The Budget That Stole Christmas: Spain's Rajoy Cuts Festive Bonus in ?65 Billion Austerity Axe
After promising late last week to press the accelerator pedal on spending and tax reforms, Rajoy outlined a serious of major efforts aimed at reducing his nation's budget gap and securing the faith of his European Union partners.
Rotten To The Core? A Quarter Of Bankers Say Illegal Activity Vital For Success
In a survey of 500 financial service workers in the UK and U.S., a quarter said they would need to engage in illegal conduct to be successful, while 16 percent said they would commit a crime - insider trading - if they could get away with it.
Libor Scandal: Barclays Boss Diamond Gives Up $31M Bonus
Ex-Barclays boss Bob Diamond, who will still receive his salary and benefits worth in excess of £2 million, had given up the bonus payment voluntarily according to Barclays executive chairman Marcus Agius.
Are These The Richest Strikers On The Planet? Norway Oil Shutdown Looms Amid Worker Dispute
With the government failing to step in to resolve the dispute -- as it has done three times since 2007 -- Statoil, BP and Eni are preparing to instigate a full closure of output at midnight on Monday, cutting off more than 2 million barrels of oil, natural gas liquids and condensate per day.
Spanish Bonds Hit Unsustainable Levels Ahead Of Euro Summit
The rise comes ahead of a meeting of euro zone finance ministers on Monday, where the delegates are expected to announce the details of the Spanish bank bailout.
Barclays Libor Scandal Claims Third Victim As Bank May Demand Ex-CEO Pay Back £20 Million Bonus
The resignation came as Barclays was preparing to demand American-born Diamond, 60, hand back almost £20 million ($31 million) in bonuses
Nigeria Inks $4.5 Billion Refinery Deal With US Firm
The refineries are aimed at replacing Nigeria's decaying refining infrastructure, which has turned the country into a net importer.
Barclays Boss Bob Diamond Quits Amid Libor Scandal
Initial public and governmental response garnered unified relief that someone has taken responsibility for the spate of banking scandals and damaged relations between its customers.
?The Classic British Banker?: The Rise and Fall of Barclays Libor Scandal Chairman Marcus Agius
So just who is Mr Agius, and how did he get to the very top of Britain's banking tree?
German Domestic Intelligence Head Quits Over Neo-Nazi Murder Blunders
Heinz Fromm resigned as information emerged that officers from the Office for the Protection of the Constitution had shredded key documents relating to the murders of at least 10 people, mostly Turkish immigrants, by the group.
Will London Burn Again? Experts Warn Repeat Of 2011 Riots
Worsening social conditions could cause another flare-up in violence, the officers said.
Five Million 'Test Tube' Babies Born in IVF Milestone
The first test-tube, or in vitro fertilization (IVF), baby was Louise Brown, who was born in the UK in 1978.
It?s All About the Minerals: Why America Shouldn?t Fear China's Rare Earth Monopoly
China, which according to various estimates produces between 90 to 98 percent of the world's rare earth supplies, warned that a decline in its rare earth resources was accelerating.
BOE Governor King Attacks 'Deceitful' Libor Scandal Investment Banks
The evolving scandal, according to King, illustrated the need to separate the retail from invest banking.
'No iPad Killer': Why Google's Nexus 7 Will Extinguish Kindle's Fire
Aggressively priced at $199 for the 8GB model and $249 for the 16 GB model, the Nexus 7 is smaller than an iPad at 7 inches, but it's still packed with impressive innards, including a quad-core Tegra 3 processor, a 1.2-megapixel camera, 1GB of RAM, a 4,325mAh battery and NFC built in. The Nexus will start shipping next month with Google's updated Jelly Bean 4.1 OS.
How High Will it Go? Cyprus Bailout Grows by ?500 Million Overnight
The Bank of Cyprus bailout raises the island's original ?1.8 billion ($2.2 billion) request -- agreed on Monday to support the country's second largest lender Popular Bank -- to ?2.3 billion ($2.9 billion).
'This Can't Continue': Spanish PM Warns Of Skyrocketing Borrowing Costs
Spanish 10-year government bonds have been edging toward an unsustainable 7 percent yield for weeks now, with current yields above 6.8 percent.
Britain Highly Vulnerable To Cyber Attacks; Olympics Attractive Target For Terrorists: UK Spy Chief
Other threats outlined in Evans' inaugural Lord Mayor's Annual Defence and Security Lecture in London on Monday night included Al Qaeda infiltration of Arab Spring countries and potential extremists motivated by the possible collapse of the euro zone.
Ripped Off By A Mac? Why Apple Users May Pay More For Booking Hotels With Orbitz
The controversial move comes after Orbitz found that Mac users on average spent 30 percent more than Windows users on hotels and decided, in a trial, to offer them more expensive options, according to a published report.
Euro Summit 2012: EU Leaders Prepare For Failure Ahead Of 'Make-Or-Break' Meeting
At stake, according to analysts, is nothing less than the future of the euro and possibly of the European Union itself, with markets and global leaders demanding tangible solutions to Europe's rapidly degenerating debt crisis.
European Debt Crisis Hits Overseas Aid To Poor Nations
Spain and Greece, two of the nations worst hit by the European debt crisis, made the largest overseas development aid (ODA) cuts in 2010/11, according to the report.
Staff 'Arrogance' Behind Botched Facebook IPO, Says Nasdaq Boss
Chief Executive Robert Greifeld told a conference of directors at Stanford University's Law School that the exchange had tested its computer systems before the May 18 IPO, but failed to take into account the volume of canceled orders in the run-up to the stock debut, The Wall Street Journal reported.
New, New Labour? Miliband Throws Party Into Tizzy With Anti-Immigration Speech
Miliband not only took a swipe at his predecessors, but at the same time kicked one of the touchiest of subjects for any Labour supporter.
UK Denies Syria's Olympic Head Entry Visa
According to the report, General Mowaffak Joumaa has been denied the visa due to his links to President Bashar al-Assad's regime.
Oracle Boss Larry Ellison Buys Hawaiian Island
Larry Ellison, the CEO of software giant Oracle, is said to have paid between $500 million and $600 million for the 141 square mile Pineapple island.
European Leaders Promise Tighter Banking Union After G20
The announcement has received a warm welcome from international leaders, with many praising European efforts to get to the root cause of the debt crisis.
'Al Qaeda' Gunman Holds Four Hostage in French City of Toulouse
France's BFM-TV said the man had asked to speak to the same elite police unit that shot Islamist gunman Mohamed Merah, who died in a hail of bullets just 100 yards from the scene of today's siege.
'Let Us Enrich ... Or Else': Iran Gives World Powers Ultimatum At Moscow Nuclear Talks
On the second and final day of negotiations in Moscow, diplomats said there was still no agreement between six world powers -- U.S., Russia, China, Germany, France and Britain -- and Iran over Tehran's alleged nuclear weapons program.
G20 Summit To Promote Growth Over Merkel's Austerity Program
The statement, which is expected to be released later today, will undermine the efforts of German Chancellor Angela Merkel, who has become increasingly isolated among her peers over her insistence on an austerity-led European recovery program.
Don't Panic! Mexico Shows G-20 Leaders How Greece Can Recover
With Sunday's Greek election result doing little to ease long-term fears that the country still faces a messy exit from the euro, the G-20 delegates are left speculating how to tackle a spiraling crisis with no clear end in sight.