EUROPEAN UNION

Gold strengthened Monday in line with gains in shares and the euro after Greece's parliament finally approved a deeply unpopular austerity bill to secure a second bailout from the European Union and the IMF to avoid bankruptcy.

The austerity bill calls for, among other things, 15,000 cuts in public sector jobs; and a 20 percent reduction in the minimum wage.

Greek lawmakers late Sunday accepted terms of a deeply unpopular austerity plan that Eurozone leaders demanded as the price for financially rescuing the debt-choked nation.

Just after midnight Monday, the Greek parliament approved a deeply unpopular austerity bill to secure a second EU/IMF bailout and avoid national bankruptcy, as buildings burned across central Athens and violence spread around the country.

Black-masked protesters throwing petrol bombs created a wall of fire on Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy.

Historic cinemas, cafes, shops and banks were set ablaze in central Athens Sunday as black-masked protesters fought Greek police outside parliament, while inside lawmakers looked set to defy the rage by endorsing a new EU/IMF austerity deal.

Iran has built up its naval forces in the Gulf and prepared boats that could be used in suicide attacks, but the U.S. Navy can prevent it from blocking the Strait of Hormuz, the commander of U.S. naval forces in the region said Sunday.

Historic cinemas, cafes and shops went up in flames in central Athens Sunday as black-masked protesters fought Greek police outside parliament, while inside lawmakers looked set to defy the public rage by endorsing a new EU/IMF austerity deal.

Black-masked protesters throwing petrol bombs created a wall of fire Sunday outside Greece's parliament as lawmakers inside looked set defy public rage by endorsing a new austerity deal to secure an EU/IMF bailout and avoid national bankruptcy.

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control this week.

Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be economic chaos, and Germany demanded Greece dramatically change its ways to stay in the euro.

Greek lawmakers looked set to agree to a deeply unpopular bailout deal on Sunday to avert what Prime Minister Lucas Papademos warned would be economic chaos, and Germany demanded Athens dramatically change its ways to stay in the euro.

Global airlines on Sunday called for a deal brokered by a United Nations agency to avoid an impasse between China and the European Union over jet pollution spilling into a trade war. Airlines are being squeezed between conflicting laws, the head of the International Air Transport Association said.

Tens of thousands of protesters took part in rallies across Europe on Saturday against an international Anti-Counterfeiting Trade Agreement they fear will curb their freedom to download movies and music for free and encourage Internet surveillance by governments.

Greek conservative leader Antonis Samaras said on Saturday that all his New Democracy party's lawmakers must vote for a European Union/International Monetary Fund bailout law or face being dropped as parliamentary candidates. This is obviously an issue of party discipline, he said.

Syrian forces unleashed new tank and rocket bombardments on opposition neighborhoods in Homs on Saturday while diplomats sought United Nations backing for an Arab plan to end 11 months of bloodshed in the Middle Eastern country.

Despite a mediocre earnings season and signs of an overbought market, Wall Street bulls are likely to remain in control next week. There are a number of catalysts that have helped the market this year, including a slew of improved economic data and the Federal Reserve's vow to keep interest rates low.

The Greek government told rebellious lawmakers on Saturday to back a deeply unpopular European Union/International Monetary Fund rescue package in parliament or send the nation down an unknown, dangerous path to default and international economic isolation.

Greek lawmakers will vote this weekend on a controversial austerity bill that Athens needs to avoid a messy default but which is fuelling a domestic political and social crisis that has brought thousands of Greeks out on the streets in protest.

Bipartisan group of senators have introduced a resolution asking the Obama administration to rev up its work with the international community to address the crisis in Syria.

Papademos, who himself has only been in office for three months, might also take the opportunity to reshuffle the cabinet.