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Euro Zone Unemployment Grows By 110,000 In April

Some 110,000 people were added to the unemployment rolls of the 17-nation euro zone in April, the statistical office of the European Union reported Friday, once again setting a record high, as every country in the common currency agreement save for Austria, Germany and Ireland reported a deteriorating labor condition. The unemployment rate held steady at 11 percent.

Shares of Gold Miners Shoot Higher as Metal Regains Safe-Haven Status

New Gold's El Morrow mining project
Shares of big gold mining companies rocketed higher Friday as the yellow metal regained its status as a safe-haven amid growing fear that the American economy may not be able to offset the combined drag of the euro zone crisis and sharply decelerating growth in China and India.
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European Fears Flare

In a direct statement overnight the European Commission has said it would consider directly recapitalizing troubled European banks via the European Stability Mechanism
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EU Recommends Bank Bailout 'Union'; Germany Shoots Down Plan

The European Union recommended Wednesday that the 17 countries of the euro common currency union create and fund a banking union for bailing out insolvent banks, preventing the fiscal and political stresses such moves have on individual national governments. The union would be funded by the European Stability Mechanism, one of the EU's standing bailout funds.
US Stocks

Global Equities Advance, U.S. Data Eyed

European stocks recovered from early losses Tuesday as traders anticipate the U.S. data to show improving consumer confidence and a stabilizing housing market. Meanwhile, Asian equities rallied for a second straight day on hopes that China may introduce further stimulus policy. U.S. index futures rose.
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Eurovision 2012 [RESULTS & VIDEOS]

The Eurovision 2012 results this weekend placed Sweden on top with 372 points, Russia second with 259 and Serbia third with 214. Host country Azerbaijan was fourth with 150 points. Norway finished last with just 7 points.

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