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Europe Top News and Analysis

  • French Elections, Nicholas Sarkozy

    Ex-French president Nicolas Sarkozy was placed under formal investigation on Thursday for "abuse of weakness" in a 2007 party funding case involving elderly L'Oreal heiress Liliane Bettencourt, the public prosecutor said.

  • Are Markets Too Complacent Over Cyprus? Friday, 22 Mar 2013 | 2:01 AM ET
    Cypriot protestors

    Markets have held up relatively well this week in the face of financial turmoil in Cyprus, prompting some analysts to warn that investors are too complacent about the risks.

  • Dealer Cheating Causes Havoc at Volvo's China Unit Thursday, 21 Mar 2013 | 11:54 PM ET

    Swedish auto maker Volvo has uncovered widespread cheating by its car dealers in China, where retailers inflated sales to win cash rebates from the company.

  • S&P Cuts Rating on Cyprus by One Notch to Triple-C Thursday, 21 Mar 2013 | 8:43 PM ET
    A woman carrying her baby withdraws money at an ATM machine in the Mediterranean city of Limassol.

    Standard & Poor's cut the sovereign long-term foreign currency credit rating on Cyprus deeper into junk status on Thursday, lowering the rating to CCC from CCC-plus.

  • Ericsson CEO: North America Driving Growth  Thursday, 21 Mar 2013 | 8:35 PM ET

    Hans Vestberg, CEO at Ericsson, says the bulk of the company's growth is coming from North America, where the majority of all 4G subscribers are.

  • From Russia With Love: China's Xi Visits Moscow Thursday, 21 Mar 2013 | 8:21 PM ET
    Moscow

    China's new leader Xi Jinping arrives in Russia on Friday for his first overseas trip, with an elusive gas deal expected to be high on the agenda.

  • Scenes From the Cyprus Crisis Thursday, 21 Mar 2013 | 2:53 PM ET

    For Cyprus—and for Europe—the clock is ticking, with the prospect of the eastern Mediterranean island exiting the euro zone or defaulting on its debt looming ever larger. Click ahead to see how the crisis has unfolded.

  • Russia Creates World's Largest Listed Oil Major Thursday, 21 Mar 2013 | 1:10 PM ET
    The logo of OAO Rosneft, Russia's biggest oil producer, sits on a plaque outside the company's headquarters in Moscow, Russia.

    Russian state oil company Rosneft closed its deal to buy TNK-BP from UK-based BP and four tycoons on Thursday, releasing $40 billion cash to the sellers and becoming a bigger oil producer than Exxon Mobil.

  • Rate Rigging Probe Homing In on Deutsche Bank Thursday, 21 Mar 2013 | 9:14 AM ET
    Deutsche Bank, Frankfurt

    German markets watchdog Bafin is set to tell Deutsche Bank of "organizational flaws" in how it supervised its contribution to setting Libor rates, sources familiar with the investigation said.

  • The Iron Lad: Osborne Hailed as Thatcher’s Heir Thursday, 21 Mar 2013 | 7:33 AM ET

    The British media enjoy any opportunity to hail or condemn Margaret Thatcher, and the current Chancellor's 2013 budget gave them such a moment.

  • Italy's 5-Star Movement Seeks Mandate to Govern Thursday, 21 Mar 2013 | 6:03 AM ET
    Beppe Grillo

    The populist 5-Star Movement of ex-comic Beppe Grillo asked President Napolitano for the mandate to form an Italian government.

  • Russia Aid Not Likely for Cyprus: Eurogroup Chief Thursday, 21 Mar 2013 | 6:00 AM ET
    Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem

    The Dutch finance minister and new head of the Eurogroup of finance ministers, Jeroen Dijsselbloem, told CNBC that he was confident that an agreement could be found for Cyprus, but Russia might not be the source of the solution.

  • Osborne Defends $5.3 Billion Housing Stimulus Thursday, 21 Mar 2013 | 5:51 AM ET
    Chancellor of the Exchequer George Osborne walks out before presenting his annual budget to Parliament at 11 Downing Street on March 20, 2013 in London

    The U.K.'s newly announced "right to buy" scheme will not fuel a potentially dangerous housing bubble similar to that seen in the subprime mortgage crisis in the U.S., the U.K.'s Finance Minster George Osborne told CNBC on Thursday.

  • UK Needs ‘Monetary Realism’: Ex-BoE Official Thursday, 21 Mar 2013 | 5:40 AM ET
    The Bank of England

    The Bank of England (BoE) may have been given the green light to use "unconventional monetary policy instruments", but it actually needs to engage in some monetary policy "realism", Andrew Sentance, senior economic advisor at PwC, told CNBC.

  • Euro Zone Downturn Deepening, Even Before Cyprus Thursday, 21 Mar 2013 | 5:06 AM ET

    The euro zone's economic downturn has deepened this month, even before Cyprus's bailout debacle, a business survey showed on Thursday.

  • Big Issues With Europe Auto Industry: Lanxess CEO  Thursday, 21 Mar 2013 | 3:45 AM ET

    Axel Heitmann, CEO of, the world's largest synthetic rubber maker, Lanxess, tells CNBC that new car registrations in Europe are at an all-time low.

  • Hermes Posts Record Margin, Beats Forecasts Thursday, 21 Mar 2013 | 3:36 AM ET
    Forth & Towne opened four stores in the Chicago area today including this one in Skokie, looking to provide the 35-year-old-plus woman with fashionable, fitting clothing as well as accessories.

    Hermes said operating margin last year reached its highest level since they listed in 1993 on robust demand for its hand-crafted leather goods and printed silk scarves.

  • H&M Speeds Up Expansion Despite Profit Miss Thursday, 21 Mar 2013 | 3:20 AM ET

    H&M, the world's second-biggest fashion retailer, posted a slightly bigger drop than expected in first quarter pretax earnings.

  • France Told to Cap Super Tax at 66 Percent: Report Thursday, 21 Mar 2013 | 2:58 AM ET

    France's top administrative court has determined that the super tax on millionaires should not top two-thirds of earnings.

  • Medvedev Lambasts EU Over Cyprus Levy Thursday, 21 Mar 2013 | 2:26 AM ET

    Russian prime minister Dmitry Medvedev has lambasted the EU's handling of the Cyprus debt crisis, comparing a plan for a levy on bank deposits to measures that hurt savers under the Soviet Union, the Financial Times reports.

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