The European Commission was embarrassed when The International Herald Tribune reported last December that the commission had bought 21 deluxe espresso makers costing 5,000 euros each, then about $7,500.
Barclays shares jumped Tuesday as Credit Suisse upgraded the stock to "outperform" from "neutral", saying there are chances the bank will use the government's asset protection scheme.
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.
The leaders of the European Union gathered Sunday in Brussels in an emergency summit meeting that seemed to highlight the very worries it was designed to calm.
UBS was sued on Tuesday in a Swiss federal court by wealthy American clients seeking to prevent the disclosure of their identities as part of a tax-evasion investigation by the United States Justice Department.
The Dow Jones EURO STOXX 50 could jump 25 percent over the next two months in a bear-market rally, Roelof van den Akker, chartist from ING Wholesale Banking, told CNBC Wednesday.
The development boom that turned Poland, Hungary and other former Soviet satellites into some of Europe’s hottest markets is on the verge of going bust, raising worrisome new risks for the global financial system that may ricochet back to the United States.
The current global slowdown is hitting those in every economic category, as even the very wealthy rein in spending.
The most obvious pothole on the road to reparation is mark-to-market valuation; and it remains a mystery to me as to why this less than two-year old accounting rule remains the most ignored portion of debate.
The scale of Europe’s recession could be as bad as the decade-long slump suffered by Japan during the 1990s, Marino Valensise, chief investment officer of Barings, told CNBC.com.
It doesn’t take a huge amount of bad news to push investors back into the safe arms of the bond market these days.
Eastern Europe will suffer a more serious recession than Western Europe and the weakness in the region’s banks could drag on their Western counterparts, Moody’s said in a research note Tuesday.
Investors should prepare for the worst as stocks risk pushing to new lows with sellers taking control of the market, Geoff Wilkinson, head of investment research at Mint Equities, told CNBC.
The Fed could cause Zimbabwe-like inflation making the US a 'banana republic,' famous bear Marc Faber said.
Stocks eked out a gain after a rough morning as banks got a boost from market chatter that the government may suspend a controversial accounting rule blamed for much of the contagion in the financial industry.
The euro will not be around in the next 20 years, but Britain would have been better off had it joined the single European currency when it had a chance, legendary investor Jim Rogers told a British newspaper.
Officials in Washington try to figure out how to shore up banks that once ruled the financial world but now seem to weaken by the day, despite receiving hundreds of billions in aid.
Voices in favor of nationalizing major UK banks to save them from a mauling in the markets strengthened, sending banks' share prices into a roller coaster of hope and dismay.
Irish property tycoon Patrick Rocca was found dead in a suspected suicide Monday, according to several published reports.
Here in Abu Dhabi, exactly 7,095 miles from Washington D.C. where President Obama will be sworn in this week, the great and the good of the energy world will be discussing, amongst other things, the key issue surrounding future energy: who's going to pay for it?