* Bond yields soar; Gov't insists no funding needs til December * Cyprus may soon have to seek an international bailout, becoming the fourth state in the euro zone to request a rescue if it does not take urgent action to repair its finances, the island's largest commercial bank warned on Monday. "With our
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The United States is poised to step back from the brink of economic disaster on Tuesday as a bitterly fought deal to cut the budget deficit is expected to clear the Senate and President Barack Obama's desk. Just hours before the Treasury's authority to borrow funds runs out — risking a damaging U.S. debt default
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Samsung Electronics has delayed the Australian launch of its latest Galaxy tablet due to a patent lawsuit filed by Apple Inc , Bloomberg reported, as both technology companies defend their market share in the booming tablet market. Samsung is Apple's nearest rival in the fast-growing mobile device industry as it leverages its cost competitiveness and
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The European Commission proposed on Monday boosting the EU's contribution to jointly financed development projects for the euro zone's bailout recipients, offering them hundreds of millions of euros of additional funding. The EU executive said it wanted to increase the level of EU funding of projects in Greece, Ireland and Portugal, as well as in
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Asian shares fell on Tuesday as sluggish U.S. and global manufacturing data added to concerns about the health of the world economy, while a strengthening yen prompted speculation that Tokyo may intervene in the markets to curb the currency. An 11th-hour deal to raise the U.S. debt ceiling cleared its biggest hurdle in the House
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After months of vitriolic discord, Republican and Democratic lawmakers are expected to vote on Monday on a White House-backed deal to raise the U.S. borrowing limit and avert an unprecedented debt default. The Democratic-led Senate is expected to pass the deal, which raises the $14.3 trln debt ceiling and cuts about $2.4 trln from the
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Syrians began the Muslim Ramadan fast in sombre mood on Monday after troops stormed Hama, scene of a 1982 massacre, in one of the bloodiest days of a five-month-old uprising against President Bashar al-Assad. Rights activists said 80 civilians were killed in Sunday's tank-backed assault on the central Syrian city where Assad's father crushed an
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Syrians began the Muslim Ramadan fast in somber mood on Monday after troops stormed Hama, scene of a 1982 massacre, in one of the bloodiest days of a five-month-old uprising against President Bashar al-Assad. Rights activists said 80 civilians were killed in Sunday's tank-backed assault on the central Syrian city where Assad's father crushed an
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More than 200,000 university applicants in Britain will fail to get places this year, the head of the admissions service said in an interview with the Independent newspaper published on Monday. Chief executive of Ucas Mary Curnock Cook said a "carbon copy" of last year's confusion, when 210,000 youngsters did not get places, is inevitable.
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European shares were expected to bounce back on Monday, mirroring strong gains in Asia, with investors' appetite for riskier assets seen rising after U.S. lawmakers agreed on a deal to increase the borrowing limit to avert a default. Financial spreadbetters expected Britain's FTSE 100 to open 65 to 69 points higher, or as much as
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