EUROPEAN UNION

Stock index futures edged up Tuesday after upbeat data from Germany offset ratings agency Moody's downgrade of six euro zone countries.

The European Union is likely to take action against Spain's newly installed government by May for delaying austerity measures ahead of a regional election next month, sources familiar with the situation told Reuters.

Output at factories in the euro zone tumbled in December, reflecting a sick European economy that probably shrank at the end of 2011 but it is hoped will recover this year.

Futures on major U.S. stock indices pared earlier losses and point to a slightly higher opening Tuesday ahead of of economic data including retail sales.

The summit comes a day right after Moody's downgraded its ratings for Italy, Spain and Portugal, with a negative outlook for France, Britain and Austria.

Moody’s has cut the debt ratings of Italy, Spain and Portugal and put France, UK and Austria on warning, saying they were increasingly vulnerable to the eurozone crisis.

Greek political leaders say the nation must accept yet more punishing austerity or face a social explosion, but after a night of violence and destruction in Athens, some people fear this explosion may already be about to begin.

Ratings agencies Fitch lowered its ratings on four big Spanish banks while Standard & Poor's cut its rating for the industry as a whole on Monday following recent sovereign downgrades and on concerns of funding difficulties and a weak economy.

Ratings agencies Fitch lowered its ratings on four big Spanish banks while Standard & Poor's cut its rating for the industry as a whole on Monday following recent sovereign downgrades and on concerns of funding difficulties and a weak economy.

General Electric Chief Executive Jeffrey Immelt on Monday defended the U.S. Export-Import Bank against charges the export-facilitating lender is corporate welfare and should be shut down.

There is another element to this ongoing drama – Greece’s resentment of Western Europe and the feeling that Greeks don’t feel like they are a part of Europe.

Google Inc won unconditional EU regulatory approval on Monday for its planned $12.5 billion purchase of mobile handset maker Motorola Mobility.

Google Inc. won unconditional EU regulatory approval on Monday for its planned $12.5 billion purchase of mobile handset maker Motorola Mobility.

Given that gold, U.S. bonds and the U.S. dollar remain safe havens during times of uncertainty, they cannot be ignored.

ACTA protests are sweeping across the world. Feb. 11 was dubbed an international day of action by opponents of ACTA , and turnout was highest that day, but the rallies have continued to rage on in the days since, as international anger over the controversial treaty builds.

Gold prices climbed on Monday as news that Greece's parliament had approved an austerity bill needed to release a second round of bailout funds lifted the euro, while platinum rose back towards a three-month high as supply issues flared up.

Despite all the dissent, the austerity program won a clear cut majority in the Greek parliament.

Hungarian Prime Minister Viktor Orban said on Monday he would iron out differences with the European Union and the International Monetary Fund over disputed legislation to secure an aid deal and avoid being shut out of markets.

Syria said it has categorically rejected a new resolution from the Arab League which calls for the formation of a joint Arab-United Nations peacekeeping mission in the country to help bring an end to the bloodshed that has lasted almost one year.

Gold prices rose Monday after Greek lawmakers accepted terms of a deeply unpopular austerity plan that Eurozone leaders demanded as the price for financially rescuing the debt-choked nation.

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.