The drama at Portuguese lender Banco Espirito Santo (BES) resumed on Thursday with a former CEO of the bank being held by police in Lisbon.» Read More
Jorg Decressin, Deputy Director, Research Department at the IMF said the IMF cut its 2013 forecast for global growth despite the stimulus efforts by central banks.
If Washington can reach a grand bargain to fix its fiscal problems, the U.S. economy could boom, JPMorgan CEO Jamie Dimon told CNBC on Wednesday in Davos.
If the recent global economic crisis taught us anything, it is that the world can be a better place when we collaborate to address the challenges of our connected globe, Bank of America CEO Brian Moynihan said.
The European economy faces multiple challenges, but there is reason to be optimistic, IMF Managing Director Christine Lagarde told delegates at the World Economic Forum on Wednesday.
Outgoing Italian Prime Minister Mario Monti defended his track record in leading Italy through the European financial crisis and told delegates at Davos that the country had regained credibility in the eyes of investors.
Lawrence Summers told delegates at the World Economic Forum that the U.S. was right to focus on its budget deficit, but should also make the most of "negligible" long term interest rates to improve healthcare and education.
Morgan Stanley hopes to buy the rest of the Smith Barney business this year as it continues to re-position its business, CEO James Gorman told CNBC.
CNBC's Michelle Caruso-Cabrera reports on all the market moving events in Europe today.
Eurasia Group President Ian Bremner and Stefano Aversa, co-president at Alix Partners, discuss market uncertainty ahead of David Cameron's speech on Friday, plus Italy's political future.
William Browder, CEO and co-founder of Hermitage Capital Management, says Russian Prime Minister Dmitry Medvedev's speech at the World Economic Forum was divorced from reality, and advises investors to avoid the country.
South African President Jacob Zuma on Wednesday questioned whether Africa was more risky than other regions across the globe, arguing in a debate at Davos that the continent was growing and moving forward.
Wong Wai Ming, chief financial officer at Lenovo, says use of the personal computer is not in decline but actually growing in some sectors.
A lifeless economy is expected to cost Britain its place among countries with top-notch credit ratings this year, a Reuters poll showed on Wednesday.
Global growth for 2013 will now be lower than previous estimates, according to the International Monetary Fund, as the sovereign debt crisis in Europe continues to pose a large downside risk to the economy.
The euro zone economy is not out of the woods yet, UBS Chairman Axel Weber told CNBC at the World Economic Forum in Davos on Wednesday, pointing to the Italian elections and Spain's ability to tap financial markets for funding as significant risks.
Shares in Banca Monte dei Paschi di Siena, Italy's third-biggest lender, fell more than 5 percent for the second day in a row on Wednesday on worries of mounting losses on some financial derivative positions which it took in 2008 and 2009.
The European economy will continue to stabilize albeit slowly this year as the euro zone crisis looks to be contained, a number of CEOs told CNBC at the World Economic Forum in Davos, Switzerland.
With billions of dollars' worth of distressed assets in its banks waiting to be snapped up by more intrepid investors, Europe is one of the "largest emerging markets" in the world, according to the chief executive of global private equity firm The Carlyle Group.
Spain's economy shrank in the final months of 2012 at the fastest pace since its recession began, data showed on Wednesday, pummeled by falling domestic demand and with no return to growth on the horizon.
CNBC's Kelly Evans reports on remarks made by British Prime Minister David Cameron that "there is a gap between the EU and its citizens that has grown dramatically in recent years."
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Ethiopia can achieve its target of reducing poverty further, Hailemariam Desalegn, the Ethiopian prime minister tells CNBC, adding that the country's wealth is very "inclusive".
Ethiopian economy is transforming, says the country's prime minister, Hailemariam Desalegn. He also discusses the agricultural sector.
The issuance of Ethiopian bonds "depends on the success" the country has over the next three-to-four years, Hailemariam Desalegn, Ethiopian's prime minister explains.