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CNBC's Rick Santelli talks with Daniel Stecich, TJM Institutional Services, about consumer debt in Europe.
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Market expectations that the European Central Bank will cut interest rates fail to consider the dangers of higher inflation, ECB Governing Council member Axel Weber said on Wednesday.
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The euro's exchange rate is shaped by the market but excessive volatility is unwelcome, EU Economic and Monetary Affairs Commissioner Joaquin Almunia said on Wednesday as the euro hit record highs against the dollar.
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The week started and finished with news of the nationalization of British troubled bank Northern Rock, ending a five-month period of uncertainty about the bank’s future. In between, results from banks caused investors ecstasy or agony.
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Volatility will continue to be the name of the game in European stock markets next week, as jittery investors fear more surprises from the banking sector, analysts said on Friday.
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Major European brewers showed mixed results this week, as capricious weather, smoking bans and one-off charges hit profits but sales in emerging markets boomed.
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Dutch navigation device maker TomTom roughly doubled its device sales in the fourth quarter and its gross margin fell less than expected even as it expanded its share in the competitive U.S. market.
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Deutsche Post Chief Executive Klaus Zumwinkel is being investigated for suspected tax evasion, a source close to the investigation said on Thursday as police raided his home and offices.
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Banks are a good long-term investment, but in the short and probably medium term fears of further writedowns will still send shockwaves through the market, analysts said on Tuesday.
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Shares in Dutch banking group ING fell by as much as 6.5 percent on Tuesday on market talk of large writedowns, traders said.
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European stocks ended lower across the board Monday, with banking and insurance stocks suffering the worst of the selling. Warnings of further financial turmoil from G7 finance ministers at the weekend contributed to the session’s bearish sentiment.
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The European Central Bank kept its main rate on hold at 4 percent as expected on Thursday, despite mounting pressure for an easing in monetary policy to help avert a global recession.
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Telecoms group KPN gave an upbeat three-year outlook on Tuesday as it reported quarterly results that matched forecasts, adding its Dutch business will return to growth after doubling job cuts.
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Dutch chemical group Akzo Nobel said on Thursday it expected 2007 revenues of 10.2 billion euros ($15.10 billion), reassuring investors about its coatings unit performance and lifting its shares.
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Oil giant Royal Dutch Shell posted record European company earnings of $27.6 billion in 2007, but fourth-quarter profit missed forecasts as a fall in production dampened the benefit of high oil prices.
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Key European leaders are calling for greater transparency in world financial markets, meeting Tuesday in London to discuss how they can rescue the turbulent global economy.
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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.
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Euro zone services growth slumped significantly below forecasts to a rate not seen in over four years this month, but manufacturing growth remained unchanged from December, a key survey showed on Wednesday.
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Philips Electronics plans to sell most of its stake in flat screen maker LG.Philips LCD as early as this year, the Nikkei business daily reported on Wednesday, quoting the president of Philips.
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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.
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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.