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Davos - World Economic Forum

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  • Costa del Sol region in Spain.

    Spain's economic crisis has prompted a movement within Spain dubbed it “rurbanismo,” a term invented to describe the reverse migration from city to country that has stemmed a generations-old trend that has long been the usual pattern in most advanced industrial economies, the New York Times reports.

  • Chairman of the Federal Reserve Ben Bernanke speaks at the Federal Deposit Insurance Corporation headquarters, on February 16, 2012 in Arlington, Virgina.

    In September 1992, the Federal Reserve culminated a long-running effort to stimulate the sluggish economy by cutting its benchmark interest rate to 3 percent, the lowest level it had reached in almost three decades.

  • Bets on European Bonds Paying Off for Funds Tuesday, 11 Sep 2012 | 10:56 AM ET
    Euros

    When fear gripped the European markets in April, the money manager Robert Tipp decided to buy more Portuguese government bonds. He figured that European officials wouldn’t let the country turn into another Greece.

  • Greek Government and Public at Odds Over New Cuts Thursday, 6 Sep 2012 | 2:16 AM ET
    Greek Parliament

    Anastasia Kastaniotou, a struggling mother of three, stood near the Greek Parliament building on Wednesday and threw up her hands as she contemplated an €11.5 billion austerity package that her country’s government was trying to tie up this week to keep Greece in the euro, the New York Times reports.

  • jorg-asmussen-200.jpg

    A top German official at the European Central Bank on Monday defended the bank’s plans to intervene in bond markets to push down borrowing costs for businesses and encourage economic growth. The position puts him at odds with the president of Germany's central bank and highlights a growing split in the country’s policy-making elite.

  • Euro’s Medicine May Be Making Greece’s Symptoms Worse Wednesday, 25 Jul 2012 | 12:30 PM ET
    Greek Parliament

    Greece's official lenders are signaling a growing reluctance to keep paying the bills of the nearly bankrupt nation, even as the government seeks leniency on its bailout terms.

  • Europe’s Downturn Creates Unlikely Smugglers Thursday, 12 Jul 2012 | 2:20 AM ET
    Cigarettes

    For years, law enforcement officers and smugglers have played cat and mouse in Europe, where contraband cigarettes are stashed in everything from furniture shipments to loads of Christmas trees, the New York Times reports.

  • Bank Scandal Turns Spotlight to Regulators Tuesday, 10 Jul 2012 | 2:07 AM ET
    Wall Street sign

    As big banks face the fallout from a global investigation into interest rate manipulation, American and British lawmakers are scrutinizing regulators who failed to take action that might have prevented years of illegal activity, the New York Times reports.

  • Trade Group for Bankers Regulates a Key Rate Friday, 6 Jul 2012 | 2:35 AM ET
    Robert Diamond, CEO of Barclays.

    While it was big news when the Barclays chairman, Marcus Agius, resigned Monday over his bank’s role in the Libor rate-fixing scandal. Less noticed was his other resignation that same day, the New York Times reports.

  • Draghi Gets Powers to Rival Bernanke Tuesday, 3 Jul 2012 | 2:39 AM ET
    Mario Draghi

    The spotlight in the European debt crisis has now shifted decisively toward the influential leader of the European Central Bank, Mario Draghi, who emerged from the recent summit meeting in Brussels with new powers and stronger backing to address the Continent’s financial woes. The New York Times reports.

  • Here's What to Expect From Aspen Wednesday, 27 Jun 2012 | 3:35 PM ET
    businesspeople-talking-silhouette-200.jpg

    It's hard to know what to expect from these things. On the one hand, there's an impressive roster of speakers tackling a very broad range of topics. On the other hand, there are strong hints that this thing is going bubble over with Very Smart People Agreeing With Each Other.

  • French President Francois Hollande (L) speaks with German Chancellor Angela Merkel (R)

    The French President is determined to show the French that he is willing to stand up to Berlin, to push the German Chancellor to contribute even more than before toward a lasting solution of the euro mess. The New York Times reports.

  • european_union_crack2_200.jpg

    The head of the European Central Bank and other euro zone leaders worked on Saturday on a grand vision for the euro zone meant to reassure investors and allies that flaws in the currency union will be addressed quickly.

  • In Europe, Banks Borrowing to Stay Ahead of the Tide Monday, 11 Jun 2012 | 10:31 AM ET
    Euro bills

    As Europe works to prop up Spain’s wobbling banks, its leaders still face a problem that plagues the Continent’s increasingly vulnerable financial institutions — a longstanding addiction to the borrowed money that provides the day-to-day financing they need to survive.

  • Greece Warns of Going Broke as Tax Proceeds Dry Up Wednesday, 6 Jun 2012 | 5:52 AM ET

    As European leaders grapple with how to preserve their monetary union, Greece is rapidly running out of money, the New York Times reports.

  • Most Aid to Athens Circles Back to Europe Wednesday, 30 May 2012 | 12:41 AM ET
    European Central Bank

    The European bailout of 130 billion euros ($163.4 billion) that was supposed to buy time for Greece is mainly servicing only the interest on the country’s debt — while the Greek economy continues to struggle, the New York Times reports.

  • Francois Hollande, France's president, arrives for a news conference following the European Leaders (EU) summit at the European Council headquarters in Brussels, Belgium, on Thursday, May 24, 2012.

    French President, Francois Hollande has cast himself as the European leader pushing hardest to forge a growth-oriented “new path” through the euro zone’s grinding debt crisis, pitting him against the austerity-minded German Chancellor Angela Merkel, the New York Times reports.

  • Subsidies Aid Rebirth in U.S. Manufacturing Friday, 11 May 2012 | 4:14 AM ET
    manufacturing engineering

    Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America.

  • Has German Opposition Joined the Pro-Growth Chorus? Wednesday, 9 May 2012 | 8:55 AM ET
    Reichstag Parliment building, Berlin, Germany

    German lawmakers likely will delay a vote on the euro zone's fiscal compact on budget discipline because the country's main opposition party wants to insert growth-focused measures into the pact, a coalition source told CNBC.

  • German Patience With Greece on the Euro Wears Thin Wednesday, 9 May 2012 | 3:30 AM ET
    Victory Column

    Just weeks ago, the idea that Greece would leave the euro zone was almost unthinkable. Now, with Greece’s newly empowered political parties refusing to abide by the terms of the country’s international loan agreement and Europe’s leaders talking tough, that outcome is looking increasingly likely. The NYT reports.