European Central Bank

FRANKFURT, Germany (AP) — European Central Bank President Mario Draghi said it was "imperative" that Europe's leaders create a new agency with powers to restructure busted banks in order to help the region leave its economic and financial crisis...

FRANKFURT, Germany (AP) — Germany's central bank expects the country's economy to improve "markedly" in the second quarter — a development that could boost the wider eurozone as it struggles to get out of recession. The Bundesbank said...

Following the chaotic bailout of Cyprus, top European Union officials are saying it's time to rethink how the region manages its crisis — and who should be involved. Here is a look at the key institutions involved in Europe's economic policymaking:...

WASHINGTON — Europe's recession stretched into the first three months of the year, making it the single-currency region's longest downturn and raising concerns about its effect on the U.S. recovery. The 17-nation Eurozone economy contracted 0.2%...

WASHINGTON -- The Eurozone economy contracted 0.2% in the first three months of the year compared with the previous quarter, marking the region's longest recession since its single currency was created in 1999. The 17-nation Eurozone now has been in...

Officials at Bloomberg, the New York financial news and information service, scrambled to deal with an unfolding customer privacy scandal after admitting its journalists had snooped on business clients for years through its network of terminals ubiquitous...

Bloomberg News Editor-in-Chief Matthew Winkler on Monday apologized for allowing journalists “limited” access to sensitive data about how clients used Bloomberg terminals, calling it  “inexcusable." But he insisted that important...

WASHINGTON -- The European Central Bank could reduce the interest rate it pays on excess bank deposits to below zero to boost growth in the recession-plagued region, a top official said. The comments over the weekend by Italian Central Bank chief...

NEW YORK - The price of oil rose more than 3 percent Thursday as the European Central Bank cut its key interest rate to a new low and U.S. unemployment claims dropped. But natural gas was headed for its biggest decline since August after U.S. supplies...

WASHINGTON - U.S. stocks rose Thursday, with the S&P 500 gaining 14.98 points or 0.95 percent, to 1,597.68. This was after the S&P fell almost 1 percent Wednesday in its largest drop in two weeks. Experts believe two factors contributed to the gains....

WASHINGTON -- For most Americans, Europe is out of sight and out of mind. We figure that the worst of its debt crisis has passed. Italy has a new government. To mute social unrest, some countries are slightly relaxing austerity policies. The European...

WASHINGTON -- The European Central Bank on Thursday lowered its key interest rate to a record low level in an effort to spur economic growth in the recession-plagued Eurozone. The central bank's policymakers lowered its main refinancing rate by 0.25...