British Members of Parliament should no longer be able to claim for their mortgages or employ family members at the taxpayers' expense, the long-awaited report by the standards watchdog has said.
Chinese energy giant China National Offshore Oil Corporation (CNOOC) has bought oil assets in the US for the first time. CNOOC purchased limited stakes in four deepwater exploitation licences in the Gulf of Mexico from Norway's Statoil. The size of the deal is secret, but Statoil said it was small.
General Motors decision to hang on to its European car unit Opel including Vauxhall in Britain, was welcomed in the UK but met with anger in Germany. Unite union chief Tony Woodley, a former Vauxhall worker, hailed the news as a fantastic decision.
The price of gold has touched an all-time high after a large sale of the precious metal by the International Monetary Fund (IMF) to India. Gold struck a high of 1,095.05 an ounce in London, against 1,084.50 late in New York on Tuesday.
The number of children in British families living on benefits has increased by 170,000 over the past year, with child poverty growing in affluent as well as traditionally hard hit areas, according to a new report.
The European Union's economy is set to rebound in 2010, recording a growth rate of 0.7% before accelerating to a rate of 1.6% in 2011, the bloc's executive said Tuesday. However some economies will emerge from recession faster than others and among those lagging well into 2011 are Spain and Ireland.
Britain’s Chancellor of the Exchequer Alistair Darling welcomed Tuesday the announcements that Royal Bank of Scotland (RBS) and Lloyds Banking Group are to sell off hundreds of branches.
Spain's registered jobless rose for the third consecutive month in October reaching 19.3%, as stimulus spending began to run out and the boost from the busy summer period faded.
Iraq's oil ministry has signed an initial agreement with a consortium led by the Italian firm, ENI, to develop the Zubair oilfield in southern Iraq. The deal which needs cabinet approval calls for the group to extract 200,000 barrels of oil a day, rising to 1.1 million a day within seven years.
French Defence minister Hervé Morin said that Argentina could increase its international influence following on the steps of Brazil, which is currently modernizing its military hardware and planning on the long term.