WELLINGTON, July 6- The euro fell sharply on Monday in Asia-Pacific trading after Greeks looked to have overwhelmingly rejected austerity measures demanded in return for bailout money. "Europe either folds or Greece goes bankrupt; over to you Merkel." The next step was unclear with Greek Prime Minister Alexis Tsipras saying his government had a mandate to reach...» Read More
Contrary to popular belief, bankers and politicians are not to blame for the financial crisis. Rather, it’s systemic flaws in the very nature of democracy that allowed financial imbalances to take root.
Car makers are hoping to battle a global downturn and Europe’s debt crisis with a series of new models and technologies at the Paris Motor Show this week, in the expectation that it will help boost flagging sales.
Australia may be gripped by fears its mining boom is ending, but HSBC believes extraction industries will continue to power the Australian economy
Stock markets across Europe returned to September’s rally on Thursday, despite well-publicized unrest on the streets of Greece and Spain.
The fallout from the euro zone debt crisis will continue to hurt the region for the next decade, accountants Ernst & Young have warned.
European Central Bank President Mario Draghi has said he will do “whatever it takes” to defend the euro and Ben Bernanke’s Federal Reserve has gone to infinity and beyond in an attempt to revive the U.S. economy, but a growing number of market watchers are beginning to doubt unconventional monetary policy will actually work.
Spanish share prices tumbled nearly four percent on Wednesday, as investors worried whether the European Central Bank and its partners have sufficient resources to rescue the ailing Spanish economy.
Greece may be in flames, but its stock market is doing quite nicely. In fact, the gains so far this year have outpaced those in many financially stronger countries—especially China.
The listing of Russia’ largest bank Sberbank on the London Stock Exchange, raising some $5 billion, is just the beginning of a wider trend and shows how Russian state-owned businesses are increasingly turning towards privatization, Anton Karamzin, deputy chairman and CFO of Sberbank, told CNBC.
Violent protests erupted on the streets of Athens on Wednesday. They could help the Greek government make its case for less stringent bailout conditions to its international creditors.
The biannual Paris Motor Show kicks off on Wednesday, with carmakers eager to show off the latest technologies to help them compete in a market that is looking increasingly crowded.
While financial markets remain focused on Spain, analysts are touting ex-Yugoslav Slovenia as another candidate to tap the euro zone’s new bailout fund, the European Stability Mechanism (ESM).
European Central Bank President Mario Draghi said on Tuesday that EU governments, not the central bank, must take “fundamental” measures to solve the region’s debt crisis.
Chinese growth is set to stabilize in the coming months and will slow to 6 percent in the next decade, according to new research from Barclays.
Governing like a mafia boss, obsessed with power and the source of the euro zone’s misery – not the usual epithets ascribed to German Chancellor Angela Merkel. But these are latest to be leveled at her by Gertrud Höhler, author of “The Godmother: How Angela Merkel is Reconstructing Germany”.
Greek officials vehemently refuted weekend reports that the country will fail to qualify for further international aide until the country closes a 20 billion euro budget gap.
Euro zone leaders have been trying to keep the currency union intact, but some—including a high school teacher from Bavaria—say a better solution lies in local currencies, an idea that is now being pitched to Greek politicians.
The euro zone’s latest bailout fund hasn’t even come into existence yet, and there are already high-level discussions about whether it can be leveraged to more than $2.6 trillion - more than five times its planned lending capacity.
As gold prices hit a 2012 record of $1,787.40 per ounce on Friday, Bank of America Merrill Lynch analysts told CNBC the precious metal could soar to $3,000 or even $5,000 over the longer-term.
The move by Bank of America and Nomura to shed large numbers of jobs is just scratching the surface of a redundancy wave that is set to hit the banking sector, Simon Maughan, financials sector strategist at Olivetree Financial Group, told CNBC on Friday.