The euro zone economy appears to be taking a hammering as a key business survey released on Thursday painted a deteriorating picture, coming in well below analysts' expectations.

The European Commission wants to cooperate closely with the U.S. Securities and Exchange Commission (SEC) on the planned regulation of credit rating agencies, the German financial weekly Euro am Sonntag reported.

Shares of Dutch mail company TNT jumped almost 30 percent on Monday after a report over the weekend that FedEx is in preliminary talks to acquire it.

Euro-zone rates rose to 4.25% as the central bank fights inflation, but ECB President Jean-Claude Trichet's message was slightly dovish.

A petition to halt interest rate hikes in the euro zone notwithstanding, European Central Bank President Jean-Claude Trichet will in all likelihood boost interest rates when the policy makers meet Thursday.

The world's biggest central banks are pulling in opposite directions and it seems their efforts are only contributing to one thing: a weaker dollar.  Vote for your preferred central banker.

Euro zone inflation jumped to a record high of 4.0 percent in June, cementing expectations the European Central Bank will raise interest rates this week despite slowing economic growth.

Shifting focus to fast-growing Eastern Europe and shedding jobs in the mature Western European markets will ensure that the continent's second-largest bank meets its ambitious growth targets, UniCredit CEO Alessandro Profumo told "Squawk Box Europe" on Wednesday.

Fortis said it would sell new shares and pay no interim dividend as part of a package to shore up its finances by more than 8 billion euros ($12.54 billion), sending its shares sliding on Thursday.

Inflation risks have increased in the medium term and the European Central Bank stands ready to counter inflationary pressures, ECB President Jean-Claude Trichet told the EU Parliament on Wednesday.