Asian stocks and the euro fell on Tuesday after ratings agency Standard & Poor's warned it might downgrade euro zone countries en masse if European leaders fail to produce a credible plan to solve the region's debt crisis at a summit later this week. The unprecedented warning brought to a halt a rally in global
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Standard & Poor's has warned it may carry out an unprecedented mass downgrade of euro zone countries if EU leaders fail to deliver a convincing agreement on how to solve the region's debt crisis in a summit on Friday. The ratings agency's threat to downgrade 15 countries all the way up to AAA-rated Germany and
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The head of the International Monetary Fund Monday said Greece's adjustment program was in a "difficult phase" with economic reforms moving slowly and growth extremely weak, a warning that came as the global lender approved a new aid tranche for the debt-burdened country. IMF Managing Director Christine Lagarde urged the new unity government to implement
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Looking for the dress you saw on a hit television show or the jerseys worn during a football game or soccer match? An iPad app aims to help viewers shop while watching TV. Unlike television shopping channels, Watch with Ebay is a new feature in eBay's iPad app that lets users buy items related to
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Santa's fitness elves have affixed smartphone technology to home equipment, programmed Tour de France terrain into stationary bikes and stuffed holiday stockings with trendy and functional workout toys. Home treadmills, those stalwarts of basement exercise intentions, are becoming so sturdy, smart and sophisticated that they're giving the fitness center machines a run for their money,
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Prime Minister Mario Monti, boosted by positive market reaction, takes a 30 billion euro austerity package to parliament on Monday to shore up Italy's strained public finances and help stem a debt crisis threatening to overwhelm the euro zone. The cabinet approved the mix of tax rises, pension reforms and incentives to boost growth in
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French President Nicolas Sarkozy and German Chancellor Angela Merkel meet in Paris on Monday under pressure to align their positions on centralising control of euro zone budgets to stem a debt crisis that threatens Europe's currency union. After individually outlining their views last week on closer fiscal integration, the two leaders must overcome remaining differences
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The Cyprus government unveiled on Saturday its plans to contain rising unemployment and stimulate economic growth. The plans, announced by Minister of Finance Kikis Kazamias and Minister of the Interior Neoclis Sylikiotis, intent to streamline permit granting procedure for development projects both by the public and the private sector, exceeding three billion EUR in 2011
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Asian shares and the euro firmed on Monday on hopes European leaders would agree on a definitive plan to solve the euro zone's debt crisis at a crucial summit this week, with sentiment also getting a lift from Italy unveiling austerity steps. But investors were expected to tread cautiously and not push markets much higher
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Germany is prepared to soften language in the euro zone's permanent bailout mechanism compelling bondholders to accept losses in exchange for much stricter budget rules, sources have told Reuters. The shift would not completely remove the possibility of private bondholders having to accept losses in the future, but it would align the statutes of the
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