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A sign hangs in front of a branch of travel agent Thomas Cook in London

Thomas Cook axes 200 Shops, Checks out of 500 Hotels

Thomas Cook will close 200 underperforming shops and 500 hotels and is lining up further disposals, as it battles to cut debt and restore confidence among investors and customers after a bailout by its banks.
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France's President Sarkozy sits next to German Chancellor Merkel and European Commission President Barroso at the EPP congress in Marseille

Global Military Balance Shifts as Economic Winter Hastens Europe’s Decline

A shift in the global military balance is one of the inalienable fallouts of the economic winter experienced by the Western world. While military spending in the U.S., the reigning super power, is increasingly coming under a scanner, the extended defense holiday in Europe signals that the continent’s global influence is on irreversible decline.
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Olympus ex-CEO Woodford: wants no part in breaking up firm

Ousted Olympus CEO Michael Woodford, who is campaigning to regain his old job at the disgraced Japanese company, said on Wednesday that he wanted no part in breaking up the firm, now struggling to survive a massive accounting scandal.
Former Olympus Corp CEO Michael Woodford speaks to reporters upon his arrival at Haneda airport in Tokyo

Deadline Time as Japan's Olympus struggles to Survive

Japan's scandal-ridden Olympus Corp faces one of its biggest challenges to survive as an independent company on Wednesday, when it must meet a deadline to file its second-quarter results or be delisted from the Tokyo stock exchange.
Actress Rooney Mara poses during a press meeting in Stockholm

Critics stamp their approval on Dragon Tattoo

Director David Fincher's film adaptation of The Girl with the Dragon Tattoo earned solid early reviews on Tuesday following its London premiere, and the studio behind it pushed up the release in a crowded holiday season.
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The Kooks aim to make an impact in the U.S.

British band The Kooks wrap up the current U.S. leg of their tour this week, setting their sights beyond their first three records and aiming to score a major hit in America with new music to come.
Europe's Market

Europe's Markets Close Mixed Tuesday After Merkel Comments

European marketss ended mixed Tuesday in thin trade as firmer crude prices boosted energy stocks, although the market cut gains after sources said German Chancellor Angela Merkel was against a raising of the funding limit for Europe's future bailout fund.

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