Talks between Spanish unions and business leaders on labor reform ended without success on Friday, the latest sign that the euro zone is struggling to steer its way out of a debt crisis and into growth.
Major U.S. indexes advanced on Thursday as investors were soothed after China denied a report that it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.
Stock index futures pointed to a rise of about 2 percent at the open on Thursday after China denied a report it was reviewing its holdings in euro-zone sovereign bonds due to the region's debt crisis.
U.S. stock index futures pointed to a rise of about 2 percent at the open on Thursday after China denied a report it was reviewing its holdings of euro-zone sovereign bonds due to the region's debt crisis.
The Australian dollar appears to be building a base in the low USD0.8000s as international financial markets remain volatile.
China is reviewing its euro zone bond holdings because of growing concerns about gaping deficits in countries including Greece and Portugal, the Financial Times reported on Wednesday.
Treasury Secretary Timothy Geithner and Italian Prime Minister Silvio Berlusconi sought to support the battered euro on Wednesday, but the currency extended its decline on a report that China was reviewing its euro holdings.
Gold has exploded recently, making new highs against every major currency in the world.
Some of Wall Street's biggest names said they are frightened and worried by the debt crisis in Europe, but still do not expect a double-dip recession in the United States.
Some 20 European banks agreed to reimburse non-U.S. investors for $15.5 billion of losses from convicted swindler Bernard Madoff's Ponzi scheme, but some Swiss lenders remain holdouts, a lawyer for victims said.
The European debt crisis drew new cries of alarm on Monday as a top White House adviser warned it could slow a global economic recovery, a European Union official sharply critiqued Germany, and investors worried a Spanish bank bailout could signal further distress.
The European Commission's chief accused Germany on Monday of making naive proposals to combat the euro zone debt crisis, while financial markets took fright after Spain bailed out a small savings bank.
The euro fell broadly on Monday, pulling back from gains last week, after the Spanish central bank's takeover of a savings bank added to jitters about debt problems in some of the weak euro zone countries.
The euro struggled to hold on to gains on Monday as investors sold into its latest bounce, while Asia stocks fell to hover just above eight-month lows hit on Friday on fears the euro-area debt crisis will hit world growth.
Greek Prime Minister George Papandreou ruled out defaulting on debt payments or restructuring in a Spanish newspaper interview published on Sunday.
France and Germany pledged on Thursday to work together to solve a European debt crisis and support the euro, patching up a public rift that had rattled markets around the world.
The leaders of Germany and France pledged on Thursday to work together on financial regulation and the euro zone crisis after European discord over debt and new market rules rattled investors worldwide.
The leaders of Germany and France pledged on Thursday to work together on financial regulation and the euro zone crisis after European discord over debt and new market rules rattled investors worldwide.
France unveiled plans on Thursday to add a German-inspired commitment to cutting its budget deficit to its constitution, as European discord over debt and financial regulation rattled global markets.
Germany said restoring confidence in the euro was its top priority, demanding tougher regulation and oversight on Thursday to protect the single currency, and joint EU action on withdrawing support for its economies.
Greece received a 14.5 billion euro ($18 billion) loan from the European Union on Tuesday and can now repay its immediate debt, but still faces a mammoth task to claw its way out of recession.
German investor sentiment fell sharply in May on concern growth will be stifled by a 750-billion-euro ($930 billion) rescue package designed to calm market fears of a wave of Greek-style debt crises.
