BRUSSELS— The European Union is warning Russia that interfering with gas deliveries to Ukraine to apply political pressure would backfire by damaging its reputation as a reliable supplier for the EU.» Read More
European shares were indicated higher Monday, expected to reverse some of last week's losses after the European Union agreed an 85 billion euros ($113 billion) bailout for Ireland at the weekend.
According to a statement released by the Irish government, the country will take €10 billion immediately to boost the capital reserves of its banks. Another €25 billion earmarked for the banks will remain in reserve.
An Irish government minister said he expects an agreement on an EU-IMF bailout loan for Ireland worth approximately €85 billion ($115 billion), but he rejected reports that the aid would carry a punitively high interest rate.
While the market pullback isn't even in the realm of a correction, worries that Europe's debt crisis could hurt the global economy are weighing on what otherwise could be a robust rally.
European shares are expected to retreat on Friday after gains in the previous two sessions, with persistent concerns about euro zone debt problems and Chinese inflation seen putting pressure on the market.
Ireland is actually in a better economic position than other struggling euro zone states, Chris Watling, managing director at Longview Economics, told CNBC Thursday.
Abu Dhabi Commercial Bank is suing Credit Suisse and credit rating agency Standard & Poor's, alleging it was misled over a 2007 investment that went sour.
European shares were set to open higher on Thursday, adding to gains in the previous session, and after Wall Street rose on upbeat economic data.
Nations are left with old playbooks and fewer choices by which to resolve their respective problems. This means that time, devaluations, and debt restructurings might be the only way out for many nations. It also means the citizenry will require politicians that can think outside of the box and act with greater unity and resolve than perhaps they are used to.
Things are getting better in the long term when it comes to the banks and Europe, H. Rodgin Cohen, senior chairman at the law firm Sullivan & Cromwell, told CNBC Wednesday.
What if the European Union broke up—and nobody bothered to tell you about it? Well, some are speculating that it has already happened.
Ireland faces an uphill struggle to survive the turmoil currently plaguing it, and the rest of Europe will need to stand by the country if it wants to avoid the debt crisis spreading further across the region, Mohamed El-Erian, CEO and co-CIO of Pimco wrote in a commentary piece for the Financial Times on Wednesday.
JPMorgan Chase is close to axing plans to build a £1.5 billion ($2.4 billion) European headquarters in Canary Wharf, opting instead for the former UK premises of Lehman Brothers, reports the Financial Times.
The surprisingly upbeat mood of German shoppers could have big implications for Europe. The Financial Times reports.
Financial bookmakers expect to see Europe's top indexes rising on Wednesday, with resource-related shares finding support in rising metal and commodity prices.
The Irish government is poised to take a majority stake in Bank of Ireland, which will leave the Republic without a single significant lender independent of state control.
Yesterday, we blasted the Bazooka Theory at work in the European Union's bailout of Ireland. Today the Wall Street Journal provides even more evidence of the stupidity of the theory:
Japan will be forced to take austerity measures similar to those embarked upon in many European countries, but Prime Minister Naoto Kan’s five-month-old government has so far failed to take decisive action to get Japan’s economy back on track, Tobias Harris, author of "Observing Japan" said.
Portugal is bracing for an increase in speculative trades against it as some investors expect it to be the next European nation to need a bailout now that Ireland is taking a massive loan to prop up its banks.
European stock index futures pointed to a lower open on Tuesday, as investors were rattled by mounting tensions in the Korean peninsula.