World most famous football club Manchester United has slashed its share price ahead of Friday's IPO; fuelling speculation the club’s heavy debts could impede its profitability. It now expects to gain $233mn, much less that the hoped-for $300mn.
Investors remained jittery Thursday after allegations that Standard Chartered flouted US sanctions in conducting some $250 billion in deals with Iran. The British bank fell more than 25% in market value in the 24 hours following Monday's accusations.
US regulators on Thursday fined Google $22.5 million for violations of privacy for using cookies to track the users of Apple's Safari web browser, a rival of Google's own Chrome browser.
The Banque de France warned Wednesday that it expects France's GDP to contract by 0.1 percent in the third quarter, following a similar fall in the second quarter. If confirmed, it would officially bring the country into recession.
Italy's economy shrank by 0.7% in the second quarter of the year, government statistics released on Tuesday showed, pushing the country further into recession. Italy has been the eurozone’s most stagnant economy for more than a decade.
Apple Inc. faces South Korean tech giant Samsung in a US court Monday as part of a $2.5 billion lawsuit the iPhone maker filed last year alleging that Samsung's smartphones and tablets infringe on the patents of its iPhone and iPad devices.
Spain's unemployment rate rose to 24.63% in the second quarter of the year, official figures showed Friday, while joblessness among young people reached a whopping 53.27%. The country is experiencing its second recession in four years.
US Treasury Secretary Timothy Geithner (right) and German Finance Minister Wolfgang Schaeuble (left) stressed the need for cooperation after talks on Monday but said they had "confidence" in eurozone reforms and moves toward "greater integration".
Eurogroup chief Jean-Claude Juncker (photo) said Sunday the countries using the euro currency are ready to work with the ECB and activate a bailout fund. Jucker added, "There is no more time to lose."
US Treasury Secretary Timothy Geithner faced tough questions Wednesday from a House of Representatives committee, telling lawmakers that regulators had offered an "appropriate" response to 2008 reports that banks were manipulating interest rates.
Moody's downgraded the economic outlook for Germany from "stable" to "negative" on Monday along with outlooks for the Netherlands and Luxembourg, citing risks from a possible Greek exit from the eurozone and potential bailouts for Spain and Italy.
French jobseeker levels rose for a 14th month in June, making 2012 the worst year since 1999. Almost 24,000 people in mainland France registered as unemployed, making the total number of jobseekers almost three million.
The world's wealthiest people have at least $21 trillion in assets hidden in offshore tax havens, a report from the Tax Justice Network said on Sunday, noting that another $32 trillion may be stashed in the Cayman Islands and Switzerland.
The International Monetary Fund on Monday scaled back its global growth forecast for the rest of 2012 by 0.1% and warned of increasing risks in Europe, particularly Italy and Spain, which could "easily derail the world recovery".
