GERMANY

Japanese Finance Minister Naoto Kan said he was open to debating sales tax reform, suggesting the government may consider raising the tax to help fund its spending programs focused on supporting households.

Eurogroup Chairman Jean-Claude Juncker warned on Saturday against a further drifting apart of euro zone economies in an interview with a German newspaper.

High-level talks in Luxembourg on Sunday will assess whether there is a future for what remains of bank secrecy in Europe in the face of international pressure, but offshore centers are struggling to find common ground.

U.S. stocks finished slightly lower on Friday as China took another step towards monetary policy tightening and Europe reported a weaker than expected Gross Domestic Product (GDP).

Greece's economy shrank more than feared last quarter and the government on Friday sharply revised down its figures for the previous three quarters as well, increasing doubts about its ability to resolve its debt crisis.

The Vancouver Olympics kicks off tonight, and already more than 60,000 people are there to witness the Olympic cauldron being lit in BC Place stadium during the opening ceremony. Below is a breakdown of the Full Olympics Schedule of 2010:

Even if EU leaders put some flesh on the bones of their vague promises to support Athens next week, Greece still faces a race against time to win back market confidence to fend off a financing squeeze looming before June.

China Datang Corp, the country's second-largest power producer, plans to float shares of its renewable energy unit in a Hong Kong IPO, which is expected to raise at least $1 billion, sources close to the deal said.

European stock indices are losing steam before the opening of the U.S. session as member nations reported less than stellar Gross Domestic Product (GDP) numbers and news of China tightening shook world markets.

The 1200 km long Baltic natural gas project received its final approval Friday as Finland gave permission to the $10.6 billion project. Finnish environmental department gave permission for the project, paving the way for construction of the between Russia and Germany. The southern Finnish Regional State Administrative Agency said that it had granted Nord Stream a permit to build the pipeline through Finland's economic zone in the Baltic Sea.

Europe's post-recession recovery hit a roadblock on Friday as German economic growth unexpectedly halted and Italy went into reverse in the final quarter of 2009, knocking total euro zone GDP growth almost flat.

The International Monetary Fund on Friday joined the European Union in pledging support for Greece in its struggle to bring its ballooning budget deficit under control and contain its debt crisis.

Commodities stocks continue to be the best performing in Thursday's U.S. stock market while financials, especially European banks, still lag.

The euro fell against the dollar on Thursday as investors were disappointed with the lack of details regarding a European Union deal to support heavily-indebted Greece. The euro zone currency also dropped against the yen and sterling after European leaders sought to prop up Greece with words of support at a summit on Thursday, but failed to make concrete pledges, describing the promise of support as a political statement.

European leaders struck a deal to provide financial aid to Greece on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro single currency.

European leaders sought to prop up Greece with words of support at a summit on Thursday but failed to offer concrete proposals to help the country tackle its debt crisis, prompting a negative market reaction.

Iran is experiencing surprising setbacks in its efforts to enrich uranium, and assessments suggest equipment failures and other difficulties could undermine its effort to ramp up its nuclear program, The Washington Post reported on Thursday.

U.S. stocks edged lower in morning trading on Thursday as European leaders today still have not yet confirmed a specific plan to bailout Greece.

European leaders have reached a deal to provide aid to Greece, EU president Herman Van Rompuy said on Thursday, in an unprecedented move to stave off a broader crisis in the 16-nation bloc that shares the euro.

The Swiss government will probably have to turn to parliament to resolve a legal impasse threatening a deal struck with the U.S. to hand over data from UBS clients, a minister was quoted as saying.

Several key euro zone officials have reached a deal to help Greece in its debt crisis, European Union President Herman Van Rompuy said on Thursday.