Jim Cramer considers next week to be the playoffs of earnings. Brace yourself for some serious action! Here are the stocks to watch.» Read More
I am writing this in Munich airport, yet again waiting for another delayed flight. Getting around Europe these days by aircraft is a frustrating business. Planes are full and aircraft movements appear to be overwhelming the ability of both the airlines and the air-traffic controllers to keep schedules. This notwithstanding the 'flexibility' of departure times already built into the timetable.
German lender IKB Deutsche Industriebank, whose near failure amid the subprime mortgage crisis sent shockwaves through Europe's financial sector, forecast its full-year loss could reach almost $1 billion.
The credit market squeeze helped to drive growth in euro zone corporate borrowing to a record high in August, figures showed on Thursday, as some firms found that their usual funding channels had dried up.
BMW, the world's largest premium carmaker, aims to sell significantly more than 2 million vehicles a year by the end of the next decade and earn up to a 10% return on sales before interest and tax at its core automotive division by 2012.
Credit markets eased Wednesday, not from any big improvement in underlying conditions but because the U.S. Federal Reserve is expected to throw moral hazard concerns to the wind and cut rates again in October.
Drug maker Bayer said Tuesday that it will delist its shares from the New York Stock Exchange this week, a move the company said would save it $21.2 million per year.
The asset manager of Belgian-Dutch financial group Fortis said on Tuesday it would buy a Tokyo-based asset managing firm wholly owned by Germany's Commerzbank to expand its operations in Japan.
European stocks closed mixed under the weight of the impact of the global credit turmoil on the banking sector and with scattered good news from other sectors.
1st paragraph of story should go here
Troubled British mortgage lender Northern Rock has taken legal advice about whether to pay out a 59 million-pound (US$119 million) dividend to shareholders, the Financial Times said on Monday.
Three leading hedge funds are planning a break-up of beleaguered British bank Northern Rock, according to a newspaper report on Sunday.
The European Central Bank needs to look at the impact of the high-flying euro when it meets next month and draw the appropriate lessons, French Finance Minister Christine Lagarde said on Friday.
Norwegian Petroleum and Energy Minister Odd Roger Enoksen has resigned, the prime minister's office said on Friday without naming his replacement.
The current financial turmoil will translate into banks' profits rising more slowly and fewer buybacks, while disclosure rules need to be tightened, Gordon Scott, managing director of financial institutions at Fitch Ratings, told "Squawk Box Europe."
The European Commission said on Tuesday it was monitoring events at British mortgage bank Northern Rock but it was too early to say whether guarantees pledged by the British government to worried depositors amounted to illegal state aid.
German investor confidence suffered a bigger-than-expected drop for the fourth consecutive month, a closely watched survey showed Tuesday, pushed down by sustained worries over the U.S. subprime mortgage crisis and how that could affect Europe's biggest economy.
Commerzbank is bracing itself for a higher-than-predicted loss from investments related to risky U.S. mortgages that are set to knock a hole in profits, sources familiar with the matter told Reuters.
The global credit crunch may force banks to take back up to 1.2 trillion euros ($1.66 trillion) in debt on their balance sheets if investors are unable to refinance it, the Dutch Central Bank (DNB) said on Monday.
The euro zone's trade surplus was smaller than expected in July, unadjusted data showed on Monday, but exports continued to grow more quickly than imports.