The euro fell and oil eased on Thursday after Portugal's prime minister resigned following parliament's rejection of his minority government's austerity programme, renewing worries about the scale of the euro zone's sovereign debt crisis. Asian stocks outside Japan rose as higher commodities prices lifted materials shares, but Tokyo shares weakened as concerns over radiation leaks
More
Western warplanes hit Libya for a fifth night on Thursday, but so far have failed to stop Muammar Gaddafi's tanks shelling rebel-held towns or dislodge his armour from a strategic junction in the east. Gaddafi's tanks rolled back into Misrata under the cover of darkness and began shelling the area near the main hospital, residents
More
Seven-time world champion Michael Schumacher believes Mercedes has made "huge" progress with its car and is ready to challenge for podiums but has written off the team's championship hopes three days before the season-opening Australian Grand Prix. "Mercedes has done a huge step forward with this year's car, it's a very performance-orientated car and it
More
Australian bourse operator ASX says it continues to believe in the business logic of a proposed $7.6 bln takeover by Singapore rival SGX and also sees a need to take part in global bourse consolidation. The ASX made the comments in a letter to shareholders released Thursday as it ramps up lobbying efforts to try
More
Portuguese Prime Minister Jose Socrates resigned on Wednesday and warned of grave consequences for the country after parliament rejected his government's latest austerity measures aimed at avoiding a bailout. The move threw Portugal into uncertain political terrain after months of battling against growing investor concerns over its ability to tame its public finances and avoid
More
. Portuguese Prime Minister Jose Socrates resigned on Wednesday after parliament rejected his government's latest austerity measures, designed to help Portugal avoid having to seek an international bailout. IS A BAILOUT INEVITABLE? It looks likely. At around 7.8%, Portugal's 10-year government bond yield is well above the 7% level which many analysts think is unsustainable
More
The Bank of Cyprus shareholders’ EGM approved Wednesday the issue of 1.34 bln euros worth of Convertible Enhanced Capital Securities, an enhanced form of contingent convertible bonds, or CoCos, which are being considered by several banks to provide an extra buffer if capital is eroded. The meeting represented 38.2% of the bank’s shareholders and also
More
Oil seesawed on Wednesday, reversing earlier losses, as unrest flared in the Middle East and North Africa, a vital part of global energy supply. Expectations that weekly data due out later in the day will show an increase in crude inventories in the United States, the world's second largest energy consumer, capped oil price gains.
More
Britain's top share index was flat after the UK budget held few surprises on Wednesday, with strength from miners offsetting falls from supermarkets as Sainsbury missed sales forecasts. By 1332 GMT, the FTSE 100 was up 1.46 points at 5,764.17, retreating slightly from an intraday high of 5,802.44 reached before British finance minister George Osborne
More
Western airstrikes hit Libyan government forces' positions in the rebel-held city of Misrata on Wednesday, silencing an artillery bombardment but not snipers who were firing from rooftops near the hospital, residents said. Rebels in Misrata who have been fighting for weeks to hold off attacks on Libya's third largest city welcomed the air strikes, saying
More