Convinced that consumers are finally ready to shop online for Picassos in addition to Pez dispensers, Sotheby's and eBay are teaming up again. The NYT reports.» Read More
The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
European equities dropped on Wednesday, ending at their lowest close in 1-1/2 month as worries over the prospect of a U.S. recession rattled investors, while retail shares sank after Mark and Spencer's profit warning.
French media stocks jumped following a speech from French President Nicolas Sarkozy Tuesday in which he proposed banning advertising on public television channels. The loss of income would be replaced by a levy on the advertising revenue of private television channels, according to the plans.
Major central banks are satisfied with joint efforts to tame money market tensions around the turn of the year but will remain in close contact, policymakers said on Monday.
Euro-zone investors are the gloomiest in 2-1/2 years and their expectations for the next six months are the most pessimistic on record as the credit crunch continues to depress sentiment, a survey showed on Monday.
European shares fell nearly 2 percent on Friday in their worst sell-off in almost a month, as concern about the outlook for U.S. economic growth resurfaced after surprisingly weak employment data.
High oil prices, driving up the cost of transportation and other services, as well as spiraling food prices contributed to euro-zone inflation staying well above the target while Swiss inflation came in at a 12-year high, data showed on Friday.
European equities bounced from the day's lows to end with small losses on Thursday, as gains in U.S. markets and rising oil shares offset the impact of weakness in banks -- last year's worst performers.
European shares ended the first day of trading in 2008 on a negative note Wednesday, as worries over global growth -- exacerbated by evidence of a contraction in U.S. manufacturing -- overshadowed news of consolidation in the banking sector.
Shares in government-controlled Aeroports de Paris, operator of Charles de Gaulle and Orly airports, soared after French construction company Vinci SA said it had acquired a 3.3 percent stake.
European equities ended flat on Monday in thin trade as key markets stayed closed, with the region notching a slender gain of 1.5 percent in 2007, its worst performance since 2002 as a credit crunch whacked stocks.
European shares were broadly lower Friday, as weakness in banking stocks dampened investor sentiment, but U.S. stocks made firm gains at the open on the Wall Street.
European equities eked out gains for the fourth session in a row on Thursday in thin volume as energy shares took pole position on higher oil prices.
The European Central Bank is determined to stop increases in oil and food prices becoming entrenched in a broader inflation rise, President Jean-Claude Trichet said in a newspaper interview published on Monday.
Air France-KLM's bid for Italy's state-controlled airline, Alitalia, has triggered a frenzy of holiday lobbying by powerful opponents who want Rome to reject an offer they say harms national interests.
France's biggest retail bank Credit Agricole said on Thursday it would book a 2.5 billion euros pre-tax writedown in 2007 due to the credit crisis gripping global financial markets.
The euro zone had a higher-than-expected trade surplus in October despite a continued rise in the euro as exports grew faster than imports, the European Union's statistics office said on Tuesday.
British Prime Minister Gordon Brown will host German Chancellor Angela Merkel and French President Nicolas Sarkozy for a meeting in the first half of January on financial market stability.
Euro zone services grew at a slower pace than expected in December, as the banking sector stalled, signaling a slowdown in the single currency area, a key survey showed on Monday.