Financial information company Markit said its purchasing managers' index, a broad gauge of business activity, was 53.9 points in April. Overall, Markit said the survey points to quarterly economic growth of 0.4 percent in the first quarter of the year, in line with expectations. "The fact that the rate of growth failed to gain further momentum is a disappointment,...» Read More
Silvio Berlusconi’s administration has lost sovereignty and its lack of credibility has hit Italy’s reputation abroad, according to former European Competition Commissioner Mario Monti.
Germany is showing more commitment to the resolution of the euro zone debt crisis, and is likely to expect even greater influence on the fiscal discipline of its neighbors in return, analysts told CNBC.
Following a dramatic end to the trading week that saw Italy pledge to speed up its austerity measures, the European Central Bank decided this weekend it had to act.
The crisis threatening to envelop Spain and Italy is moving faster than euro zone policy makers can keep up with, William Rhodes, senior advisor at Citigroup, told CNBC Monday.
European stocks are expected to follow Asian markets and US futures lower at the open following Friday’s downgrade of US government debt by S&P but losses are likely limited by hopes the ECB will this morning move to buy Italian and Spanish debt.
After the Dow Jones fell by 500 points on Thursday, European indices also faced a sell-off at Friday's open.
Following Thursday’s dramatic 500-point fall in the Dow and losses overnight across Asia, Europe’s stock markets opened sharply lower Friday but recovered some of their losses mid-morning.
We are approaching a “trouble Triangle” of problems that require the European Central Bank (ECB) to act swiftly to resolve them or risk a deep economic contraction, according to Ralph Silva, a Director at research group SRN.
The European Central Bank is not worried about the health of the euro zone as a whole and it will stick to its role of fighting inflation, ECB president Jean-Claude Trichet told CNBC in an interview Thursday.
July's rate hike could well have been Jean-Claude Trichet's last as president of the European Central Bank, but markets will be watching for signals that the bank is preparing to take some role in future interventions in European markets, economists and analysts told CNBC.com.
European stocks are expected to recover some of the losses made earlier this week at the open as investors focus on the ECB’s reaction to the recent sharp rise in Italian and Spanish bond yields.
In an interview with CNBC at the end of May the boss of Unicredit, Federico Ghizzoni, played down fears over Italian government debt and claimed his country's problem was not a huge external debt but a lack of growth.
Following a late selloff on Wall Street Tuesday and more losses for Asia on Wednesday, European stocks are expected to open sharply lower at the start of trade.
Markets are likely to keep up the pressure on Italy and Spain and the European Central Bank seems to be the only authority that could act quickly, analysts told CNBC.com Tuesday.
Progress on the Greek government's structural reform program has been "impressive" and could succeed in reducing the country's debt to GDP (gross domestic product) ratio to sustainable levels, the Organization for Economic Cooperation and Development (OECD) said Tuesday.
Developing markets will make up half of the world's biggest liquor maker's revenue in the next three years, as their consumption is rising while in some developed states consumers are suffering, the CEO of Diageo, Paul Walsh, told CNBC on Tuesday.
Amid signs that the European debt crisis -- which already has seen Greece, Ireland and Portugal seek aid from the European Union and International Monetary Fund -- is now spreading to Italy, analysts at Goldman Sachs are predicting that while painful, debt consolidation will succeed as soaring borrowing costs force governments to act.
As the world waited for news on whether the House would pass the debt ceiling deal on Monday, stocks in Italy came under heavy pressure with the country's banks again seeing heavy losses.
The UK economy will grow slower in 2011 than previously anticipated – 1.3 percent, compared to forecasts of 1.7 percent – and its 2012 growth will be a "modest" 2.2 percent, according to the Confederation of British Industry (CBI), an influential business organization.
European stocks are expected to open in positive territory on Monday following news that U.S. congressional leaders have backed a deal to raise the debt ceiling which will be voted on in Washington later today.
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