World stocks extended sharp falls on Friday while government bonds rose as a global rout triggered by fears of contagion from the euro zone debt crisis prompted investors to dump risky assets. Sterling hit a one-year low against the dollar and tumbled against the euro after incomplete results of a UK general election suggested no

Britain looks set for a hung parliament where no individual party has overall control for the first time since 1974. Below is a look at a few of the scenarios that could play out: CONSERVATIVE MINORITY GOVERNMENT * Probability: possible If the Conservatives fall short of a parliamentary majority but gain the most seats, as

The European Commission sees a "deep but inevitable adjustment" for the Greek economy, in its spring report on the EU member-states' economies for the period 2010-2011 published in Brussels and released on Thursday. The EU's executive said it expected a deep economic recession in Greece this year with -4.0 pct contraction in 2010 followed by

The Green Party made its most significant political breakthrough in Britain on Friday when it won its first ever national parliamentary seat in the southern English seaside city of Brighton. Caroline Lucas, the environmental party's leader and a Member of the European Parliament for South East England, won the Brighton Pavilion seat, overturning a Labour

U.S. Treasury Secretary Timothy Geithner will discuss efforts to get aid to debt-stricken Greece with fellow finance ministers from Group of Seven nations on Friday, a Treasury spokesman said on Thursday. Finance ministers from the G7 — the United States, Britain, Canada, France, Germany, Italy and Japan — are expected to hold a conference call

Planning your next holiday for 2010? Here is a list of the world's best travel spots recommended by travel website TripAdvisor (www.tripadvisor.com). This list is not endorsed by Reuters. 1. Best Destination in the World — Monaco. Monte-Carlo is home to the celebrated Monte Carlo Casino. This glamorous palace is full of frescoes, sculptures, and

Shock waves from the relatively small Greek economy reverberated around the world, as investors worried about the chances of other European governments facing a similar debt crisis. Group of Seven finance ministers said they would discuss the Greek bailout later on Friday after Federal Reserve officials expressed concern and the Whitehouse said President Barack Obama

Following the recent downgrade of Greek banks as a result of sovereign weakness, the potential contagion of sovereign risks to banking systems could spread to other countries such as Portugal, Spain, Italy as well as Ireland and the UK, Moody's Investors Service said in a new special comment Overall, Moody's noted that each of these