President Barack Obama suspended U.S. budget negotiations for the day Friday to give congressional leaders a chance to come up with a "plan of action" on how to unblock talks meant to cut deficits and avert a debt default. Obama, who had vowed to meet top lawmakers every day until a deal is reached to

Banks led losses for European shares and the euro fell on Friday as investors worried financial sector stress tests will throw up some unwanted surprises to add to the region's debt crisis. Greece, Spain and Italy's government bond yields also rose, though relatively safer German Bunds were in demand, with the 10-year yields down 4.2

Shareholders of Alpha Bank, Greece's third-largest lender, approved at a meeting on Friday management plans to boost capital through a rights offering and a convertible bond issue. Alpha Bank's management was authorised to raise up to 2.5 bln euros ($3.5 bln) in equity in the next 12 months and got three-year clearance to issue 350

The dollar steadied in Asia on Friday after the impact from a Standard and Poor's warning that it could cut U.S. credit ratings was short-lived, and investors bought back the U.S. currency as they shifted their focus to stress tests on European banks. The ratings agency warned there was a one-in-two chance it could cut

Greece reached a deal with the European Commission on Thursday that gives it access to 14 bln euros of EU funds for badly needed investment in its infrastructure. Greece has received just 4.9 bln of the 20.2 bln euros of such funds earmarked for it from 2007 to 2013 but has had to cut public

Greece's second-largest lender EFG Eurobank is in initial talks to sell a majority stake in its Turkish unit Eurobank Tekfen as it seeks to safeguard its balance sheet against debt loses. If successful, the deal will be EFG's second divestment outside Greece this year after the sale of a majority stake in its Polish operation

Prime Minister George Papandreou said on Thursday the next few days are critical for dealing with Greece's colossal debt but he was pleased nations now saw the crisis as a broader structural problem for the future of Europe. Chancellor Angela Merkel said on Thursday that Germany wants a quick solution to the Greek crisis but