Germany’s Merkel warns on U.S. auto subsidies

German Chancellor Angela Merkel criticised U.S. subsidies to its auto industry on Tuesday, saying the aid threatened to distort competition and was not a long-term solution to the struggling sector's problems. "Europe

Asian stocks slide on global banking fears

Asian shares slumped on Tuesday on concerns that increasing woes in the global financial sector will deepen the world's economic downturn, highlighting the difficulties confronting incoming U.S. President Barack Obama. The tumble

Europe shares turn negative, led down by RBS

European shares surrendered gains and turned negative by early afternoon on Monday as banks extended losses, led by Royal Bank of Scotland, which reported the biggest-ever loss in UK corporate history. At