Europe: Economy
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Barclays PLC will buy the deposits, mortgages and business assets of ING Direct UK, as it looks to expand its retail operations and minimize exposure to a shrinking investment banking market.
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Billionaire Phil Anschutz has kicked off the auction of his Anschutz Entertainment Group, with an expectation that the sports and entertainment giant should draw bids in the $10 billion range, higher than previously believed, according to sources familiar with the situation.
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Ireland’s economy may have been improving since the end of June, but the Celtic tiger is not out of the woods yet, Cormac Leech, bank equity researcher at Liberum Capital, told CNBC.
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With its economy still reeling from the housing crash, Ireland is making a bold move to help tens of thousands of struggling homeowners, the New York Times reports.
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German Chancellor Angela Merkel flies into the heart of Europe's debt crisis on Tuesday, facing protests by angry Greeks to bring a message of support to a near-bankrupt nation fighting to stay in the euro.
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International lenders are considering giving Greece two more years to reach its budget deficit reduction targets, and the extra time could be financed without more money from the euro zone, Greek Finance Minster Yannis Stournaras said.
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Euro zone finance ministers delivered a united defense of Spain on Monday, saying the country was taking steps to overhaul its economy, funding itself successfully in the financial markets and did not need a bailout, at least for now.
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Italy’s A3 highway, begun in the 1960s and still not finished, starts outside Naples in the ancient hill town of Salerno and ends, rather unceremoniously, 300 miles farther south as a local street in downtown Reggio Calabria. The New York Times reports.
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Debt-swamped Greece braced for two days of strikes, protests and potential violence as German Chancellor Angela Merkel, long demonized for her tough-talking, austerity-minded approach to Europe’s deepening woes, prepared to visit the epicenter of the crisis, three years since it began here.
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Gainesville, Fla.: home of botanical gardens, a museum of natural history and one of the oldest universities in the state. But according to the latest global music piracy report, it can now add to its reputation the more ignominious title of music “pirate capital” of the world.
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Electronic glitches are simply a fact of life in modern fragmented markets and human error, not technology, is to blame for multi-billion dollar trading errors, Tanuja Randery, chief executive of MarketPrizm, told CNBC on Monday.
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As with many of the other improvised solutions to the euro zone’s problems, the bailout fund’s reality is less elegant than the theory behind it. The New York Times reports.
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It has been referred to as “the bazooka” — the 500 billion euro European bailout fund that after much dispute will have its first board meeting on Monday, the New York Times reports.
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A 500-billion euro ($650 billion) bailout fund, one of the key tools of policymakers trying to find a solution to the euro zone debt crisis, will be launched later on Monday with Spain expected to be the first country to seek help from the fund.
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With a four-year debt crisis and recession affecting many of its member countries, the European Union is turning to cloud computing to create 2.5 million new jobs and boost the region’s economy.
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Europe may be pushing for fiscal and banking union to fight its debt crisis, but many richer regions, angry at having to finance poorer neighbors, are now calling for independence. The New York Times reports.
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The unemployment rate decreased to 7.8 percent, because the number of self-employed jumped dramatically. With the economy growing so slowly many of these are likely workers laid off during the economic collapse who have established home-based businesses.
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Got some cash to spend? How about a piece of the Greek islands of Rhodes or Corfu? Or a royal palace, a marina, or even a consulate building?
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World food prices rose in September and are seen remaining close to levels reached during the 2008 food crisis, the United Nations' food agency said on Thursday, while cutting its forecast for global cereal output.
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Better late than never. After a string of delays, and having overcome a constitutional obstacle in Germany, the euro zone’s new rescue fund, the European Stability Mechanism, looks set to be finally inaugurated on Monday, the Financial Times reports.