Paris would “have a card to play” as a new European financial hub should Britons vote to quit the 28-country union, leading players in the city’s financial scene told CNBC.» Read More
UK inflation hit a two and a half-year high Tuesday and experts are saying it is only a matter of time before it goes even higher.
The sight of Dominique Strauss-Kahn, managing director of the International Monetary Fund and prospective candidate for the French presidency, doing the "perp walk" was stupefying. If the charges are true, this capable man is a lunatic. But, unless the case collapses, the event will cast a long shadow, according to the FT.
The gravitas that the IMF needs to hold when walking into a nation's finance ministry or central bank and demand sacrifice for the social good is diminished by the allegations regarding the personal conduct of its managing director, according to Carl Weinberg, the chief economist at Capital Economics.
Whatever the outcome of the accusations of rape made against Dominique Strauss Kahn at the weekend, Marine Le Pen leader of France’s Front National was almost certainly right when she said that it marks the end of his campaign — or pre campaign — for the French Presidency.
The Queen visits Ireland Tuesday in what will be the first state visit there by a UK monarch since her Grandfather, George V, visited the then UK colony in 1911, but the event is clouded by threats from Irish dissidents.
The British government is considering deleveraging its shares in state-owned banks Lloyds’ Banking Group and Royal Bank of Scotland (RBS) by issuing stock to every taxpayer in the country, it emerged on Monday.
Rates can only go up when we believe the consumer can deal with them and that means when some of the pressures have started to ease.
BP is back in last-ditch talks to buy out the Russian partners in its joint venture TNK-BP Ltd, in a deal that could be worth $30 billion or more, the Wall Street Journal reported on Sunday.
Decisions by politicians on how to deal with debt on both sides of the Atlantic will be crucial to prevent another Lehman-style crisis, economists and analysts told CNBC in a debate about banking in the European Union and in the US.
The managing director of the IMF, Dominique Strauss-Kahn, was taken off an Air France plane in New York on Saturday and arrested in the sexual attack of a maid at a Midtown Manhattan hotel, the authorities told the NY Times.
The world's biggest banks are likely to be hit by capital surcharges that increase progressively based on a lender's size, how connected it is to other banks and how easily it could be replaced in a crisis, global regulators have told the Financial Times.
UK Chancellor George Osborne told CNBC on Tuesday that Britain is an example to countries like Greece on austerity.
The debt crisis facing the developed world is big and will take a generation to resolve, Angel Gurria, Secretary General of the OECD, told CNBC Thursday.
Mervyn King, the Governor of the Bank of England, made it clear to the market on Wednesday that UK rates would have to rise at some point.
The Bank of England raised its medium-term inflation forecast to just under 2 percent in its May inflation report, potentially paving the way for a November rate rise.
Britain's economy is unlikely to grow as fast as before the financial crisis because its most productive sectors have been hardest hit, jeopardising government plans to cut the deficit, reports the FT.
Greece on Tuesday denied a Dow Jones report that it expects a new aid package of nearly 60 billion euros ($85.71 billion) to deal with its debt crisis.
As far as Europe’s real economy is concerned, the problems on the periphery are just that, peripheral, according to Credit Suisse’s Robert Barrie.
European stock market futures pointed to a slightly higher open after Wall Street closed Monday slightly up on the back of commodity related news and China posted its highest trade surplus in four months in April.
Restructuring Greece’s debt is both desirable and inevitable, despite insistence from European Union officials over the weekend that the idea is off the table, reports the New York Times.