In an interview with CNBC at the end of May the boss of Unicredit, Federico Ghizzoni, played down fears over Italian government debt and claimed his country's problem was not a huge external debt but a lack of growth.
Following a late selloff on Wall Street Tuesday and more losses for Asia on Wednesday, European stocks are expected to open sharply lower at the start of trade.
German retail group Metro saw sales grow only marginally in the second quarter, led by its emerging markets business, as weak consumer spending in Western Europe weighed on its results.
Progress on the Greek government's structural reform program has been "impressive" and could succeed in reducing the country's debt to GDP (gross domestic product) ratio to sustainable levels, the Organization for Economic Cooperation and Development (OECD) said Tuesday.
Developing markets will make up half of the world's biggest liquor maker's revenue in the next three years, as their consumption is rising while in some developed states consumers are suffering, the CEO of Diageo, Paul Walsh, told CNBC on Tuesday.
Amid signs that the European debt crisis -- which already has seen Greece, Ireland and Portugal seek aid from the European Union and International Monetary Fund -- is now spreading to Italy, analysts at Goldman Sachs are predicting that while painful, debt consolidation will succeed as soaring borrowing costs force governments to act.
As the world waited for news on whether the House would pass the debt ceiling deal on Monday, stocks in Italy came under heavy pressure with the country's banks again seeing heavy losses.
The financial markets don't know which way to look. On either side of the Atlantic we have a debt disaster that would on its own be a recipe for short fingernails or worse. But despite Monday's headlines, it is Europe that presents the far greater risk to the global economy.
European stocks are expected to open in positive territory on Monday following news that U.S. congressional leaders have backed a deal to raise the debt ceiling which will be voted on in Washington later today.
Should the return from a government bond should always sit below that of a bank asset? The almost universal answer to this question is yes, but this is not always the case, writes Moorad Choudhry, Head of Business Treasury, Global Banking & Markets, Royal Bank of Scotland.
Spain’s government called early elections for November 20 on Friday, putting the country's economy, which has already come under speculative attack by bond investors, back in the spotlight.
European stocks are expected to fall sharply at the open on Friday, following the rebel Republicans' refusal to back a budget plan proposed by congressional leaders
BASF CEO Kurt Bock told CNBC the firm's results were "solid and robust" in the current climate, despite falling short of analysts' expectations.
European stocks were expected to open lower on Thursday, adding to losses from Wednesday's session which was dominated by fears over the US debt ceiling.
Sales at Bayer, the German pharmaceuticals company, rose 5.4 percent to 9,252 million euro ($13,282 million) in the second quarter.
Italian bank shares were sharply lower in Wednesday morning trade after Reuters reported German Finance Minister Wolfgang Schaeuble said the euro zone's rescue fund should only purchase bonds on the secondary market in exceptional circumstances.
European stocks were indicated to open slightly lower on Wednesday as investors kept a close eye on attempts to get agreement on the US debt ceiling and ahead of a raft of corporate earnings.
On Tuesday, investors started to wonder if bullish bets on global growth might be premature after UPS voiced caution about economy.
The euro zone economy is recovering at a growth rate which is "above potential", albeit "not very strongly", European Central Bank Executive Board Member Lorenzo Bini Smaghi told CNBC on Tuesday.
Investors are unlikely to take up in sufficient numbers the voluntary swap scheme set up by the euro zone for Greek bonds because they will be tempted to sell at the higher prices found at the short-end, investment bank JPMorgan says.