Pro-EU parties are set to hold onto two-thirds of the seats at the EU Parliament.Europe Politicsread more
The projected result comes shortly after Conservative Party leader Theresa May announced her resignation as prime minister on Friday morning.Europe Politicsread more
Stocks in Asia were were mixed in Monday morning trade as investors watched for developments from U.S. President Donald Trump's state visit to Japan as well as results from...Asia Marketsread more
Sources say the talks, which have been happening over the last several weeks, have picked up speed in recent days and could lead to an announcement regarding a merger or...Autosread more
Biden had criticized Kim Jong Un as a "dictator" and a "tyrant" at a recent rally in Philadelphia. North Korean state media responded by calling Biden a "fool of low IQ" among...Politicsread more
Book income helped self-proclaimed socialist Bernie Sanders join the millionaire class, a group he has often criticized during his decades in politics.Politicsread more
Exit polls showed National Rally, a re-branding of Le Pen's National Front, beating Macron's party by just one seat.Europe Politicsread more
Stocks that are most prone to swine flu fears include Bloomin' Brands, Phibro, Darling Ingredients, Deere, and Hormel, according to analysts.Marketsread more
Trump was speaking at a meeting of Japanese business leaders in Tokyo during his state visit to Japan on Saturday.Marketsread more
You should use your summer vacation to unwind from work stress. Here are some tips for disconnecting while you're away.Technologyread more
If you value reliability and quality over a posh cabin and jealous looks, the Lexus LX 570 two-row is the Japanese Range Rover you need.Autosread more
President of the Eurogroup, Jeroen Dijsselbloem, warned on Thursday that deflation fears plaguing the euro zone could become a "self fulfilling prophecy" as investors grow increasingly wary.
Speaking ahead of the European Central Bank (ECB)'s interest rate announcement and news conference, Dijsselbloem, the head of the group of euro zone finance ministers, said the Bank had "grounds to act", as inflation was moving in the wrong direction.
Euro zone inflation fell unexpectedly to 0.5 percent last month, intensifying pressure on Mario Draghi, President of the European Central Bank, to act against the rising threat of deflation.
ECB President Mario Draghi announced a host of stimulus measures on Thursday, including cuts to its key interest rate and the rate on its marginal lending facility, as well as a negative rate on its deposit facility.
Draghi also unveiled the launch of longer-term refinancing operations (LTROs), in which the ECB lends to banks at low interest rates, in order to encourage them to lend to households and non-financial corporations.
In addition, he said the ECB had undertaken "preparatory work" in order to conduct Federal Reserve-style asset purchases in the asset-backed securities (ABS) market.
Furthermore, Draghi said the ECB would cease sterilizing the liquidity injected from its Securities Markets Program. The program involved the purchase of bonds from troubled "peripheral" euro zone countries.
Dijsselbloem, who is also the finance minister of the Netherlands, told CNBC: "The ECB have a mandate, they have to make sure that in the mid-term the inflation stays close to the two percent target—it is not going in that direction, so there seems to be grounds to act."
The euro zone's inflation reading is well below the ECB's target of just under 2 per cent and on a par with March, when it hit its lowest level since autumn 2009.
However, in his speech, Draghi disagreed with Dijsselbloem's concerns that the euro zone could be entering a self-fulfilling deflationary spiral.
Dijsselbloem warned that euro zone deflation issue cannot be tackled by ECB intervention alone.
"What the ECB can do will help I am sure, but it cannot just come from the ECB. National government and joint co-operation in the Eurogroup has to stay strong," he said.
Turning to a potential $10 billion-plus fine the U.S. may impose on French bank BNP Paribas, following a criminal probe on whether the lender broke U.S. sanctions on Iran, Sudan and Cuba, Dijsselbloem said it was "over excessive".
"I do think we have to... find grounds for international harmonization on the level of the fines. If a bank has messed up they should be fined, don't get me wrong. But the height of the fine seems to be over excessive and it's not helping the recovery of the banks," he said.