WASHINGTON— Institute for Supply Management releases its manufacturing index for August, 10 a.m.; Commerce Department releases construction spending for July, 10 a.m.. WASHINGTON— Labor Department releases second-quarter productivity data, 8:30 a.m.; Commerce Department releases factory orders for July, 10 a.m.; Federal Reserve releases Beige Book, 2 p.m..» Read More
The euro crisis rumbles on. Prime ministers are changing as a direct result of the currency’s troubles, although really what this illustrates is that the countries affected were already in a lot of economic trouble anyway; it’s just that their membership of the euro currency union speeded up the change in government.
The agreement on the size of the haircut on Greek debt banks will take could have serious consequences for all the so-called PIIGS according to Carl Weinberg, the chief economist at High Frequency Economics.
A month-long rally for stocks and a European Union deal on its debt crisis have lifted investors' mood, but at least one economist is amazed at the reaction to Europe’s latest attempt to solve its sovereign debt woes.
Too many European Union leaders did not understand the gravity of the Greek debt situation following years of failure to adhere to rules on borrowing, the outgoing boss of the European Central Bank told CNBC.
Premium hotels are doing surprisingly well thanks to visitors from the US and BRIC nations. CNBC takes a look at fourteen of the grandest hotels in Europe.
The finance chiefs of the world's leading economies opened the door Saturday for the International Monetary Fund to play a bigger role in fighting the eurozone's escalating debt troubles.
Discord over the euro zone crisis, currencies and global economic governance threatens to overshadow the Group of 20 finance ministers meeting in Paris on Friday and Saturday, the FT reports.
Should we feel confident that the crisis will soon be over? No. At least, nobody now sees the euro zone crisis as a little local difficulty. It has become the epicenter of an aftershock of the global financial crisis that could prove even more destructive than the initial earthquake, writes Martin Wolf in the FT.
Since August the market has been very volatile. Huge market swings for stocks added to a sense of crisis as investors fretted over Greek default, the global banking system and a slowdown in the US economy.
As the Spanish economy fails to drag itself out of the mire created by its debt burden, its Employment Minister Valeriano Gomez admitted to CNBC that it would likely miss growth targets this year.
A positive feedback loop between banks and weak sovereigns is emerging, with a potentially calamitous effect on the euro zone and the global economy, Martin Wolf writes in the FT.
The European Central Bank was buying Italian and Spanish government bonds in the markets on Thursday, traders told CNBC.
Austerity-weary Greeks lashed out against more tax hikes and pension cuts with a new round of strikes, with public transport workers, taxi drivers, teachers and air traffic controllers walking off the job Thursday.
Billionaire investor George Soros said he believed the United States was already experiencing the pain of a double dip recession and that Republican opposition to Obama's fiscal stimulus plans was to blame for sluggish growth.
The IMF has been credited with alleviating past financial crises - but has the IGO been helpful this time around?
Sometimes a summer vacation can set you up for the autumn, allowing you some-hard earned rest to recharge the batteries before returning to the office, light of heart and confident about the prospects for the rest of the year.
International Monetary Fund staff have provoked a fierce dispute with eurozone authorities by circulating estimates showing serious damage to European banks’ balance sheets from their holdings of troubled eurozone sovereign debt. the FT reports.
Some European financial institutions should have taken bigger losses on their Greek government bond holdings in recent results announcements, according to the body that sets their accounting rules in a letter seen by the FT.
The world could be heading into another fully fledged credit crisis, according to Satyait Das, the author of Extreme Money: Masters of the Universe and the Cult of Risk.
The sun has set on Europe. And not a moment too soon. If not for the close of markets today, things might have become even uglier.