Europe has the largest market for carbon permits in the world. The idea is, the more a company has to pay for permits to pollute, the greater incentive it has to reduce pollution. But the economic slowdown has greatly reduced the cost of permits.

Switzerland's oldest bank, Wegelin and Company, has plead guilty to helping wealthy Americans evade taxes.

European stocks scored gains in early trading after the United States reached a deal to avoid the fiscal cliff, but will the optimism last?

As other carmakers in Europe struggle for their very survival, VW is flourishing thanks in part to its worldwide appeal.

Strong unions and labor laws have kept struggling carmakers from cutting plants in Germany, but that may be about to change.

Last month, Peugeot secured a $9 billion lifeline from the French government to stay out of bankruptcy. In return, French politicians want the struggling company keep jobs, not cut them.

Carmakers in Europe are seeing plunging sales and rising costs — sound familiar? Will European automakers rebound like their U.S. competitors?

The storm clouds are gathering over the European economy. The European Commission says the economy in the European Union will shrink this year and that next year it will only barely grow.

Making good on earlier promises, European Central Bank chief Mario Draghi has unveiled a huge bond-buying program aimed at tackling the European debt crisis.