WASHINGTON— President Barack Obama banned new investments in Crimea on Friday, slapping sanctions on the peninsula that Russia annexed from Ukraine earlier this year. Obama signed an executive order Friday that imposes economic restrictions similar to sanctions imposed by the European Union on Thursday. In a letter to the House and Senate, Obama said the...» Read More
Nasdaq Chief Executive Bob Greifeld said Wednesday that shareholders in Nordic bourse operator OMX would benefit from a linkup with the U.S.-based exchange, enabling the combined company to expand its business with Russian and eastern European companies.
Russia nominated former Czech premier and central bank chief Josef Tosovsky on Wednesday to run the International Monetary Fund, but the Czech government immediately disowned his candidacy.
The European Central Bank on Tuesday allotted 275 billion euros ($370.3 billion) in 7-day refinancing operations, at an average interest rate of 4.09%.
Kazakhstan threatened on Tuesday to revoke an Eni-led consortium's permit to exploit the giant offshore Kashagan oilfield due to environmental law violations.
Poland's Gdansk shipyard, the birthplace of the anti-communist Solidarity movement, has submitted a last-ditch rescue plan to the European Union to prevent its closure.
The euro zone's foreign trade surplus soared more than expected in June from the previous month, data showed on Tuesday, as exports grew twice as fast as imports despite a strong euro.
The European Central Bank is still likely to raise the interest rate in September, as it had previously signalled, despite the turmoil in financial markets, Trevor Williams, Chief Economist at Lloyds TSB Corporate Markets, told "Worldwide Exchange."
France's economy minister and the head of the country's biggest listed bank, BNP Paribas, met on Friday to discuss the U.S. subprime mortgage crisis, which has affected some of BNP's funds.
The European Commission will review a voluntary code used by credit rating agencies as they appeared too slow in warning about problems in the U.S. subprime mortgage sector, a spokeswoman said on Thursday.
European Union regulators on Thursday set a Sept. 19 deadline to approve bids from a consortium led by Royal Bank of Scotland for Dutch bank ABN Amro Holding.
Annual inflation in the 13-nation euro zone currency area eased to 1.8 percent in July to stay well within the European Central Bank's target area even though economists expect it to raise interest rates next month.
Deutsche Telekom will cut more jobs when a self-imposed moratorium expires at the end of 2008, the company said Wednesday.
Euro zone economic growth slowed far more sharply than expected in the second quarter as industrial production stalled in June, data from the European Union's statistics office showed on Tuesday.
The European Central Bank lent banks 73.5 billion in extra funds on Tuesday, topping up their coffers for one week to help ease tensions in the euro-zone credit markets.
The European Central Bank on Monday injected another 47.67 billion euros ($65 billion) into the banking system in a bid to soothe rattled credit markets, but said that market conditions are "normalizing."
The European Central Bank made a second move to boost liquidity in the financial market Friday, putting 61.05 billion ($83.6 billion) into the euro money markets, having already injected 94.8 billion euros Thursday.
The European Central Bank injected 94.841 billion euros ($129.74 billion) into euro-zone money markets on Thursday to help calm to jittery markets roiled by credit problems.
General Electric won EU approval Friday to sell its plastic division to petrochemicals manufacturer Saudi Basic Industries for about $11.6 billion.
The European Central Bank kept its core lending rate at 4% Thursday, as widely expected, but a hike in September was signaled. The Bank of England also held steady, leaving rates at 5.75%.
Intel slashed prices below cost and gave huge rebates in an illegal attempt to drive its smaller competitor out of the market, the European Union said on Friday in charges against the world's largest chipmaker.