Financial markets held their breath on Tuesday as Italian Prime Minister Silvio Berlusconi's reform-shy government teetered on the brink and debt-crippled Greece's leaders struggled to put together a national unity government.
Greek party leaders were struggling Tuesday to agree on a new prime minister, under pressure from the European Union to push through a bailout to save the country's finances and end the chaos threatening the euro.
Societe Generale , France's second-biggest listed bankon, scrapped its 2011 dividend on Tuesday to help bolster capital when reporting quarterly profit fell sharply, hit by charges including Greek debt writedowns.
Asian shares wiped earlier gains and fell anew Tuesday, weighed by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.
Asian shares rose Tuesday, but gains were capped by concerns that surging bond yields could stifle debt-ridden Italy's fund-raising ability and throw the euro zone deeper into financial turmoil, while Greece struggled to pick a new leader.
Italian government bond yields soared to near 15-year highs, putting the Eurozone's third largest economy front and center of the region's debt crisis, despite scrambling efforts by policymakers to stem the growing contagion.
Nicaraguan President Daniel Ortega won re-election by a huge margin on Sunday, beating the conservative Fabio Gadea with 62 percent of the total votes after 86 percent of polling stations reported results.
European Central Bank policymaker Juergen Stark sees the euro zone crisis over in the next year or so as politicians have started to realize the need for painful action.
Airlines such as Delta, JetBlue and United Continental have begun offering more flights to Cuba through licensed charter companies.
The Republic of Georgia's President, Mikheil Saakashvili, vowed to transform the small resort town of Batumi into the nation's economic and cultural powerhouse. Stephen Robert Morse traveled to Batumi to investigate Saakashvili's progress.
Gold and silver mining company stocks got a boost Monday from the rising price of their metals and a global resurgence of safe-haven investing.
Venizelos, a long-time rival of Papandreou, is believed to covet the job of Prime Minister.
Euro zone governments rushed to placate feverish bond markets on Monday as the 17-nation currency bloc's debt crisis threatened to accelerate out of control.
Stocks were poised for a lower open on Monday as political turmoil in Italy sparked worry the euro zone debt crisis could overwhelm the region's third largest economy.
Greek political leaders were set to choose who will lead a new coalition on Monday and push through a bailout before the country runs out of money in mid-December, with local media tipping former ECB deputy head Lucas Papademos for the job.
Germany Economy Minister Philipp Roesler said on Monday the country's gold reserves with the central bank cannot be touched, adding his voice to opposition to an idea reportedly discussed at the G20 summit of using reserves to boost euro zone bailout funds.
Retail sales in the 17 countries sharing the euro fell more than expected in September despite some resilience in powerhouse Germany, the EU's statistics office said on Monday, reinforcing concern that the bloc's economy may be heading for a recession.
Gold prices climbed from eastern Asia to Western Europe Monday as worries about Europe's sovereign debt crisis spreading to Italy offset news that Greece's prime minster will resign.
Is sentiment in Washington shifting from one of modest deficit reduction to large deficit reduction, including a revenue increase? It may very well be, if the views of two key lawmakers are any indication.
Greek Prime Minister George Papandreou sealed a deal with the opposition Sunday night on a crisis coalition to approve an international bailout, but details remain thin despite an EU ultimatum for Athens to get serious about tackling its huge problems.
Greek Prime Minister George Papandreou sealed a deal with the opposition on a crisis coalition to approve an international bailout, but details remain thin despite an EU ultimatum for Athens to get serious about tackling its huge problems.
Countries in the Eurozone will find it increasingly unattractive to stay in the single currency, if there is a German-led fiscal integration, the chairman of Goldman Sachs Asset Management said in a Sunday Telegraph interview.
