Stress tests by the European Banking Authority found BMPS would have the most difficulty covering its loans of 51 of Europe's banks. » Read More
Spain's Prime Minister José Luis Rodríguez Zapatero left the Chinese capital last week convinced he had secured the promise of billions of dollars of investment in Spain’s struggling savings banks, the FT reports.
UK Prime Minister David Cameron ruled out any bid by former Prime Minister Gordon Brown to take the top job at the International Monetary Fund (IMF) on Tuesday, saying Brown was in denial about the economic crisis.
The International Monetary Fund (IMF) sees no reason for a restructuring of Greece’s debt at the present time, John Lipsky, first deputy managing director of the organization told CNBC.
Syngenta on Friday reported 13 percent rise in first-quarter sales which beat analysts' expectations and said it continued to see strong growth in emerging markets.
Back in 1997, Thailand commenced its own banking crisis. The conventional wisdom was that the Thai economy was too small to affect other countries in the region. Nevertheless, the Asian crisis was soon in full swing, bringing down governments and moving from South East Asia to the whole of the region.
In 2009, as the financial crisis entered its darkest days, G20 leaders descended on London for a meeting aimed at bringing the world economy back from the brink.
It is the trillion dollar question that is stalking markets across the world. Can the global economy stand on its own two feet once the Federal Reserve, and other central banks, step back from extraordinary measures to boost growth?
As austerity measures kick in and the euro zone debt crisis begins to really bite voters where it hurts, in the pocket, extreme political parties are becoming mainstream, warns Dylan Grice, a strategist at Societe Generale in Paris.
“It’s the brave action of this government that has lifted our country out of the danger zone,” said UK Prime Minister David Cameron in a speech in Manchester on Monday. The problem with this message is the data just keeps getting worse.
Rising commodity prices mean investors should stay clear of consumer discretionary stocks, according to Nomura strategist Ian Scott.
Now that Portugal has capitulated and asked for financial assistance, traders are fixated on the potential for its problems to spread.
European finance ministers said Portugal must make deeper budget cuts and privatize state firms in return for a bailout that could be agreed by mid-May.
Stress tests on European Union banks this year will use tougher criteria for measuring capital than last year, according to details released by the European Banking Authority Friday.
While periphery euro zone countries are drowning in a sea of debt and investor reluctance, Eastern Europe – which two years ago sent shockwaves through markets – is now shining away from the limelight.
Many people will applaud the ECB for having the guts and finding the room to re-establish it's inflation-fighting credibility and to step in where the Fed can not because of the state of the American housing market.
The West's attempts to kick-start growth have opened up a 'Pandora's Box' of economic distortions that have taken the emerging world to the outer reaches of economic experimentation, according to HSBC chief economist Stephen King.
The central bank is widely expected to keep rates at their current historic low of 0.5 percent as new data released in the UK this week showed the economic recovery faltering.
Portugal has finally gone cap in hand to the European Union, the European Central Bank is about to raise rates and the market is obsessed by Fed speak and looking for clues on when the second round of creating money — or quantitative easing — will come to an end.
After months of speculation, Portugal last night accepted what many had claimed has been inevitable since the fourth quarter of 2009 and went cap in hand to the European Union as its borrowing costs became unsustainable following another big jump in yields.
Global investors have followed every twist in the ongoing debt crisis engulfing the euro zone. See what countries have the most indebted governments, and how their economies are faring.