NEW YORK, July 11- The U.S. dollar was stable against the yen and the euro on Friday as Portugal's largest bank sought to reassure investors about its financial stability. Banco Espirito Santo said on Thursday night that loan losses to the troubled empire of its founding family would not put the bank at risk of running short of capital.» Read More
Chief executives, government leaders and academics around the world are headed to Davos, Switzerland, for the World Economic Forum’s annual meeting this week — a heady power gathering that mixes business, politics and Champagne in the Swiss Alps.
The breakfast conversations on the day before WEF officially starts have a somber tone, with discussions centering on the bombing at the international arrivals terminal at Moscow's Domodedovo Airport.
At least for this year, the euro zone will remain united and no country is likely to default, analysts told CNBC.com. But debt restructuring is on the horizon for later.
European shares are set to rise for a third straight session on Tuesday, mirroring gains in Asia and on Wall Street.
The Fed kicks off its first meeting of 2011 Tuesday, as key stock indices edge toward psychologically important milestones.
Political and business leaders invited to the World Economic Forum's annual meeting in Davos this week will sift through the blessings and curses of global interdependence that not only brought the world’s economies to a collective low three years ago but also provide the only realistic return to prosperity
European shares are set to edge higher on Monday, tracking Friday's gains on Wall Street.
Day by day, investors in Europe tell me their confidence is growing that the Union is moving decisively towards fixing its problems.
Irish Finance Minister Brian Lenihan will press ahead with a plan to impose a 90 percent charge on bankers' bonuses when the budget bill is published on Friday, newspaper the Irish Independent reported.
Bank of America and General Electric are two heavy weights whose earnings should steer stocks into Friday's opening bell.
Hidden among an otherwise sea of red due to China fears, some markets rallied: Athens' ASE up 2.6 percent, Portugal's PS120 up 1.1 percent and Spain's IBEX spacer up 0.76 percent. More importantly, there's a growing bid under peripheral European debt.
The outlook for GDP growth is better, but hardly exceptional, through the first half of 2011—something in the range of 3.3 percent through mid-2011. Inflation will remain below 2.5 percent and unemployment will remain at or above 9 percent into 2012.
German gross domestic product will likely rise 3 percent in 2011, according to economists at Capital Economics. But their pick for next-strongest euro-zone economy tends to fly under the radar.
Spain is planning to inject billions of euro into the nation's struggling savings banks, known as cajas, according to a report from the Wall Street Journal.
European stock index futures pointed to a lower open on Thursday, with stocks poised to extend the previous session's sell-off.
Stocks had their worst day in nearly two months Wednesday and could hit more bumps Thursday.
Not only is the Euro making gains—this morning it's importantly broken key resistance at 1-$-35.
Expanding the EFSF is not the right solution, said Andreas Treichl, the CEO of Erste Bank, the Austrian-based bank focused on lending in Eastern Europe. Treichl added that one way or another, Germany will ultimately end up picking up the bill.
European shares were set to edge up on Wednesday, tracking gains on Wall Street and in Asia, on robust earnings overnight from U.S. technology firms.
Support was rising Monday for plans to increase the lending power of the rescue fund for the debt-laden euro zone countries. The New York Times reports.