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Business - European Economy

Greek bailout tops EU finance ministers' agenda (Reuters)

Reuters - Finance ministers from countries using the euro hope to agree on Monday on a way of providing heavily indebted Greece with financial aid, despite French and German doubts that a deal will be reached.

"No need" for Greek bailout decision - German finance minister (Reuters)

Reuters - German Finance Minister Wolfgang Schaeuble said there was no reason for Euro zone finance ministers to make any decision on financial aid for debt-ridden Greece when they met on Monday.

Euro finance ministers to agree on Greek aid: source (Reuters)

Reuters - Euro zone finance ministers are likely to agree on Monday on a mechanism for aiding Greece financially, if it is required, but will leave out any sums until Athens asks for them, an EU source said on Saturday.

France's Lagarde not expecting decision on Greece (Reuters)

Reuters - French Economy Minister Christine Lagarde said on Saturday that she does not expect Euro zone finance ministers to make any decision on financial help for Greece when they meet next week.

Police: Suspect in poker heist released (AP)

AP - Berlin police said Saturday they had released a man previously suspected of taking part in the storming last weekend of a poker tournament in which armed robbers made off with euro240,000 ($328,000) in jackpot money.

German finance ministry unaware of Greek bailout deal (Reuters)

Reuters - The German Finance Ministry said on Saturday it was not aware of any agreement by euro zone members to provide a multi-billion euro bailout package for heavily indebted Greece.

Euro zone agrees bailout for Greece: report (Reuters)

Reuters - The euro zone has agreed a multi-billion euro bailout for heavily indebted Greece as part of a package to support the euro, the Guardian newspaper reported on Saturday.

UBS says IRS has 20 Swiss banks in its sights (AP)

AP - Embattled UBS AG has warned that Switzerland's financial industry is at risk unless lawmakers approve a tax treaty with the U.S., and that other Swiss banks may be next to face pressure from American regulators.

EU ministers to map out Greek rescue plan (AFP)

AFP - Detailed options for concrete European-level financial support to help Greece out of its debt crisis will be presented to eurozone finance ministers next week, sources said Friday.

FTSE shares close higher (AFP)

AFP - FTSE 100 shares ended slightly higher on Friday on news that retail sales in the United States rose unexpectedly in February for the second straight month.

Greece says deficit goals on target so far (AP)

AP - Greece said Friday it exceeded its deficit-cutting targets in January and February, ahead of a key fiscal assessment next week by the European Commission.

Sarkozy lauds British PM ahead of election (AFP)

AFP - French President Nicolas Sarkozy showered praise on British Prime Minister Gordon Brown Friday weeks before a general election here, but rebuked Brown's main rival over his policy in Europe.

Global oil demand seen higher in 2010 (AP)

AP - World oil demand will rise this year due to surging economic activity in Asian countries, especially China, the International Energy Agency said Friday as it bumped up its forecasts.

'IMF' for Europe should carry high price: German minister (AFP)

AFP - German Finance Minister Wolfgang Schaeuble again voiced support on Friday for the idea of a European monetary fund (EMF) to help eurozone nations in crisis, but stressed that any aid would have to come with draconian penalties.

Brian Pitman, former Lloyds Bank CEO, dies at 78 (AP)

AP - Sir Brian Pitman, the banker who led Lloyds TSB to become one of Europe's largest financial groups, has died at age 78, the British Bankers' Association said Friday.

German minister: EMF aid would come at heavy price (AP)

AP - Emergency aid from a proposed European Monetary Fund should come with strict conditions and a "prohibitive" price tag to boost market confidence, Germany's finance minister wrote in an article published Friday.

US retail sales give world stocks another lift (AP)

AP - LONDON AP) — European and U.S. stock markets rose Friday after better than expected figures on both sides of the Atlantic helped ease concerns about the pace of economic recovery.

S&P raises Ukraine's credit rating (AP)

AP - Ratings agency Standard & Poor's has increased Ukraine's sovereign credit rating by one notch, saying reduced political risks after an election will help it raise money and access bailout loans.

Eurozone industrial productions soars in January (AP)

AP - Industrial production in the 16 countries that use the euro spiked by an impressive 1.7 percent in January from the month before, official figures showed Friday, raising hopes that the recovery from recession may be more buoyant than expected.

Police clash with protesters as Greeks fight cuts (Reuters)

Reuters - Police clashed with stone-throwing youths in Athens on Thursday as tens of thousands of strikers protested against draconian cutbacks aimed at pulling Greece out of a debt crisis shaking the euro zone.