International

• Thursday, July 14th 2011 - 23:50 UTC

  Murdoch and son James think twice and agree to testify before British Parliament

  

  Media tycoon Rupert Murdoch and his son James bowed late Thursday to threats to find them in contempt of British Parliament and agreed to testify about the phone-hacking scandal to lawmakers on July 19.

• Thursday, July 14th 2011 - 22:53 UTC

  Global economic prospects fragile and downside risks higher, says IMF

  

  The International Monetary Fund called on emerging G-20 economies for a rapid macroeconomic policy tightening and demand rebalancing, while “pragmatic use of macro-prudential tools may be needed to manage large capital inflows”.

• Thursday, July 14th 2011 - 18:38 UTC

  Gibraltar’s current debt level makes Europeans “green with envy”

  

  Gibraltar’s economy is performing well and its current debt levels are not a cause for concern said Professor Albrecht Ritschl from the London School of Economics interviewed by Radio Gibraltar to provide an independent assessment of the latest economic data presented in the local Parliament last week.

• Thursday, July 14th 2011 - 18:31 UTC

  Media tycoon Murdoch refuses a summons by British Parliament

  

  Media tycoon Rupert Murdoch refused a summons by Britain's parliament to answer questions over alleged crimes at one of his newspapers, leaving a senior executive from his media empire to face lawmakers keen to break the media mogul's grip on politics.

• Thursday, July 14th 2011 - 07:11 UTC

  Private sector involvement fundamental for Greek bailout, says IMF

  

  The IMF said private sector involvement was fundamental to a Greek bailout and urged Athens to move faster on fiscal and structural reforms to avoid debt default.

• Thursday, July 14th 2011 - 01:39 UTC

  Emerging markets help Volkswagen sell 4 million units in first half of 2011

  

  Germany’s Volkswagen has sold 4 million cars worldwide in the first half of 2011. The company hopes momentum from emerging markets will help it achieve its goal of selling 10 million cars annually before 2018.

• Wednesday, July 13th 2011 - 21:40 UTC

  EC checks into German government aid to car manufacturers

  

  European Commission is to examine aid paid out by the German government to car manufacturers BMW and Volkswagen. The money has been pledged to promote projects in eastern Germany.

• Wednesday, July 13th 2011 - 18:49 UTC

  Europeans countries borrowing on Germany’s credit rating is over, says Dragui

  

  Europe’s debt crisis has entered a new phase and policy makers must come up with a “clear” response to stop the contagion that threatens the region’s single currency, said the European Central Bank’s incoming President Mario Draghi.

• Wednesday, July 13th 2011 - 16:35 UTC

  Europe unveils plan to reform fishing industry and phase out ‘discards’

  

  European Commission has unveiled major plans to reform the EU fishing industry and stop catches being wasted. The proposal, due to take effect from 2013, would give fleets quota shares guaranteed for at least 15 years.

• Wednesday, July 13th 2011 - 16:12 UTC

  UK political system targets News Corporation: end of Murdoch’s empire?

  

  Rupert Murdoch's News Corporation has announced that it is dropping its planned bid to take full ownership of satellite broadcaster BSkyB. The announcement came as the House of Commons prepared to vote for a motion supported by all major party leaders calling on Mr Murdoch to do so.