U.S. Treasury Secretary Timothy Geithner is set to urge key European officials to take decisive action next week at a make-or-break summit to prevent a debt crisis from turning into runaway contagion.
Every country in the Eurozone needs to set up a special national fund for sovereign debt that is more than 60 percent of gross domestic product, Germany's finance minister told a newspaper in comments released on Saturday.
Earnings season is just over a month away, but the early signals are not comforting.
Stocks ended flat on Friday but capped the best week for Wall Street bulls in almost three years after data showed the U.S. unemployment rate dropped to a 2-1/2 year low.
The Canadian dollar ended weaker against the U.S. currency on Friday, following the euro lower, as worries about Europe's debt crisis and disappointing domestic employment data ended a four-day winning streak.
Toronto's main stock index was higher on Friday morning, on track to post its biggest weekly gain in more than two years, pushed up by strong bank earnings, encouraging U.S. jobs data and talk of more action to ease Europe's debt.
Investors pushed stocks higher on Friday, heading for the best week since early 2009, on news the U.S. unemployment rate fell to a 2-1/2 year low.
Abdulfattah John Jandali, Steve Jobs' biological father, has declared his support for the Syrian protesters after the government banned his son's invention, Apple iPhone throughout the country.
European shares rose on Friday, recording their biggest weekly gain since late 2008, on hopes Eurozone leaders were coming together to find a solution to the Eurozone debt crisis.
The United Nations High Commissioner for human rights on Friday urged the UN Security Council to refer Syria to the International Criminal Court in the Netherlands following a reveal of evidence by an independent panel that suggests the country's security forces have committed crimes against humanity as it attempts to clamp down on an eight-month-old uprising.
British Prime Minister David Cameron threatened on Friday to obstruct a Franco-German drive for swift change to the European Union's treaty intended to help save the euro.
Gordhan said that the debt crisis in Europe is harming economies thousands of miles way.
The euro rose for a fifth straight session against the dollar on Friday, bolstered by speculation that the European Central Bank may lend to weak euro zone countries through the International Monetary Fund.
Stock index futures rose sharply on Friday after a report the European Central Bank was gearing up to lend money to the International Monetary Fund in a bid to ease the Eurozone debt crisis.
German Chancellor Angela Merkel called on Friday for rapid EU treaty change to remedy the root causes of the euro zone's debt crisis but warned that Europeans faced a long, hard marathon to restore lost credibility.
President Nicolas Sarkozy, under pressure from a spiraling euro zone debt crisis five months before a presidential election, told France on Thursday the euro bloc needs closer and stricter coordination of national budgets to survive.
It is believed that hundreds, perhaps thousands, of women in Afghanistan are languishing in jails over so-called ‘moral crimes.’
The EU's antitrust chief said on Thursday he would meet Google Chief Executive Eric Schmidt next week, adding he would not be discussing the regulator's investigation into the Internet search engine's business practices.
The fallout from Iran's alleged nuclear weapons program continues, with the European Union imposing new economic sanctions against 180 Iranian officials and companies.
The new head of the European Central Bank signaled on Thursday it was ready to take stronger action to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.
Wells Fargo Securities said California's wholesale trade, transport and export industries have been big beneficiaries of the growing wealth of Asia and growing demand from other countries, such as Canada and Mexico.
The new head of the European Central Bank signaled Thursday it was ready to take stronger action to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.
