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Europe Top News and Analysis

  • Santander Profit Plunges on Property Losses Thursday, 31 Jan 2013 | 3:22 AM ET

    Spain's biggest bank Santander on Thursday said its 2012 net profit had more than halved, hurt by write downs on soured property assets at home while profit from key growth spots such as Latin America also fell.

  • Spain's Clandestine Restaurants Hide From Taxman Thursday, 31 Jan 2013 | 2:35 AM ET

    Economic hardship has inspired a full range of clandestine entrepreneurship in Spain. The combination of higher taxes and unemployment has pushed desperate Spaniards to convert their apartments and underused lofts and warehouses into jazz clubs, hair salons, restaurants and even flamenco halls.

  • Shell CEO: No Recovery for Natural Gas in 2013 Thursday, 31 Jan 2013 | 2:34 AM ET
    Oil rigs in the South China Sea.

    Shell CEO Peter Voser told CNBC he doesn't expect a major recovery in natural gas prices in the U.S., after the Nymex-traded futures contract rebounded 24 percent from a year ago to $3.23 per million British thermal units.

  • Diageo CEO: Europe Market Is Lackluster Thursday, 31 Jan 2013 | 2:00 AM ET

    Diageo, the world's biggest spirits maker, reported slowing growth in earnings on Thursday and the CEO told CNBC the Europe market was lackluster.

  • Markets Will Punish Central Banks: Marc Faber Thursday, 31 Jan 2013 | 1:51 AM ET
    Marc Faber

    Extensive monetary easing has dangerous side effects and markets are sure to punish central banks for their mistakes, veteran investor and the author of the Gloom, Boom & Doom Report, Marc Faber, told CNBC on Thursday.

  • Ericsson Shares Surge on Profit Beat Thursday, 31 Jan 2013 | 1:34 AM ET

    Shares of Ericsson, the mobile telecom equipment maker, rose 8.2 percent in morning trade, making it the best performer on the Euro Stoxx 600 Index, after the company reported fourth-quarter earnings.

  • Flee ‘Safe’ Sovereign Debt, Says Hasenstab Thursday, 31 Jan 2013 | 1:31 AM ET

    The man who made some of the boldest contrarian bets in the bond market last year has a new message for investors: get out of supposedly safe government debt now, before it is too late.

  • UK Proposes Tougher Accounting Test on Banks Thursday, 31 Jan 2013 | 1:20 AM ET

    Accountants will have to determine more thoroughly if a bank can stand on its own two feet for well over a year without taxpayer help under draft changes from Britain's audit regulator.

  • Deutsche Bank CEO: Major Progress on Capital Ratio Thursday, 31 Jan 2013 | 1:16 AM ET
    Anshu Jain, co-CEO of German's biggest bank, Deutsche Bank

    Deutsche Bank shares rose 2.2 percent on Thursday, despite the company posting a 2.6 billion euro ($3.5 billion) pre-tax loss, after the lender reported capital ratios that were better than expected.

  • Bank CEOs Say Trading Curbs Will Stifle French Economy Thursday, 31 Jan 2013 | 1:15 AM ET

    The heads of France's top three banks said tougher laws to curb risky trading would put the country at a competitive disadvantage as it struggles with record unemployment and a grim economic outlook.

  • Gold or Platinum—Which Will Get to $2,000 First? Thursday, 31 Jan 2013 | 12:01 AM ET

    Gold and platinum have been locked in a tight race for the past month, with both trading currently around $1,680 an ounce, prompting the question – which precious metal will win the race to $2,000?

  • Monte dei Paschi Harbored Bank Within a Bank Wednesday, 30 Jan 2013 | 11:31 PM ET
    Banca Monte dei Paschi di Siena

    The secret document at the heart of the Monte dei Paschi banking scandal lay for months in a concealed safe in a 14th century Tuscan palace. Chief Executive Fabrizio Viola said he learnt about the safe's contents only last October, a full 10 months after he had been called in to sort out Italy's third biggest bank.

  • Fed Keeps Stimulus Amid Signs of Weak Economy Wednesday, 30 Jan 2013 | 2:34 PM ET

    The Federal Reserve, saying economic growth had "paused" in recent months, announced Wednesday it will continue its $85 billion monthly bond buying and hold interest rates near zero until unemployment falls to at least 6.5 percent.

  • Why This Euro Rally Could Keep Going for a While Wednesday, 30 Jan 2013 | 8:32 AM ET

    The euro hit a 14-month high against the dollar, some analysts believe the rally is set to continue as improved sentiment for the euro bloc takes hold.

  • Investors Throw Spain a Lifeline as Economy Shrinks Wednesday, 30 Jan 2013 | 6:44 AM ET

    With record unemployment figures, a fractious political scene, years of declining retail sales and Wednesday's depressing growth data, Spain appears to be sinking. Yet an improvement in risk appetite and falling borrowing costs continue to prop up the economy.

  • French Lawmakers to Quiz Bank Bosses Wednesday, 30 Jan 2013 | 5:15 AM ET

    The heads of France's top three banks will face questions on Wednesday from a parliamentary committee looking into proposed reforms designed to curb risky trading and beef up regulatory oversight.

  • Euro Zone Sentiment Rises for Third Month in a Row Wednesday, 30 Jan 2013 | 5:09 AM ET

    Euro zone economic sentiment improved more than expected across all sectors in January, rising for the third time in a row in a sign the economy could be emerging from a low point in the fourth quarter of 2012.

  • Euro Zone Periphery Fixes Major Cause of Crisis Wednesday, 30 Jan 2013 | 4:17 AM ET

    Greece, Portugal and Spain are reversing the loss of wage competitiveness that was a significant cause of the euro zone crisis, the Conference Board said on Wednesday.

  • Rajoy Gets No Love Despite Modest Positive Signs Wednesday, 30 Jan 2013 | 2:48 AM ET
    Mariano Rajoy, Prime Minister of Spain.

    Prime Minister Mariano Rajoy looks to have a tough year ahead as austerity bites, Catalonia bucks, and corruption lurks. The Christian Science Monitor reports.

  • BP Pays Record $4 Billion in Criminal Penalties Wednesday, 30 Jan 2013 | 2:31 AM ET
    Smoke rises from a controlled burn May 19, 2010, in the Gulf of Mexico.

    A U.S. judge accepted an agreement by BP to plead guilty for its role in the Deepwater Horizon disaster and pay a record $4 billion in criminal penalties for the worst offshore oil spill in U.S. history.

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