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Moody's and Standard & Poor's both lowered their outlooks on Barclays to "negative" from "stable" in the wake of the interest rate manipulation scandal. CNBC's Kelly Evans reports.
It lasted more than three hours. But despite speaking fluently for most of that time, Bob Diamond’s interrogation by MPs on Wednesday left unanswered many of the questions surrounding Barclays, the bank from which he resigned as chief executive on Tuesday. The FT reports.
In these excerpts from a live interview, Mark Mobius, executive chairman at Templeton Emerging Markets Group, tells CNBC why he is optimistic about Europe.
CNBC's Kelly Evans reports on all the market moving events from Europe, including UK lawmakers voting on the next step for the Libor rate-fixing probe, and an expected rate cut by the ECB.
There is room for optimism that Europe's economy will recover, Mark Mobius, Executive Chairman at Templeton Emerging Markets Group told CNBC on Thursday, as companies in fast-growing emerging markets look to make acquisitions in the region.
Spain’s banking crisis has moved into the courtroom, the New York Times reports.
There is still more agony to come for Spanish banks, the Financial Times reports.
Ray Attrill, Co-Head of FX Strategy at NAB says that the barrier to more QE from the Fed is pretty high.
Frederic Neumann, MD & Co-Head of Asian Economics Research at HSBC says that markets are focusing on whether the ECB will cut bank deposit rates.
The rate fixing scandal currently engulfing British bank Barclays will not stop at the UK’s borders but is likely to involve banks in a number of countries, Joaquín Almunia, EU Commissioner for Competition, told CNBC Wednesday.
I was in Ischia, off the coast of Naples, during the latest eurozone summit. Many of the Italians present during the award of this year’s Ischia prizes for journalism thought that Italy had won two victories over Germany: in football, at the European championships, and in economics, at the European summit, the Financial Times reports.
The appearance of Bob Diamond, the departed chief executive of Barclays, before a UK Treasury select committee on Wednesday will focus attention on movements in the London interbank offered rate over a crucial two-day period at the height of the financial crisis in 2008, the Financial Times reports.
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The European Central Bank needs to go beyond lowering interest rates – which has already been priced in by markets – to boost growth and authorities may be better off ramping up their asset-purchasing programs instead, economists tell CNBC.
Alastair Newton, Senior Political Analyst at Nomura says that banks will be the targets of political pressure after the Barclays crisis and they will also face more intense regulation from governments.
David Woo, Head of Global Rates and Currencies Research, BofA Merrill Lynch Global Research says the ECB will likely cut both the repo and deposit rates by 25 bps.
Alastair Newton, Senior Political Analyst at Nomura says the IMF's Christine Lagarde is being too optimistic about ESM funds.
Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital Investors says further easing from the ECB and BOE will help the market rally to continue.
Enjoy the hot dogs and fireworks because after the Fourth of July holiday, the market will get hit with three job readings Thursday followed by the main event Friday — the June jobs report.
Shane Oliver, Head of Investment Strategy and Chief Economist at AMP Capital Investors says that the Barclays scandal doesn't indicate there's any Libor fixing going on today.
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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.