Key European leaders are calling for greater transparency in world financial markets, meeting Tuesday in London to discuss how they can rescue the turbulent global economy.
Italian Prime Minister Romano Prodi resigned on Thursday after his centre-left government lost a confidence vote in the Senate, prompting opposition leader Silvio Berlusconi to demand immediate elections.
Euro zone growth could come in below 2 percent this year, European Central Bank Governing Council member Klaus Liebscher was quoted as saying on Thursday, but the region is better off than the United States.
Euro zone services growth slumped significantly below forecasts to a rate not seen in over four years this month, but manufacturing growth remained unchanged from December, a key survey showed on Wednesday.
Finance ministers from Europe's top four economies called on Thursday for greater market transparency, full disclosure of losses and better coordination among supervisory bodies in response to the global credit crunch.
As many of you know, I have been following the Gabibbo-Big Red lawsuit for years and noted last month that Western Kentucky had lost what appears to be the first round in their fight against an Italian media company for what they say amounts to the copying of their mascot and turning him into a children's television show star.
There are downside risks to euro zone growth and the European Central Bank will remain flexible on interest rates, Governing Council member Yves Mersch was quoted as saying on Wednesday.
UBS has appealed to its shareholders to back a capital injection by the Singapore government and a Middle East investor but warned it still cannot predict how the subprime crisis will play out.
The European Central Bank left interest rates unchanged on Thursday amid continuing uncertainty regarding the outlook for the economy.
The European Central Bank seems to have little choice but to keep rates on hold this time as well, despite rising inflation. Money markets are still not back to normal and there are signs of a weakening economy.
Major central banks are satisfied with joint efforts to tame money market tensions around the turn of the year but will remain in close contact, policymakers said on Monday.
Euro-zone investors are the gloomiest in 2-1/2 years and their expectations for the next six months are the most pessimistic on record as the credit crunch continues to depress sentiment, a survey showed on Monday.
Telecom Italia is considering selling its unprofitable French broadband unit, sources close to the situation told Reuters on Monday.
High oil prices, driving up the cost of transportation and other services, as well as spiraling food prices contributed to euro-zone inflation staying well above the target while Swiss inflation came in at a 12-year high, data showed on Friday.
European shares ended the first day of trading in 2008 on a negative note Wednesday, as worries over global growth -- exacerbated by evidence of a contraction in U.S. manufacturing -- overshadowed news of consolidation in the banking sector.
European equities ended flat on Monday in thin trade as key markets stayed closed, with the region notching a slender gain of 1.5 percent in 2007, its worst performance since 2002 as a credit crunch whacked stocks.
European shares were broadly lower Friday, as weakness in banking stocks dampened investor sentiment, but U.S. stocks made firm gains at the open on the Wall Street.
Capgemini shares rose on Monday after a newspaper said Wipro, India's third-biggest software exporter, was expected to bid for the French computer consultancy firm.
The European Central Bank is determined to stop increases in oil and food prices becoming entrenched in a broader inflation rise, President Jean-Claude Trichet said in a newspaper interview published on Monday.
Several top central banks including the Federal Reserve and the European Central Bank announced plans to address elevated pressures in short-term funding markets.