UBS has suspended some of its most senior traders in connection with an international probe into the possible manipulation of interbank borrowing rates, in the latest controversy to hit the Swiss bank since the financial crisis, the Financial Times reports.
Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and the International Monetary Fund have asked it to, in exchange for the 78 billion euro (about $103 billion) bailout Lisbon received last May. The NYT reports.
Reports that Brazil might follow India in purchasing the Rafale jetfighter from French plane maker Dassault Aviation will not only benefit to Dassault, but will also help electronics group Thales, Francois Mallet, managing director head of equity at Kepler Capital Markets said on Monday.
The European Central Bank's rescue of the region's banks by showering them with cheap loans could be creating the conditions for another financial crisis several years from now. The New York Times reports.
For all the struggles that Greece has gone through to satisfy its demanding lenders, Europe’s troubles are not going away, the New York Times reports.
Another batch of the riskiest mortgage-backed securities once owned by the American International Group are being auctioned off this week, according to two people familiar with the matter, a sale that would bring the insurance giant’s 2008 meltdown once step closer to a resolution.
Growth prospects for the merger between Glencore and Xstrata look healthy enough for shareholders to hold on to their stake, according to Jane Coffey, head of equities at Royal London Asset Management.
The Swiss Competition Commission said Friday it has launched an investigation into possible cartel behavior by a dozen banks including the country's two biggest institutions UBS and Credit Suisse.
Investors are predicting that Portugal will be next in line after Greece to impose losses on bondholders as it struggles to meet the terms of a $103 billion bailout agreement struck with international creditors last May. The New York Times reports.
Bowing to mounting evidence that austerity alone cannot solve the debt crisis, European leaders are expected to conclude this week that what the euro zone countries need is a dose of economic growth. The New York Times reports.
The demand for energy is expected to double in the next 40 years globally, as populations grow and access to electricity increases, yet a large-scale, safe alternative to fossil fuels has yet to be built.
During Europe's financial crisis the European Central Bank has been "an anchor of stability and confidence," former president Jean-Claude Trichet said.
Volatility has become a way of life, but people still have to eat. That's why sales at Dupont's agricultural businesses, including seed and insecticide, have been strong, according to CEO Ellen Kullman.
A deal with private investors to swap Greece's debt to a more manageable burden is close to being concluded and the next three days are crucial, Olli Rehn, the European Union's monetary affairs commissioner, said during a debate hosted by CNBC in Davos.
The biggest risk brought on by the euro debt crisis is "Balkanization" – the fragmentation of economic interests according to narrow, mainly national criteria, UK Chancellor George Osborne told CNBC Friday.
The euro has fundamental flaws, with no room for flexibility and Europe needs to move towards a political union as the euro cannot survive in its current format, Dr Gerard Lyons, chief economist at Standard Chartered told CNBC on Friday at the World Economic Forum in Davos.
Proposals for a tax on financial transactions in the euro zone will become reality, Wolfgang Schaueble, Germany’s finance minister, told CNBC at the World Economic Forum in Davos Friday.
There is still a long, hard struggle ahead to fix the U.S. and Europe’s economies, Larry Summers, the Harvard University professor and former Treasury Secretary, told CNBC at the World Economic Forum in Davos Friday.
The European Union's Commissioner for Competition dismissed criticism that moves to block the merger between NYSE Euronext and Deutsche Boerse were indicative of a Europe-wide problem of being too difficult on regulation.
Young people should work for free for up to two years to gain experience, youth and business leaders said at the World Economic Forum in Davos Thursday.