The Trump administration had argued the president has wide-ranging authority over national security matters.Politicsread more
Sen. Bernie Sanders will announce a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the...Personal Financeread more
Nineteen billionaires released a bipartisan letter on Monday asking the 2020 presidential candidates to support a tax on the American families with the largest fortunes.Economyread more
The major indexes have stretched to all-time highs and are riding one of their best first halves in decades.Trading Nationread more
Six women are running for president. Five of them are career politicians. Then there's Oprah-approved self-help guru Marianne Williamson.2020 Electionsread more
As candidates from Elizabeth Warren and Bernie Sanders to John Delaney jockey for position in the 2020 Democratic primary, business issues will come up in the first debates.2020 Electionsread more
McDonald's said Monday that it gained market share in the informal eating out category for the first time in five years, thanks to its nationwide launch of fresh beef.Restaurantsread more
The brokerage says that the globe is "one step away" from recession as the world's two largest economies head to the G-20 summit.Marketsread more
President Trump issues an executive order that would pressure insurers, doctors and other providers to disclose more information about health-care prices.Health and Scienceread more
J.P. Morgan analyst Stephen Tusa is sticking to his guns when it comes to General ElectricInvestingread more
The planet of Batuu is now open to all Disneyland guests, but that doesn't mean visiting this galaxy far, far away is going to be easy.Entertainmentread 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.