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Europe Top News and Analysis

  • Nokia Shares Drop After Dividend Is Suspended Thursday, 24 Jan 2013 | 7:04 AM ET
    The new Nokia 920 smartphone is seen in this undated handout photo made available to the media on Wednesday, Sept. 5, 2012. Nokia Oyj unveiled two smartphones using Microsoft Corp.’s new Windows Phone software, betting on the devices to win back sales lost to the iPhone and Android handset makers.

    Finnish mobile phone maker Nokia said it was to axe its annual dividend payment for the first time in over 20 years, aiming to shore up its finances amid a fall in sales.

  • Cameron Urges Free Trade Boost for EU Thursday, 24 Jan 2013 | 6:08 AM ET
    David Cameron

    U.K. Prime Minister David Cameron made the case for a free trade agreement between the United States and Europe in a speech at the World Economic Forum in Davos on Thursday, arguing in favor of the expansion of free trade as his country increasingly distances itself from the EU.

  • Spain 'Disconnect' on Jobless Surge, Bond Rally Thursday, 24 Jan 2013 | 5:30 AM ET
    Government employees demonstrate against the Spanish government's latest austerity measures.

    Spain's unemployment rate rose to 26 percent in the fourth quarter of 2012, data from the National Statistics Institute showed on Thursday, its highest level since the end of the Franco dictatorship in the mid 1970s.

  • Recession-Hit Euro Zone Has Turned a Corner: PMIs Thursday, 24 Jan 2013 | 4:42 AM ET

    The euro zone economy took a step closer to recovery this month as the rate of decline in the bloc's private sector eased more than expected, a business survey showed on Thursday.

  • Did UK’s Cameron Say What Everyone Was Thinking? Thursday, 24 Jan 2013 | 4:25 AM ET
    David Cameron

    After causing widespread consternation among his European Union (EU) partners with a speech calling for the EU to change, U.K. Prime Minister David Cameron has appeared politically isolated. However, support for his position appears to be growing, at least in some quarters within the EU.

  • Barclays CEO: We Were Too Aggressive, Self-Serving Thursday, 24 Jan 2013 | 3:36 AM ET

    Barclays CEO Antony Jenkins told CNBC in Davos that the bank was too aggressive and too self-serving in recent years, as it seeks to put the manipulation of Libor and other scandals behind it.

  • Commerzbank Confirms Up to 6,000 Job Cuts Thursday, 24 Jan 2013 | 2:54 AM ET

    Germany's second-largest lender Commerzbank has confirmed that it will cut between 4,000 and 6,000 jobs by 2016.

  • Airbus CEO: Boeing's 787 Issues Won't Delay A350 Thursday, 24 Jan 2013 | 2:09 AM ET

    Airbus CEO Frabrice Bregier has told CNBC, at the World Economic Forum in Davos, that the issues faced by Boeing with its 787 Dreamliner, will not lead to delays in certification of Airbus's A350 which is currently under development.

  • ECB Eyes September for Bank Stress Tests Thursday, 24 Jan 2013 | 1:43 AM ET

    The European Central Bank (ECB) and European Banking Authority (EBA) are aiming to carry out a joint stress test on Europe's major banks in September, sources told Reuters.

  • Large Banks Seen Dodging EU Financial Tax Bullet Thursday, 24 Jan 2013 | 1:35 AM ET

    A financial trading tax (FTT) planned by a group of euro zone nations could leave major banks, its main target, relatively unscathed while less nimble smaller trading houses, pension funds and asset managers bear the brunt.

  • Banks Try to Put Past Sins Behind Them at Davos Wednesday, 23 Jan 2013 | 11:12 PM ET

    Leaders of the world's largest banks have gone some way to persuading investors that their industry's near-death experience is over, even though the public still doesn't trust them.

  • As Security Costs Rise, Oil Firms Stay Put in Algeria Wednesday, 23 Jan 2013 | 9:32 PM ET
    In Amenas road sign, Algeria.

    It has been a harrowing start to 2013 for the global energy industry. BP, Statoil and the joint operators of the In Amenas natural gas plant in Algeria are slowly coming to terms with last week's brutal 4-day occupation of the isolated desert facility where 38 mainly foreign hostages were killed by Islamist militants.

  • IMF's Lagarde: I'm Optimistic About Europe Wednesday, 23 Jan 2013 | 1:47 PM ET
    Christine Lagarde at the World Economic Forum in Davos, Switzerland.

    The European economy faces multiple challenges, but there is reason to be optimistic, IMF Managing Director Christine Lagarde told delegates at the World Economic Forum on Wednesday.

  • Italy Has Regained Respect: Mario Monti Wednesday, 23 Jan 2013 | 12:43 PM ET
    Mario Monti, Prime Minister of Italy speaks at Special Address 'Leading against the Odds' 'at the Annual Meeting 2013 of the World Economic Forum.

    Outgoing Italian Prime Minister Mario Monti defended his track record in leading Italy through the European financial crisis and told delegates at Davos that the country had regained credibility in the eyes of investors.

  • The EU Banking Union: What's the Point? Wednesday, 23 Jan 2013 | 10:24 AM ET
    European Union (EU) flags fly outside the the European Commission headquarters in Brussels.

    In the aftermath of an economic recession, it is natural for risk aversion to increase. This is a consistent reaction after all financial crashes.

  • Britain Seen on the Brink of Losing Its "AAA" Status Wednesday, 23 Jan 2013 | 9:59 AM ET

    A lifeless economy is expected to cost Britain its place among countries with top-notch credit ratings this year, a Reuters poll showed on Wednesday.

  • IMF Cuts World Growth Forecast on Euro Crisis Wednesday, 23 Jan 2013 | 9:20 AM ET

    Global growth for 2013 will now be lower than previous estimates, according to the International Monetary Fund, as the sovereign debt crisis in Europe continues to pose a large downside risk to the economy.

  • Europe Not Out of the Woods: Axel Weber Wednesday, 23 Jan 2013 | 9:20 AM ET
    Axel Weber

    The euro zone economy is not out of the woods yet, UBS Chairman Axel Weber told CNBC at the World Economic Forum in Davos on Wednesday, pointing to the Italian elections and Spain's ability to tap financial markets for funding as significant risks.

  • Lloyds Bank Job Cuts Top 31,000 Wednesday, 23 Jan 2013 | 8:17 AM ET

    Lloyds Banking Group said on Wednesday it was axing 940 jobs bringing the total amount cut since its ill-fated takeover of HBOS in 2009 to over 31,000.

  • Monte Paschi Shares Plunge on Derivative Loss Fears Wednesday, 23 Jan 2013 | 8:05 AM ET

    Shares in Banca Monte dei Paschi di Siena, Italy's third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009.

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