EUROPEAN UNION

U.S. steps up its push to keep top World Bank role

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The United States stepped up lobbying on Thursday for its pick to retain the top job at the World Bank as emerging markets pushed their view that the time has come for rich nations to share leadership of key institutions.
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Asian Markets Dip On U.S., China Growth Worries

Asian shares eased for a second day in a row Thursday, as investors limited their risk exposures on concerns about growth prospects in the world's two largest economies, the United States and China.
Sudan military

Sudan: World Powers Fear New Civil War

A number of international powers rushed to warn Sudan that recent military clashes near the border with South Sudan are propelling the nations toward war yet again.
American Airlines-US Airways Merger

US Airline Group Drops Suit Against EU Carbon Tax, Looks to UN

A major U.S. airline lobbying group on Tuesday ditched a private lawsuit challenging the European Union's recently-implemented carbon tax for airlines using the trading bloc's airports, calling on the Obama administration and Congress to take up the charge.
European Drinking Habits

WHO: Europeans Named The World's Heaviest Drinkers

People in Europe drink more alcohol than in any other part of the world, downing the equivalent of 12.5 litres of pure alcohol a year or almost three glasses of wine a day, according to report by the World Health Organisation and the European Commission.
Medvedev and Putin

Russia Hardens Stand on Assad; Says Annan’s Offer Is Syria’s Last Chance

Russian President Dmitry Medvedev extended complete support to the UN-Arab League envoy in Syria, saying that Kofi Annan's resolution represented the last chance for preventing the violent insurgency from turning into a civil war. Medvedev's strong message to Syrian President Bashar al-Assad came close on the heels of US President Barack Obama announcing his plans to send non-lethal aid to the Syrian opposition.
A Shell logo is seen at a petrol station in Ankara March 6, 2012.

Sanctions Make It Hard For Royal Dutch Shell To Pay Iran

Royal Dutch Shell PLC has a whole lot of money on its balance sheet, but European Union and U.S. financial sanctions are making it difficult for the major integrated oil-and-gas company to pay an estimated $1 billion it owes the National Iranian Oil Co. for crude purchases, according to Reuters.
A sculpture showing the Euro currency sign is seen in front of the European Central Bank (ECB) headquarters in Frankfurt

Eurozone PMI Drops: Is It A Blow For ECB Operations?

Hopes that the European Central Bank’s operations would help to facilitate a meaningful pick-up in the euro-zone economy were dealt a blow by the release of March’s flash Purchase managers Index surveys according to Capital Economics.
Gold bars

Economic Boom Good For Gold Owners

Another possible scenario, if the situation in Europe continues to improve and we are able to avoid any black swans, involves a robust economic growth period.
Syria's President Assad and wife arrive at a dinner during a EU-Mediterranean summit in Paris in 2008.

EU Sanctions Syrian First Lady

The wife of Syria's leader, Asma al-Assad, will suffer sanctions from the EU, including a travel ban to Europe and an asset freeze.
Obama Putin

Obama, Putin To Meet On Syria, Missile Defense

Putin, now Russia's president-elect, has said he would boycott the Group of Eight summit at Camp David and the NATO conference in Chicago this spring if U.S. missile defense plans weren't scrapped.
Italy's weak bond auction on Tuesday spooked traders, causing a drop in the prices for the country's government bonds

ECB's Draghi Says Worst Of Euro Zone Crisis Is Over

The worst of the euro zone crisis is over and the European Central Bank will act if inflation risks grow, ECB President Mario Draghi said in a German newspaper interview released on Thursday, seeking to ease angst in Germany about price rises.
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Special Report: Chinese firm helps Iran spy on citizens

A Chinese telecommunications equipment company has sold Iran's largest telecom firm a powerful surveillance system capable of monitoring landline, mobile and internet communications, interviews and contract documents show.

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