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Inflation will remain above the Bank of England's 2 percent target in the U.K. for a long time, Andrew Sentance, a former member of the monetary policy committee, told CNBC on Tuesday.
European markets rose after Italy sold 6.0 billion euros of government bonds on Tuesday, in a sale which analysts said drew solid demand and with yields lower than at previous comparable auctions.
US futures point to Wall Street opening lower today despite a strong day yesterday. European shares are flat on Tuesday after rating agency Moody's put the United Kingdom's triple-A rating in jeopardy for the first time and warned it may cut France and Austria as well, while downgrading six euro zone nations including Spain and Italy. Asian shares also fell, reminding investors that Europe is still deeply mired in a debt crisis despite Athens' steps to avoid a disorderly default.
The European Central Bank's rescue of the region's banks by showering them with cheap loans could be creating the conditions for another financial crisis several years from now. The New York Times reports.
US stock index futures signaled a higher open for Wall Street on Monday, after Greek lawmakers voted a bill bringing more austerity to the country in order to ensure it gets a second bailout from the International Monetary Fund and the European Union. European shares also rose with the FTSE Eurofirst 300 gained 0.4 per cent as the banking sector added 1.2 per cent.
US futures point to a higher open for Wall Street. Banking shares led European stocks higher early on Monday after the Greek parliament approved measures needed to secure an international bailout and avoid a chaotic default that would dent market confidence in the euro zone. Asian shares also gained though most of the recent optimism appeared to have been already priced in.
Rupert Murdoch is under pressure over his Sun tabloid after the arrests of several senior staff in a corruption probe, but whistleblowers inside his media empire may pose more of a threat than the public outrage that towards his business empire that he was forced to give up his closed its sister paper.
A June 2008 e-mail to James Murdoch discussed in frank terms the scale of phone hacking at News International, The New York Times reports.
Stock index futures pointed to losses for Wall Street at the open after euro zone finance ministers withheld further aid for Greece and demanded more cuts in return for a second bailout. European shares also fell on Friday, dragged lower by banks.
S&P 500 futures point to New York stocks declining 0.5 per cent at the opening bell. European shares also fell today, dragged lower by banks on concerns about the outcome of the euro zone debt crisis after finance ministers imposed further conditions before approving a rescue package for Greece. Asian shares ended lower as investors remained concerned about Greece's commitment to debt restructuring.
For all the struggles that Greece has gone through to satisfy its demanding lenders, Europe’s troubles are not going away, the New York Times reports.
Stock index futures pointed to a flat open for Wall Street today as investors looked ahead to talks to secure a new bailout for Greece as well as a policy decision by the European Central Bank. In Europe, shares were higher in morning trade on hopes that a second bailout deal for Greece was in the making, with the country's finance minister on his way to Brussels for a meeting with other euro zone finance ministers.
More than a dozen traders and brokers in London and Asia have been fired, suspended or put on leave by their employers as a multinational probe into alleged manipulation of crucial global lending rates accelerates, the Financial Times reports.
Europe’s 20 richest football teams defied the continent’s financial woes to generate total revenue of $5.8 billion last season, according to a new report by business advisory firm Deloitte.
U.S. stock index futures pointed to a higher open for Wall Street on Wednesday, with investors positioning for a favorable resolution to the Greek sovereign debt crisis. European stocks rose in morning trade, breaking a two-day losing streak, thanks to a string of upbeat corporate outlooks and as investors bet that Greece will finally secure the bailout it needs to avoid a chaotic default.
Another batch of the riskiest mortgage-backed securities once owned by the American International Group are being auctioned off this week, according to two people familiar with the matter, a sale that would bring the insurance giant’s 2008 meltdown once step closer to a resolution.
Stephen Hester has revealed that the dramatic restructuring of Royal Bank of Scotland has cost 38 billion pounds ($60.5 billion) in a rallying memo to staff days after the embattled chief executive waived a 1 million pounds bonus, the Financial Times reports.
Stock index futures pointed to a lower open for Wall Street Monday, tracking struggling European markets lower after a set of disappointing earnings from the likes of UBS, and with uncertainty over Greek debt talks still lingering.
US Futures point to Wall Street opening down by 0.1 percent. Shares in Europe were slightly lower as poor results by bellwethers UBS and ArcelorMittal rekindled worries about the outlook for corporate profits, though some companies gave a positive outlook for the current quarter. Greek resistance to the strict conditions attached to a bailout fund capped the recent strength in Asian shares, which ended mostly lower today, as renewed fears of a messy debt default gave pause to mounting hopes the global economy is improving.
Terrorists combining a cyber attack with physical violence are the biggest security threat facing the 2012 Olympics, a digital forensics expert told CNBC.