
Europe must cooperate more closely if it wants the Euro to succeed as its shared currency, and it still has a long way to go to overcome its sovereign debt crisis, German Chancellor Angela Merkel said in her New Year's Eve address.

By Nouriel Roubini (*) - The outlook for the global economy in 2012 is clear, but it isn’t pretty: recession in Europe, anemic growth at best in the United States, and a sharp slowdown in China and in most emerging-market economies.

More than 100 journalists or other media staffs were killed in 2011, up from last year's toll, the International Federation of Journalists (IFJ) said, calling on UN Secretary General Bank Ki-moon to act to help protect the profession.

UK government has awarded 46 new offshore exploratory drilling licences to firms, including Shell and Centrica, looking for oil and gas. The awards were initially held back due to environmental concerns.

Former Prime Minister Margaret Thatcher was warned about the risks in slashing Britain's navy, a year before the 1982 Argentine invasion of the Falkland Islands, secret files released Friday showed.

British ministers feared the closure of Gibraltar’s naval dockyard would throw the local budget into “chronic deficit” and precipitate a “constitutional crisis” according to newly-released files, some of which were published by the Gibraltar Chronicle.

North Korea sounded on Friday a bellicose note in its first communication with the outside world since the death of leader Kim Jong-il, saying its confrontational stance against South Korea would not change and labelling its opponents foolish.

Spain's new government revealed on Friday that the public deficit for 2011 would come in at 8% of GDP, well above a target of 6%, and announced income and property tax hikes and a civil servant wage freeze in response.

Some 8 million people received emails from the New York Times on Thursday offering a special discount if they would reconsider their decision to cancel their subscriptions.

The biggest collection of Titanic artefacts is to be sold off as a single lot in an auction timed for the 100th anniversary in April of the sinking of the famed ocean liner.