IBT Staff Reporter

The children care system which the state government has implemented last year in their budget has failed to follow through.

European Union finance ministers on Sunday promised to counter the wolfpack of the financial markets as they sought agreement on a 600 billion euro ($805 billion) plan to keep Greece's debt crisis from spreading.

Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level

The two largest U.S. stock exchange operators, NYSE Euronext and Nasdaq OMX Group, called a truce and issued a joint statement on Sunday, pledging to co-operate with each other and regulators to get to the bottom of last week's dramatic stock market plunge.

Three days after a chilling plunge in stock prices and no closer to knowing why it happened, U.S. regulators faced pressure on Sunday to put up emergency measures to prevent a repeat of the episode.

Following the new data released by SANE Australia revealing 90 per cent of the mentally ill who also suffered from chronic diseases like heart disease and diabetes, the government has been called to bring in a Medicare Benefits Scheme item number to promote health checks by GPs on people with mental illness.

A drug that has already been used in the treatment of rare hereditary disorders may provide a relief for people with type 2 diabetes, proposed Australian researchers.

Experts stated the increase in prescriptions of opioid is correlated with increased habits among drug abusers and also legitimate patients.

A disturbing government report reveals about 150 people with disabilities in the region of Grampians being controlled by a combination of drugs, sent to solitary confinements and physically restrained at care facilities.

Chief executive officer of Cancer Council Australia has supported the findings of the US cancer report calls for the removal of carcinogens and pesticides from food and water, stating more needed to be done to fully understand the issue.

France and Germany completely agree on measures to be unveiled on Sunday by European Union finance ministers to help the crisis-hit euro zone, the French presidency said.

Wall Street's unexplained plunge last week and Greece's debt problems posed systemic risks and underscored the need for financial regulatory overhaul, a top U.S. lawmaker said on Sunday.

Top U.S. department stores are expected to show this week that the strong momentum from last year's holiday season has carried into spring, but investors are already looking toward summer and autumn.

There is no evidence that last Thursday's mysterious U.S. stock market meltdown was caused by a cyberattack, a U.S. counterterrorism official said on Sunday.

European Union finance ministers promised to counter the wolfpack of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.

European Union finance ministers called for strong action to ensure stability before they met on Sunday to discuss ways of ring-fencing Greece's debt crisis to stop it spreading to countries like Portugal and Spain.

BP Plc could be spending as much as $10 million a day on clean-up efforts after a giant oil spill in the Gulf of Mexico, exceeding initial estimates, the Sunday Telegraph quoted Chief Executive Tony Hayward as saying.

Collection G, the brand owned by World Gold Council (WGC) and retailed at Gitanjali, has announced the launch of an exciting new range and design of Collection G pieces. Ex-Miss Indias' Ekta Chaudhary and Pooja Chopra launched the new range from Collection G at Giantti store at Atria Mall in Mumbai. The collection is available across all Gitanjali Stores in Mumbai, Delhi and Bangalore.

European Union officials were working out the details of a financial support mechanism on Saturday to prevent Greece's debt turmoil spreading to Portugal and Spain, ready for approval by EU finance ministers on Sunday.

U.S. securities regulators are considering new curbs to slow stock trades when markets are plunging following Thursday's dramatic sell-off, two people familiar with the matter said on Saturday.

The investment arm of Qatar's sovereign wealth fund has bought the famous London department store Harrods from Egyptian-born businessman Mohamed al-Fayed in a deal reported to be worth around 1.5 billion pounds ($2.3 billion).

Oil ministers from several OPEC nations played down on Saturday a sharp fall in prices, but Kuwait said another $10 drop may force the group into action.

Portugal's prime minister has promised his European Union counterparts that he will cut the budget deficit further than planned this year, to 7.3 percent of gross domestic product, a government source said on Saturday.

Economic growth is not an end in itself, but policy makers pursue it because richer countries are better able to provide health, jobs and a clean environment for their people, Federal Reserve Chairman Ben Bernanke said on Saturday.

China's General Administration of Customs on Friday said export value of textiles and garments in China fell 9.54% year on year or 12.9% month on month to $11 billion in March. In its latest report, the GAC said the export value of textile products was $5.05 billion in March, up 6.7% year on year and 10.6% month on month.

It seems gold is heading for a perfect future as almost all incidents unraveling across the world in April and May months are helping the yellow metal gain. If you take into consideration the recent developments like the Greece debt crisis, Spain and Portugal economic woes, the Euro situation, China's decision to control the realty sector and the May 7 verdict by India's Supreme Court in the Ambani gas row case, all of this have contributed to the further push of gold in global and India markets...

Egyptian-born businessman Mohamed Al Fayed has sold prestigious London department store Harrods to the investment vehicle of the Qatar royal family in a deal reported to be worth around 1.5 billion pounds ($2.3 billion).

Sovereign risks have risen due to the turmoil in the euro zone, but the woes Greece faces are not the same as in other European nations and the situation can be resolved, the chair of a meeting of sovereign wealth funds said.