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Euro zone loses patience with Greece
(Reuters)
Reuters - Euro zone finance ministers told Greece on Saturday it could not go ahead with an agreed deal to restructure privately-held debt until it guaranteed it would implement reforms needed to secure a second financing package from the euro zone and the IMF.
Eurogroup's Juncker warns of possible Greece default
(Reuters)
Reuters - The possibility of a sovereign default by Greece cannot be ruled out, Jean-Claude Juncker, head of the Eurogroup of finance ministers from the single currency zone, said in a German magazine on Saturday.
Clock ticks on Greece's bailout deadline
(Reuters)
Reuters - Greek Prime Minister Lucas Papademos faces a critical task of convincing international lenders and political party leaders on Sunday to agree to the stringent terms of a 130 billion euro ($171 billion) rescue plan to stave off looming default.
Micron appoints Durcan CEO after Appleton's death
(Reuters)
Reuters - Memory chipmaker Micron Technology's board appointed company veteran Mark Durcan as chief executive a day after longtime Chairman and CEO Steve Appleton was killed in a plane crash.
Hungary seeks 15-20 billion euro IMF/EU credit line: official
(Reuters)
Reuters - Hungary is seeking an international credit line of 15 to 20 billion ($20 to $26.3 billion) euros, the secretary of state heading the prime minister's office, Mihaly Varga, was quoted on Saturday as saying.
Markets rally after forecast-busting US jobs data
(AP)
AP - Stocks spiked sharply higher on Friday after forecast-busting U.S. jobs figures reinforced hopes that the recovery in the world's largest economy is gathering pace at a time when other regions, notably Europe, may be heading back into recession.
Unemployment rate hinges on more than job gains
(AP)
AP - For most people, the 8.3 percent unemployment rate is the most visible sign of the economy's health. The rate's every movement is closely watched, especially in an election year.
Aon Q4 profit rises, but margin pressures persist
(Reuters)
Reuters - Aon Corp posted a higher quarterly profit that narrowly beat market estimates, but the world's largest insurance broker continued to face margin pressures in its Aon Hewitt segment for the second-straight quarter.
Clinton: US, Europe must do more against tyrants
(AP)
AP - The Obama administration on Saturday called for stepped up U.S.-European cooperation to isolate tyrannies like the Assad regime in Syria, promote democracy in the Arab World and beyond and repair damage from the global financial crisis.
New York sues banks over electronic mortgage system
(Reuters)
Reuters - New York State Attorney General Eric Schneiderman on Friday sued three major U.S. banks, accusing them of fraud for using an electronic mortgage database that resulted in deceptive and illegal practices.
Report: Monti says Italy a "safe place"
(AP)
AP - Italy is now a "safe place" amid market turbulence, Premier Mario Monti said in an interview published Saturday, pressing for Europe to turn its political energy to generating growth rather than further plans to strengthen budget discipline.
Euro zone sales tumble at Christmas, no sign of growth
(Reuters)
Reuters - Retail sales in the euro zone tumbled unexpectedly in December, the biggest drop in the Christmas period in three years, data showed on Friday, with rising joblessness and stubborn inflation undercut signs of a stabilization in Europe's economy.
Romney focuses on Obama, Gingrich on Romney in NV
(AP)
AP - A confident Mitt Romney accused President Barack Obama of failing to do enough to create jobs as he campaigned Friday ahead of GOP presidential caucuses this weekend in a state with sky-high unemployment and foreclosure rates. Newt Gingrich, who is fighting for a respectable showing here, rolled out a fresh line of criticism by comparing the former Massachusetts governor to Obama.
Blast hits Egypt's gas pipeline to Israel
(Reuters)
Reuters - An explosion hit a gas pipeline running from Egypt to Israel Sunday, witnesses and state television reported.
Palestinians call for PM's fall over taxes
(AP)
AP - Hundreds of Palestinian protesters have called for their prime minister's resignation over recent tax and price increases.
GM says most of its US dealers agree to upgrades
(AP)
AP - General Motors Co. said Saturday that most of its 4,400 U.S. dealers have agreed to upgrade their showrooms over the next four years.