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- Iran may seek "tactical gain" with U.N. nuclear deal
VIENNA (Reuters) - Iran and the U.N. nuclear watchdog are making headway towards a framework deal on how to tackle concerns about its atomic activity, diplomats say, a potential bargaining chip for Tehran in next week's negotiations with world powers.Related StoriesSpain beset by bank crisis, downgrades, bond pressureEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paper
- Euro zone market turmoil to last 12-24 months - Schaeuble
PARIS (Reuters) - Market turmoil over the euro zone crisis could last another 12 to 24 months, German Finance Minister Wolfgang Schaeuble said on Friday, saying it was up to the Greeks to decide if they wanted to stay in the single currency.Related StoriesSpain beset by bank crisis, downgrades, bond pressurePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- EU, ECB working on Greece exit contingency - paper
BRUSSELS (Reuters) - The European Commission and the European Central Bank are working on an emergency scenario in case Greece has to leave the euro zone, EU trade commissioner Karel De Gucht said in an interview published on Friday.Related StoriesSpain beset by bank crisis, downgrades, bond pressureEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewIran may seek "tactical gain" with U.N. nuclear deal
- Cameron urges G8 action to stop euro zone crisis from spreading
WASHINGTON (Reuters) - British Prime Minister David Cameron will tell leaders of some of the world's biggest economies on Friday that they must work together to stop the economic crisis afflicting the euro zone from spreading worldwide.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- BoE's Posen says may have to revise QE view
LONDON (Reuters) - Bank of England policymaker Adam Posen said in interview on Friday he may have been premature in dropping his call for additional stimulus last month, because the underlying economy may be weaker than he thought earlier this year.Related StoriesSpain beset by bank crisis, downgrades, bond pressureEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Poll shows Greece electing pro-bailout government
ATHENS (Reuters) - Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro.Related StoriesSpain beset by bank crisis, downgrades, bond pressureEuro zone market turmoil to last 12-24 months - SchaeubleBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Spain beset by bank crisis, downgrades, bond pressure
MADRID (Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalised Bankia diving and 16 lenders - including the euro zone's biggest - having their credit ratings cut.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Former editor says Murdoch sowed seeds of hacking scandal
LONDON (Reuters) - Rupert Murdoch sowed the seeds of the phone hacking scandal that has tarnished his reputation by forcing Britain's most respected newspapers into "a Faustian bargain" with the powerful, a former editor of the Times newspaper said on Thursday.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Myanmar's central bank aims for weaker currency
NAYPYITAW, Myanmar (Reuters) - Myanmar's central bank wants to weaken its newly floated currency and prevent further rises that could derail reforms to its economy, a deputy central bank governor said.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Investors brace for Facebook debut on Wall Street
(Reuters) - Investors are bracing for Facebook's Wall Street debut on Friday after the world's No.1 online social network raised about $16 billion (10 billion pounds) in one of the biggest initial public offerings in U.S. history.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Facebook prices at top of range in landmark IPO
NEW YORK/SAN FRANCISCO (Reuters) - Facebook Inc priced its initial public offering at the top of its target range to raise more than $16 billion (10.13 billion pounds), as strong demand, particularly from retail investors, fuels anticipation of a big pop in the stock when it begins trading Friday on the Nasdaq.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- UK taxpayer may lose 2 billion pounds on Northern Rock rescue - NAO
LONDON (Reuters) - UK taxpayers could lose up to 2 billion pounds from the government's 2008 rescue of mortgage lender Northern Rock by the time all the assets are wound down, according to the country's spending watchdog.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Syria opposition head says to quit for sake of unity
AMMAN (Reuters) - The head of Syria's top opposition body said on Thursday he was ready to step down for the sake of unity among dissidents -exiled and in Syria - whose divisions have kept them from their goal of recognition as successors to President Bashar al-Assad.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Spain beset by bank crisis, downgrades, bond pressure
MADRID (Reuters) - Spain's borrowing costs shot up at a bond auction on Thursday and its troubled banks suffered a double blow, with shares in part-nationalised Bankia diving and 16 lenders - including the euro zone's biggest - having their credit ratings cut.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Horrors of Srebrenica set out at Mladic trial
THE HAGUE (Reuters) - Prosecutors in the genocide trial of Serb general Ratko Mladic on Thursday described five days of terror in the Bosnian enclave of Srebrenica in July 1995, when troops under his command massacred more than 7,000 unarmed Muslim boys and men.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Poll shows Greece electing pro-bailout government
ATHENS (Reuters) - Greek voters are returning to the establishment parties that negotiated its bailout, a poll showed on Thursday, offering potential salvation for European leaders who say a snap Greek election next month will decide whether it must quit the euro.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- EU's Rehn says keeping reforms on track crucial
BRUSSELS (Reuters) - Olli Rehn, the European Commission's top economics official, urged euro zone countries on Thursday not to ease up on efforts to tackle their budget deficits, saying sound finances were key to securing long term growth.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- HSBC says turnaround plan on target, costs cut by $2 billion
HONG KONG (Reuters) - HSBC, Europe's biggest bank, said it cut costs by $2 billion (1 billion pounds) after one year of a 3-year turnaround plan, and is on target to meet its return on equity and other financial targets.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- BoE's Fisher sees no more QE if recession mild
LONDON (Reuters) - The Bank of England should only do further quantitative easing asset purchases if the economy seems to be slipping into a deep recession, which does not appear to be the case, Bank policymaker Paul Fisher said in an interview published on Thursday.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Cameron tells Europe to quell the turmoil
MANCHESTER, England (Reuters) - Prime Minister David Cameron urged Europe's rulers on Thursday to do more to quell the euro zone debt crisis and raised the prospect of a Greek default to argue he must stick to his unpopular attempt to cut spending and reduce debt at home.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Asda's sales growth accelerates
LONDON (Reuters) - Asda, the British arm of U.S. retailer Wal-Mart, said sales growth accelerated in its first quarter and it won market share as a focus on low prices and a revamped own-brand range appealed to cash-strapped shoppers.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Analysis - Facebook can't take Asian growth for granted
SINGAPORE (Reuters) - Even as Facebook fever grips investors ahead of the social networking giant's potential $100 billion-plus initial public offering, its breakneck growth in Asia may be slowing as it moves beyond desktop users to those who access the Internet largely or solely from a mobile phone.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Analysis - Greeks not alone in bank savings exodus
LONDON/ATHENS (Reuters) - Greek savers may be gripped by a "great fear that could develop into panic" in the words of President Karolos Papoulias, but many Greeks shifted their money to safer havens in Britain, Switzerland, Germany and Nordic countries long ago.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- France says won't ratify unchanged euro pact
PARIS (Reuters) - France will not ratify the European pact on fiscal discipline unless it is amended to include ambitious commitments to promote economic growth, the country's new finance minister, Pierre Moscovici, said on Thursday.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
- Insurer Aviva to sell some businesses in overhaul
LONDON (Reuters) - British insurer Aviva will sell underperforming businesses in a strategic overhaul after irate investors forced out its chief executive last week, it said on Thursday.Related StoriesEuro zone market turmoil to last 12-24 months - SchaeublePoll shows Greece electing pro-bailout governmentBoE's Posen says may have to revise QE viewEU, ECB working on Greece exit contingency - paperIran may seek "tactical gain" with U.N. nuclear deal
