Business
FTSE sheds 5.35 percent (AFP)
AFP - The London FTSE 100 index of leading shares fell 5.35 percent Thursday to close at 3,861.39 points as recession clouds deepened over the US economy. Read more…
EU united on finance but cracks appear elsewhere (AFP)
AFP - European Union leaders headed home Thursday from a summit that saw unity on fixing the global financial system but schisms when it came to an ambitious climate pact and repairing ties with Russia. Read more…
EU climate pact under veto threat as financial crisis bites (AFP)
AFP - European Union leaders fought growing pressure on Thursday to roll back their climate change plans, standing by their targets and timetable for the package as the financial crisis bites. Read more…
European stocks sharply lower in late trade (AFP)
AFP - European stock markets fell sharply in late trading Thursday on rising fears of a recession in the United States and Europe. Read more…
Annan: Financial crisis undercuts global food aid (AP)
AP - Wealthy nations are reneging on commitments to help feed the world's hungry and may cite the banking crisis as a reason why they cannot do more, former U.N. Secretary-General Kofi Annan told an international conference on combating starvation Thursday. Read more…
European markets drop after Nikkei slump (AP)
AP - European stock markets were lower Thursday after Japan's Nikkei tumbled more than 11 percent overnight amid mounting anxiety that the world economy is plunging into a deep and protracted recession. Read more…
EU split over climate change plans during meltdown (AP)
AP - European Union leaders were deeply divided Thursday over calls by Poland, Italy and other countries to dilute and delay an ambitious program to fight global warming to take account of the looming economic downturn. Read more…
Indian shares trim losses tracking Europe (Reuters)
Reuters - Indian shares pared losses to less than 2 percent on Thursday afternoon after falling more than 7 percent early, as European markets came off lows and U.S. stock futures that indicated a higher opening on Wall Street. Read more…
EU to take steps to support industry: draft summit conclusions (AFP)
AFP - The European Commission will come up with proposals by the end of the year to help industry cope with slumping economic activity, according to draft conclusions of an EU summit on Thursday. Read more…
Focus shifts to economy slump, EU to offer aid (Reuters)
Reuters - The global financial crisis shifted gears on Thursday with fears of recession battering financial markets even as governments sought yet more action to pull the world economy from the brink of collapse. Read more…