Euro zone inflation defied expectations of a small decline and surged higher in March, an early estimate showed on Thursday, a week before the European Central Bank is expected to raise interest rates to stem price growth.
HSBC is cutting growth targets and raising inflation forecasts following dramatic rises in commodity prices that threaten the global recovery.
The Bank of Spain has ordered the four savings banks or cajas that had been poised jointly to form the new Banco Base to provide details “immediately” of their plans following the collapse of the merger on Wednesday evening, the Financial Times reports.
Italy's president, Giorgio Napolitano, told CNBC the euro zone's third-largest economy was in no danger of going the way of Portugal and Ireland and seek a financial bailout.
The world's biggest economies are recovering from the Great Recession at troublesome speeds: too fast or too slow.
Standard & Poor’s downgrade of Portugal’s five largest banks is wrong and mistakenly lumps Portugal with Greece, Ireland and Spain, the CEO of one of the banks told CNBC Tuesday.
The Bank of Portugal warned on Tuesday of the need for substantial new austerity measures to ensure the debt-laden country meets budget goals, steps that will deepen an expected economic contraction this year and next.
The recent remarks of the St Louis Fed President James Bullard have made it clear he believes it is time to think seriously about an exit strategy from the second round of quantitative easing and this could have big implications for stocks, according to one economist.
Like stocks, the euro has so far this year shrugged off the so-called wall of worry. Concerns that the likes of Greece, Ireland or Portugal could default have not led to euro losses.
Portugal's central bank on Tuesday releases its projections for the country's economic outlook and investors are likely to watch closely for changes in the growth forecast, as the country has been plunged in a political crisis because of its austerity measures.
While some areas of the world have a relaxed attitude to fiscal and monetary policy, Europe, and much of the developed world, puts too much emphasis on tightening, according to Valentijn van Nieuwenhuijen, head of strategy at ING Investment Management.
The twin shocks of the earthquake and tsunami in Japan and the rise in oil prices will not greatly alter growth prospects for 2011 and 2012, according to Willem Buiter, chief economist at Citigroup.
“Not only is there no solution in hand, but there is no inkling that any idea on the table at this summit could plausibly avert a default on substantial portions of euro land’s sovereign debt,” one economist wrote.
The doors of the Geneva Motor Show have just slid open and immediately throngs of reporters and camera crews scramble to reach Fiat's stand.
The world is currently in the middle of historic change that will have as big an impact as the industrial revolution on feudal society, an author told CNBC.com.
Despite mankind's ability to adapt and invent new materials and make use of new resources, humans seem "hopelessly incapable of learning past wisdom and apparently doomed to repeat past follies," according to Dylan Grice, a research analyst at Societe Generale.
Attempts by Germany to renegotiate the structure of the European Stability Mechanism (ESM) just as markets believed things had been settled at the meeting of euro zone leaders last week are an "ominous sign," Simon Derrick, the head of research at Bank of New York Mellon, wrote in a market note.
The euro does not have a stable basis even after the "Pact of the euro" agreed by leaders of the member states, Thomas Mayer, chief economist at Germany's biggest lender Deutsche Bank, told CNBC Thursday.
As investors increasingly shun risk, concerned over developments in the Middle East and Japan, which they fear could derail the recovery, analysts at Barclays Capital are also turning more bearish, advising investors to take positions that are more risk neutral.
This was pegged as the summit to end all summits; the end of the euro-zone debt crisis; a clear road map for the future.