Europe: Economy
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Standard & Poor's decision to cut Spain's credit rating to one notch above junk status is weighing on markets, but analysts see a silver lining.
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The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.
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Greek industrial output rose in August for the first time since the country's debt crisis began, led by higher exports, data from statistics agency ELSTAT showed on Wednesday.
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Italy's government unexpectedly cut income tax rates for the country's lowest earners while promising to stick to the budget goals it has agreed with the European Union.
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French industrial output rose in August, bucking forecasts of a fall, largely due to a rebound in car sector production, the statistics office INSEE said on Wednesday.
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Britain must cut its budget deficit and fix its economy or face long-term decline, Conservative Prime Minister David Cameron will say on Wednesday, seeking to convince voters that his austerity plan is the only way forward.
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French riot police fired teargas to disperse protesters outside the Paris auto show on Tuesday as people marched nationwide to denounce hardship and job losses in a country where unemployment is at its highest since 1999 and economic growth has stopped.
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Investors should double the amount of gold they hold as the value of paper currency diminishes along with the prospects for global economic growth, said a senior executive at Coutts, the private banking arm of Britain's Royal Bank of Scotland.
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European Aeronautic Defense and Space Company (EADS) and BAE Systems called off the world's largest defense and aviation merger on Wednesday, and sources close to the talks blamed Germany for wrecking the $45 billion deal.
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The International Monetary Fund urged European policymakers to deepen the financial and fiscal ties within the euro area with some urgency to restore sagging confidence in the global financial system.
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Europe’s troubled single currency is dividing the continent into warring factions, which could end in a “democratic…or violent revolution” between indebted countries and creditor nations, a prominent European lawmaker told CNBC Tuesday.
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German Chancellor Angela Merkel arrived in Athens on Tuesday wearing apparently the same lime green jacket in which she celebrated Germany's defeat of Greece in the 2012 European Football Championship.
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Hopes are high that Singapore will agree to give German authorities information on assets held in the country by wealthy German citizens.
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Former Italian prime minister Silvio Berlusconi said on Tuesday he may not stand in elections next spring and suggested that technocrat premier Mario Monti could stay on as head of a centre-right government.
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British Prime Minister David Cameron said on Tuesday he would not soften his austerity program with a "Plan B" of slower spending cuts after the International Monetary Fund downgraded its growth forecasts for Britain.
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EADS rejected a German news agency report that merger talks with BAE Systems had collapsed and confirmed progress between Britain and France over the deal.
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A referendum on Britain's ties with the European Union would be the best way of agreeing a fresh settlement with the 27-member bloc, Prime Minister David Cameron said on Tuesday, as pressure mounts within his party for a vote.
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Moody's Investors Service on Monday slashed Cyprus's government bond ratings three notches to B3 from Ba3, citing the country's weakened banks as a key driver in the downgrade.
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German Chancellor Angela Merkel offered words of support in Athens on Tuesday, even as new data showed Greece's debt situation was worsening and as two former government ministers told CNBC, Greece would have to restructure its debts yet again.
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Euro zone finance ministers believe that Spain's budget cuts should take into account its weak economy, Spain's economy minister said on Tuesday, adding Madrid would work to limit economic recession.