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Cameron and Sarkozy

EU Leaders Reach Fiscal Pact but Give up on Treaty Change

European leaders agreed on stricter budget rules for the euro zone Friday, but failed to secure changes to the EU treaty among all 27 member states, meaning a deal will instead have to involve just euro zone states and any others that want to join.
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Michael Buble rules album chart for 2nd week

Michael Buble continued his reign at the top of the U.S. Billboard 200 album chart on Wednesday with Christmas, as Bruno Mars' single It Will Rain took the No. 1 spot on the Hot 100 chart.
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A cup of coffee is seen on a counter at a McDonald's restaurant in New York

McDonald's November sales beat Street view

McDonald's Corp (MCD.N) reported a bigger-than-expected rise in November sales at established restaurants across the board, led by big gains in Japan, China and a strong showing in its top revenue market of Europe.
Euro banknotes.

Markets Now Seeing Once-Unthinkable Greek Eurozone Exit as Inevitable

Talk of Greece voluntarily leaving -- or being kicked out of -- the eurozone was once verboten. Now bank economists, investors, and even central bankers are talking about it as though it's a done deal. The divide between rhetoric is also growing. Those predicting the future Greek exit are calling it "manageable," while those saying it won't happen are labeling the possibility "catastrophic."
Commerzbank Frankfurt

European Banks' Cash Hole Grows by 7.18 Percent to €114.69 Billion

The European Banking Authority noted banks within the 27-nation European Union need to raise €114.69 billion ($152.8 billion) by June of next year in order to meet the authority's capital requirements. That amount is €8.24 billion, or 7.18 percent, more than the supranational regulator had noted on October 30. The balance sheet apparently worsened at certain banks, most notable in Germany, Belgium and Austria.
Gold profits from bargain hunters, euro gain

Gold Prices Fall Hard on ECB Restraint

Gold prices fell Thursday as the European Central Bank head tapped down hopes of more government bond buying, hammering the euro and boosting the dollar.
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McDonald's November sales beat Street view

McDonald's Corp reported a bigger-than-expected rise in November sales at established restaurants across the board, led by big gains in Japan, China and a strong showing in its top revenue market of Europe.
A sculpture showing the Euro currency sign is seen in front of the ECB headquarters in Frankfurt

ECB Cool on More Bond Buying, Lending to IMF

The European Central Bank doused on Thursday hopes it will aggressively ramp up its bond-buying program and allow the euro zone to lend money to IMF so it can help fight the Eurozone debt crisis.
Mario Draghi speaks during a news conference at the G20 Summit in Seoul.

ECB Cuts Rates to Record Low on Recession Fears

The European Central Bank cut interest rates by a quarter of a point on Thursday to counter the twin threats of recession and deflation in the Eurozone, and is expected to unveil fresh measures to help banks hurt by the bloc's debt crisis.

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