europe, financial industry

Banks saved, but Europe risks "losing a generation"

Europe has spent hundreds of billions of euros rescuing its banks but may have lost an entire generation of young people in the process, the president of the European Parliament said.

ECB leaves key rate at record low of 0.75 percent

The European Central Bank has left its benchmark interest rate unchanged at a record low of 0.75 percent, holding off on further stimulus even though the euro area remains stuck in recession.

Europe’s Central Bank Holds Benchmark Interest Rate at 0.75%

Financial markets will still be waiting to see whether the bank’s president, Mario Draghi, has other moves in mind.

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Deutsche Bank to axe 1,000 investment banking jobs

Deutsche Bank, Germany's biggest lender, is to cut 1,000 jobs in its investment banking division, the business daily Handelsblatt reported Thursday, quoting "well-informed financial sources".

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S&P, Greek standoff pressure euro zone to boost defenses

Financial markets are unlikely to be derailed by mass euro zone downgrades but with Greek debt talks at an impasse, pressure has been loaded on the bloc to shore up its defenses and glimmers of optimism from last week have been firmly doused.

ING to cut 2,700 jobs, takes Greek bond hit

Dutch financial services group ING is to cut 2,700 staff and contract jobs, it said on Thursday in announcing third-quarter results, slashing the headcount at its Dutch retail banking operations by 10 percent in the face of deteriorating markets.

Senh: The Greek debt crisis takes another bank victim.

MF Global goes bankrupt, is 1st U.S. casualty of European crisis

The Wall Street firm run by former Goldman Sachs Chairman and New Jersey Gov. Jon Corzine filed for bankruptcy Monday morning, making it the first big American casualty of the European debt crisis.