International

• Monday, May 10th 2010 - 03:29 UTC

  German Highest Court Rejects Attempt to Block Rescue Aid to Greece

  

  Germany's highest court on Saturday rejected a request by a group of academics to block the immediate release of Berlin's multi-billion-euro loan to debt-stricken Greece.

• Saturday, May 8th 2010 - 06:36 UTC

  Tories and Lib Dems Hold Coalition Talks; Agree PM Brown Should Walk Down

  

  Conservative leader David Cameron has reached out to the Liberal Democrats in an effort to form a government after the UK general election resulted in a hung parliament. The Tory leader, whose party won most seats but was short of a majority, said he wanted to make a “big open and comprehensive offer” to the Lib Dems.

• Saturday, May 8th 2010 - 06:17 UTC

  Fearing Global Impact from Greece, World Markets Close Sharply Friday

  

  Global stock markets closed sharply Friday amid investor fears that Greece's debt crisis could halt the global economic recovery.

• Saturday, May 8th 2010 - 06:06 UTC

  Spain Emerges from Two-Year Recession with More Doubts than Certainties

  

  Spain’s economy emerged from an almost two-year recession in the first quarter, trailing the Euro area by six months. GDP expanded 0.1% in the first three months of 2010, the Madrid-based Bank of Spain estimated in its monthly report today.

• Saturday, May 8th 2010 - 01:42 UTC

  EU Full Support for Euro (and Greece) to Fight Contagion: Creates Stabilization Mechanism

  

  Leaders of the 16 EU member states that use the Euro have approved a 110 billion Euro loan to Greece to prevent its debt crisis from spreading. European Commission President José Manuel Barroso said the Eurozone would do whatever it took to safeguard Greece's financial stability. In return for the three-year loan, Athens must cut public spending.

• Friday, May 7th 2010 - 05:42 UTC

  Hung Parliament in UK: Labour Looses but Cameron Short of a Majority

  

  British Conservative Leader David Cameron said the Labour government has lost its mandate to govern, as exit polls suggested the Tories have won the largest number of seats in Britain's national election, but will not gain a majority.

• Friday, May 7th 2010 - 05:36 UTC

  Greek Default “Is Not an Option” and “Never Has Been” Says IMF

  

  A default by Greece on its debt obligations is not and has never been an option, a spokeswoman for the International Monetary Fund (IMF) said on Thursday. A Greek “default is not on the table, has not been on the table” insisted IMF director of external relations Caroline Atkinson.

• Friday, May 7th 2010 - 05:33 UTC

  ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

  

  European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.

• Friday, May 7th 2010 - 05:31 UTC

  Chinese Shares Plunge to 8 Month Low on Fears of Tight Credit

  

  Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.

• Friday, May 7th 2010 - 03:33 UTC

  French Navy Locates Black Box from Air France that Plunged into the Atlantic

  

  The French navy has located the black box flight recorders from the Air France (EPA:AF) jet which plunged into the Atlantic killing 228 people last summer. However, officials said there was still no guarantee the recorders—that could explain the cause of the crash—would ever be brought to the surface.