A slew of sharp interest rate cuts on Thursday showed the world's central banks have redoubled their willingness to ease policy as far as it takes in their ongoing battle with the worst financial....

There aren’t many reasons to be cheerful at the moment, but the massive collapse in the oil price is one of them. As recently as July, oil scaled the record-breaking heights of $147 a barrel &nd....

Offshore haven Liechtenstein has agreed a landmark deal with the U.S. to drop bank secrecy in cases of tax evasion and could make similar concessions in the European Union, a diplomat from the Alpine ....

Greece approves EUR28 bln bank support plan

Greece gave final approval to a EUR28 bln bank support plan aimed at ensuring access to loans for small- and medium-sized businesses, which make up over half its slowing economy. Parliament approved t....

Global Property Guide downgrades Dubai

Gross rental yields on residential property in Dubai have dropped to an average of 5.52%, significantly down from an average of 7.5% a year ago, according to the latest Global Property Guide research.....

EU aims to close loopholes in savings tax law

European Union regulators announced proposals on Thursday that aim to close off loopholes in the EU's strict tax rules and crack down on tax evasion linked to cross-border investments. The id....

Barclays Wealth expects another $500 bln stimulus package

The front cover of the New Yorker magazine this week said it all: a tiny patch of blue light at the end of a deep, dark tunnel. For Democrats in America, Barack Obama’s victory after eight years....

Europe's banks use relaxed EU accounting rules to boost profit

Two of Europe's big banks used newly relaxed EU accounting rules to boost their profits while a top executive said he saw no light at the end of the financial crisis tunnel. Deutsche Bank AG, t....

UK regulator to require CFD disclosure next year

The UK Financial Services Authority said on Thursday it planned to make investors disclose holdings of more than 3 percent in companies through contracts for difference (CFD). The FSA said the fin....

Piraeus Bank Q3 profit up 12.5%

Piraeus Bank's third-quarter profit grew 12.5 percent year-on-year, above forecasts, with the bank's chairman expecting loan growth to slow in the fourth quarter because of adverse market co....

Oil near $82, Goldman cuts price forecasts

Oil rose above $82 a barrel on Monday after governments around the world acted to boost confidence in the global banking system, spurring a rally in European and Asian stock markets and commodities. ....

Developed world recession unavoidable--EIU

Economist Intelligence Unit comments on concerted action by policymakers to restore confidence in the financial system. OVERVIEW The size and comprehensive nature of the UK government's r....

Europe – Financial crisis rolls on says Citi

The German government announced that it will guarantee all private German bank deposits, covering both existing accounts and future ones. Details of the new scheme are unclear, but apparently it will ....

Lewis Charles UK Equity Strategy: Sell a bounce into non-cyclical value

The UK economy is likely headed into a recession. 67% of economists now  believe the UK will go into recession within the next year and this number  has been rising. At 9.5x Earnings the U....

SEC gives banks more leeway on mark-to-market

U.S. securities regulators gave the financial industry a reprieve from marking hard-to-value assets down to fire sale prices, throwing a lifeline to an industry beset by strained credit markets and th....

Energy, resources lead the way in depressed European IPO market

Energy and resources companies proved to be the bright spot in an otherwise depressed European initial public offering (IPO) market in the second quarter of 2008, representing the bulk of capital rais....