Part of the company that owns Banco Espirito Santo has applied for creditor protection, meanwhile analysts weigh up chances of a bailout.» Read More
With the bloom coming off the emerging markets rose, one economist has drawn a circle around two countries that stand the greatest risk of crisis.
Leaders of the International Monetary Fund said an uneven global economic recovery is emerging, and policymakers must take more steps to foster swifter growth and job creation.
The Italian parliament on Saturday re-elected President Giorgio Napolitano to serve a second term in an attempt to resolve the political stalemate following February's inconclusive election.
Former Prime Minister Romano Prodi withdrew from the race for the Italian presidency on Friday, deepening the chaos in the centre-left after party rebels helped his old enemy Silvio Berlusconi scupper his candidacy.
European shares closed higher on Friday, helped by a rally in mining stocks and better-than-expected output from Anglo American.
Greeks have lost almost a third of their disposable incomes since the debt crisis started more than three years ago, data showed on Friday.
France has opened a judicial investigation into allegations that former President Nicolas Sarkozy's 2007 election bid won illicit funds from late Libyan leader Muammar Gaddafi, the public prosecutor's office said on Friday.
Russia's inflation level remains too high and reducing it is the key priority, according to the woman set up to take charge of the country's central bank in June.
Major debt restructuring for both Cyprus and Greece will probably force the struggling euro zone countries to leave the single currency, according to Citigroup.
Lower inflation resulting from falling oil prices could allow more expansionary monetary policies in Europe, Credit Suisse says.
The woman in charge of Russia's privatization program told CNBC on Friday that the country is in no hurry to sell off its state-owned assets because market conditions are not optimal.
The euro zone will slow its budgetary belt-tightening to help reinvigorate economic growth, a top EU official said on Thursday.
Europe must focus on fixing its banking sector, the former governor of the Central Bank of Turkey told CNBC on Friday.
Karen Tso takes you through the European market open where stocks have come in higher.
Rob Quinn, chief European equity strategist at S&P Capital IQ, says the long-term trend for European equities remains bullish, but highlights short-term concerns.
The world's third-largest software maker SAP reported worse-than-expected first-quarter earnings on Friday as co-CEO Jim Hagemann Snabe told CNBC that cloud computing will drive the company forward.
Britain's Dairy Crest Group took an unusual step to protect its pension fund and further reduce its deficit, signing over its maturing cheese inventory to the retirement scheme.
The market may have taken a turn for the worse, but it’s also allowed top companies to stand out.
European shares closed mixed on Thursday, after a rally in technology shares was curbed when Nokia released disappointing earnings. Yet more weak U.S. data also weighed on investor sentiment.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, as shares pared back gains.
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Tim Graf, head of macro strategy for Europe at State Street Global Markets, says that global confidence, while still high, is deteriorating.
The underlying problems in Europe's southern economies have not been solved, says Hans-Werner Sinn, president at the Ifo Institute. He also criticizes the ECB potential use of quantitative easing.
Nik Stanojevic, equity analyst at Brewin Dolphin, says Iliad's bid to take over T-Mobile U.S. is surprising and that the price is below the U.S. provider's value.