Brent crude oil slipped below $120 per barrel on Thursday, depressed by news of higher OPEC production and lower estimates of global oil demand. But the oil market is looking increasingly well supplied as Middle East output rises and fuel demand across the industrialised and developing economies is weaker than expected. The International Energy Agency,
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Bandits and swindlers" are undermining Ukraine's Euro 2012 preparations by pushing accommodation prices up to exorbitant levels, UEFA president Michel Platini said on Thursday. Hotels in Kiev, Donetsk, Kharkiv and Lviv, the four Ukrainian host cities, have hiked prices in some cases more than 10-fold. Talking to reporters during a visit to Lviv, Platini said
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The euro neared a one-week high against the dollar and European bond markets steadied on Thursday as investors awaited an Italian debt sale that will show whether concerns over Spain are spreading to other debt-laden euro zone nations. A recent sell-off in Spanish debt has largely calmed down following comments from European Central Bank executive
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A magnitude 7.1 earthquake struck 93 miles west of La Dolce in Sonora, Mexico, on Thursday at a depth of 6.2 miles, the U.S. Geological Survey said.
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Greece called a snap election for next month on Wednesday, launching a campaign that may produce no clear winner and threaten implementation of the international bailout plan that saved the nation from bankruptcy. Prime Minister Lucas Papademos announced the May 6 date after meeting the president and his interim cabinet, which he said had done
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It was nothing like December 2004. Sirens wailed, warnings blared and police moved people away from coastlines around the Indian Ocean as a powerful earthquake off northern Indonesia sparked fears of another devastating tsunami. Damage was light and big waves never came in the wake of Wednesday's quake, not like nearly eight years ago when
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British mother and baby products retailer Mothercare said it would close more UK stores as it seeks to restore profitability in its home market, after sales there slumped in the fourth quarter. Last November the firm launched a strategic review of its British business having detailed plans in May to close about 110 stores over
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Sony Corp said it is to cut around 10,000 jobs – 6 percent of its global workforce – as new CEO Kazuo Hirai moves to reduce costs and staunch huge losses at the Japanese electronics giant. After a brief honeymoon since taking over from Howard Stringer this month, Hirai this week doubled Sony's annual loss
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Cypriot Minister of Commerce, Industry and Tourism Neoclis Sylikiotis has stressed the prospects of supplying Europe with natural gas. “The finding of natural gas resources in Cyprus’ Exclusive Economic Zones creates the prospect of shaping a new route of supplying Europe with energy,” Sylikiotis said, speaking after a meeting with opposition Democratic Rally leader Nicos
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Cypriot economist and Nobel-Prize Winner Christoforos Pissarides has stressed that new investments are needed to revive the economy and achieve economic recovery and growth. In an interview with CNA, Pissarides underlined the need to attract large foreign investments and investment funds or Hedge Funds, while he welcomed the interest expressed by Russian and Chinese companies
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