Japan could face a power shortage of more than 9% next summer if all its nuclear reactors are shut, media reported on Wednesday. Public concerns about nuclear power flared after a deadly earthquake and tsunami in March caused the world's worst nuclear disaster in 25 years. By May 2012, all 54 of Japan's reactors could
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British cable company Virgin Media lost 36,000 customers in the second quarter, taking its total to 4.78 mln, but those who remained spent more as the company pursued a strategy of selling more of its telecoms and television services to each one. Virgin Media, which has Britain's fastest broadband connections, increased sales by 2% to
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The U.S. dollar fell broadly on Tuesday as U.S. lawmakers remained deadlocked over raising the nation's debt ceiling to avoid a devastating default, while U.S. and European shares also declined. Unless lawmakers reach a deal to raise the $14.3 trln ceiling by August 2, the United States faces the prospect of a default on some
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Russia will increase by half the amount it spends on modernising and re-arming its ailing military in 2011 compared to last year, Prime Minister Vladimir Putin told defence and finance officials on Tuesday. About 750 bln roubles ($27.20 bln) will be spent this year on purchasing arms, defence-related research and development work, Putin said. "We
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UEFA president Michel Platini is to send teams of experts to Greece to help the country reform its soccer leagues following increased crowd violence at games and a match-fixing scandal. Platini met Greek Prime Minister George Papandreou and Hellenic Football Federation (EPO) president Sofoklis Pilavos in Athens on Tuesday for what he described as "constructive
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* Opposition accuses govt of backtracking * Cyprus's austerity plans hung in the balance on Tuesday after opposition parties accused the government of backtracking on unpopular measures, even though authorities said they would press ahead with a fiscal consolidation package. The government and opposition only last week said that they had agreed on a package
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* Opposition accuses govt of failing to fight graft, crime * Bulgaria's centre-right government survived a parliamentary no-confidence vote on Tuesday called by the opposition which accuses it of failing to root out corruption and secure entry to the EU's passport-free Schengen zone. Tensions are rising in the European Union's poorest member before local and
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Thousands of Greek taxi drivers marched in central Athens on Tuesday to protest against government plans to open up their sector to competition, a key reform prescribed by the EU and the IMF. More than 3,000 drivers waving Greek flags and holding banners reading "taxis won't be sold out" rallied peacefully outside parliament, where Transport
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A key gauge of counterparty risks rose to its highest since the beginning of this year on Tuesday as a potential default in the United States and obstacles to the implementation of a Greek debt deal kept money markets on edge. The United States is edging closer to a devastating default as Republicans and Democrats
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Spain and Italy paid a high price to sell short-term debt on Tuesday, compounding investors' concern that last week's bailout package for Greece left the euro zone's debt crisis unresolved. Spain's short-term cost of borrowing hit three-year highs and demand fell at its Treasury bills auction while yields at a sale of six-month Italian paper
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