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    Business - European Economy

    • Greece may seek IMF help (Reuters)
      Reuters - Greece may seek financial aid from the International Monetary Fund next month because it is growing increasingly pessimistic about the prospect of help from the European Union, Dow Jones Newswires reported on Thursday.
    • Italy sees self as resilient to economic collapse (AP)

      FILE - In this file photo taken Feb. 3, 2010, oncoming demonstrators shout slogans during a labour strike outside the Fiat Mirafiori assembly plant in Turin, northern Italy. Will the Italian economy be the next to face a crisis? Italians, by nature prone to living in the moment, aren't much worried. But even as Greece wins temporary respite from its debt crisis, Italy remains in the sights of the world's euro-skeptics for good reasons. (AP Photo/Massimo Pinca, File)AP - As Greece wins at least temporary respite from its debt troubles, will Italy be the next to face a crisis?


    • Merkel: eurozone expulsion should be possible (AP)

      German Chancellor Angela Merkel is seen during her speech at the German Federal Parliament (Bundestag) in Berlin, Germany, Wednesday, March 17, 2010. Chancellor Angela Merkel called the sex abuse scandal rocking the homeland of Pope Benedict XVI a major challenge to German society and warned the only way to come to terms with it was to 'find out everything that has happened.' Speaking out on Wednesday for the first time since allegations of abuse at a school linked to Berlin's Roman Catholic church initially surfaced in January, Merkel suggested compensation for victims and considering an extension on the current statute of limitations for filing claims against abusers. (AP Photo/Michael Sohn)AP - German Chancellor Angela Merkel said Wednesday there should in future be a mechanism to expel countries from the eurozone as a last resort if they persistently break its financial rules.


    • Greece may turn to IMF if EU fails to deliver (AP)

      FILE - In this file photo taken Feb. 3, 2010, oncoming demonstrators shout slogans during a labour strike outside the Fiat Mirafiori assembly plant in Turin, northern Italy. Will the Italian economy be the next to face a crisis? Italians, by nature prone to living in the moment, aren't much worried. But even as Greece wins temporary respite from its debt crisis, Italy remains in the sights of the world's euro-skeptics for good reasons. (AP Photo/Massimo Pinca, File)AP - Greece could seek IMF funding to help overcome its debt crisis, if its EU partners do not provide "clear support" next week, government officials said Wednesday.


    • 5 arrested in British boy's abduction in Pakistan (AP)

      **RETRANSMISSION REMOVING RESTRICTIONS** Akila Naqqash kisses a picture of her son Sahil Saeed, 5, who has been found safe and well after he was kidnapped by gunmen in Pakistan, at their home in Oldham, England, Tuesday March 16, 2010. Sahil Saeed, was found in a small village in Punjab province, some 20 miles (30 kilometers) southeast of Jhelum city where armed robbers seized him from his grandparents home on March 4, Pakistan's Interior Minister Rehman Malik said. British High Commissioner Adam Thomson expressed relief the boy had been found and thanked Pakistani authorities for their cooperation in the search.(AP Photo/Dave Thompson, pool)AP - Police have arrested five people in the kidnapping of a 5-year-old British boy in Pakistan and recovered more than 100,000 pounds ($150,000) in ransom money, authorities said Wednesday.


    • FTSE 100 posts solid gains (AFP)

      FTSE 100 shares posted solid gains on Wednesday as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said.(AFP/File/Shaun Curry)AFP - FTSE 100 shares posted solid gains on Wednesday as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said.


    • Greece warns it might revive IMF rescue option (AFP)

      Customers walk through Athens main fish market. Greece warned on Wednesday it might have to seek help from the International Monetary Fund if the European Union does not do more to help it out of a debt crisis.(AFP/Louisa Gouliamaki)AFP - Greece warned on Wednesday it might have to seek help from the International Monetary Fund if the European Union does not do more to help it out of a debt crisis.


    • OPEC decides leave output unchanged (AP)

      Ecuador's Minister of non-renewable natural resources and President of the OPEC conference Germanico Alfredo Pinto Troya, OPEC's Secretary General Abdalla Salem El-Badri of Lybia, Austrian Foreign Minister Michael Spindelegger and Vienna's Mayor Michael Haeupl, standing from left, applaud during the official opening ceremony of OPEC's new headquarters and the organization's 50th anniversary, on Wednesday, March 17, 2010, in downtown Vienna. (AP Photo/Hans Punz)AP - OPEC oil ministers on Wednesday opted to keep their output targets unchanged in a bid to keep prices at present levels and send a message of stability to energy-hungry economies struggling to emerge from recession.


    • IMF: chance to overhaul global economy is receding (AP)

      Managing Director of the International Monetary Fund (IMF) Dominique Strauss-Kahn gestures while addressing the Committee on Economic and Monetary Affairs of the European Parliament at the European Parliament in Brussels, Wednesday March 17, 2010. (AP Photo/Thierry Charlier)AP - Nations risk losing a window of opportunity to fix the global financial system in the wake of the credit crisis if they do not push reforms through soon, the head of the International Monetary Fund warned Wednesday.


