Cyprus officials have announced the country’s banks, which were closed to prevent mass withdrawals, will remain shut until at least Tuesday, March 26th. The Cypriot government began an emergency meeting this afternoon to discuss alternatives to the EU-IMF bailout deal rejected by parliament on Tuesday. Reports say the cabinet is considering imposing capital controls when [...]
European markets follow Asian shares downward on fears that the plan to bailout Cyprus could trigger an escalation of the eurozone debt crisis. The EU and IMF want all bank customers to pay a levy in return for a bailout worth 10 billion euros ($13 billion). London’s 100 share index is 1% lower, while France [...]
German Chancellor Angela Merkel has warned that her country’s economic climate in 2013 will be “even more difficult”. In her New Year message, Angela Merkel also cautioned that the eurozone debt crisis was far from over. However, she did say that reforms designed to address the roots of the problem were beginning to bear fruit. [...]
South Korea has decided to cut its growth forecast for this year and for 2013, underlining the effect of a slowdown in its key export markets on its growth. The finance ministry has forecast a growth of 3% for 2013, down from its earlier projection of 4.3%. Meanwhile, the growth forecast for 2012 was lowered [...]
The European Union is due to begin a two-day summit in Brussels that will focus on issues surrounding the eurozone crisis. High on the agenda will be controversial plans for a eurozone banking union, seen as a key element in restoring confidence in the euro. In the run-up to the summit, Germany has been urging [...]
Chinese economy has slowed for a seventh quarter as problems in Europe and the US hurt demand for its goods. The annual rate of growth was 7.4% in the third quarter, down from 7.6% in the previous three months. However, there were signs that the world’s second-biggest economy was now stabilizing and rebounding. That would [...]
Latin America will grow at a slower pace than 2011, primarily due to weaker growth in Argentina and Brazil, a United Nations report has suggested. The Economic Commission for Latin America and the Caribbean (ECLAC) forecast the whole area would slow to 3.2% in 2012, down from 4.3% last year. It is also less than [...]
Asian markets have risen, following gains on Wall Street, after the US Federal Reserve unveiled its latest stimulus plan. The US central bank said it would buy $40 billion of mortgage debt a month and kept interest rates at below 0.25%. It said it would also continue its programme to reduce long-term borrowing costs for [...]
Asian stock markets have risen, joining a global rally, after European Central Bank’s president, Mario Draghi, unveiled a plan targeted at easing the region’s debt crisis. The ECB said it would buy bonds of the bloc’s debt-ridden nations in a bid to bring down their borrowing costs. The implied borrowing costs for Spain and Italy [...]
Ratings agency Moody’s has lowered its outlook for the European Union’s AAA credit rating to “negative” and warned that the bloc’s rating could be downgraded. Moody’s said the move reflected the negative outlook for the ratings of the EU’s key budget contributors. Earlier this year, Moody’s put ratings of Germany, France, Netherlands and the UK [...]
German government has criticized leading conservative politician Alexander Dobrindt for suggesting that Greece will have to leave the eurozone. Foreign Minister Guido Westerwelle said “bullying” of Greece must stop. And in a TV interview Chancellor Angela Merkel said: “Everyone should weigh their words very carefully.” Earlier, Christian Social Union leader Alexander Dobrindt, an ally of [...]
Fears that other Spanish regions may follow Valencia in seeking a bailout from Madrid have rattled markets. A local newspaper in Murcia, one of Spain’s smallest regions, quoted the regional government’s head as saying it would ask for funding help of up to 300 million Euros. On Friday Valencia asked the central government for a [...]
EU leaders at Brussels summit are examining how to ease the eurozone debt crisis amid competing visions about how to revive the worst-hit economies. As the Brussels summit opened, French President Francois Hollande made a new plea for EU solidarity and Spain warned that its borrowing costs were too high. German Chancellor Angela Merkel scorned [...]
A new report by the aid watchdog Data shows that European debt crisis has led to cuts in government development aid to poor countries. It is the first significant reduction in Europe-wide aid budgets for a decade. The biggest percentage cuts in the year 2010/11 were made by two of the states worst affected by [...]
US President Barack Obama says European leaders must make difficult decisions to steer the eurozone away from crisis. Speaking at the White House, Barack Obama said the US would support Europe implement the hard solutions needed to solve the ongoing debt crisis. He said a deep new recession in Europe would have an impact on [...]
