EUROPEAN UNION

Stocks rose at the open on Friday as debt-laden Italy moved to implement tough austerity measures crucial to avoid a Eurozone meltdown.

Oil -- the lifeblood of the global economy and a critical factor in the growth of U.S. gross domestic product -- is set Friday to close its longest stretch of weekly gains in more than two years, a counterintuitive trend that belies certain economic fundamentals.

The vote tally was 156 to 12 in favor of the austerity. However, opposition lawmakers largely abstained from voting.

The U.S. government on Thursday delayed approval of a Canada-to-Texas oil pipeline until after the 2012 U.S. election, bowing to pressure from environmentalists and sparing President Barack Obama a damaging split with liberal voters he may need to win reelection.

Greeks lauded the nomination of new prime minister Lucas Papademos on Friday and expressed hope his government could put the economy back on track and calm political turmoil that has threatened to force Athens out of the euro zone.

Greeks lauded the nomination of new Prime Minister Lucas Papademos Friday and expressed hope that his government could put the economy back on track and calm political turmoil that has threatened to force Athens out of the euro zone.

Diplomatic deadlock is curbing China's will to provide cash to help end the euro zone crisis after Europe spurned the simplest of Beijing's three key demands, two independent sources have told Reuters.

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Half of Afghan’s female inmate population have been convicted of “zina” or crimes deemed to be in breach of morality.

Record-high exports in September drove the U.S. trade deficit down to its smallest gap since December, extending a decline for the third straight month and down from a peak of $51.6 billion in June. Meanwhile, imports from China dropped slightly.

German travel group TUI AG is going where the world's biggest financial firms have yet to venture.

China's imports surged in October as exports grew at their slowest rate in months, suggesting efforts to tilt the economy toward domestic demand may be offsetting the external weakness that has dragged on economic growth this year.

The head of the International Monetary Fund called on Thursday for political clarity in efforts to tackle the debt crisis that has gripped Italy, saying uncertainty around who would succeed Prime Minister Silvio Berlusconi was fuelling market volatility.

Stock index futures pointed to a rebound on Wall Street on Thursday, with futures for the S&P 500 up 1.1 percent, Dow Jones futures up 0.9 percent and Nasdaq 100 futures up 1 percent at 4:47 a.m. ET.

Political and economic crisis in Italy spurred fears of a split in the Eurozone with borrowing costs for Europe's third biggest economy at unsustainable levels and the bloc unable to afford a bailout.

China's exports in October rose at their weakest pace in eight months, underlining official concern about the sector that has dragged on economic growth this year while imports jumped much more than expected.

South African assets fell on Wednesday when investors were spooked by a ratings outlook downgrade of the domestic economy, which added to market fears over the euro zone debt crisis.

Political manipulation of Congo's security forces has brought crackdowns on opposition parties and may lead to bloodshed in this month's election, the United Nations said in a report on Wednesday.

We have agreed on someone who will unite us, Papandreou reportedly said, without revealing his identity.

Portugal, Ireland and Greece all were forced to accept a rescue package once their national bonds reached that emergency yield.

Negotiations between outgoing Prime Minister George Papandreou and opposition leaders, notably Antonis Samaras, have dragged on into the third day.