Making his first official visit to Israel, U.S. President Barack Obama pledged on Wednesday enduring support for the Jewish State, where concern over a nuclear-armed Iran has clouded U.S.-Israeli relations. He also stressed the need for Middle East peace at the start of a three-day trip, which is aimed at resetting strained relations with both
More
Britain launched incentives to help struggling home buyers on Wednesday as the government looks to support growth in a real estate market it sees as key to reviving the country's ailing economy. Finance minister George Osborne said Britain would commit 3.5 bln pounds ($5.3 bln) over the next three years to shared equity loans for
More
Pressure grew on Wednesday for Boeing to compensate airlines in hard cash for disruption caused by the grounding of its 787 Dreamliner as two airlines manoeuvred for immediate help instead of future purchase discounts. Leading 787 customer All Nippon Airways wants cash refunds, rather than discounts on future orders, for losses inflicted by the worldwide
More
Greece is close to completing a deal for a Greek takeover of the local units of Cypriot banks, after at least two of the country's biggest lenders showed interest – Alpha Bank and Piraeus Bank. Greece has been rushing to wrap up the deal in a bid to protect its battered banking system from the
More
. * But it’s in the hands of Merkel, not Anastasiades * By Fiona Mullen The Cypriots have spoken. And the answer will keep being no. So the ball is now back in the EU leaders' court. At home Cyprus faces three choices: 1) Default this week: go back to the Cyprus pound, impose capital
More
– European stocks recover on hopes Cyprus chaos containable – Cypriot leaders reject bailout plan, look for alternative – Euro up 0.1 pct to $1.29, off 4-month lows – Fed meeting outcome also in focus European shares rose after three days of losses on Wednesday with investors optimistic that European policymakers would make sure the
More
– Fekter: ESM, ECB cannot allow bottomless pit for Cyprus – Banks closed Friday would be worse than current scenario – Germany, IMF, Austria would have preferred debt haircut The European Central Bank will not provide Cypriot banks with liquidity indefinitely unless a bailout is agreed and banks there may not be able to reopen
More
Cypriot Finance Minister Michael Sarris said that Cyprus and Russia did not reach a decision on a loan from Moscow during talks on Wednesday. "We had a very honest discussion, we've underscored how difficult the situation is," Sarris told reporters as he was leaving after talks with Russian Finance Minister Anton Siluanov. "We'll now continue
More
European shares snapped a three-day losing streak on Wednesday as investors bought back battered stocks, betting that the Cypriot debt crisis would eventually be resolved. Traders said the limited size of Cyprus's cash requirements meant it was likely a compromise with international lenders would be found, although they cautioned that equity markets would probably remain
More
Cyprus Minister of Finance Michalis Sarris said on Wednesday that Cyprus is focusing on alternative solutions to stabilize the economy following the rejection of a haircut on deposits overwhelmingly rejected by the Cypriot parliament yesterday. Sarris is in Moscow where he will meet with his Russian counterpart Anton Siluanov today in a bid to explore
More