Greek Prime Minister George Papandreou reshuffled his cabinet early on Tuesday to try to better deal with the debt crisis and signalled he would stay the fiscal course by leaving his finance minister unchanged. Less than a year since coming to power, Papandreou switched several ministers around in an effort to improve ministries dealing with
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British bank Barclays is to add up to 600 new jobs in Scotland where the financial services industry has been hit hard by the financial crisis. Barclays said on Monday it will add the jobs in Glasgow, supported by a grant of up to 6.6 mln pounds from Scottish Enterprise that is conditional on the
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Farm aid should be reduced to about one third of the European Union's budget and spending could be shifted towards research and innovation, the EU's budget chief said on Monday. Budget Commissioner Janusz Lewandowski said talks that are about to start on the EU budget, now worth about 130 bln euros annually, could be the
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Greek bank deposits shrank for a seventh straight month in July as consumers and businesses withdrew cash balances to cope with austerity or ship money abroad to shelter it from the country's sovereign debt crisis. Deposits of businesses and households dropped to 212.3 bln euros in July, down from 216.5 bln euros in the previous
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World stocks rose on Monday on hopes that the U.S. can avoid slipping back into recession, although the International Monetary Fund's chief economist warned of weak growth in both the United States and Europe. With U.S. markets closed for the Labour Day holiday, Friday's encouraging news about the employment picture continued to spill over onto
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. Australian Labor Prime Minister Julia Gillard will know on Tuesday if she can form a new minority government with the support of three independents, ending more than two weeks of uncertainty after the August 21 elections. Independent Tony Windsor said the impasse should end on Tuesday morning, but there was a risk the three
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. Japan needs fiscal reform targets to tackle its massive debt but existing goals heavily influenced by bureaucrats should be reviewed, said an aide to the ruling party powerbroker challenging Prime Minister Naoto Kan. Party heavyweight Ichiro Ozawa, challenging Kan in a party leadership election on September 14, has promised to put politicians, not bureaucrats,
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Banks in the United Arab Emirates have been directed by the central bank to provide more frequent details of remittances to Iran, bankers said on Monday, in an apparent tightening of scrutiny in line with U.N. sanctions. The United Arab Emirates, a U.S. ally with a large expat Iranian population in the emirate of Dubai,
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Sales of new cars in Britain fell 17.5% in August from a year ago, falling for the second consecutive month following the end of an incentive scheme to scrap old models, the Society of Motor Manufacturers and Traders said on Monday. The market will remain tough for the rest of the year, the SMMT said,
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Britain's leading shares rose on Monday, led by banks and commodity stocks as risk appetite remained after a better-than-expected U.S. jobs report in the previous session. Cable & Wireless Worldwide gained on bid talk. The British telecoms firm added 7.0%, topping the list of blue chip risers and hitting a seven-week high, with traders citing
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