EUROPEAN UNION

World Factory Output Curbed by Troubled Europe

A labourer builds components of wind turbines at a wind power equipment factory in Zouping
Crumbling global demand restrained factory output in Asia and most of Europe in January, business surveys showed on Wednesday, putting pressure on policymakers to shore up growth and counter a spreading malaise.

Greek PM Seeks Reform Backing, IMF Warns on Fiscal Pain

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Greece's prime minister is seeking backing from the country's political leaders for more austerity measures, with the International Monetary Fund warning that long-term commitment to reforms is key to securing a new bailout.
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Asian Stocks

Asian Shares Recover on Greek Debt Hope

Asian shares and the euro rose on Tuesday after Greek Prime Minister Lucas Papademos raised hopes that a deal would be reached this week to avoid a potentially chaotic debt default, but worries over Portugal's refinancing ability capped gains.
Germany's Chancellor Merkel meets with France's President Sarkozy and Italy's Prime Minister Monti shortly before an informal meeting of the European Council ahead of the European Union leaders summit in Brussels

EU States Back Germany's Fiscal Discipline Pact

Chancellor Angela Merkel cemented her political ascendancy in Europe Monday when 25 out of 27 EU states agreed to a German-inspired pact for stricter budget discipline, even as they struggled to rekindle growth from the ashes of austerity.
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Bond Markets Pushing Portugal Back Toward the Brink

Portugal's slide towards becoming the next Greece - needing a second bailout to avoid bankruptcy - accelerated on Monday as untrusting underwriters hiked the cost of insuring Lisbon's bonds to new highs and insisted it be paid up front.
A visitor walks on the Luanling section of the Great Wall, in Huairou District

China Loses Appeal at WTO of Export Restrictions

China lost an appeal at the World Trade Organization on Monday in a case about its export restrictions on raw materials, a ruling that could make it harder for major commodity exporters to withhold supplies on the global market.
A Lloyds bank branch sign is seen in the City of London

FTSE Close Lower as Bank Shares Lead Retreat

Weakness in banks and commodity stocks dragged Britain's leading share index lower on Monday as the protracted search for a Greek bond deal and concerns about economic growth kept investors nervous.
Orange juice, Vitamin C and the common cold

Orange Juice Detained by FDA After Finding Fungicide

Health regulators on Friday detained nine shipments of orange juice from Brazil and Canada that contained traces of an illegal fungicide, and rejected industry calls to overhaul the way they test for the banned substance.
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Irish minister: hard to stay in euro if treaty rejected

It would be difficult for Ireland to remain in the euro zone if its voters rejected a proposed new fiscal treaty, its European Affairs minister said on Monday, raising the stakes in a political battle over whether to put the plan to a referendum.
Pranab Mukherjee

India Won’t Cut Iranian Oil Import, Says Mukherjee

India, the world's fourth-largest oil consumer, will not take steps to cut petroleum imports from Iran despite U.S. and European sanctions against Tehran, finance minister Pranab Mukherjee said on Sunday during a visit to Chicago.
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ECB's Makuch sees some recession risks: report

The euro zone could fall back into recession this year, an ECB Governing Council member said on Monday, adding the bank's non-standard measures were a significant funding and confidence boost.
A Greek and an EU flag fly over the Greece's Finance Ministry in Athens

EU Leaders to Agree on Permanent Bailout Fund

EU leaders will sign off on a permanent rescue fund for the euro zone at a summit on Monday and are expected to agree on a balanced budget rule in national legislation, with unresolved problems in Greece casting a shadow on the discussions.
Herman Nackaerts, left, head of a delegation of the International Atomic Energy Agency, talks to journalists on his way to Iran at Vienna's international airport in Vienna January 28, 2012.

Iran Sends Mixed Signals on Threat of Europe Oil Embargo

Iran sent conflicting signals in a dispute with the West over its nuclear ambitions Sunday, vowing to stop oil exports soon to some countries but postponing a parliamentary debate on a proposed halt to such sales to the European Union.
Smoke rises from the chimneys of an oil refinery near Corinth town, some 80km (50 miles) west of Athens January 24, 2012.

Iran Mulls Long-Term, Very Long-Term, Ban on EU Oil Sales

Iran is considering banning all oil exports to the European Union for five to 15 years, a senior Iranian lawmaker was quoted as saying on Sunday, while the country's deputy oil minister said prices would surge should the EU stop importing Iranian crude.

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