Industrialized nations have stepped up plans to help countries swept up in the Arab Spring rebuild their economies through more access to international credit markets, investment and trade, a senior State Department official said on Monday. Undersecretary of State Robert Hormats said while headlines from a G8 leaders' summit at the weekend focused on the
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The head of German carmaker Opel, under pressure from parent General Motors to end losses, refused to promise workers at its plant in Bochum on Monday that their jobs would be safeguarded after 2014. The plant, located in the rust-belt Ruhr region devastated by coal mine closures, is expected to shut after the company chose
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European equities rebounded from five-month lows on Monday, with investors seeing value after the steep retreat to five-month lows and taking heart from global politicians' weekend pledge to combat financial turmoil and prevent a euro zone break up. The leaders of G8 major industrialised nations said they would take steps to revitalise the global economy
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Hundreds of Islamist gunmen fired in the air on Monday as they laid to rest a Sunni Muslim cleric whose killing ignited street battles that brought the bloodshed of Syria's uprising across the border into Lebanon. Sheikh Ahmed Abdul Wahid, an opponent of Syrian President Bashar al-Assad, was shot dead a day earlier at a
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Italians delivered a stunning blow to traditional parties on Monday when they elected protest candidates to govern several key cities, signalling a major shift in the political landscape ahead of a general election next year. In the most sensational result in two rounds of local polls, comedian Beppe Grillo's Five-Star Movement consolidated its meteoric rise
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Igor Shuvalov's political acumen and knowledge of the Kremlin's Byzantine ways helped him cling to one of the most influential roles in Russia's government on Monday, despite questions over his family's financial dealings. Shuvalov, 45, kept his job as first deputy prime minister in the cabinet unveiled by President Vladimir Putin, with a broad economic
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The Bank of England is to be scrutinised over how well it acted at the height of the financial crisis and over how good its sometimes off-target growth and inflation forecasting is. Its supervisory body said on Monday it was launching a review of both aspects of the Bank's activities, to be published in October.
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Tomislav Nikolic pledged to keep Serbia on its pro-European course after his shock election as president, winning a cautious welcome on Monday from the EU and neighbouring states still unnerved by his links to the bloody collapse of Yugoslavia. A dour former cemetery manager known by the nickname "Gravedigger", Nikolic beat liberal Boris Tadic in
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Barclays bank is selling its near-20% stake in U.S. asset manager BlackRock, worth $6.1 billion, as tougher global regulations have cut the attraction of such holdings. Barclays has held the stake for almost three years, a legacy of BlackRock's $15 billion purchase of Barclays Global Investors, but Basel III regulations mean banks have to hold
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Ryanair, Europe's biggest budget airline, posted a record annual profit on Monday but warned surging fuel costs and worsening economic outlook in Europe meant profits were likely to fall in the coming year for the first time since 2009. The Dublin-based airline also confirmed it would pay out 483 million euros ($614.5 million) to shareholders
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