The yen held firm on Friday, while the euro was on track to post its second month of declines as tensions between Ukraine and Russia flared again.» Read More
As the government of Prime Minster George Papandreou struggles to get the nation’s financial house in order — reducing the size of its bloated civil service, chasing after tax evaders and overhauling its pension system — it has also begun to tackle a much less talked about problem: the cozy system of “closed professions” that has existed here for decades, costing the economy billions of dollars a year.
The scale of the swings in the currency markets is "unprecedented," looking at how quickly the dollar has declined in the last month, Derek Halpenny, European Head of Global Currency Research Bank of Tokyo-Mitsubishi UFJ, told CNBC Thursday.
The two men worked out how the computerized system would react to certain trading patterns – allowing them to influence the price of low-volume stocks. The FT reports.
A combination of better data than expected, China’s pledge to buy the country’s bonds and hopes that international bail-out loans will be extended have boosted investor sentiment. The Financial Times reports.
Ireland has opened the door to a renegotiation with senior bondholders of its two nationalized banks despite previously opposing any such move. The FT reports.
The internet giant is using its vast database of web shopping data to construct the ‘Google Price Index’ – a daily measure of inflation. The Financial Times reports.
A small rise in inflation may trigger a correction for the bond market, as too many investors have piled in, Roman Scott, managing director at Calamander Capital, told CNBC Monday.
This year’s rescue plans for Greece and the euro zone were driven partly by rising US anxiety about the risks to global financial stability stemming from Europe’s slowness to take action. The FT reports.
Investors in euro zone bond markets stand accused of letting “animal spirits” affect their judgment on the risk of a European debt default. The FT reports.
Despite mounting public protests across the Continent, an austerity drive unparalleled in modern, united Europe is building, reports the New York Times.
Let the media come up with the negatives. Cramer? He’s focused on what’s going right.
With Greece hitting its marks on the financial bailout earlier this year, it is now taking steps to streamline business and investment processes to promote growth, the country’s finance minister, George Papaconstantinou, told CNBC Thursday.
The euro will keep rising and will likely end the year at up to $1.50, as the European Central Bank pursues a highly deflationary policy, despite buying euro-denominated bonds, economist Warren Mosler, founder and principal of broker/dealer AVM, told CNBC.com.
The latest employment data doesn’t bode well for Friday's widely followed jobs report. Can the rally endure if employers slash more jobs?
While countries have different reasons for devaluing their currencies, one of the common threads is a desire to keep up with the cost of goods from other export-driven nations.
If there is any lesson the Germans should have learnt from two lost wars and the Great Depression, then it is that they must avoid inflation.
US Treasury Secretary Timothy Geithner will call on emerging nations to show more flexibility on currencies in exchange for a greater say in international financial institutions, a Treasury official told CNBC Wednesday.
The head of the International Monetary Fund has warned that governments are risking a currency war if they try to use exchange rates to solve domestic problems, reports the Financial Times.
Every week without fail Lucy Elkin, a comfortably middle-class mother of two small children, receives a £33.20 child benefit payment, or about $52, from the debt-plagued British government, reports the New York Times.
If a global double dip happens, the downside on corporate junk is much more daunting than it is for sovereign debt.