EUROPEAN UNION

Greece is not able to pay back its current debts even over the course of generations, according to Andreas Schmitz, president of BdB, a German bank lobbying group.

The Italian version of the Occupy Wall Street movement turned violent Satudary as protesters in Rome burned cars and smashed shop windows.

The world's leading economies kept pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G20 finance chiefs' meeting.

Microsoft Corp. began the process of acquiring the Internet's leading video chat client, Skype, for $8.5 billion, earlier this year. On May, 10, a deal acceptable to all parties was worked out and, according to a report, the two companies have been given permission to proceed, by both the U.S. Federal Trade Commission and the European Union.

The world's leading economies kept the pressure firmly on Europe to sort out its debt crisis on Saturday with the sense of urgency to be reflected in a communique at the end of a G-20 finance chiefs' meeting.

A successful outcome for the next global climate change conference in Durban would be to get everything in place for a legally binding successor to the Kyoto Protocol in less than five years, the European Union's chief climate negotiator said.

Friday's market rally has taken the Dow Jones Industrial Average to positive territory for the year.

Bashir has been welcomed in the Malawi capital of Lilongwe by government officials in order to attend a trade summit.

The credit agency’s downgrade of Spain follows a similar cut by Fitch Ratings last week.

The Eurozone debt crisis will dominate a summit of G20 finance chiefs and central bank heads in Paris, with a downgrade of Spain's credit rating highlighting the risk of a much larger economy than Greece coming under threat.

G20 finance chiefs and central bank heads meet in Paris on Friday urgently needing to find a convincing solution to a deepening euro zone debt crisis that has fanned fears of a global slide into recession.

Asian shares inched down on Friday, tracking New York and European shares lower as weak Chinese trade data raised concerns about the global economy, while the euro eased after another sovereign debt ratings downgrade.

Asian shares inched down on Friday, tracking New York and European shares lower as weak Chinese trade data raised concerns about the global economy, while the euro eased after another sovereign debt ratings downgrade.

Former Ukrainian Prime Minister Yulia Tymoshenko was found guilty of abuse of power and sentenced to seven years in prison on Tuesday, but her legal troubles are far from over, and the government has now accused her of embezzling $400 million.

Slovakia's parliament ratified a plan to bolster the euro zone's EFSF rescue fund on Thursday, after voting to hold an early election as demanded by the opposition.

Slovakia's parliament voted on Thursday to hold an early election in March next year, meeting an opposition demand and opening the path for ratification of a plan to bolster the euro zone's EFSF rescue fund.

Malawi will allow Sudanese President Omar al-Bashir into the country for a regional trade summit starting on Friday and has no plans to arrest him under an International Criminal Court warrant, a senior government official said on Thursday.

Slovakia's parliament ratified a plan to bolster the euro zone's EFSF rescue fund on Thursday, after voting to hold an early election as demanded by the opposition.

Slovakia's parliament ratified a plan to bolster the Eurozone's EFSF rescue fund on Thursday, after voting to hold an early election as demanded by the opposition.

The European Central Bank reiterated a broad warning on Thursday that any form of government debt writedown that forces the private sector to take losses could damage the euro and the bloc's banks.

The euro zone could fall back into recession and the European Central Bank will discuss cutting interest rates at its policy meeting next month, ECB policymakers said on Thursday.