European Central Bank  asset buying is helping bank earnings, with firms such as Intesa Sanpaolo SpA saying profit doubled in the first quarter as it sold government bonds. (Photograh: FRANK RUMPENHORST/EPA)

The investment of choice for bulls seeking risk, value and domestic growth? European banks. The shares have jumped 28 per cent since a January low, b(...)

Joseph Stiglitz, Nobel prize-winning economist and professor of economics at Columbia University,. Photograph: Simon Dawson/Bloomberg

Joseph Stiglitz hankers after old heroes: Teddy Roosevelt, who broke up John D Rockefeller’s Standard Oil at the end of the Gilded Age in the United S(...)

Greece’s interior minister, Nikos Voutsis: ‘The four instalments for the IMF in June are €1.6 billion. This money will not be given, and is not there to be given.’ Photograph: Alexandros Vlachos/EPA

Greece will be unable to meet its repayments to the International Monetary Fund next month unless it reaches a deal with creditors, Greece’s interi(...)

US stocks fluctuated in early trading, as investors weighed the timing for higher interest rates amid data showing the fastest rise in consumer prices in two years.  Photographer: Chris Ratcliffe/Bloomberg

European stocks were little changed, posting their biggest weekly gain since mid-April. The Stoxx Europe 600 Index slipped less than 0.1 per cent to (...)

When the Oireachtas banking inquiry completes its work later this year, seven years will have elapsed since the onset of a banking crisis. This produc(...)

The Monte Dei Paschi bank logo at the bank’s headquarters in Siena, Italy. Trading in the bank’s shares, which fell as much as 5% in early trade, was repeatedly halted. The highly dilutive cash call is expected to continue to fuel volatility. Photograph: Stefano Rellandini/Reuters

Shares in Monte dei Paschi di Siena were volatile yesterday following the pricing of a €3 billion cash call at a steep discount. Italy’s third-largest(...)

  Four months have passed since Alexis Tsipras’s hard-left Syriza movement swept to power with ardent promises of a new beginning for Greece, an end to austerity and the “humiliation” of troika oversight, and a write-down of the vast national debt. Well, it never happened. Photograph: Alkis Konstantinidis/Reuters

The long and increasingly dangerous standoff between Greece and its creditors is coming to a head. With its economy at a halt after years of turmoil a(...)

Former Central Bank governor John Hurley appearing at the Oireachtas banking inquiry on Thursday.

The European Central Bank (ECB) told the Republic it must stand with its failing banks, the banking inquiry heard.Former Central Bank governor John Hu(...)

John Hurley appearing at the Oireachtas banking inquiry on Thursday.  John Hurley at the Oireachtas banking inquiry on Thursday.

Liquidating one of the Irish banks was “not an option” on the night of the bank guarantee in September 29th 2008, the former Central Bank of Ireland g(...)

The UBS AG company logo hangs above the entrance to the company’s Broadgate offices in London. UBS Group  will pay $545 million to settle US investigations into its role in manipulating currency and interest rates. Photograph: Bloomberg

They were known as the “Cartel” or the “Mafia” among their peers. The unsubtle nicknames were given to a group of traders who at one time worked for f(...)