The European Commission has approved the funding for 143 new projects under the first call for the LIFE+ programme (2007-2013), the European fund for the environment. The projects are from across the EU and cover actions in the fields of nature conservation, environmental policy, and information and communication. Overall, they represent a total investment of
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U.S. banks lined up for government cash, the Group of Seven expressed concern about the soaring Japanese yen, and countries in Asia and Europe took emergency actions to shore up their financial positions as the credit crisis threatened a deep global recession. South Korea slashed interest rates, Australia intervened in the currency market, Gulf Arab
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Oil trimmed losses after sinking to a new 17-month low below $62 a barrel on Monday, driven down by investor pessimism about the deteriorating global economic climate and its likely impact on demand for fuel. U.S. light crude for December delivery was down 47 cents at $63.68 a barrel by 10:09 a.m. EDT, after touching
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Sales of newly constructed single-family homes rose in September and inventories shrank as builders slashed prices to their lowest level in four years to move property as a financial crisis deepens. The annual sales pace of 464,000 homes was up 2.7 percent from the revised August figure of 452,000, originally reported as 460,000 homes, Commerce
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The Dow and the S&P 500 briefly turned positive on Monday in volatile trade as shares of Verizon Communications spurred gains in the telecoms sector, but the bounce quickly faded as persistent worries about recession fueled caution. Top drags included shares of technology bellwethers such as Microsoft Corp, down nearly 4 percent, amid worries about
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The Internet is not just changing the way people live but altering the way our brains work with a neuroscientist arguing this is an evolutionary change which will put the tech-savvy at the top of the new social order. Gary Small, a neuroscientist at UCLA in California who specializes in brain function, has found through
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Australian Minister of Foreign Affairs Stephen Smith assured on Monday that his country strongly supports the process for a Cyprus settlement and direct negotiations between the leaders of the two communities, adding that a solution would be in the interests of Cyprus, Europe and the international community. Speaking after a meeting in Nicosia with his
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Minister of the Interior Neoclis Sylikiotis has said that the works undertaken by the Republic of Cyprus to rebuild the village of Artemida, which went up in flames during the summer 2007 fires in Greece, are proceeding and will be completed according to plan. Speaking at Larnaca Airport on his return from Greece, where he
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Kuwait sought to restore confidence in its banking system on Monday by offering to pump cash into troubled Gulf Bank which has been hit by losses from derivative deals. A group of investors meanwhile protested in Kuwait City's financial district against the government's handling of the global financial crisis and urged the cabinet to resign.
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British Prime Minister Gordon Brown defended a surge in government borrowing on Monday, saying it is right to spend to help businesses and households when the economy is contracting. Analysts expect the Labour government to change its limits on borrowing soon to allow more room for manouevre as the economy weakens, but the Bank of
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