News Cycles: Business - European Economy

Dollar climbs on renewed worries over Greece (AP)

Greece urges EU aid, but Germany 'open' to IMF appeal (AFP)

AFP - Greece warned Thursday it could turn to the IMF for help unless European leaders offered financial aid next week, as doubts over plans to rescue Athens from its debt crisis rocked the euro.

FTSE 100 shares in the red (AFP)

AFP - FTSE 100 shares ended in the red at the close of trade on Thursday as investors took profits and digested economic data including a larger-than-expected eurozone trade deficit.

Greece: Will ask for IMF help if EU fails (AP)

AP - Greece warned Thursday that it will be forced to turn to the International Monetary Fund if the EU can't agree to a bailout plan next week that will help reduce its market borrowing rates.

Strikes in Greece over proposed tax law overhaul (AP)

AP - Greek unemployment rose to 10.3 percent in the fourth quarter of 2009, the country's statistics agency said Thursday — the highest since 2005 and the largest jump in 11 years.

UK public sector debt climbs above 60 pct of GDP (AP)

European stocks slip on doubts over Greek rescue (AP)

AP - World stock markets fell Thursday and the euro weakened on concerns the European Union will not agree to give Greece concrete financial support, leaving it to potentially seek assistance from the International Monetary Fund.

FTSE 100 stocks dip at open (AFP)

AFP - Leading shares dipped at the open on Thursday as profit-takers moved to cash in on the previous day's gains.

Greek PM warns over effect of high borrowing costs (Reuters)

Italy sees self as resilient to economic collapse (AP)

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)

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.

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

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.

Greece warns it might revive IMF rescue option (AFP)

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)

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

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)

EU tells Britain to cut deficit faster (AP)

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)

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)

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)

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.