Evidence is mounting that austerity isn't working yet Germany and other European nations have doubled down on it, says Nobel laureate Joseph Stiglitz.» Read More
European shares opened slightly higher on Friday, with some focus on a European Union (EU) summit and finance ministers meeting in Brussels where Cyprus is expected to be high on the agenda.
British citizens using Guernsey to keep their money from the prying eyes of the taxman will have to declare their assets to the Treasury under an agreement designed to combat tax evasion. The Financial Times reports.
Martin Schulz, president of the European Parliament, tells CNBC that the EU needs a combination of budgetary discipline and strategic investment in growth to relaunch the economy, and should work hard in regaining citizens' trust.
Steen Jakobsen, chief economist at Saxo Bank, tells CNBC that lager is one of the worst industries to be in, citing Carlsberg's '10 years of under-performance' to back that up.
Michael Gallagher, director of research at IDEAglobal, tells CNBC that investors should be shorting bonds as the euro zone heads towards another crisis, centered this time on France and Spain.
Italy's parliament convenes on Friday almost three weeks after last month's inconclusive election, with the parties still deadlocked over how to form a government.
Thanos Papasavvas, strategist, fixed income and currencies at Investec Asset Management, tells CNBC that the period before the September elections in Germany is crucial for European leaders to push Germany into taking a more dovish stance on EU reforms as she tries to win over supporters of her main challenger in the elections. The opposition SPD places a greater emphasis on growth than Merkel who has stressed the need for austerity.
Bank of England Governor Mervyn King said on Thursday that the central bank was not seeking any further fall in the level of sterling which now appeared to be fairly valued.
Oleg Deripaska, the CEO of the world's largest aluminum company Rusal said global commodity producers need to cut output by up to 10 percent.
CNBC's Simon Hobbs reports on all the market moving events in Europe today, as stocks resume their rally and the EU summit begins.
European markets posted strong gains on Thursday, extending a two-week global stock rally.
Fredrik Reinfeldt, prime minister of Sweden, says there are still countries in Europe in need of austerity because of their huge deficits.
The Bank of Italy told Italian banks to further hike provisions they set aside against bad debts to take into account the worsening economic scenario and asked lenders which posted losses not to distribute dividends or bonuses.
UBS paid CEO Sergio Ermotti almost $9 million and welcomed its new investment bank chief with a $26 million "golden hello" in 2012.
A dispute over sacking civil servants has stalled talks between Greece and the "troika" of international lenders, delaying disbursement of a €2.8bn aid tranche due amid fears the bailout program is already veering off track. The FT reports.
Leverage created by private equity deals threaten the stability of the financial system, the central bank has warned.
European shares traded higher on Thursday, ahead of a gathering of European Union leaders for a summit in Brussels, reports CNBC's Kelly Evans.
The world's biggest strip club businesses say that business is booming despite the recession, proving that "sex entertainment" still sells despite the global economic downturn. The strip club workers, however, tell a different story.
Steve Sedgwick takes you through the European market open, where stocks have come in higher.
Two-thirds of Italians oppose returning to the ballot boxes after last month's national election left the country in limbo with no dominant political force, according to a poll published on Wednesday.
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The Hong Kong protests are "unsettling" for businesses, says Anson Chan, former Hong Kong chief secretary, adding that the international community should be more involved.
Anson Chan, former Hong Kong chief secretary, says the Hong Kong authorities' response to the protests is surprising, and that this crisis is entirely "of the government's making".
Phyllis Papadavid, senior global foreign exchange strategist at BNP Paribas, says the latest euro zone inflation data "confirms" that investors should short the euro against a range of G10 currencies.