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British expats in Cyprus have reacted angrily at proposals to force depositors to share in the bailout costs for Cyprus banks.
PSA Peugeot Citroen won the support of a majority of workers' representatives for restructuring and job cuts designed to halt mounting losses at the French carmaker, three union officials said.
The European Union's markets watchdog has criticized the world's top three credit ratings agencies for a lack of transparency over how they evaluate banks and demanded more robust internal reviews of their methods.
Cyprus may propose a tax-free threshold or a lower tax rate for smaller depositors, media reports said Monday.
A plan to tax bank savers in Cyprus questions the "sanctity of bank deposits in Europe," says Pimco Co-CIO Mohamed El-Erian.
The Cyprus news of a savers' haircut is surprising even given the ongoing European debt crisis, Jim O'Neill, chairman of Goldman Sachs Asset Management, told CNBC.
Jane Buchan, CEO, Pacific Alternative Asset Management Company CEO, discusses why she believes European equities are a "stock-pickers delight."
Proposals to force depositors in Cyprus to contribute towards a euro zone bailout has shaken the very nature of banking to its roots, according to Dennis Gartman, editor of "The Gartman Letter", who has labeled Cyprus's recently elected President Nicos Anastasiades a "fool".
CNBC's Kelly Evans reports euro zone concerns have resurfaced on news of a proposal that would tax depositors.
Standard and Poor's sees a high risk that Spain, Italy, Portugal and France will not be able to carry through necessary reforms as the unemployed become less willing to put up with austerity, S&P's Germany head Torsten Hinrichs told a newspaper.
The euro zone's proposal that bank depositors in Cyprus contribute toward a bailout has dampened risk appetite for many investors. CNBC's Julia Chatterly, Carolin Roth, and Michelle Caruso-Cabrera report all the detail on how this newest development will impact global investors.
The decision to force bank depositors in Cyprus to contribute towards a euro zone bailout could mean the country's economy could shrink by 15 percent over the next two years, investment bank Nomura said.
STMicroelectronics and Ericsson will close their loss-making mobile chip joint venture ST-Ericsson by dividing parts of the business between them and shutting the rest with the loss of about 1,600 jobs.
As the Cypriot parliament decides on a deposit levy, the shadow of Russian money in the island looms large.
European Markets Open Sharply down.
Chris Weston, institutional dealer at IG Markets, says there have been a lot of sell orders but he hasn't seen a panic yet on Cyprus's deposit levy.
Clem Chambers, CEO at ADVFN says the levy on Cyprus banks is unprecedented and signals your money isn't safe. He also says that EU, ECB and IMF have torn up the rule book and they can do it again.
Adarsh Sinha, Head of Asia Pacific G10 FX Strategy at BofA Merrill Lynch Global Research says the Cyprus bailout offer of levying bank deposits came as a surprise and he's bearish on the euro-dollar.
Mikio Kumada, Executive Director & Global Strategist at LGT Capital Partners says the Cypriot banks are funded by a huge deposit base and the levies are a one off event.
Cyprus' finance minister, Michael Sarris, tells CNBC why he defends the controversial tax on bank deposits.
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At Davos, Ivan Vatchkov, CIO of Algebris, says the reform of the "populari" banks makes the banking environment in Italy "considerably more investment friendly."
At Davos, Ivan Vatchkov, CIO of Algebris, discusses the recent launch of quantitative easing in Europe.
At Davos, Sir Mike Rake, President of Confederation of British Industry (CBI) and chairman of BT Group says that the benefits of staying in the European Union outweigh the costs.