No German money for Greek ‘bottomless pit’

BERLIN - Germany will not “pour money into a bottomless pit” and patience with Greece is growing thin ahead of a new election in the Mediterranean country, a conservative member of Chancellor Angela Merkel’s cabinet was quoted on Saturday as saying.

Europe’s slump deepens

Europe’s slump deepens

The shadows over the global economy darkened this month as the eurozone’s private sector contracted, US manufacturing growth slowed and China’s once-booming factories faltered, surveys showed on Thursday.

Dow wins $2.16 billion
in Kuwait arbitration

NEW YORK - Kuwait’s state-run chemical company must pay Dow Chemical Co $2.16 billion under an arbitrator’s ruling for wrongly cancelling a planned plastics joint venture in 2008, Dow said on Thursday.

EU takes Argentina trade fight to WTO

The European Union launched a challenge at the World Trade Organization on Friday against Argentinian import restrictions after Buenos Aires seized Spanish oil assets.

Gold rises on firmer euro, but set for weekly fall

Gold prices rose back above $1,560 an ounce in Europe on Friday, snapping four sessions of losses, as the euro recovered from two-year lows against the dollar, though worries over the outlook for the euro zone kept investors on edge.

World stocks up tepidly as traders brush off woes

Asian stocks struggled for firm footing on Friday as investor nerves were tested by fizzling economic growth in China, but European markets headed higher as traders kept fingers crossed that Greece would avoid financial chaos.

Toyota looks to growth in emerging markets

Toyota is looking to emerging markets for growth, targeting 50 percent of its global vehicle sales there by 2015, and rolling out eight compact models over the next few years.

Rupee slides past 56 to record low

Indian rupee fell past 56 per dollar to a record low as investors favoured the perceived safety of the greenback over emerging-market assets on concern Greece will leave Europe’s currency union.

US unemployment claims edge down

New claims for US unemployment benefits fell last week in a fresh sign that the ailing job market is slowly recovering, official data showed on Thursday.