EUROPEAN UNION

European Union states headed for a collision course with the bloc's parliament on Tuesday as a spat over how to tackle illegal downloads threatened a wider telecom reform.

European Central Bank President Jean-Claude Trichet on Sunday signaled the bank's likely next move, saying it could cut its headline interest rate but only by an additional 25 basis points.

The European Central Bank can further reduce its headline interest rate, but any cut is likely to be a measured 25 basis point cut, the bank's President Jean-Claude Trichet was quoted as saying on Sunday.

The European Central Bank can further reduce its headline interest rate, but any cut is likely to be a measured 25 basis point cut, the bank's President Jean-Claude Trichet was quoted as saying on Sunday.

World stocks steadied on Friday but were still on track for a sixth consecutive week of gains, while the euro fell on worries about the region's prospects.

The European Commission on Wednesday unveiled plans to accelerate aid to developing countries hit hard by the economic crisis, warning that failure to act could pose a threat to global stability.

U.S. President Barack Obama urged the European Union on Sunday to accept Turkey as a full member of the 27-nation bloc, in remarks rejected outright by France and met coolly by Germany.

World stocks powered higher on Thursday as hopes grew that the U.S. economic decline was reaching a bottom while the euro gained despite expectations of an interest rate cut from the European Central Bank.

World stocks powered higher on Thursday as hopes grew that the U.S. economic decline was reaching a bottom while the euro gained despite expectations of an interest rate cut from the European Central Bank.

Asian stocks shot to a three-month high on Thursday, building a three-day rally on hopes the U.S. economy has bottomed, while the euro was firm before a European Central Bank meeting at which rates may be cut for the last time in a while.

Asian stocks rose on Thursday, with investors seeing a sliver of hope the U.S. economy has bottomed, while the euro edged up before a European Central Bank meeting at which rates may be cut for the last time in a while.

A plan by Spain to grant interest rate subsidies for green cars has won approval from the European Commission, the European Union executive said on Monday.

World’s leading steel company, ArcelorMittal, said Tuesday that the initial 750 Million Euro ($1 billion) bond could increase up to 1.25 billion euro.

European Central Bank President Jean-Claude Trichet said on Monday the bank can cut interest rates further but that its deposit rate was already at very low levels, and added it could use more non-conventional measures to help the troubled banking system.

European Central Bank President Jean-Claude Trichet said on Monday the bank could interest rates further but that its deposit rate was already at very low levels, and added it could use more non-conventional tools to help the troubled banking system.

European Union leaders agreed on Friday to provide 75 billion euros ($103 billion) in new loans to the International Monetary Fund as part of a G20 effort to boost the lender's firepower for fighting global recession.

By Huw Jones

European Union member states hit by the global economic crisis urged the bloc Thursday not to promise the developing world more money to combat climate change than they can afford.

The U.S. dollar edged higher on Friday but still headed for its biggest weekly fall in 24 years on investor fears that it will lose its status as the world's reserve currency, while oil prices ceded ground after a recent rally.

By Rafael Nam

New U.S. housing starts and permits unexpectedly rebounded in February, according to data on Tuesday that provided a rare dose of good news for the recession-hit economy and fractured housing market.