Italy's making some economic headway and citizens have a choice of two countrymen to thank.» Read More
The world's top banking supervisors gathered on Monday to review remedies to a crisis that has seen a major disruption of the global financial system and risks to global growth.
Spanish energy and infrastructure company Acciona and Italian power utility Enel have gained acceptances for 85.3% of the shares targeted in their tender for Endesa, bringing their combined ownership in the Spanish electricity company to more than 92%.
Euro-zone businesses and households can expect access to bank loans to be tougher in the months to come as banks batten down the hatches in the wake of the credit market turmoil.
Inflation pressures in the euro zone rose to a seven-year high in August and remain in an upward trend, a report said on Friday.
German airline Lufthansa is not planning any takeover bid for Italian carrier Alitalia, a Lufthansa spokesman said on Friday.
The European Central Bank and the Bank of England held rates steady, with policymakers still gauging the full extent of the impact of the global liquidity squeeze.
Excessive foreign exchange volatility is potentially damaging to the global economy, European Central Bank President Jean-Claude Trichet said on Thursday.
ICAP, the world's biggest inter-dealer broker, said on Thursday it expected annual underlying profit to be at the upper end of analysts' forecasts, with recent market volatility helping to boost trading volumes.
Kazakhstan softened its rhetoric on Wednesday in a row over production delays with a group of oil companies led by Italy's Eni, saying it hoped to resolve environmental concerns at the offshore oilfield.
The European Central Bank should leave interest rates on hold for now but consider cutting them if the economy worsens, Belgian Finance Minister Didier Reynders told a French newspaper in an interview published on Wednesday.
The London Stock Exchange Group completed a $2.3 billion acquisition of Borsa Italiana on Monday even as takeover talks swirled about the British exchange.
The Italian government approved a 2008 budget inthe early hours of Saturday morning identifying nearly 11 billion euros in new receipts and spending cuts, though a decision on the thorny question of welfare spending has been put off to October 12.
European stocks ended the third quarter lower, with banks taking the hit, but Federal Reserve rate cuts should help markets calm down in the fourth quarter and even finish the year on a positive note if no other major bad news emerge.
The credit market squeeze helped to drive growth in euro zone corporate borrowing to a record high in August, figures showed on Thursday, as some firms found that their usual funding channels had dried up.
Credit markets eased Wednesday, not from any big improvement in underlying conditions but because the U.S. Federal Reserve is expected to throw moral hazard concerns to the wind and cut rates again in October.
Credit market conditions tightened on Tuesday sending euro money market overnight rates to a three week high as worries about the economic cost of the credit crunch spooked lenders.
European stocks closed mixed under the weight of the impact of the global credit turmoil on the banking sector and with scattered good news from other sectors.
Luxury goods manufacturer Prada on Monday reported first-half revenues up 23%, powered by its Miu Miu brand which surged in Asia.
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Troubled British mortgage lender Northern Rock has taken legal advice about whether to pay out a 59 million-pound (US$119 million) dividend to shareholders, the Financial Times said on Monday.