GERMANY

Stocks sank on Tuesday, driven lower as the strengthening of financial regulation from Wall Street to Frankfurt crushed bank stocks, adding to worries about the sustainability of the global economic recovery.

Drugmaker Pfizer Inc will cut 6,000 jobs, or 18 percent of the workforce, at its 78 manufacturing plants over the next five years as it pares back operations following last year's purchase of rival Wyeth.

Drugmaker Pfizer Inc will cut 6,000, or 18 percent, of jobs at its 78 manufacturing plants over the next five years as it consolidates operations following last year's purchase of smaller rival Wyeth.

Euro zone finance ministers are working on ironing out wrinkles in the 750 billion euro ($925 billion) plan they hatched a week ago to calm markets and stem fears of serial Greek-style debt crises in the currency area.

The euro dipped on Tuesday, struggling to pull away from four-year lows hit on Monday, and Asia stocks fell to three-month lows as persistent worries about the euro area's fiscal health weighed on investor sentiment.

Google Inc could face inquiries from German and U.S. officials following the company's disclosure it had mistakenly collected sensitive data sent by consumers over wireless networks, the Financial Times reported on Tuesday.

Volkswagen, Europe's largest carmaker, sold 2.34 million vehicles for an increase of 21 percent during the first four months, thanks mainly to China -- destination for more than a quarter of its volume.

Shaken by a debt crisis that is hurting their currency, euro zone finance ministers met on Monday to discuss more effective fiscal discipline for now and the longer term. The talks were the first since euro zone governments hatched a $1 trillion plan a week ago in a bid to stabilise nervous financial markets and limit contagion risks after the financial rescue of Greece, the first in 11 years of monetary union.

Foreigners bought a record $140.5 billion of long-term U.S. securities in March, the Treasury Department said on Monday, and more than doubled purchases of U.S. government bonds.

European finance ministers prepared on Monday to discuss tighter regulation on hedge funds a week after launching a $1 trillion debt rescue plan, as the euro was hit by fears austerity measures would stifle recovery.

The following are comments by euro zone finance ministers and other officials in connection with their regular meeting in Brussels on Monday.

The euro rallied against the dollar on Monday on a rise in risk appetite after a U.S. report showed strong demand for U.S. long-term securities and a flurry of short covering by investors who had bet the currency would fall further. Earlier the euro fell to a four-year low against the dollar on persistent concerns with euro zone sovereign debt and fears that planned austerity measures will hurt growth in the region, but its fortunes revived amid German bank euro buying.

The euro hit a four-year low on Monday on fears that austerity measures would stifle recovery, as European finance ministers prepared to discuss tighter regulation a week after launching a $1 trillion rescue plan.

Stocks fell and the euro slumped to a four-year low on Monday as Asian markets caught up with Friday's sell-off in the West, shrugging off encouraging data and remaining fixated on troubles in the euro zone.

German Chancellor Angela Merkel said on Sunday that a $1 trillion EU rescue plan had only bought the euro zone time to tackle its fundamental problem -- a yawning gap between its strongest and weakest economies.

German Chancellor Angela Merkel Sunday denounced speculation against the euro but said the EU could overcome the problem only by tackling the yawning gap between Europe's strongest and weakest economies.

Google Inc said its fleet of cars responsible for photographing streets around the world have for several years accidentally collected personal information -- which a security expert said could include email messages and passwords -- sent by consumers over wireless networks.

European Central Bank President Jean-Claude Trichet denied the euro is under speculative attack despite its steep fall, and called instead for a quantum leap in monitoring to ensure government budgets are kept under control.

Google Inc said its fleet of cars responsible for photographing streets around the world have for several years accidentally collected personal information that consumers send over wireless networks.

Microsoft Corp is expecting a boost this quarter from a rebound in business tech spending, likely outweighing negative effects from turmoil in Europe, the software giant's chief financial officer told Reuters on Friday.

More technology deals are on the way as the industry recovers from the recession, but Microsoft Corp is not poised to make a big deal soon, its chief financial officer told Reuters on Friday.