The ECB and the BOE left interest rates unchanged on Thursday, as fears of inflation outweighed worries that the U.S. economic woes may spread around the world.
The European Central Bank's surplus fell to 286 million euros ($439 million) last year from 1.37 billion euros in 2006, because of the euro's strength, the bank said on Thursday.
Here's something that should make you realize what crazy times we are living in: 9-year auto loans are popping up around the country. That's right, it wasn't a typo. Nine years! 108 months! Almost a third of the time used to pay off a conventional mortgage!
The foreign exchange maneuver known as the carry trade looks set to continue unwinding, with bearish investors scared of risks. But buying opportunities might emerge from the trend, analysts told CNBC on Wednesday.
Amid the gloomy comments from auto executives at the Geneva Motor Show, the unveilings of several important new models are being overshadowed. Take the new Ford Fiesta. This compact car is being sold in Europe, but the design cues and architecture behind this car will be the underpinnings of compact cars the automaker will roll out in the U.S. in the future.
Gas giant Gazprom, whose chairman Dmitry Medvedev was elected Russian president on Monday, said it will halve gas supplies to Ukraine from Tuesday because a debt dispute between them has not been resolved.
Russia's gas monopoly Gazprom reduced supplies to Ukraine by a quarter on Monday, just hours after its chairman and Kremlin candidate Dmitry Medvedev won Russia's presidential election.
One of Germany's biggest financial groups, DZ Bank, joined the country's growing list of casualties from the subprime mortgage crisis on Thursday by posting 1.36 billion euros ($2 billion) in writedowns.
Authorities worldwide were looking today to see if their citizens were dodging tax through Liechtenstein as attention in Germany, where the scandal started, turned to Monaco.
Germany's finance minister increased pressure on tiny Liechtenstein to help combat tax evasion, raising the possibility of restricting business with the principality if it does not cooperate.
The European Business Summit takes place each year in Brussels and this year the event is focusing on green issues.
Dutch financial services group ING took a lower than expected impairment charge on its riskier investments in its fourth-quarter results and its risk exposure is limited, CFO John Hele told CNBC Europe on Wednesday.
The number of insolvencies is set to rise in Western economies due to the global credit crunch and the end of housing booms in countries such as the United States, Britain and Spain, a report said on Wednesday.
Europe's biggest states recognised the independence of Kosovo on Monday, ending hours of suspense after Prime Minister Hashim Thaci assured his new republic that Western recognition would come "any minute".
The focus of much of the mainstream media coverage of the Northern Rock nationalization has been directed towards the fate of the stricken lender’s long-suffering shareholders. But it's tough to find sympathy for equity investors.
A French inquiry into a record 4.9 billion euros ($7.17 billion) trading loss at Societe Generale widened to a second broker on Friday as investigators sought to establish whether rogue trader Jerome Kerviel acted alone.
The economy's so bad, Cramer says, they have no choice.Investing can be confusing. Luckily, Cramer has mapped out some road rules for all you Home Gamers trying to navigate the jungle that is Wall Street. Think of it as "Mad Money 101" –- some fundamental advice to keep in mind as you play the market. Whether you're a first time investor or a seasoned financier, it's always good to remember the basics.
India's lucrative outsourcing industry struggled Thursday to overcome Internet slowdowns and outages after cuts in two undersea cables sliced the country's bandwidth in half.
The Austrian capital is the city where the old EU meets the new EU. Teeming with international organizations, it's also the city that was the first to foray into Eastern European banking and the destination for tasty pastry.
Northern Rock threatens to withhold coffee unless angry shareholders wrap things up on time. Metaphors of dogs on leashes and captains of ships fly, as a beleaguered chairman faces the silky eloquence of activist investors.