Greece must not lose time trying to renegotiate its foreign bailout but focus on reforms instead, European Central Bank policymaker Joerg Asmussen said today, in a blow to Greek hopes of winning quick concessions from its lenders.
Ratings agency DBRS said that a European deal to help the region's banks could be positive for Spain's financial firms, possibly sparing the country a rating cut that would trigger additional collateral at the European Central Bank.
GlaxoSmithKline Plc agreed to plead guilty to misdemeanor criminal charges and pay $3 billion to settle what government officials described as the largest case of healthcare fraud in US history.
Joblessness in the euro zone rose to a new record high in May, pushed up by lay-offs in France, Spain and even stable Austria, as the 2-1/2 year debt crisis continued to eat away at the currency bloc's fragile economy.
Japanese political heavyweight Ichiro Ozawa and dozens of other lawmakers quit the ruling party over a plan to increase the sales tax, but the government will retain its majority in the powerful lower house of parliament.
When the Supreme Court upheld President Barack Obama's healthcare law as constitutional last week, it gave a little something to his Republican foes: The court declared that the fee charged to most Americans who refuse to buy health insurance amounts to a tax - and not a penalty, as Obama says.
More than 2.1 million people from Illinois to Virginia remained without power this morning after violent storms struck over the weekend, and a heat wave continued to blanket much of the region.
US Stocks were only slightly lower today as expectations of more stimulus from the Federal Reserve put a floor in the market after data showed the manufacturing sector contracted for the first time in nearly three years last month.
World powers struck an agreement that a transitional government should be set up in Syria to end the conflict there but they remained at odds over what part President Bashar al-Assad might play in the process.
Icelandic President Olafur Grimsson has won a record fifth term in office, riding a wave of support for his defiance of Britain and the Netherlands over massive debts from a bank crash and asserting the tiny nation's stubbornly independent streak.