Japanese auto giants Toyota and Mitsubishi Motor have said they will resume production in Thailand after the country's flood disaster closed factories for more than a month.
Toyota said it would resume production from November 21 at its three Thai plants, which were forced to halt operations on October 10.Full Story
Greece's bickering politicians were to resume talks Thursday on a unity government to take the crisis-hit country out of economic paralysis as global pressure for a deal mounted to avert bankruptcy.
Greek President Carolos Papoulias has called a meeting of party chiefs for 0800 GMT with reports indicating that former European Central Bank vice-president Lucas Papademos would be given the reins of government.Full Story
Air France-KLM announced Wednesday it would not be able to meet its targets and expects to post a loss this year, with the turbulent market forcing it to plan further cost-cutting measures.
The difficult economic climate is being exacerbated by volatile currency movements and high fuel prices.Full Story
Global bank HSBC said Wednesday its third-quarter net profit soared on a large accounting gain but underlying earnings sank as the group warned of "significant headwinds" for the sector.
Profits after taxation rallied 66 percent to $5.22 billion (3.79 billion euros) in the three months to September, reflecting a revaluation of its debt, compared with net profit of $3.15 billion in the same period 2010.Full Story
European stocks closed sharply lower Wednesday as any early optimism that the resignation of Italian Prime Minister Silvio Berlusconi would calm the markets disappeared in a wave of near panic.
Dealers said investors first thought Berlusconi's decision would clear the decks but as it became clearer that Italy faces possibly months of political uncertainty, they decided on safety first and put their money elsewhere.Full Story
Greece's outgoing Prime Minister George Papandreou said Wednesday that an agreement had been reached with the opposition on the creation of an interim government that will secure the country's new debt deal.
Speaking in a live televised evening address before a meeting with Greece's president, where he was expected to formally resign, Papandreou wished the next prime minister well — but gave no indication of who it would be.Full Story
Central Bank Governor Riyad Salameh said on Wednesday that Lebanon’s economy was affected by the turmoil in neighboring Syria.
“The Lebanese banking sector has 6 banks in Syria and they’re affected because of the deteriorating … amount of transactions there,” Salameh said in an interview with Russia Today news television channel.Full Story
Anti-Wall Street protesters have a new way to pass the time: an "Occupy" coloring book complete with songs and a visit from Robin Hood.
The "grown-up coloring book novel" was released last week by Really Big Coloring Books, a Missouri-based publisher that recently made headlines with a controversial coloring book about the September 11, 2001 attacks.Full Story
Canada's plan to balance its budget will be delayed by a year to fiscal 2015-2016 due to slow global economic growth, the finance department announced Tuesday following a dismal jobs report.
The government of the G7 country had pledged during an election campaign in May to return to a budgetary surplus by fiscal 2014-2015, but is now aiming for a small surplus of $0.6 billion the following year, said an economic update.Full Story
The EU is readying a freeze on European Investment Bank credits to Syria as it mulls further sanctions on President Bashar al-Assad's regime after months of bloodshed, diplomats said Tuesday.
A diplomatic source said the EIB would suspend new credits and freeze disbursement of outstanding credits while also stopping all technical assistance, such as audits and feasibility studies.Full Story