Oil prices extended losses and fell below $85 a barrel Monday as a dismal U.S. jobs report suggested demand for crude in the world's largest economy will drop.
By early afternoon in Europe, benchmark oil for October delivery was down $1.60 to $84.85 in electronic trading on the New York Mercantile Exchange. Crude fell $2.48 to settle at $86.45 on Friday.Full Story
pain's ruling Socialists' candidate for prime minister in November elections said Monday that if he wins he will raise taxes on wealthy people and banks and use the extra revenue to create jobs, especially for young people.
Alfredo Perez Rubalcaba, interior minister until a few months ago and the party' most veteran and prominent member, gave no details in a radio interview but estimated the tax hikes would bring in €2.5 billion ($3.6 billion).Full Story
The incoming chief of the European Central Bank says the eurozone countries need a "quantum" leap toward economic integration.
Mario Draghi told a conference in Paris on Monday that there are problems with the common currency, including a lack of coordinated fiscal policies.Full Story
The head of Taiwan's top technical institute says economic downturns in the West and Japan provide the island an opportunity to lure talent from abroad to develop its high-tech sector.
Industrial Technology Research Institute Chairman Tsay Ching-yen says his institute will try to recruit recent graduates and experienced tech company workers to come to Taiwan.Full Story
For British director Steve McQueen, there was no better place than Manhattan to film "Shame," his new film that portrays the life of a 30-something sex addict, played by Michael Fassbender in often graphic detail.
"Excess and access. New York is the place," McQueen said Sunday ahead of his second film's world premiere in competition at the Venice Film Festival.Full Story
Al Pacino's movie "Wilde Salome" is a complicated examination of Oscar Wilde's once-forbidden play about illicit love and revenge.
But his inspiration was simple: Jessica Chastain.Full Story
The Black Widow of eating contests has scarfed down 183 chicken wings in 12 minutes to break her own world record set last year in Buffalo, New York.
Sonya Thomas took home first place Sunday at the 10th annual National Buffalo Wings Festival. She beat eating marvel Joey "Jaws" Chestnut, who came in second with 174 wings.Full Story
Rescuers and search parties scoured central Japan on Monday as the death toll from the worst typhoon to hit the country in seven years climbed to 26, adding more misery to a nation still reeling from its catastrophic tsunami six months ago.
Typhoon Talas, which was later downgraded to a tropical storm, lashed coastal areas with destructive winds and record-setting rains over the weekend before moving offshore into the Sea of Japan. In addition to the 26 dead and 52 missing, thousands were stranded as the typhoon washed out bridges, railways and roads.Full Story
Roger Federer reached the fourth round at a 30th consecutive a Grand Slam tournament by beating 27th-seeded Marin Cilic of Croatia 6-3, 4-6, 6-4, 6-2 on a blustery Saturday at the U.S. Open.
The third-seeded Federer improved his career record at Flushing Meadows to 59-6, including five championships.Full Story
If anyone still harbored any doubts about whether Serena Williams is back at her best, she put on a pretty persuasive performance during the first 17 minutes of her third-round match Saturday at the U.S. Open.
That's how long Williams needed to build a 5-0 lead en route to a 6-1, 7-6 (5) victory at Flushing Meadows over one of the best players the women's field had to offer: fourth-seeded Victoria Azarenka, a Wimbledon semifinalist two months ago.Full Story