Combined support for Greece from the IMF and the European Union would be the best way to help the over-borrowed country deal with its debt crisis, OECD Secretary General Angel Gurria said on Sunday.
German Finance Minister Wolfgang Schaeuble said only the most extreme circumstances could justify a bailout of a European Union state from within the union, and any such aid would have to be delivered bilaterally.
An insolvency mechanism should be set up for nations that are unable to manage their debts, Horst Koehler, Germany's president and a former head of the International Monetary Fund, said in an interview on Saturday.
Pope Benedict apologized on Saturday to victims of child sex abuse by clergy in Ireland and ordered an official inquiry there to try to stem a scandal gripping the Catholic Church which has swept across Europe.
Greece has taken the necessary steps to tackle its fiscal crisis and will not default on its debt obligations, the country's prime minister said on Saturday in a speech to his socialist party's national council.
The Dow industrials snapped an eight-session winning streak on Friday, as renewed worries about Greece sparked a climb in the dollar and weighed on U.S. stocks.
The European Union's monetary affairs chief urged the bloc's leaders on Friday to agree a standby aid package for Greece next week but France and Germany struck different notes and the euro slid.
The Australian Dollar opens marginally lower today at 0.9204 and spent most of yesterday's local session consolidating around the US92 cent mark.
Sony is teaming up with European movie-rental firm Lovefilm to offer TV viewers in Britain instant access to films from the Web, as a land grab for space on Internet-connected televisions gets under way.
Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, saying it cannot achieve promised deficit cuts if its borrowing costs remain so high and may have to call in the IMF.
Wheat production in Germany, Europe's second largest producer, is expected to fall this season due to wet weather conditions. According to DRV farm co-operatives association, German winter wheat harvest, essentially all the crop, will fall by 1.3% to 24.59 million tones. The DRV currently expects no record harvest, but good average yields, the co-operative said.
Israel's Teva has won the battle for German generic drugmaker Ratiopharm, paying an enterprise value of 3.625 billion euros to fix the industry leader's weakness in the world's second-largest generics market.
Europe will not make the most of its multi-billion euro clean energy investments until old monopolies are broken up.
Greece raised the stakes on Thursday in its quest for EU help to tackle its debt crisis, warning it cannot achieve promised deficit cuts if its borrowing costs remain high and might have to call in the IMF.
China Mobile's forecast-beating results suggest its years of investment in data services is paying off, helping the world's largest mobile carrier report an unexpected rise in revenue per user.
Greece's prime minister warned on Thursday that Athens would not be able to make planned deficit cuts unless it can borrow money more cheaply and said he would prefer not to have to turn to the IMF for help.
Greece may seek financial aid from the International Monetary Fund next month because it is growing increasingly pessimistic about the prospect of help from the European Union, Dow Jones Newswires reported on Thursday.
China Mobile, the world's largest mobile operator, reported a 3.6 percent rise in fourth-quarter profit on Thursday, its best profit in a year and beating expectations as revenues per user posted a rare rise despite intense competition.
The tussle over German generic drugs maker Ratiopharm is drawing to a close as the three remaining contenders square off in the final round of bidding, sources close to the deal told Reuters on Wednesday.
Technology stocks pushed Asian shares to a two-month high on Wednesday, powered by hopes of strong earnings for Intel, while the yen faltered after the Bank of Japan loosened policy in a bid to spur the flagging economy.
Air Berlin canceled $1.7 billion worth of firm orders for Boeing Co's 787 Dreamliner aircraft amid uncertainty over whether it will increase long-haul flights.
Many workers around the world have given up hopes of advancing in their jobs, but the bad economy is keeping them from finding new ones.
