Greece races to raise funds on back of EU lifeline

Greece raced to raise billions of euros on Monday with a seven-year bond issue on the back of a European Union financial lifeline to contain a debt crisis which has weakened the euro. The issue attracted offers worth 6.5 billion euros (8.7 billion dollars) at a yield, or rate, of 6.0 percent and the state is expected to settle for five billion euros, financial website euro2day.gr reported with finance ministry sources. That rate is about... [more]

European shares boosted by miners

Europe’s main stock markets gained on Monday as rising metals prices boosted the share prices of major mining companies, dealers said. In late morning trade, London’s benchmark FTSE 100 index gained 0.18 percent to 5,713.26 points, Frankfurt’s DAX 30 won 0.74 percent to 6,164.98 points and the Paris CAC 40 added 0.43 percent to 4,006.03. The Stoxx 50 index of top eurozone shares increased by 0.41 percent to 2,952.92 points. In... [more]

Euro deal for IMF to aid Greece at hand

Europe moved within striking distance late on Tuesday of a deal to allow debt-laden Greece to send for IMF aid, with leaders due to announce an agreement within 36 hours. Greece’s partners in the 16-nation eurozone were “close” to concluding an accord giving the IMF the “central” role in granting Athens loans, in exchange for tough sanctions for eurozone budget transgressors, a European diplomatic source told... [more]

Ransom paid in Paris for British boy taken in Pakistan, five detained

A ransom for a five-year-old British boy kidnapped in Pakistan and freed this week was paid in Paris, Spain’s interior ministry said Wednesday, adding five people have been detained. Authorities detained three people in Spain and two in France, the ministry said in a statement, which came a day after the boy was recovered in good condition after being left in a field in Pakistan. Two of those arrested in Spain, in Tarragona in the... [more]

Europe shames its major powers over debts

The European Union accused its major powers on Wednesday of running away from bulging government deficits, after Germany warned that repeat eurozone offenders deserve expulsion from the bloc. EU budgetary watchdogs attacked overly “optimistic” growth assumptions masking bloated national budgets, with Britain firmly in the firing line over “uncertainty” in its spending plans. Britain, France, Germany, Italy and Spain... [more]

Fierce storms Hits Europe France killed 51

A violent late winter storm with fierce rain and hurricane-strength winds ripped across western Europe on Sunday, batteringFrance and four other countries, leaving at least 51 people dead. The storm, named Xynthia, was the worst in France since 1999 when 90 people died. Many of the 45 victims in France drowned, while others died when hit by parts of buildings or trees and branches that were ripped off by the wind. At least a dozen people... [more]

Spanish protests against higher retirement age

In Spain, thousands of people have taken to the streets to protest against the raising of the retirement age. There were demonstrations in several cities, including Madrid, Barcelona and Valencia. Raising the retirement age from 65 to 67 is just one of the measures Prime Minister José Luis Rodríguez Zapatero hopes will reduce his country’s budget shortfall of 11 percent. The Spanish economy, the fifth largest in Europe, has been... [more]

EU ministers call for common electric car strategy

EU industry ministers on Tuesday pressed the European Commission to establish a common strategy to develop electric cars. Ministers and industry representatives discussed the future of electric vehicles, which are seen as both an environmental necessity and an opportunity for economic growth, at an informal meeting in San Sebastian, northern Spain. Madrid currently holds the rotating EU presidency and the Spanish Industry Minister Miguel... [more]

Teenage Spanish matador faces 6 bulls

A 16-year-old Spanish matador killed six bulls in one afternoon Saturday, pulling off a feat normally attempted only by seasoned veterans and winning trophies for his bravery — ears from animals he had just slain. Jairo Miguel Sanchez Alonso, who nearly died from a horrific goring inMexico in 2007, smiled broadly and waved to a friendly hometown crowd after the series of fights which took about two and a half hours. The tall, slender... [more]

Today in History – 2nd Feb.

Today is Tuesday, Feb. 2, the 33rd day of 2010. There are 332 days left in the year. This is Groundhog Day. Today’s Highlight in History: On Feb. 2, 1848, the Treaty of Guadalupe Hidalgo, ending the Mexican-American War, was signed. On this date: In 1536, present-day Buenos Aires, Argentina, was founded by Pedro de Mendoza of Spain. In 1653, New Amsterdam — now New York City — was incorporated. In 1870, the “Cardiff... [more]

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