Roger Myerson, professor of economics at teh University of Chicago and 2007 Nobel Prize Laureate, says Europe needs to "fundamentally" rethink its banking regulatory environment.» Read More
The European Union stepped up to level the biggest single fine against a company when it slapped Microsoft with a $1.35 billion penalty for anti-trust and anti-competitive behavior, and for not complying with earlier rulings to curb these kinds of practices.
The European Commission fined Microsoft a record 899 million euros ($1.35 billion) on Wednesday for defying sanctions imposed on the software giant for antitrust violations, far exceeding the original penalty.
The European Commission will announce later Wednesday that it will fine Microsoft for failing to comply with a 2004 antitrust order, sources close to the EC told CNBC Europe.
Euro zone services growth sprang back from a 4-1/2-year low in February, above forecasts, challenging the case for an imminent European Central Bank rate cut, a survey showed on Friday.
The impact of the turmoil in the international financial markets on Romania is likely to be limited, as the country enjoys robust economic growth and private lending is still at low levels, Economy and Finance Minister Varujan Vosganian told CNBC.com on Thursday.
Canada's Thomson won European regulatory approval Tuesday to buy news and information provider Reuters Group but must sell off financial research units to eliminate antitrust concerns, the European Commission said.
Europe's biggest states recognised the independence of Kosovo on Monday, ending hours of suspense after Prime Minister Hashim Thaci assured his new republic that Western recognition would come "any minute".
The European Central Bank is likely to keep its title as the last inflation hawk standing at its rate-setting meeting Thursday, but as fears of a global economic slowdown grow, calls for easing will only increase.
Euro zone service sector growth slowed sharply in January from an already weak estimate and retail sales fell in the key Christmas period, according to data on Tuesday that stoked fears of a recession.
Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.
ECB President Trichet appears to shun an interest rate cut in favor of fighting inflation, contributing to another round of selling in global stock markets.
The turmoil in the mortgage markets has incited a wave of legal tangles, as homeowners are suing lenders, lenders are suing banks, banks are suing loan specialists. And investors are suing everyone.
Finance ministers from Europe's top four economies called on Thursday for greater market transparency, full disclosure of losses and better coordination among supervisory bodies in response to the global credit crunch.
Five months on, finance ministers from Europe's four largest economies headed to Paris on Thursday to discuss an international response to the credit crunch that struck last August and continues to plague the global economy.
There are downside risks to euro zone growth and the European Central Bank will remain flexible on interest rates, Governing Council member Yves Mersch was quoted as saying on Wednesday.
The European Commission raided some of the world's largest drugmakers on Wednesday, launching a broad investigation into whether they made illegal deals or abused patents to limit competition and harm consumers.
Investors should raise their exposure to agricultural commodities and buy into stocks in the sector, as demand from emerging markets increases and the size of arable land is shrinking, putting additional pressure on the already tight supply, analysts said Friday.
This is a timeline of the European Central Bank's rate decisions for 2007.
Euro zone economic growth rebounded more strongly than previously estimated in the third quarter of 2007, revised data showed on Wednesday, thanks to higher growth in France and Belgium.
With more voices adding every day to the chorus predicting the world's biggest economy will go into a recession, diversifying away from U.S. stocks is a healthy strategy, analysts told CNBC on Monday.