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Latvia's economy shed 19 percent of its value in the third quarter compared with a year earlier, the country's statistics agency said Wednesday, highlighting the woes in the European Union's worst economy.
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Romania's government has collapsed and its economy is in shambles but its presidential campaign has been dominated in recent days by a video that appears to show the president striking a 10-year-old boy in the face.
European heads of states appointed Baroness Catherine Ashton as the European Union's foreign-policy chief, the so-called first EU Foreign Minister, Thursday evening.
General Motors is already feeling the backlash of its decision not to sell European automaker Opel to Magna International, as workers in Germany went on strike. GM faces not just ire over American-European cultural differences, but worker unease at job security, European-style.
The International Monetary Fund and the EU have pumped billions of euros in Central and Eastern European countries, but their economies are still suffering.
Held at the iconic Somerset House in London's West End, the catwalk shows and exhibitions highlighted the UK's place in the global fashion landscape along with featuring new talent.
A handful of top Russian business figures have created an MBA program that tackles the issues they faced themselves: bribery, relentless bureaucracy, imperfect laws.
Young foreigners are coming to China to look for work in its unfamiliar but less bleak economy, driven by the worst job markets in decades in the United States, Europe and some Asian countries.
Lots of technical talk this morning on yesterday's weakness. RBC Capital Markets, in a note to clients this morning, noted that "An inability to make new highs into late September would be a significant negative for stocks well into Q4."
Latvia will continue to intervene to defend its fixed-rate currency as it has sufficient foreign exchange reserves to do so, Bank of Latvia governor Ilmars Rimsevics told CNBC in an exclusive interview Wednesday.
A strike by metro drivers wrought havoc on the streets of London, with thousands of commuters seeking alternative ways to get to work and overground traffic sometimes grinding to a halt.
The singe European currency may bring the end of the whole European Union, because its one-size-fits-all approach means countries on the "wrong" side of the economic cycle lose out, European MP Nigel Farage said.
The recent rally in stocks has run out of steam and there are no reasons for it to come back, two analysts told CNBC Thursday.
The results of the stress tests on 19 of the biggest US banks have left European banks exposed, as they now look vulnerable to recapitalization needs and to claims that not all checks were made to ensure rules were being followed, analysts said on Friday.
European hog farming is being transformed by an agricultural powerhouse operating in far-flung outposts.
Austrian bank Erste Group sought Thursday to dampen fears that it faces heavy losses in Eastern Europe as it reported a 26 percent fall in first-quarter net profit as provisions for bad loans increased.
Designers emphasized the importance of fashion meaning something during the current recession and suggested consumers will focus on uniqueness and affordability which is what they offer.
Swedish bank Swedbank reported Thursday a first-quarter net loss, disappointing analysts' expectations for a profit, due to large provisions for loan losses in its hard-hit Baltic operations.
Chancellor of the Exchequer Alistair Darling predicted that the economy would contract at a rate of 3.5 percent in 2009, with a fall of around 1.6 percent in the fourth quarter.