Latest stories
Oil Prices Drop Before U.S. Energy Data

Oil prices fell on Wednesday before the release of government data expected to reveal falling crude supplies in the United States, and as markets awaited steps to avert a Greek debt default.

New York's main contract, light sweet crude for delivery in October, shed $1.04 to $89.17 a barrel.

W140 Full Story
German Coalition Government Squabbles Over Euro Crisis

Chancellor Angela Merkel's center-right coalition is squabbling so much over the eurozone debt crisis that even the opposition is urging her to quash the infighting — raising new questions about whether the government might collapse before its term ends.

A new poll underlined the government's woes, showing support for the main opposition party at its highest in 3 1/2 years and dismal ratings for Merkel's junior coalition partner, the Free Democratic Party.

W140 Full Story
Europe's Biggest Shopping Mall Opens in London

Europe's biggest urban shopping centre opened on Tuesday in a deprived area of east London where it will act as the gateway to the 2012 Olympics.

Westfield Stratford City, which has risen from derelict wasteland in one of the poorest areas in Britain, houses more than 300 shops, 70 restaurants, a 14-screen cinema, three hotels and Britain's largest casino.

W140 Full Story
Merkel Seeks to Calm Market Fears Over Greece

German Chancellor Angela Merkel Tuesday sought to ease fears over a possible Greek bankruptcy, saying the 17-country eurozone had to stick together and that an "uncontrolled insolvency" must be avoided.

"The top priority is to avoid an uncontrolled insolvency, because that would not just affect Greece, and the danger that it hits everyone -- or at least several countries -- is very big," Merkel told German radio station RBB.

W140 Full Story
Inter-Korean Gas Link May Be Pipe Dream

A multi-billion dollar plan to funnel Russian natural gas to South Korea via its North Korean neighbor may be just a pipe dream despite major potential economic and political benefits, experts say.

The long-discussed project would reduce Seoul's huge gas import bill, bring a transit fee windfall to cash-strapped Pyongyang and rake in tens of billions of dollars for Moscow's state-controlled gas company.

W140 Full Story
Bionic Ear Maker Cochlear Recalls Hearing Implants

Bionic ear maker Cochlear has been forced to begin a global recall of the world's thinnest hearing implants after some stopped working.

The Sydney-based company, which dominates the world's bionic ear market, said Monday it was mystified as to why some of its award-winning Nucleus CI500 devices were suddenly shutting down.

W140 Full Story
World Stocks, Euro Plunge on Greek Default, Recession Fears

Global stocks plunged and the euro slumped to a 10-year low against the yen on Monday as talk of a possible Greek default compounded worries that the world is set for another recession, analysts said.

European shares tumbled after Tokyo struck its lowest close in 29 months, as the G7 group of rich nations admitted that current economic problems were so complex that a unified response was impossible.

W140 Full Story
Swatch Ends Partnership with Tiffany, to Seek Damages

The world's biggest watchmaker Swatch said Monday that it has ended its partnership with Tiffany & Co as it accused the U.S. luxury jeweler of blocking the development of the business.

The group added that it would file for damages against the U.S. firm, "in compensation for the loss of planned long-term future business."

W140 Full Story
Suzuki Cuts Ties with Volkswagen

Suzuki Motor Corp. said Monday it will abort its alliance with Volkswagen AG, ending a nearly two-year marriage that never worked and eventually escalated into a public feud.

Suzuki's board of directors decided to dissolve its partnership and cross-shareholding relationship with the German automaker because of concerns that it would lose autonomy, it said in a statement. Volkswagen owns a nearly 20 percent stake in Suzuki, while Suzuki holds about 1.5 percent of Volkswagen.

W140 Full Story
Compact Cars in Focus at Frankfurt Auto Show

Germany's highly profitable auto makers are rolling out important new vehicles in the ferociously competitive small car market at this year's Frankfurt auto show.

The Volkswagen Up subcompact, Mercedes-Benz's streamlined B-Class hatchback and BMW's electric-powered i3, aimed at crowded cities with its zero-emission motor and lightweight, carbon-fiber reinforced body, are all major bets on what will appeal to buyers — and help earnings through an uncertain year ahead in which global demand may slow.

W140 Full Story