    • IMF joins global calls for China to let yuan rise (AFP)

      A bank worker counts a stack of US dollars together with stacks of 100 Chinese yuan notes at a bank in eastern China's Anhui province. The International Monetary Fund on Wednesday lent its support to calls by the United States for China to allow its AFP - The International Monetary Fund on Wednesday lent its support to calls by the United States for China to allow its "much undervalued" currency to rise, amid EU complaints of protectionism.


    • EU warns 5 major eurozone nations on budgets (AP)
      AP - The European Union on Wednesday warned Germany, France, Spain, Italy and the Netherlands that they are relying too much on a strong economic recovery to meet debt reduction targets.
    • UK unemployment edges down in January quarter (AP)
      AP - Unemployment in Britain dropped to 7.8 percent in the three months through January from the previous quarter's 7.9 percent, the first such decline since May 2008 as the economy emerged from recession, official statistics showed Wednesday.
    • EU tells Britain to cut deficit faster (AP)

      Italy's Finance Minister Giulio Tremonti, center, talks with Britain's counterpart Alistair Darling, left, and Tonio Fenech of Malta, right, at the EU finance ministers meeting in Brussels, Tuesday, March 16, 2010. Finance ministers of the 27 EU nations review Greek austerity measures and other financial regulations reform to ease the financial crisis. (AP Photo/Yves Logghe)AP - The European Union's executive told Britain on Wednesday to speed up its deficit cuts, warning that the government is too optimistic about economic growth — a warning Britain says it will ignore.


    • BMW sees economic crisis past lowest point (AP)

      BMW CEO Norbert Reithofer drinks a glas of water during the company's annual balance conference in Munich, southern Germany, on Wednesday, March 17, 2010. German auto group BMW AG says the economic crisis has probably reached its lowest point and that its car market could see growth in a single-digit percentage range in 2010. BMW said Wednesday net profit for the whole of 2009 fell 37 percent to 204 million euros (US dlrs 282 million) from 324 million euro in 2008. Revenue for the year fell nearly 4 percent to 51 billioneuro from 53 billion euro in 2008. The results were in line with preliminary results released earlier this month. (AP Photo/Matthias Schrader)AP - German auto group BMW AG says the economic crisis has probably reached its lowest point and that its car market could see growth in a single-digit percentage range in 2010.


    • London stocks rally (AFP)

      London stocks have risen after bumper gains earlier in Asia, as investors welcomed the US Federal Reserve's upbeat economic outlook.(AFP/File/Shaun Curry)AFP - London stocks rose Wednesday after bumper gains earlier in Asia, as investors welcomed the US Federal Reserve's upbeat economic outlook, analysts said.


    • 2 suspects nabbed in Berlin poker heist (AP)

      File photo of a player sorting his poker chips in Las Vegas. US casinos have run into a string of bad luck as the recession and other factors cut into gambling revenues, even as more states move to get a piece of the action.(AFP/File/Robyn Beck)AP - A man who admits he took part in a brazen daylight raid on a poker tournament in Berlin surrendered to authorities and identified three suspected accomplices, one of whom was later arrested, officials said Wednesday.


    • Metro 2009 net income falls 7 percent (AP)
      AP - German retailer Metro AG said Wednesday its 2009 net income fell 7 percent to euro519 million ($716 million) as the economic downturn cut into sales at most divisions, including its Kaufhof department stores and Cash & Carry wholesale outlets.
    • EU backs Greek austerity as standby aid readied (Reuters)
      Reuters - EU finance ministers backed plans on Tuesday by countries in the euro area to help debt-stricken Greece financially if it becomes the first state in 11 years of monetary union to seek such aid.
    • US warns EU derivatives ban won't work (AP)

      US Commodities and Future Trading Commission Chairman Gary Gensler addresses the Committee on Economic and Monetary Affairs of the European Parliament at the European Parliament in Brussels, Tuesday March 16, 2010. (AP Photo/Thierry Charlier)AP - Europe's threat to ban the sort of financial derivatives trading that some blame for worsening Greece's debt crisis wouldn't work, a senior U.S. official told EU lawmakers Tuesday.


    • Franco-German spat fuels EU economic debate (AFP)

      French Finance Minister Christine Lagarde arrives in the meeting room prior to an Eurogroup council on March 15, at the EU headquarters in Brussels. An economic policy dispute between France and Germany threatens to distract the eurozone as it faces fierce competition from Asian rivals, analysts and German media warned Tuesday.(AFP/File/Georges Gobet)AFP - An economic policy dispute between France and Germany threatens to distract the eurozone as it faces fierce competition from Asian rivals, analysts and German media warned Tuesday.