EUROPEAN UNION

Conviasa, which was set up by the government of Venezuelan President Hugo Chavez in 2004, was added to the EU air safety blacklist because of numerous safety concerns as a result of numerous accidents and checks carried out at EU airports.

Saudi Arabia is likely to maintain high oil production in the event consumer countries release emergency stocks, but it will not seek to lure buyers for more oil by discounting its crude, industry sources said.

Unemployment in Spain, where more than half of young people are out of work, rose for the eight straight month in March to a fresh record high, adding to the risk of an economic contraction as the government struggles to cope with its ballooning public debt.

Jurre Hermans, an 11-year-old boy from the Netherlands, has astounded economists by offering a simple solution to the problem of Greek solvency in the European Union. He has been awarded a special mention for the prestigious Wolfson Economics Prize. Five shortlisted entrants have also been announced.

Leaders of the Association of Southeast Asian Nations Tuesday urged the US and the European Union to lift sanctions on Myanmar, following a historic by-election in the country which saw pro-democracy icon Aung San Suu Kyi and her party registering a landslide win.

Sunday's historic elections in Myanmar and the planned North Korean missile launch dominated the agenda at the annual Association of Southeast Asian Nations, or Asean, summit in Cambodia on Tuesday.

Stocks were set to take a breather on Tuesday after the S&P 500 climbed to a 4-year high and ahead of factory orders data and minutes of the latest Federal Reserve meeting.

Stock index futures fell on Tuesday after the S&P 500 climbed to a 4-year high in the previous session as investors awaited factory orders data and minutes of the latest Federal Reserve meeting.

With an economy four to five times the size of Greece, a financial collapse and bailout of Spain would be unthinkable for Europe.

Unemployment in the euro zone grew to 10.8 percent in February, up from 10.7 percent in the prior month and the highest since the euro was adopted as a currency, Eurostat, the statistical arm of the European Commission, said Monday.

U.S. President Barack Obama has already warned that the window of opportunity for a diplomatic solution is rapidly closing, suggesting that a military strike on Iran may be likely at some point.

The FDA rejected a petition that would have banned the controversial chemical BPA, a plastic hardener linked to a variety of health effects such as cancer and neurological issues.

Burmese pro-democracy leader Aung San Suu Kyi won a seat in parliament Sunday, as her National League for Democracy claimed a near-sweep in historic by-elections that will test Myanmar's reform credentials and could convince the West to end sanctions.

Thousands of voters in Myanmar cast their votes in a historic ballot Sunday by which the country's democratic icon Aung San Suu Kyi is set to enter the parliament for the first time.

Eurozone finance ministers agreed at a meeting in Copenhagen on Friday to increase the bailout lending limit to 700 billion euros ($930 billion), a move aimed at reassuring financial markets wary of a Eurozone default and dampening the crippling debt crisis of the past few years.

Stocks and other risky assets rallied Friday, rounding out the quarter with even more price gains on a day that encapsulated the main developments of the year so far: encouraging news out of Europe, better-than-expected consumer sentiment in the United States, and the perceived and steady pull of inflation.

U.S. President Barack Obama is moving ahead with sanctions against Iran's oil industry, in the hope that increased economic pressure will push Tehran into abandoning its nascent nuclear program.

The owner of British Airways PLC gained European Union approval Friday to buy U.K. airline British Midland Airways Ltd., known as bmi, from German owner Deutsche Lufthansa AG for $276 million.

According to Deputy Prime Minister Soraya Sanez de Santamaria the 2012 draft budget will is set to cut government ministry spending by an average of 17 percent.

Italian media has expressed much sympathy for the two men, citing that they were victimized by the economic crisis gripping much of Europe.

The euro zone has fallen into a technical recession, according to Eurocoin, an economic activity indicator, confirming the economic weakness of the battered region.