Greek govt says EU/IMF bailout is 'only hope'  2010-05-07 09:53:50

Greece's only hope of avoiding bankruptcy is to take money from a joint EU and International Monetary Fund rescue package.

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Dow down 3% after deepest intra-day plunge  2010-05-07 09:23:58

US stocks tumbled more than three percent across the board on Thursday after fears of contagion from Greece debt crisis triggered unprecedented sell-off during trading.

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South Korea calls for global financial safety net  2010-05-07 09:30:56

South Korea, which will host the November meeting of the Group of 20 (G20) leading economies in Seoul, will push for an agreement on a global financial safety net that would help developing countries ward off external shocks, a top summit official said on Thursday.

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Geithner, Paulson to address meltdown probe  2010-05-06 17:21:56

A special panel investigating the financial crisis is preparing to hear from two key architects of the government's response: Former Treasury Secretary Henry Paulson and Treasury Secretary Timothy Geithner.

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Greek bank workers strike over deaths  2010-05-06 17:04:06

Greek bank workers walked off the job in a 24-hour strike Thursday to protest the deaths of three colleagues trapped in a bank torched by protesters during massive demonstrations against the government's new harsh austerity measures.

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Irish, Scottish airports reopen as ash heads west  2010-05-06 16:52:57

All airports in Scotland and Ireland reopened Thursday after the latest engine-wrecking ash cloud from Iceland's volcano drifted west back into the Atlantic.

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Double-dip beckons for the English patient  2010-05-06 10:17:30

The UK private sector is ailing and still needs a good deal of nursing. Cut public spending now and large numbers of firms, especially small ones, will fail.

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RBA raises the bar for further rate increases  2010-05-06 10:00:10

The Reserve Bank of Australia (RBA) signaled a higher bar for interest-rate increases after becoming the world's first major central bank to withdraw "emergency" stimulus used during the global financial crisis.

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Spain's industrial production sees first increase in two years  2010-05-06 09:15:22

Spain's industrial production rose an unadjusted 6.8 percent in March on an annual basis, the first upturn since April 2008, according to official data released Wednesday.

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Wall St tumbles on fear Greek crisis could spread  2010-05-05 11:53:49

Investors dumped US stocks on Tuesday in Wall Street's worst session in three months on the fear that even with a bailout for Greece, Europe's debt crisis could spread to other weak euro zone countries.

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