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Olli Rehn, the European Union's top economic policy maker and scourge of debt-fueled budget deficits, is fed up with austerity.
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Italian bond yields broke below the 4 percent level on Monday and remain at record lows, but analysts warn the country's borrowing rate is poised on a fragile tipping point, after Prime Minister Enrico Letta’s maiden speech divided market opinion.
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Billionaire investor George Soros has struck back for distorting his arguments on Germany's role in the euro zone.
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The odds of a rate cut by the European Central Bank increased significantly on Tuesday after euro zone inflation eased to a two-year low and unemployment hit a new record high.
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Anglo-Dutch consumer goods giant Unilever Plc will pay $5.4 billion to raise its stake in its Indian unit, in a bet on fast-growing spending power in Asia's third-largest economy.
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UBS CEO told CNBC Tuesday that the company is reaping the benefits of its radical restructuring, after the company reported a net profit of 988 million Swiss francs, beating expectations of a 510 million Swiss francs profit.
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Spain's GDP figures were in line with estimates from the Bank of Spain, but the country has now reported seven consecutive quarters of contraction and the government is easing up on austerity measures.
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With banking behemoths UBS and Deutsche Bank announcing strong quarterly profit growth Tuesday, strategists face off on which bank is likely to trump its rivals over the long term in the volatile banking sector.
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Deutsche Bank said it will beef up its balance sheet with a 2.8 billion euro capital increase and unveiled forecast-beating first-quarter earnings following a wave of aggressive cost cuts.
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U.S. retailer Best Buy is selling its 50 percent stake in a joint venture with Europe's biggest independent mobile phone retailer Carphone Warehouse Group back to its European partner for about 500 million pounds (or $775 million).
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Increasingly, people on the financially stricken island of Cyprus are focusing their anger on the European Central Bank, the NYT reports.
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The Independence Party may have won the most votes, but the Progressive Party in Iceland is the real winner of the election.
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With Spain in the doldrums, many Spaniards are coming to the Americas, where economic indicators point admirably upward, the GlobalPost reports.
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Italy must focus on reviving its economy and it will lobby its European partners to obtain more growth-oriented policies at the EU level, new Prime Minister Enrico Letta said in his maiden speech to parliament on Monday.
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Italy's new Prime Minister Enrico Letta won his first vote of confidence in parliament on Monday after promising to press for a change to the European Union's focus on austerity.
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Mining group Rio Tinto plans to almost halve the size of its London head office, cutting more than 200 jobs as it tries to slash more than $5 billion in costs by the end of next year.
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The troubled European car market is now dragging down even Volkswagen, the region's leading automaker. The New York Times reports.
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Shoot me now: Austerity is bad for your health. Really. Is it any wonder that growth stimulus is back on the table in Europe?
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There's a crisis in Italy: It's too hot in the pizzeria and the Italians have gotten out, leaving a shortage of 6,000 "pizzaiuoli," according to the Italian business group FIPE.
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Novartis plied physicians with dinners, speaker fees, fishing trips and outings at Hooters restaurants to get them to prescribe patients more Novartis drugs, the US government alleges. Globalpost reports.
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Talk of a rate cut usually sends a currency lower. No wonder analysts are puzzled that the euro is holding firm amid speculation that the European Central Bank will lower interest rates when it meets on Thursday.
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Billionaire George Soros reduced his holdings of exchange-traded products backed by gold prior to last month's freefall.
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The chief executive of the world's largest container shipping company Moeller-Maersk told CNBC that the company would not order any new ships this year.
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.80x60.jpg?v=1366815023 "Samsung Beats Google to Profits: Report")
Samsung has become the "undisputed king" of the Android smartphone industry, creating more profit from the software than Google, according to research.
CNBC Meets
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London's Mayor accused the former government of leaving young people without the skills to challenge migrants.
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London's mayor Boris Johnson's views on low taxes and free markets have drawn parallels with Margaret Thatcher.
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Following an uncomfortable 15 minutes with Eddie Mair, London Mayor Boris Johnson also has an in-depth interview with CNBC's Tania Bryer next month.