The European Court of Auditors has called on the European Commission to assess the high risks involved, including corruption, when large sums of EC aid are channelled directly through public budgets in developing countries in Latin America, Africa and Asia.
Having pushed through a strong safeguard clause to protect European industry and received guarantees from Seoul that the new Korean legislation on car CO2 emission limits would not be detrimental to European car makers, the Parliament on gave its consent to the most ambitious trade agreement the EU has ever negotiated.
The International Monetary Fund will warn G20 finance ministers this weekend of growing risks to the world economy from surging food prices and public finances while also advocating a somewhat weaker dollar.
A report sponsored by the UN Environment Program finds that over the past decade, global ozone levels, and ozone levels in the Arctic and Antarctic regions are at a turnaround point -- no longer decreasing but not yet increasing.
Gold rose Thursday to a one-month high as rising consumer prices in United States and the UK boosted investor demand for an inflation hedge. Silver touched a 30-year high.
London has beaten New York, Tokyo and Paris to become the world's highest grossing shopping city.
The UK capital, which boasts more big-name stores than any other, had the highest retail sales last year, with shoppers spending £62.4billion.
Imports restrictions imposed this week by the Argentine government with the purpose of “preserving the re-industrialization process” cover approximately 200 products totalling annual imports of a billion US dollars, according to preliminary reports.
The European Central Bank is not surrendering its price stability objective for crisis management policy, the bank's President Jean-Claude Trichet said. He also argued that the recent spike in Euro zone inflation is due to the current rapid economic recovery in emerging markets and not due to the currency bloc's sovereign debt crisis.
Anglo Australian mining giant BHP Billiton chief executive Marius Kloppers confirmed reports that he is fearful of espionage from China, competitors like Rio Tinto and the Australian government, saying it is one reason why he lobbied furiously for short-term pricing of key commodities.
Google wants to become the hub of online travel, promising better bargains and more convenience by melding the internet search leader's capability with the web's top airline-fare tracker, ITA Software.