Global Economy

Big changes ahead in Greece?

A radical leftist was elected as the new Prime Minister of Greece, which is setting the stage for a showdown with the nation’s biggest lenders.

Angelos Tzortzinis | AFP | Getty Images
Alexis Tsipras, leader of the radical leftist party Syriza, delivers a speech during a congress of the party in Athens, on January 3, 2015. Syriza.

Greece has a new government, led by left-wing, anti-austerity Syriza – an event that has heightened fears about the country’s economic future and relationship with the other 18 countries that use the euro. Syriza, led by Alexis Tsipras, have agreed to go into coalition with the Independent Greeks – a right-wing, anti-bailout party led by …

U.S. talks with Cuba begin

Eamon Javers reports from Cuba where talks kicked off between U.S. and Cuban officials, aimed at normalizing relations and opening up commerce.

ECB unveils stimulus plan

The European Central Bank announced a massive stimulus program to get the struggling eurozone economy growing again.

Emmanuel Dunand | AFP | Getty Images
Mario Draghi

European Central Bank (ECB) President Mario Draghi announced the launch of an open-ended, expanded monthly 60 billion euro ($70 billion) private and public bond-buying program on Thursday. The long-anticipated introduction of euro zone government bond purchases will bring the ECB’s buying program into line with the U.S. Federal Reserve’s quantitative easing (QE). The program will …

U.S. talks with Cuba begin

Eamon Javers tells us about a historic meeting in Cuba as a U.S. delegation arrives in the country to re-establish diplomatic and economic ties.

China’s GDP growth slows

Growth in China is the slowest it’s been in 24 years and that may not be a good thing for the vulnerable global economy.

Peter Cade| The Image Bank| Getty Images

Millions of workers around the world could enter retirement with savings diminished by a fifth or more after getting into debt or financial difficulty, HSBC warned in a new report. According to the bank, the impact of the global economic downturn could be felt for decades by the vast number of people who raided their …

Swiss fallout

Stock and currency markets are still grappling with Thursday’s surprise move by the Swiss National Bank to unhinge its currency from the euro.

Canada’s oil shock

Toronto, one of the leading financial centers of the world, is feeling the impact of tumbling oil prices.

Yuri Gripas | Reuters

International Monetary Fund chief Christine Lagard said Thursday the Swiss central bank’s announcement that it would remove a 3-year-old cap of 1.20 francs per euro was “a bit of a surprise.” The IMF managing director, who spoke with CNBC from the organization’s headquarters in Washington, said she had not been warned about the move ahead …

Simon Dawson | Bloomberg | Getty Images

The Swiss National Bank (SNB) stunned markets on Thursday, when it scrapped its three-year-old peg of 1.20 Swiss francs per euro. In a chaotic few minutes after the central bank’s announcement, the Swiss franc soared by around 30 percent in value against the euro. The franc broke past parity against the euro to trade at …

Eurozone enters deflation

The European Union reported that consumer prices fell 0.2 percent, raising worries about the threat of a Japanese-style deflation.

Petras Malukas | AFP | Getty Images
A buyer picks up euro coins in a supermarket in Vilnius on January 1, 2015.

Think of it as Europe staging a giant 15 percent off sale. With its economy slogging along at a near standstill last year, the euro has slid nearly 15 percent since May. That’s offering travel and shopping bargains to U.S. consumers and anyone else paying in dollars. But American companies selling or doing business in …

KCNA | Reuters
North Korean leader Kim Jong Un in this undated photo released by North Korea's Korean Central News Agency, in Pyongyang.

North Korea continued suffering periodic Internet blackouts since restoring service late Monday night. Dyn Research, the firm that first identified the East Asian nation’s 9-hour Internet outage on Monday, said that the country lost connection with the outside Web twice Tuesday morning. The most recent outage began around 10:41 a.m. ET, the firm tweeted. By …