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.
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'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.
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.
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 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.
Germany's second-largest lender Commerzbank has confirmed that it will cut between 4,000 and 6,000 jobs by 2016.
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.
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.
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.
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.
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.
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.
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.
In the aftermath of an economic recession, it is natural for risk aversion to increase. This is a consistent reaction after all financial crashes.
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.
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.
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 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.
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.
Bitcoin fans learnt that one of the virtual currency's exchanges will enforce customer verification checks from Thursday.
Google is challanging Apple's iPhone with MotoX, the FT reports.
The recent move by the Swiss government to allow banks to sidestep secrecy laws won't prevent them from depositing money in the country.
Tania Bryer speaks to fashion designer Diane von Furstenberg about her extraordinary life.
In Part Two, designer Diane von Furstenberg talks to Tania Bryant about starting again in the fashion business.
Designer Diane von Furstenberg said the launch of her iconic "wrap dress" design gave her a financial security she had never had before.