Pope calls for “ethical renewal” in Italy

Pope Benedict on Thursday called for an "ethical renewal" in Italy, where Prime Minister Silvio Berlusconi is battling a scandal over parties with prostitutes and showgirls. In a telegram to Italian President

World stocks hit one-year low

World stocks fell to a new one-year low on Thursday, battered by fears of slowing global economic growth. MSCI's all country-world stock index was down nearly 2 percent on the day.

TUI Travel boosted by late bookings demand

Europe's biggest tour operator TUI Travel said it was confident its full year results would be in line with expectations following strong late demand for summer holidays. TUI Travel, which operates the

Turkey, north Cyprus gas deal to raise tensions

 * Erdogan calls Noble, Israel drilling “madness” *  Turkey signed a deal with the breakaway Turkish Cypriot regime on Wednesday to start offshore gas exploration, in a move set to escalate regional