SAN FRANCISCO, United States- Federal Reserve Chair Janet Yellen speaks on "Monetary Policy" before the Federal Reserve Bank of San Francisco Conference: The New Normal for Monetary Policy- 1945 GMT. PRISHTINA- European Central Bank's Deputy Director General International& European Relations, Gilles Noblet, speaks at an event to celebrate the conclusion of a...» Read More
The world economy is on the verge of a new and deeper jobs recession that will delay the global recovery further and may spark social unrest in "scores of countries," the International Labor Organization said on Monday.
As last week's euro zone rally was followed by falls across the board Monday, with one strategist saying that the "real problem" is yet to come.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
European stocks were expected to open lower on Monday after Asian shares dropped overnight following a close to 10 percent rally last week on news that the euro zone will implement a number of measures to resolve its sovereign debt crisis.
Too many European Union leaders did not understand the gravity of the Greek debt situation following years of failure to adhere to rules on borrowing, the outgoing boss of the European Central Bank told CNBC.
Fitch ratings agency says Greece's credit grade will remain low even after its debt load is cut as part of a European plan to fight the financial crisis.
Following Thursday's much-anticipated euro zone deal, investors are looking again at stocks although a rally in Europe petered out at mid-day.
Austrian bank Erste announced on Friday that it had drastically reduced its credit default swaps (CDS) portfolio and that it would close it by the end of the year, after valuing it based on what it would be worth in the market - known as marking to market - earlier in the month.
European stocks were expected to open higher on Friday as stocks continue a rally sparked by the announcement Wednesday of a plan to resolve the euro zone sovereign debt crisis.
The deal that allowed Greece to renegotiate its debt will not lead to a credit event on the scale of the Lehman Brothers failure that triggered the US financial crisis, the lead negotiator in the talks told CNBC.
The European debt crisis is worrisome but it is unlikely to pose a danger to major banks on the continent, Michael H. Tomalin, CEO of the National Bank of Abu Dhabi, told CNBC.
In the computerized world of markets, it’s not every second that counts – it’s every micro second.
European stocks opened higher on Thursday after European leaders agreed to boost the region's bailout fund and struck a deal with private bondholders that they would take a 50 percent haircut on Greek government debt.
A deal that imposes 50 percent losses on private sector bondholders means Greece's debt burden will be sustainable, Greek Prime Minister George Papandreou said on Thursday.
As the prospect of a conclusive road map for the euro zone emerging from Wednesday's European Union summit receded, proposals to expand the European Financial Stability Facility (EFSF) via a special purpose investment vehicle (SPIV) were met with cynicism.
European stocks were called to open lower on Wednesday, following Asia overnight where shares fell ahead of a crucial meeting of European policymakers which some analysts fear will not bring forward a lasting plan to ease the sovereign debt crisis in the euro zone.
As European leaders ready themselves for another summit on the euro zone crisis, one economist said that the critical situation in Greece should be dealt with by focusing on growth instead of debt.
The countries that will have the most success in weakening the real value of their currencies "are likely to flourish better or at least suffer less than others," author Andrew Smithers wrote.
European stocks were called to open lower on Tuesday, a day ahead of a second summit of European leaders where a deal is expected to be reached over the nature of a plan to resolve the sovereign debt crisis in the euro zone.
The market for luxury goods has come back with a bang in the past couple of years, despite volatility elsewhere in the market.