oil prices and underpin stocks according to Kevin Gardiner, the head of global investment strategy at Barclays Wealth in London.