Euro zone considering end to future private sector involvement
Euro zone member states are discussing dropping private sector involvement from the permanent bailout mechanism that is due to come into force in 2013, four EU officials said on Friday.
European shares drop, euro at 7-week low
European shares fell and the euro hit a seven-week low on Friday, as a spiraling debt crisis and the lack of a comprehensive policy to contain the damage sapped investor confidence.
Austrian Banks Likely Next Domino in European Debt Crisis
The Austrian banking system is on fire: getting singed not only by the heat of the Eurozone sovereign debt crisis, but also by the immolation of an Eastern European asset bubble the banks had been underwriting for a decade. Stumbling, contradictory guidance from the management of several banks has not helped either. And a stalling Austrian economy is only likely to make things worse
S.Africa direct exposure to euro zone crisis low: Motlanthe
South Africa's direct economic exposure to countries at the epicentre of the euro zone debt problems is low, but the risk of increased trade protectionism as a result of the crisis could harm local exports, Deputy President Kgalema Motlanthe said on Wednesday.
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Canned-Soup Eaters Get Mouthful of Controversial Chemical: Report
People who eat canned versus homemade soup have high levels of bisphenol A (BPA), according to research released Tuesday about the controversial plastic-hardener linked to developmental disruptions in children along with cancer, diabetes and heart disease in adults.
Gold Busts 4-Day Losing Streak on Safe Haven Buying
Gold prices broke a four-day losing streak Tuesday as investors worried about a possible liquidity crisis in the Eurozone sought protection for their money in the yellow metal.
Ukrainian President Allows Tymoshenko to Leave Jail for Treatment
Despite mounting pressure from the U.S. and the European Union, Ukrainian President Viktor Yanukovych has insisted on keeping former Ukrainian Prime Minister Yulia Tymoshenko imprisoned on a conviction of power abuse.
Q+A: The EU clash with Canada over oil from tar sands
The European Union proposes legislation to label crude oil derived from Canada's vast reserves of tar sands, as well as from other sources of unconventional oil, as highly carbon intensive.
Canada oil sector must keep cleaning up act: Prentice
The U.S.-imposed delay of TransCanada Corp's Keystone XL oil pipeline shows Canada's energy industry cannot relax efforts to improve its environmental record, a former top minister in Prime Minister Stephen Harper's government said on Monday.
Eurozone Crisis: Italy, Spain, Greece, Portugal and Ireland in Debt Web
The Eurozone crisis, which has intensified since early 2010, shows no signs of abating and has put several member countries on the brink of default.
Protesters Hold Tahrir, Call for Huge Rally to Oust Army
Egyptian activists called for a huge turnout in protests Tuesday to put an end to rule by the military which also saw its authority challenged by the resignation of the civilian Cabinet, casting uncertainty on elections due next week.
Egyptian Cabinet Resigns Amid Burgeoning Protests
With key parliamentary elections only a week away, Egypt has once again spiraled into turmoil as thousands of protestors in Cairo's Tahrir Square called for the ousting of the military-led, interim civilian government, and getting what they chanted for as the country's army-appointed government handed in its resignation Monday.
EU Patent Dispute Outcome Limits DMD Opportunity for AVI Biopharma
Prosensa announced the outcome of the Opposition Division of the European Patent Office (EPO) ruling on dystrophin exon 51 skipping molecule. Wedbush Securities said the EPO decision, pending any appeal, may effectively prevent AVI BioPharma from marketing its lead exon 51 skipping molecule, eteplirsen, for Duchenne Muscular Dystrophy in the European Union without a license
Greece's New PM Heads for Brussels in the Search for Cash
Greece's new prime minister headed to Brussels on Sunday to fight for the aid Athens needs to avoid bankruptcy, even as one of his coalition backers refused to give a written pledge to support reforms and a public-sector union readied itself for strikes.
Italy's Monti Reviews Nation's Finances Before EU Meetings This Week
Newly installed Prime Minister Mario Monti got straight to work at the weekend, reviewing Italy's parlous finances before a round of meetings in coming days with European leaders to discuss the growing Eurozone debt crisis.
Gaddafi's son captured, scared and without a fight
Muammar Gaddafi's son Saif al-Islam has been captured in Libya's southern desert, scared and with only a handful of supporters, by fighters who vow to hold him in the mountain town of Zintan until there is a government to hand him over to.
EU Reluctantly Agrees to Modest 2% Budget Increase for 2012
This is clearly an austerity budget, as most member states are in the midst of a serious financial crisis, said EU budget commissioner Janusz Lewandowski.
Gaddafi's Son Captured in Libya: Who is Saif al-Islam?
The son of Libyan dictator Muammar Gaddafi is being held by Zintani rebels, authorities confirm, and will face trial for crimes against humanity. But will Saif al-Islam be tried in Libya, or by the International Criminal Court? And what role did al-Islam, once a Western-styled reformer, play in the brutal repression of the February uprisings?
Austerity? EU Boosts Its Annual Budget by 2% for Next Year
European Union negotiators agreed to a two percent rise in the bloc's budget for next year to 129 billion euros ($174 billion), following more than fifteen hours of talks which ended in the early hours of Saturday morning.
Germany's Merkel and the UK's Cameron: She Said, He Said
While German Chancellor Angela Merkel and British Prime Minister David Cameron have tried to put a happy face on their Friday meeting in Berlin, the two prominent European leaders differ sharply on ways to resolve the Eurozone debt crisis.
European bank chief urges action on rescue fund
European Central Bank chief Mario Draghi told euro zone governments on Friday to act fast to get their rescue fund up and running, expressing exasperation at their lack of progress in responding to the escalating debt crisis.
Indonesia's Lion Air roars with record Boeing order
On Friday, Indonesian budget airline Lion Air placed a $21.7 billion order with Boeing, the airplane giant's biggest commercial order on record.
Greek Government Submits New Budget, Vows to Cut Deficit in Half
Papademos’ government also promised that it will not have to enact any further austerity cuts.
Now Cyprus May Need Bailout from Eurozone
The new austerity measures are expected to be opposed by the country’s powerful trade unions.
ECB has Secret 20 Billion Euro Bond-buying Limit: Report
The European Central Bank has secretly imposed a weekly limit of about 20 billion euros ($27 billion) on its euro zone sovereign bond-buying program, according to a report in Germany's Frankfurter Allgemeine Zeitung published on Friday.
Italian Yields Fall on ECB; Contagion Risks Remain
Italian and Spanish government debt yields fell on Friday, as the European Central Bank bought bonds in the secondary market, but held close to unsustainable levels as contagion fears and money market stress raised the pressure for policymaker action.
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