Signs of economic weakness around the globe and Europe’s intensifying debt crisis are unnerving investors, who have been piling out of riskier investments like commodities and equities for the perceived safety of higher-rated government bonds. U.S. banking stocks are heading into a bear market as Europe’s debt crisis pressures the sector. The KBW Bank index [...]
Deutsche Bank reports a sharp fall in profits, in part due to weaker performance in investment banking during the eurozone debt crisis. Net income for the first three months of the year was 1.4 billion Euros ($1.9 billion), down 35% on the 2.1 billion Euros the bank made a year earlier. Revenue was down 12% [...]
Xbox One: Microsoft unveils its next-generation console which goes on sale later this year
Dominique Venner: Suicide inside Notre-Dame de Paris
Eurovision 2013: Russia calls Azerbaijan’s failure to award any points as outrageous action
Brad Pitt says he felt he was wasting his life while married to Jennifer Aniston
Did Amanda Berry’s 911 dispatcher curse at her?
Christie Brinkley poses in a swimsuit at 59
Tiger Woods and Lindsey Vonn drop his kids off at school
George Michael fell out of his car at 70 mph while travelling on a four-lane stretch of M1 motorway
Lady Gaga is back in her favorite high heels after recovering from hip surgery
Travis Alexander home becomes tourist attraction
Carl Pistorius: Oscar Pistorius’ brother acquitted in Marietjie Barnard’s death case
Jose Manuel Barroso urges full tax data exchange
Why penguin can’t fly
Apple among America’s big tax avoiders
North Korea releases Chinese fishing crew
Efrain Rios Montt genocide and crimes against humanity conviction overturned
Hilaria Baldwin joins husband Alec at Cannes Film Festival 2013 to promote his documentary Seduced and Abandoned
Jennifer Lawrence wears blue body paint to portray X-Men’s Mystique
Oklahoma tornado kills at least 51 people as two entire schools flattened in Moore
Ray Manzarek dead: The Doors co-founder dies aged 74 after long battle with cancer
Christine White dies in a nursing home in Washington at the age of 86
Brazilian husband caught cheating wife as lover escapes from window
Travis Alexander case: Jodi Arias’ attorneys file motion for mistrial
Laura Fernee claims she is too pretty to work
Full spring cleaning burns more calories than running a marathon
Face Trainer: Training balaclava claims to tone up saggy faces
Macaulay Culkin at risk of lung cancer
Eurovision 2013: Azerbaijan inquiry into “nul points” for Russia
Oscar Pistorius will not compete in 2013
Kate Middleton has a Marilyn Monroe dress blow up moment at William van Cutsem wedding
Eurovision 2013: Russia calls Azerbaijan's failure to award any points as outrageous actionRussian Foreign Minister Sergei Lavrov has called Azerbaijan's failure to award any points to Russia's entry in this year’s Eurovision song contest as "outrageous". Sergei…
Brad Pitt says he felt he was wasting his life while married to Jennifer AnistonBrad Pitt has revealed he felt he was wasting his life on drugs while he was married to Jennifer Aniston. In yet another blow to his ex-wife Jennifer Aniston, Brad Pitt…
George Michael fell out of his car at 70 mph while travelling on a four-lane stretch of M1 motorwayAn M1 motorway driver has described the moment she nearly ran over George Michael as he lay covered in blood on the road after falling from his car at 70 mph. Katherine Fox,…
Lady Gaga is back in her favorite high heels after recovering from hip surgeryLady Gaga has been reunited with her favorite heels as she hit the town in New York in her trademark super high boots. Lady Gaga's re-emergence comes after she was seen…
Hilaria Baldwin joins husband Alec at Cannes Film Festival 2013 to promote his documentary Seduced and AbandonedAlec Baldwin famously lost his cool with film producer Harvey Weinstein at last year's Cannes film festival. But it appears that Alec Baldwin, 55, has managed to keep his…
Jennifer Lawrence wears blue body paint to portray X-Men's MystiqueJennifer Lawrence has hit the X-Men set like a bolt from the blue and her fans have been given a glimpse of the 22-year-old star in all her painted glory as she reprises her…