EUROPEAN UNION

European Union leaders agreed on Thursday to tighten financial supervision and create pan-European watchdogs to help prevent another global economic crisis.

The European Union did not say today how much it would contribute to fight global warming in developing countries but identified its guiding principles for doing so during a summit in Brussels.

European Union leaders will approve new rules to tighten bank supervision at a two-day summit which starts on Thursday and is intended to show the bloc has the economic crisis under control.

European Union leaders will call at a summit next week for rapid progress on agreeing and implementing new financial regulations to prevent another global economic crisis, a draft summit declaration showed on Wednesday.

European Union leaders will call at a summit next week for rapid progress on agreeing and implementing new financial regulations to prevent another global economic crisis, a draft summit declaration showed on Wednesday.

European Commission President Jose Manuel Barroso declared his candidacy for a second five-year term on Tuesday after electoral gains for his center-right allies strengthened his bid.

World stocks rose on Tuesday, led by a rebound in Europe, while the dollar slipped and investors sought fresh signs that the global economy is at least not getting worse.

Voting began in Britain and the Netherlands Thursday in a European Parliament election which is expected to punish governments that have struggled to cope with the global economic crisis.

The European Central Bank kept its interest rates on hold on Thursday, and markets are turning their attention to the details of its covered bond purchase plan and any clues on whether rates may yet be cut further.

World stocks edged lower on Tuesday after a buoyant session the day earlier and the dollar climbed off its lows against major currencies.

The European Union confirmed Friday a proposal to allocate $154 million (€109.4 million) to France from the European Union Solidarity Fund (EUSF) for fighting the devastation caused by Hurricane Klaus in south-west France in January.

The European Union's executive body will study plans by Google to make millions of books available online after Germany said the Internet company's project flouts EU copyright law.

The president of the European Commission on Wednesday called for an overhaul of the EU's financial supervisory system.

The European Commission will launch a new website, PRESSEUROP.EU, with the support of a consortium coordinated by Courrier International

The European Union proposed on Wednesday creating regulatory bodies to oversee financial supervision across national borders in a shake-up to protect investors and prevent another global credit crunch.

Banks will be more closely scrutinized under European Union plans unveiled on Wednesday to apply lessons from the credit crunch and better protect investors hit by the worst financial crisis in decades.

The European Commission will organise a meeting of European Union industry ministers to discuss the sale of carmaker Opel, a spokesman for the EU executive said on Wednesday.

The European Investment Bank (EIB) signed an agreement valued for €100 million with the Socialist Republic of Vietnam, aiming to mitigate climate change in this region.

The 11th EU-China Summit took place on Wednesday in Prague with Chinese Premier Wen Jiabao joining the summit.

The European Central Bank (ECB) said Thursday the recession in the EU member states would be twice as bad as it projected.

Sales at U.S. retailers fell for a second straight month in April as cash-strapped consumers held back on some purchases, according to a government report on Wednesday that dented hopes the economy was beginning to improve.