The Eurozone seems all set to enter a period of deep recession, with the credibility of governments' ability to keep the region in balance under serious doubt. The Organisation for Economic Co-operation and Development (OECD) has already issued a warning that Eurozone and U.S. leaders must act urgently to stop their debt crises from spiralling out of control.
Asian shares fell and the euro trimmed gains on Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
Asian shares fell and the euro trimmed gains Wednesday as caution set in over the chance for more progress in resolving euro zone debt woes after officials agreed to strengthen a rescue fund and seek more aid from the International Monetary Fund.
In Northern Kosovo, ethnic Serbs went to battle with NATO and Kosovo Force peacekeepers
The two countries have already significantly downgraded diplomatic and financial ties.
The Eurozone finance ministers accept a bailout loan of €8 billion (approximately $10.7 billion) for Greece.
Stock index futures pointed to a mixed open on Wall Street on Tuesday, with futures for the S&P 500 up 0.15 percent, Dow Jones futures up 0.1 percent and Nasdaq 100 futures down 0.27 percent at 4:19 a.m. ET.
Asian shares and the euro extended a rally into a second day Tuesday as investors were buoyed by expectations that European policy makers will outline details of how they will leverage a bailout fund to avert contagion in sovereign debt markets.
Asian shares and the euro extended a rally into a second day on Tuesday, as investors were buoyed by expectations that European policy makers will outline details of how they will leverage a bailout fund so as to avert contagion in sovereign debt markets.
Gold rebounded to a one-week high following the substitution of last week's selling pressures with expectations of a stronger effort by euro-zone leaders to stem the spread of the sovereign-debt crisis. Spot gold held steady
above $1,700 per ounce on Tuesday.
Euro zone finance ministers are to agree on Tuesday on details of leveraging their EFSF bailout fund so it can help Italy or Spain should they need aid, and are likely to approve the next tranche of emergency loans for Greece and Ireland.
The Apple product was glowing red and emitting a significant amount of black smoke when it suffered a minor explosion on a Regional Express flight from Lismore to Sydney, Australia. This is not the first time Apple's lithium batteries overheating have caused fires and combustion, and the burning iPhone 4 incident still has no definite cause from Australian authorities.
Stocks rebounded from seven days of losses on Monday as investors used the latest effort from European leaders to resolve the region's debt crisis as an opportunity to cover short positions.
Germany and France stepped up a drive on Monday for coercive powers to reject euro zone members' budgets that breach EU rules, and the United States kept up the drumbeat of demands from the rest of the world for decisive action.
Gold prices surged Monday along with equities on hope that drastic action by France and Germany can save the Eurozone from its two-year-old sovereign debt crisis.
Syria’s membership in the League was also suspended.
European telecoms lobbying group ECTA urged EU regulators on Monday to cut fees charged by dominant operators for access to copper wire networks, arguing such firms enjoyed unfair subsidies.
The world needs a far more ambitious plan to cut emissions of planet-warming greenhouse gases than the Kyoto Protocol, European Union climate negotiators said on Monday, calling for a global deal to be reached by 2015 and in place by 2020.
Stocks surged about three percent on Monday on hopes that fresh proposals may emerge out of Europe to help solve the region's debt crisis.
Canadian Finance Minister Jim Flaherty said on Sunday the government would eliminate tariffs on dozens more products used by Canadian manufacturers, aiming to lower their costs and encourage more hiring.
Germany and France stepped up a drive on Monday for coercive powers to reject national budgets in the euro zone that breach EU rules, as a market rout of European debt eased temporarily on hopes of outside help for Italy and Spain.
“The euro area crisis remains the key risk to the world economy,” OECD stated.
