Anthimos Thomopoulos, CEO of Piraeus Bank, says non-performing loans will peak this year as recovery in the Greek economy takes place.» Read More
José Sócrates, Portugal’s prime minister, has blamed an increase in government bond yields on “speculative movements”, saying growing pressure on the country’s borrowing costs had no economic justification. The Financial Times reports.
If Bush-era income tax cuts are extended and the deficit grows, the dollar could be further weakened — a prospect that worries U.S. allies and trading partners, the New York Times reports.
Investors disappointed with the yield on government bonds should look to good-quality companies with strong dividends such as Deutsche Telekom and Nestle, Robin Griffiths, technical strategist at Cazenove Capital, told CNBC Monday.
Germany is pushing to let hopelessly indebted governments do exactly that — admit they can't pay and hit bond investors with the costs instead of taxpayers.
The World Trade Organization, the EU and the United States said Tuesday they were pressing for solutions to concerns China may be exploiting its stranglehold on rare earth metals, crucial in the making of everything from portable phones to wind turbines.
The dollar may be set to rise as currency wars bring more controls on flows of capital and a rise in protectionism, David Bloom, currency strategist at HSBC, told CNBC.
The European Central Bank should worry less about the “phantom risk” of inflation and instead focus on the rising threat of deflation which could result from a currency war, economist Nouriel Roubini said in an article for Roubini Global Economics clients.
In France, the response to the government’s plan to raise the retirement age from 60 to 62 has sparked nearly a week of national strikes and protests. Click for photos.
The European Commission is preparing for a smoking ban across the European Union, with legislation introduced as early as next year, according to several media reports Tuesday.
Ireland has opened the door to a renegotiation with senior bondholders of its two nationalized banks despite previously opposing any such move. The FT reports.
A small rise in inflation may trigger a correction for the bond market, as too many investors have piled in, Roman Scott, managing director at Calamander Capital, told CNBC Monday.
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Europe faces an important challenge in creating greater awareness of the importance of a stable currency, but to achieve that goal, its citizens will need to grow more attached to the euro, Otmar Issing, former European Central Bank chief economist, told CNBC.
German car maker BMW said Friday it will recall 198,000 cars in the US because of potential problems with the brakes while press reports put the total number of vehicles recalled across the world at 345,000.
The parliament pushed through legislation that in effect grants a tax amnesty to millions of citizens, in a move at odds with organizations overseeing the country’s bailout, the FT reports.
Looking to rev up slumping sales in the beleaguered golf industry, Callaway announced today a strategic partnership with automaker Lamborghini in the quest to find the strongest, lightest and most durable materials.
If a global double dip happens, the downside on corporate junk is much more daunting than it is for sovereign debt.
Cramer doesn’t think so, but don’t be surprised if you see headlines trumpeting that message very soon.
New EU banking regulation must focus on institutions’ individual business models, rather than simply their size, Jacques de Larosière, co-president of think tank Eurofi told CNBC.
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