Asian shares edged lower and the euro wobbled on Tuesday as investors worried about potential future fallout from the Cyprus bailout scheme, after initial rallies on the last-minute rescue opened the way to book some profit. European markets were seen rebounding, with financial spreadbetters predicting London's FTSE 100, Paris's CAC-40 and Frankfurt's DAX likely to
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Italian actress Gina Lollobrigida, one of the leading sex symbols of the 1950s and 1960s, is selling some of her diamond jewelry to raise money for stem cell research, saying now is the time to give back for the fortunate life she has had. After a humble, rural upbringing, Lollobrigida played opposite Hollywood stars such
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Russia seems to have had a change of heart over the terms of a 2.5 bln euro loan it gave Cyprus last year after Moscow suggested on Monday it would extend the loan despite anger that the weekend rescue deal would impose heavy losses on uninsured depositors, many of them Russian. President Vladimir Putin ordered his government to
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Japan and the European Union agreed on Monday to launch talks on one of the world's most ambitious trade deals despite opposition from European carmakers, a test of how far both sides are willing to go in their hunt for economic growth. Japanese Prime Minister Shinzo Abe, European Commission President Jose Manuel Barroso and European
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Cyprus should only impose controls on the movement of capital for a temporary period of time, the European Commission said on Monday, hours after the island sealed a deal to close its second-largest bank in return for an international bailout. "Any measures to restrict or limit freedom of movement may only be enacted exceptionally and
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Britain's FTSE 100 rebounded on Monday, bolstered by a last-minute bailout deal for Cyprus which helped restore confidence in the European banking sector. Cyprus secured the 10 billion euro ($13.00 billion) rescue from international lenders overnight, in exchange for shutting down its second-biggest bank, spelling heavy losses for big depositors but, crucially, sticking to EU
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Silvio Berlusconi repeated a demand on Monday to be included in any new Italian government, but there was no sign his centre-left rival would renege on a promise not to ally with the tycoon as a way out of political stalemate. Pier Luigi Bersani – asked by the president to try to form a coalition
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Cyprus President Nicos Anastasiades was confident that the agreement reached with international lenders was the best possible deal and that it was sustainable, despite efforts to curb the island’s banking sector, a thorn in the side of German politicians. “We have an agreement to the benefit of the people of Cyprus and the EU,” Anastasiades
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The programme will “restore the viability of the financial sector, with the view of restoring sustainable growth and sound public finances over the coming years.” The plan includes: – restructuring the financial sector; – safeguard all deposits below EUR 100.000; – appropriate downsizing of the financial sector reaching the EU average by 2018; – commitment
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The Eurogroup of euro zone finance ministers approved a last-minute deal for Cyprus that will get a 10 bln euro bailout, but will see its banking sector shrunk by more than half and could risk losing Russian business, a long-standing demand of conservative Germans. The deal reached just before dawn in Brussels will see second-largest
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