Euro-Zone Data Add to Signs of Slump
Manufacturing in the euro zone contracted in October at its steepest rate since July 2009, adding to signs that growth in the region is grinding to a halt.
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G-20 Scrambles to Contain Euro-Zone Crisis
G-20 leaders scrambled to arrange emergency measures aimed at preventing the sovereign-debt crisis from contaminating the rest of Europe and the global economy.
ECB Cuts Key Rate
The European Central Bank cut interest rates, taking a decisive step against rapidly growing risks to the euro zone’s economic outlook and financial stability.
One Killed in Red Sea Ferry Blaze
A Jordanian man died while 1,246 other passengers and crew members were rescued following a fire aboard their ferry that was sailing on the Red Sea en route to Egypt’s port of Nuweiba.
Greece’s Government On the Brink
George Papandreou said through a spokesman that he was open to talks with a leading opposition party to push through reforms required for financial aid, amid speculation he will have to resign.
Argentina To Overhaul Subsidy Regime
Argentina’s said it will overhaul the costly energy and transportation subsidies that have become a growing burden on public finances, signaling an end to a key pillar of President Cristina Kirchner’s economic program
U.S. Firms Pose Hurdle for Yuan
China’s effort to make the yuan a global reserve currency has hit a snag: While American companies have poured into China, they have been slow to make use of the yuan.
Afghanistan, Regional Powers Discuss Next Steps
Afghanistan’s neighbors and regional powers agreed to a “road map” of confidence-building measures, from building road and rail connections to cooperating on border controls, aimed at strengthening the war-torn nation as U.S. forces withdraw.
Turkey’s Moves Expected to Hurt Bank Profits
Turkey’s tightly regulated banks are expected to show a change of fortunes as a monetary policy focused on curbing bank lending, coupled with falling consumer demand, erodes margins.
Syria Agrees to Withdrawal
Syria’s government accepted a regionally brokered plan to resolve the country’s deadly conflict and begin talks with the opposition, offering the first potential endgame to Syria’s worsening crisis.
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