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Euro zone leaders are expected to come up with a substantive plan to solve the area’s crippling debt crisis by the time of the G20 leaders summit in Cannes on Nov. 3. At the back of every investor’s mind is the thought that we could be setting ourselves up for a big fall.
A slight clammy feeling. General anxiety. A sense that something is missing or out of place. Heightened frustration or even distress. These are the symptoms of BlackBerry withdrawal, and it’s now being experienced on a continent near you.
The “Occupy Wall Street” protest has been struggling to find an issue to occupy. One issue coming to the fore is student loans—the growing number of unemployed former students who borrowed money in search of the American dream and now find they can’t afford to pay it back. Call it buyer’s remorse, they made a mistake and want their loans “forgiven”.
Europe has too many broken banks and the time has come to fix them. With Dexia's problems laid bare, it must now be apparent to even the most myopic politician that the European Banking Authority's 2011 stress tests were a complete failure, writes CNBC's Guy Johnson.
When chancellor of the exchequer, George Osborne, got up to speak at the Conservative party conference on Monday, he knew he had to tread a fine line between optimism that the British economy could recover and wasn’t going to fall into a "double-dip" recession, versus facing down calls from the Liberal Democrats to ease public spending cuts and those on the right of his own political party calling for an end to the 50p tax rate at the very least.
Excuses, excuses followed by more excuses. When is the broader asset management industry going to put its hands up and say; "We were wrong," or "We really don’t know what we are doing," or even, "I’m going to fall on my sword, sell my five houses on the Wentworth Estate and distribute the proceeds among those foolhardy enough to believe I could make them money"? The answer of course is NEVER!
After watching the politicians cause havoc for investors for the last three months, can we hope at all that things will be any different in the fourth quarter?
I've been to three European countries in three days and have not seen one newspaper headline on Greece, or the debt crisis. In fact, the topic when raised elicits yawns.
Just about a year ago this week, rumors started to circulate in the sometimes sleepy and boring world of municipal finance. The crisis talk went into overdrive, of course, when Ms. Whitney appeared on 60 Minutes andwarned that the $3 trillion municipal bond market faced the immediate threat of hundreds of billions of dollars in defaults.
As Shadow Chancellor Ed Balls wrapped up his speech to the Labour party conference on Monday, one thing became abundantly clear: Labour still have a trust issue when it comes to the economy.
This is a day Boeing workers have been working towards for five or six years. It's validation their hard work has paid off.
No time wasted. Only an hour after Sergio Ermotti was appointed interim CEO of UBS following Oswald Gruebel's decision to resign, the Swiss Italian banker, alongside Chairman Kaspar Villiger, addressed the media in a hastily arranged conference call.
What would you bring to London's Houses of Parliament when you came to gape at Big Ben? A broomstick? A plastic thumb? Or even an egg? These were all among the items confiscated from visitors to the Houses of Parliament in the first half-year of 2011.
It has been exactly one week since the $2.3 billion rogue trading scandal rocked Swiss banking giant UBS.
Frau Merkel lost another election. This time the one in the capital, in Berlin. That is, at least, the headline that tops most of the news on the outcome of this, the seventh regional election in Germany this year.
A bright graduate joins an investment bank, but not in the glamorous, fast-moving – and ultimately profitable - trading role that he wanted. Rather, he is put into the "middle office," managing the IT systems that keep the trading desks running. Eventually, though, he is given a break, joining the bank's "delta one" trading desk, playing arbitrage between cash equities and equity derivatives.
U.S. Treasury Secretary Tim Geithner will travel to Poland on Thursday for a meeting with euro zone finance ministers set for Friday and attempt to push them to show leadership and get ahead of the euro zone crisis.
News that Germany and France are ready to stand by Greece and avoid it leaving the euro helped stocks to rally following a conference call between Angela Merkel, Nicolas Sarkozy and Greek Prime Minister George Papandreou on Wednesday.
There are two major messages in statements released Wednesday night in Germany and France about their leaders' conference call with the Greek Prime Minister. The first is that the feet of Greece will be held to the fire on austerity—that Athens MUST deliver on spending cuts, tax rises and speedy privatizations.
One crisis meeting is hot on the heels of the other and our policy makers - central bankers, ministers, heads of state and government - jet stream around the globe, trying to "manage" the crisis, writes CNBC's Silvia Wadhwa.
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