CNBC's Simon Hobbs reports on all the market moving events in Europe today, including first quarter global growth at the European market close. » Read More
The recent rise in stocks and talk about green shoots in the markets are optimistic assumptions, as the world downturn "still has a way to run," Hugh Hendry, Chief Investment Officer at Eclectica, told CNBC Tuesday.
"As the Fed and the BOE have become more sane by printing money the so called gurus like Soros and Buffett suffer a deficit of sanity. They are saying the actions of these central banks will lead to inflation. I contest that," Hugh Hendry told CNBC.
Swedish bank Swedbank reported Thursday a first-quarter net loss, disappointing analysts' expectations for a profit, due to large provisions for loan losses in its hard-hit Baltic operations.
The once-booming CEE is stealing the limelight again but this time for less palatable reasons. As one analyst put it, "Eastern Europe's problem is a greater weight on the Western European nations than the subprime is in the United States."
Toxic debts racked up by banks and insurers could spiral to $4 trillion, new forecasts from the International Monetary Fund are set to suggest, British daily The Times reported on its website without citing sources.
The US dollar will remain the world's reserve currency for a while and it is probable that the world economy will start growing next year, with China, Brazil and India among the first to bounce back, billionaire investor and currencies expert George Soros told CNBC.
Why should we pay attention to four-and-a-half hours of debate followed by highly choreographed photo ops and a communiqué that most of us could have cobbled together on the back of a swanky hotel envelope?
The Norwegian kroner is "the best currency in the world" and certainly preferable to the US dollar, UK pound and other currencies where governments are practicing quantitative easing, David Bloom, global head of foreign exchange at HSBC, told CNBC Wednesday.
Call it what you will: an act of rebellion; blind myopia; a cry for help … but I'm actually starting to believe in the global recovery story.
The Federal Reserve has no option but to start buying Treasurys as the government's needs for financing are huge, but the government bond market is a disaster in the making, Marc Faber, editor and publisher of The Gloom, Boom & Doom Report, told CNBC.
With AIG set to pay $165 million in bonuses to workers at the unit that nearly brought it down, the list of the insurer's counterparties shows that big European banks were among the top beneficiaries of the taxpayer-financed bailout.
AIG, the insurance giant that received taxpayer-funded bailouts worth $173 billion and sparked a political storm with its plans to pay $165 million in bonuses, revealed the list of its counterparties.
The stock market is still an unsafe place for investors as quantitative easing, by which central banks boost the supply of money attempting to kick-start economies, is unlikely to work, Hugh Hendry, Chief Investment Officer at Eclectica, told CNBC.
We might have strayed a bit from the rulebook on a good dinner party this morning as we sat back and watched hedge fund manager Hugh Hendry of Eclectica lock horns with Liam Halligan, the chief economist at Prosperity Capital and maverick columnist for the UK’s Telegraph newspaper.
Acres of forest have gone to the blade while the mainstream media has debated the issue of bank nationalization, but few if any seem to be prepared to address what seems obvious: the most important banks are already under government control.
At least two dozen US and European banks benefited from the rescue of AIG, with about $50 billion paid out to them since the Fed first gave aid to the insurance giant, the Wall Street Journal reported.
The figure of $1.3 trillion for the exposure of Western banks to the Central and Eastern European region reported by the Bank for International Settlements is too high, Andreas Treichl, CEO of Erste Bank, one of the biggest banks operating in CEE, told CNBC Wednesday.
American International Group should be allowed to go bankrupt because keeping it and other sick financials alive on government support risks ruining the US economy, legendary investor Jim Rogers told CNBC Tuesday.
The unpalatable truth is that equity markets seem the purest measure of investor confidence, corporate health and economic prediction.
The current global slowdown is hitting those in every economic category, as even the very wealthy rein in spending.