This year’s rescue plans for Greece and the euro zone were driven partly by rising US anxiety about the risks to global financial stability stemming from Europe’s slowness to take action. The FT reports.
Investors in euro zone bond markets stand accused of letting “animal spirits” affect their judgment on the risk of a European debt default. The FT reports.
Stocks declined after a volatile session, but ended the month with the best September results in 71 years. American Express and Caterpillar fell.
Stocks declined as the session end neared as quarter-end rebalancing, and profit-taking, caused the markets to waver despite positive economic news. American Express and Caterpillar fell.
That's the allegation in a widely circulated paper by an anonymous writer. The paper claims that Spain overstated its GDP from 2007-2009, understated the country’s decline in growth by as much as 14.2 per cent.
Stocks extended losses on the last trading day of the session despite a series of economic reports providing evidence of returning strength in the U.S. economy. Caterpillar and Hewlett-Packard fell, while Boeing rose.
U.S. stock index futures rose after the government report jobless claims were better than expected, and the reading on second quarter GDP was revised slightly higher.
New EU banking regulation must focus on institutions’ individual business models, rather than simply their size, Jacques de Larosière, co-president of think tank Eurofi told CNBC.
The question whether the single European currency will survive the current crisis is "silly", Otmar Issing, president of the Center for Financial Studies and a former ECB board member told CNBC.
Demand may be strong for bonds issued by periphery euro-zone countries but those countries must restructure their debt at some point because yields are unsustainably high, two economists told CNBC Wednesday.
The ANSA news agency says Italian financial police have seized euro23 million ($30 million) from an account in the Vatican bank in an investigation into money laundering.
Options trader Jon Najarian has a potential takeover candidate on his radar after spotting some unusual activity in the financials Friday.
The European Union agreed to create new financial oversight institutions Tuesday, hoping to prevent a repeat of the government debt crisis that nearly left Greece bankrupt and brought the European banking system to its knees.
"No actor, no product, no sector, no territory should no longer be able to escape sensible and intelligent regulation and supervision," Michel Barnier, the EU Commissioner for financial services, warned in an interview with CNBC.
September and October hold bad news for stock markets and banks remain overleveraged as we head into the second leg of the financial crisis, says Pedro De Noronha of Noster Capital.
When the European Union stepped in this spring with a €750 billion ($955 billion) rescue package to back Europe’s weaker economies, the threat of imminent default practically disappeared, the New York Times reports.
Santander has rekindled talks in recent weeks with M&T Bank over a merger of the US operations of the Spanish lender with the regional bank based in Buffalo, New York.
Spanish traffic cops angry over a pay cut and other slights are slapping wrists rather than writing tickets.
Unprecedented actions by central banks and governments across the world have averted a melt-down in the global economy but commentators say we are not out of the woods yet.
Behind the revival in confidence in Greece lurks fear things could still fall apart, the Financial Times reports.