The economy of the euro zone contracted 0.2% in the second quarter after growing 0.7% the previous quarter, according to the latest EU data, which confirmed earlier estimates.
Stocks fell sharply on Wednesday as co-ordinated global interest rate cuts by major central banks failed to dispel the gloom engulfing world markets. On Wall Street, the Dow Jones ended 189.01 points lower, or 2%, at 9,258.1 despite having risen in earlier trade.
The world's fishing fleets are losing billions of dollars each year through depleted stocks and poor management, according to a UN report. The World Bank and the UN Food and Agriculture Organization (FAO) calculate the losses at 50 billion US dollars per year.
Gillian Merron has been named United Kingdom Parliamentary Under Secretary of State for the Foreign and Commonwealth Office, effective October 5. She joins the five-member ministerial team at the Foreign and Commonwealth Office, led by Foreign Secretary David Miliband.
Asian stock markets early Tuesday opened down sharply amid investor panic that global government action might not be enough to stem the financial crisis.
A passenger plane has made an emergency landing in Western Australia after 40 people were injured following a sudden change in altitude, police have said.
The Group of Seven is no longer effective and should be replaced by a steering group that includes new emerging economic powers like China, India and Brazil, World Bank President Robert Zoellick said on Monday.
Global bio-fuel policies should be urgently reviewed to ensure that the world's poor benefit by ending trade-distorting subsidies favouring developed nations while countering the rise in food prices sparked by the diversion of foodstuff to energy production, according to a new United Nations report released today.
Australia's central bank surprised financial market by cutting its key interest rate a full percentage point from 7% to 6%. The bank said the sharp cut was justified given the prospects for growth, even though inflation is currently above target.
British campaigners for a balanced migration policy welcomed hints from the Government's new immigration minister that he may seek limits on the number of migrants coming into the United Kingdom.