The emissions cheating came from Volkswagen's headquarters in Wolfsburg, Germany, not the U.S., Matthias Mueller said Tuesday.» Read More
The financial sector fueled a rally in European shares on Friday, which scored their third weekly gain, after U.S. jobs data suggested the world's largest economy was proving more resilient than expected.
Deutsche Bank suffered its first quarterly loss in five years on Tuesday as global financial turmoil heaped 2.7 billion euros ($4.2 billion) in writedowns on Germany's biggest listed bank.
I have been covering the credit crunch since around 8:30 cet on August the 9th 2007 when BNP Paribas was forced to announce problems at 3 of their biggest funds. Producing Squawk Box I remember Alchemy Partners Jon Moulton telling Geoff Cutmore that this would be just the start and he was right.
The disparity between U.S. and euro zone interest rates is starting to cause problems, French Economy Minister Christine Lagarde told CNBC Monday, adding that Europe’s rampant inflation will ease.
With the US heading for recession, the European Commissioner for Economic Monetary Affairs could be forgiven for lauding the strength of the European economy when he unveils his spring economic forecast on Monday.
German corporate sentiment fell more than expected in April as firms' assessment of both current economic conditions and the business outlook deteriorated, a closely watched survey showed on Thursday.
Shares of German lender IKB jumped more than 16 percent Wednesday. The company said late Tuesday it expected a smaller full-year loss than previously expected.
More than a quarter of US employers expect more of their high-skill positions to be shipped overseas.
Wage and fiscal policy in the euro zone could buoy inflation and the European Central Bank may need to act on interest rates, ECB policymaker Axel Weber said in a newspaper interview released on Saturday.
Surging energy and food prices pushed euro zone inflation to a new high of 3.6 percent in March, boosting the euro to a record high against the dollar on fading chances of a ECB rate cut in the near term.
Deutsche Bank is looking to sell as much as $20 billion in leverage debt, while Credit Suisse could write down another $5 billion, according to published reports over the weekend.
European stocks ended lower for the third straight session on Thursday but well off the day's lows as strong gains on Wall Street sparked a late recovery, eclipsing fears of more asset writedowns in the banking sector.
The European Central Bank kept rates on hold at 4 percent, as expected, on Thursday, sticking to its mandate to fight inflation at any cost. Economists now think the possibility of monetary easing is more likely as late as the fourth quarter.
Germany's RWE and Britain's Centrica have made indicative bids for British Energy, valuing the nuclear power firm at up to 11 billion pounds ($22 billion), sources close to the matter said.
Wall Street banks are the first to be blamed for the credit crunch. Central banks come a close second, but as the Federal Reserve's image is suffering, the European Central Bank looks as solid as a rock.
The European Central Bank's mission to fight inflation prevents it from worrying about economic weakness. But an abrupt slowdown could anger politicians and endanger the central bank's very mandate.
Niche companies, such as alternative energy or unconventional products, are becoming more attractive as stock markets volatility continues, Alexis Dawance, fund manager at Global-Cap, told CNBC Europe.
European shares snapped a two-day winning streak to end Tuesday 1 percent lower, led down by banks on persistent worries of more losses from a global credit crisis, and by weakness in technology shares.
The European Union is unveiling plans Monday to allow passengers on flights in European airspace to use mobile telephones.
A breakup of Swiss bank UBS would not be possible at the moment but it should be thoroughly restructured to bring it back on course, Luqman Arnold, chairman of investment company Olivant and former president of UBS, told CNBC Europe.