LONDON, May 6- U.S. and European Union regulators clashed on Wednesday over how to provide solid financial backing for the world's $630 trillion derivatives market and also avoid duplication of rules that would be costly for banks and other players. But the difficulty in getting agreement between the EU and the United States has held up the process.» Read More
Italy has a diversified, primarily industrial economy with roughly the same total and per capita output as France and the UK. In recent years, it has pursued a tight fiscal policy to meet the requirements of the European Union and has benefited from lower interest and inflation rates.
European markets closed firmly higher Tuesday, boosted by a rally in the U.S. and Asia and a further retreat by oil prices from record highs.
The European Court of Justice ruled illegal on Tuesday a German law that shields car maker Volkswagen from foreign takeovers.
Microsoft ended three years of resistance on Monday and finally agreed to comply with a landmark 2004 antitrust decision by the European Commission.
The major European indexes closed in the red Friday as fresh record highs in the price of oil and a soaring euro versus the dollar gave rise to economic concerns. Banking stocks were among the worst performers, with the Dow Jones STOXX banking index down 1 percent.
European Union leaders clinched final agreement on Friday on a treaty to reform the 27-nation bloc's institutions, replacing a defunct constitution and ending a two-year crisis of confidence in Europe's future.
Verbal discipline is key for the smooth functioning of currency markets, European Central Bank President Jean-Claude Trichet tells CNBC Frankfurt correspondent Silvia Wadhwa in an exclusive interview, a veiled plea to European leaders to stand by the ECB.
The Group of Seven meeting this month should focus on breaking down barriers to free trade rather than managing exchange rates, British finance minister Alistair Darling told Reuters in an interview on Wednesday.
A sprinkling of deal news, sinking oil prices and a firmer dollar are in the background as stocks edge higher Tuesday. The big news for markets though will come in the Federal Reserve's meeting minutes, set for release at 2 p.m. ET. The minutes of the September 18 meeting and the August 16 call will be released. Traders are watching for hints of what made the Fed take the aggressive step to slash the Fed funds rate by a half point, greater than the 1/4 point widely expected.
Mr. Euro -- or the late Wim Duisenberg -- would sympathize with Jean-Claude Trichet’s dilemma. Trichet is facing a hostile cabal of politicians from among the 13 euro-zone governments who want him to cut interest rates to take momentum out of the strengthening single currency.
The Fed and the start of earnings season are two big focuses for stocks Tuesday, after Monday's dullish session. The Fed releases minutes of its September 18 meeting and its August 16 call at 2p ET. This time last week, traders would have been digging into those minutes to find any confirmation of their view that rates will be cut again at the Fed's October 31 meeting.
Discussing leadership, motivation and career success with Jack Welch, former General Electric chairman & CEO.
Just as Airbus hoped to start selling its oft-delayed superjumbo as a success story, a report of "massive insider trading" at parent company EADS leaked to the media -- raising the question of whether the beleaguered company can ever get ahead of its problems.
The European Commission fined Visa 10.2 million euros ($14.45 million) on Wednesday for refusing to let Morgan Stanley join its payment card system in Britain.
European stocks closed broadly positive Tuesday after wobbling slightly following a larger-than-expected fall in U.S. pending home sales.
European stocks closed higher Thursday, with investors shrugging off a surprise drop in U.S. new home sales and weaker U.S. economic growth data.
European Central Bank President Jean-Claude Trichet said excessive swings in foreign exchange levels are not good for growth. Meanwhile, the ECB lent $5.5 billion at a punitive rate on Wednesday, figures show.
Retail sales growth in the euro region slowed in September, a survey of around 1,000 retail executives showed on Thursday.
The European Central Bank allotted 50 billion euros of three-month refinancing on Wednesday at an average rate of 4.63% -- the highest since March 2001 and evidence of continued tightness on the euro money market.
EU farm ministers fell short of a consensus agreement on Wednesday to allow imports of three genetically modified (GMO) maize types, again revealing their deep differences on GMO crops and foods, officials said.