Latest stories
Group Opens up Offshore Bank Account Database Online

A massive database of private offshore banking entities that could be used for tax evasion was posted online for public use Friday by the muckraking group that first reported the files.

The International Consortium of Investigative Journalists said anyone can now search the records of some 100,000 companies, trusts and funds located in leading tax havens to see who could be making use of them to skirt home-country taxes.

W140 Full Story
Euro Fund Chief: Do Without IMF in Long Term

The head of Europe's bailout fund says the region should eventually aim to do without help from the International Monetary Fund.

Klaus Regling's comments in Friday's edition of Germany's daily Frankfurter Allgemeine Zeitung add to recent hints from other European policymakers that the bloc should aim to handle future emergencies on its own.

W140 Full Story
Moody's Puts Bahrain Debt on Watch, Warns on Oil Price

Moody's credit rating agency put debt issued by Bahrain on watch on Friday, warning of a possible downgrade because the country could face strains over its debt given the weak outlook for oil prices.

Bahrain is a Gulf oil-producing country, but Moody's warned that it could be entering a period of making a loss on every barrel of oil produced.

W140 Full Story
Vatican Bank 'Zero' Tolerance' on Suspect Transactions

The Vatican bank is taking a "zero tolerance" approach to suspect transactions, says its new chief executive Ernst von Freyberg, as it fights hard to shatter a culture of silence and shed its murky image.

The 54-year-old German lawyer, who took over at the helm of the Institute for Works of Religion (IOR) in February, said in an interview with Agence France Presse that he is giving it his all to disperse the clouds hanging over the bank.

W140 Full Story
EgyptAir Pilots Strike, Cairo Flights Disrupted

Pilots for national carrier EgyptAir began a sit-in on Thursday to demand better pay and working conditions, disrupting flights out of Cairo, an airport official said.

The strike has caused the cancellation of nine flights with more disruption expected, the official told Agence France Presse.

W140 Full Story
Greece Faces General Strike Amid Fury over State TV Closure

Greek unions plan a 24-hour general strike Thursday, amid a storm of protest over the government's decision to shut down public broadcaster ERT as part of sweeping cost-cutting measures.

The socialist and moderate leftist parties supporting the coalition government called the decision "unacceptable" as Prime Minister Antonis Samaras refused to back down.

W140 Full Story
EU Ministers Face French Hurdle on U.S. Free Trade Talks

EU trade ministers will try Friday to resolve deep differences with France on whether its prized "cultural exception" should be included in free trade talks with a United States which believes there should be no exceptions at all.

Negotiations with Washington already promise to be difficult but France insists that culture and its special status within the EU is a no-go area and has threatened to block agreement rather than accept a carefully worded compromise minimizing possible damage.

W140 Full Story
Airbus Next-Generation Plane Prepares for First Flight

Airbus's new A350 plane is due to take off on its much-anticipated maiden flight Friday, a milestone for an aircraft the firm hopes will help close the gap with rival Boeing in the lucrative long-haul market.

Weather permitting, the next-generation plane will lift off from the southwestern city of Toulouse at 0800GMT with six people on board -- a British and a French test pilot, a flight engineer and three other engineers at the back.

W140 Full Story
Austrian Firm in 1.89bln-Euro Qatar Metro Deal

Austrian construction firm Porr announced on Wednesday it was to sign a 1.89-billion-euro ($2.5-billion) contract to build one of Doha's new metro lines, as part of a consortium with two Qatari partners, SBG and HBK.

This was the second such contract for European firms in three days.

W140 Full Story
British Banks Announce Libor Rate-Setting Reform

The British Bankers' Association on Wednesday announced changes to Libor interest-rate transparency in a bid to avoid a repeat of last year's rate-rigging scandal.

The BBA said publication of banks' individual submissions would be embargoed for three months in a move aimed at avoiding possible "manipulation of the rate".

W140 Full Story