European shares fell in early trade on Wednesday as investors shrugged off a Federal Reserve rate cut and focused instead on worries about more banking sector losses. At 0939 GMT, the FTSEurofirst 300 index of top European shares was down 1.5 percent at 822.69 points, led lower by a 14-percent fall in BNP Paribas after

All nine members of the Bank of England Monetary Policy Committee voted for this month's 1 percentage point cut in interest rates and discussed whether an even bigger reduction might be needed. Minutes of the MPC's Dec. 3 and 4 meeting, published on Wednesday, showed policymakers did not even think of lowering rates by less

The number of Britons out of work and claiming benefit rose for a 10th consecutive month in November and by the largest amount since March 1991, official data showed on Wednesday. The leap of 75,700 was much more than expected and took the total number of people claiming jobless benefit to over one million for

A government bailout for automakers was being assembled as quickly and carefully as possible, Treasury Secretary Henry Paulson said on Tuesday as a new ratings report showed that bankruptcy was the most likely restructuring scenario for the industry. The Bush administration came under renewed pressure from fellow Republicans who urged the government extract stiffer concessions

Mobile phone sales will shrink next year at their fastest pace ever as consumers cut spending, a Reuters poll showed, with analysts increasingly concerned about unsold phones piling up in stores. On average, the poll of 36 analysts shows global market volumes shrinking 6.6 percent next year and 5.7 percent in the fourth quarter —

Lawyers in Australia expect the internet social network site Facebook to become a new way of tracking down defendants after a landmark court ruling. The Supreme Court in Australia's capital Canberra has ruled that Facebook is a sufficient way of serving legal documents to defendants who cannot be found. The case surrounded a couple who