The euro zone economy is on the mend after a very weak end to 2011 and there have been more positive signs over the last two weeks, European Central Bank President Mario Draghi was quoted on Thursday as saying.
Researchers discovered the worlds deepest land animal, a kind of insect, 6,500 feet below the ground.
Euro zone private sector business activity shrunk in February, an unexpected turn that has renewed old fears and prompted new concerns of a recession in the region's economy while it lags through a debt crisis.
The climbing oil prices could undermine the U.S. economic recovery and it is an extremely disturbing report for President Barack Obama as it could hurt his re-election chances.
Thousands of young Portuguese have migrated to Mozambique in recent years – reportedly as many as 120,000 in 2011 alone.
Tuesday's long-awaited second rescue package for Greece steadied the euro and removed the immediate threat of a disorderly bond default, but markets remained cautious in early morning trading, fearful of what lies ahead for the stricken country.
Oil traded near the highest price in nine months following expectation of increasing demand as euro zone finance ministers agreed on a rescue package for Greece.
For some observers, Greece can seem like a small problem in a distant land, incapable of affecting U.S. investors. But in the financial crisis era, that is most certainly not the case.
Eurozone finance ministers meet Monday to resolve all the issues surrounding the 130 billion euros ($170 billion) bailout package for Greece. The question remains what will happen to Greece without this rescue package.
Iran has ceased oil exports to the UK and France in reply to European Union's decision to ban purchases of Iranian crude that were planned to begin in July.
Like drunks at a bar door, the euro zone's governments and banks are leaning unsteadily on each other for support.
Pope Benedict, putting his mark on his Church's future, on Saturday inducted 22 men including India's George Alencherry into the exclusive group of cardinals who will one day elect one of their own to succeed him as leader of the world's 1.3 billion Roman Catholics.
While threats that could pull down global economy are never far away, recent data depict a brightening outlook according to IHS, a global business and economic information provider.
The U.S. economy is growing at a respectable 2.8 percent annual rate, the U.S. jobs market has added 243,000 nonfarm payrolls in January and the S&P 500 Index is up eight percent year-to-date. Nouriel Roubini's economic prediction for 2012, however, is still decidedly bearish.
Europe needs to take the reins to tackle its debt crisis and prevent a spread that could damage the global economy, senior U.S. officials said on Thursday, as they stressed that more funding from international lenders is not what Europe needs.
Moody's Investors Service placed 114 financial firms , as well as 17 banks and securities firms with global capital markets operations, under ratings review due to the ongoing Eurozone crisis.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
Nestle echoed the cautious outlook for 2012 of other global food makers on Thursday as it said it was banking on new markets and products to put it ahead of the field after it posted forecast-beating 2011 sales growth.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
MADRID - The Spanish economy shrank for the first time in two years in the fourth quarter, the start of what economists fear could be a prolonged slump as Madrid implements harsh austerity measures to deflate a massive budget deficit.
