An international study on recessions and governments' responses to them has found that cuts to healthcare systems prompted by fiscal austerity are making matters far worse - for both governments and society.
CNBC's Simon Hobbs reports Spain formally requested an EU bailout for its banks; and an update on the Greek debt buyback plan, with CNBC's Silvia Wadhwa. Also, an update on U.S. markets, with CNBC's Bob Pisani.
Greece's economy is in recession but there are reasons to be upbeat and the debt-laden nation will be able to rebound strongly as it works its way through reforms, European Central Bank governing council member Christian Noyer told CNBC.
The euro gained for a fourth straight session on Monday to hit a six-week high as news from Spain and Greece eased concerns about the debt-burdened countries.
China could eclipse the United States sooner than many think as the yuan becomes a major player on the word stage that could put the dollar in the shade, analysts told CNBC.
The U.K.'s welfare state has a long and distinguished history, with elements of its healthcare recently being compared with President Barack Obama's Medicare reforms.
Pensions in Britain will be hit by further cuts to tax relief announced on Wednesday by Finance Minister George Osborne. Analysts tell CNBC that the measures will not just affect Britain's high earners.
Pope Benedict's new handle on Twitter will be @pontifex, beating out other contenders that had been considered to showcase the thoughts of one of the world's most visible leaders.
Swiss bank UBS is close to a settlement with U.S. and U.K. authorities and is expected to pay more than $450 million over claims that some of its employees submitted false Libor rates, the NYT reported.
Greece on Monday said it would conduct its bond buyback offer through a modified Dutch auction method in which investors declare how much they are willing to sell their bonds at before the price is determined.
German Chancellor Merkel said Greece's creditors may look at writing down more of its debt, but not before the current bailout program runs its course.
British Chancellor George Osborne said on Sunday that it would be "catastrophic" to reverse his austerity policy,but Adam Posen, a former member of the Bank of England's Monetary Policy Committee, told CNBC that both Osborne's austerity package - and apocalyptic warnings - were self-defeating.
Advertising tycoon Martin Sorrell says uncertainty across the globe is stifling business, and he criticized Washington for "fiddling while Rome burns."
Sterling tumbled following minutes released by the Bank of England and disappointing retail sales, as the IMF warned the U.K. is at risk of "permanent damage."
Microsoft unveiled its next generation console Xbox One on Tuesday, but it was its inclusion of live TV, rather than its gaming capabilities that set tongues wagging.
German business software company SAP will start to employ people with autism as software testers, programmers and data quality assurance specialists across the world.
James Bullard, member of the Federal Reserve, tells CNBC why the US economy has taken longer than expected to recover, despite the huge amounts of stimulus.
Jan Randolph, head of sovereign risk at IHS Global, tells CNBC that the financial system is representative of two drunks: the financial markets and the real economy.