S&P downgrades Greece to selective default

Standard & Poor's on Monday cut Greece's long-term ratings to 'selective default', the second ratings agency to proceed with a widely expected downgrade after the country announced a bond swap plan to

Shares inch up but growth worry caps

Asian shares crept higher on Friday as solid U.S. data improved sentiment, but gains may be limited by concerns that rising oil prices could deal a further blow to the fragile euro

Cyprus Airways expects 2011 loss, seeks investors

Troubled national carrier Cyprus Airways said on Friday full-year results would be a "significant departure" from 2010 after being hit by intensified competition and rising fuel costs. The board will meet on Tuesday

Why oceans are key to the global economy

Oceans carry the bulk of the world's trade, are a major source of food and employment and help regulate the planet's climate but they are under threat from pollution, over-fishing and global

Brent extends gains above $124 a barrel

Asian shares crept higher on Friday as solid U.S. data improved sentiment, but gains may be limited by concerns that rising oil prices could deal a further blow to the fragile euro