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A twenty-five percent plunge in oil prices might seem to make curbing the supply of crude a no-brainer for the world’s oil producers. And yet it looks increasingly possible that the 161st ordinary meeting of OPEC in Vienna this week could end in a virtual stalemate
As the countdown draws to a close for the start of OPEC’s deliberations in Vienna on Thursday, two of its heavyweight members could once again clash over critical policies at a time when the cartel is struggling to maintain its influence.
European officials shouldn’t be surprised if their latest unveiling—a rescue plan for Spain’s troubled banks—fails yet again to impress markets or resolve the continent’s crisis.
Time after time during the European debt crisis, grand plans aimed at drawing a line under the problem have appeared to be behind market expectations. That may be changing.
Collective action in times of panic is what governments are supposed to do. CNBC's Steve Liesman argues it's time for the US to take the lead in this effort.
G7 finance ministers will on Tuesday hold a conference call to discuss concerns over Spain and its financial system amid fears that if left unchecked, a run on its banking industry could spread to other euro zone nations.
As data from China and the U.S. showed the global economy slowing sharply, the head of the World Bank warned that the summer of 2012 is looking like an “eerie” echo of 2008, when a collapse of the U.S. mortgage market led to the collapse of Lehman Brothers.
Recently the government announced it was raising rents on public housing around 10 percent, but giving a free month to offset that.
Christine Lagarde, the managing director of the International Monetary Fund, has rarely been out of the headlines this week – and on Tuesday a storm erupted on the Internet over the news that she pays no tax on her salary.
Seven years ago I was handed a mobile device and told, by CNBC’s then-head of operations, not to break it. It was grey, it was ugly, it was my first BlackBerry, and I loved it.
Stocks just about managed to snap a three-week losing streak on Friday but the FTSE is still down nearly 7 percent for this month; selling at the beginning of May would have been a very smart move. For now it's hard to see how asset markets won't continue to be held hostage by uncertainty surrounding a possible Greek exit. And that uncertainty is continuing to feed into poorer economic numbers as witnessed by the Eurozone PMI's and German IFO numbers.
With concern growing about the future of the euro zone, analysts are now debating ideas that were considered unthinkable.
Ever wondered why European politicians appear so calm when attending summits in Brussels or G8 meetings despite all the talk of a “Grexit” and economic Armageddon?
If a deal is going to be struck that avoids a Greek exit from the euro zone and restores confidence in the currency bloc, it is going to have to be big and convincing to markets. As one UK politician put it last week, the German Chancellor needs to fire a “Big Bazooka” if she is to save the euro zone from its current crisis.
How much interest would you want back if you lent to huge amounts of money to someone on an unsecured basis, and if that person had unaudited accounts and a history of playing dirty when the chips are down?
Hong Kong residents have been complaining about the rising cost of living, especially the fare hikes for the Mass Transit Railway, but are the complaints justified?
French President Francois Hollande may have his differences with German Chancellor Angela Merkel, but Europe’s two most powerful leaders have agreed in principle to forge a growth strategy for Europe in time for next month’s European Union heads of state summit.
Euro zone finance ministers are calling talk of a Greek exit from the euro zone simply “propaganda,” even as the market awaits news on whether Greek politicians can agree to form a new government and meet its commitments to the European Union and International Monetary Fund.
“It sounds spectacular. However, this is the move that we have already seen twice over the last 80 years,” said Philippe Gijsels of BNP Paribas Fortis.
Huge protests in Madrid, firebombs hitting tax offices in Italy, and voters in Northern Germany showing their anger toward an incumbent leader. Just another weekend in euro land, where the chances of economic recovery and political agreement on how to get there appear less likely by the hour.
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