European Business News and Current Events

EU searches for way out of debt crisis (AP)

A man walks past a screen showing falling stocks at the Athens Stock Exchange, in red, in Greece on Monday, Feb. 8, 2010. Stocks traded mixed Monday as investors remained wary about the strength of the economic recovery and mounting debt in Europe. (AP Photo/Petros Giannakouris) AP - Markets somehow expect the European Union to backstop Greece's sagging finances. But with officials denying a bailout is needed, the precise path out of the crisis for the EU's incoming new leadership remains fogged with uncertainty.

FTSE rises 0.16% in midday trade (AFP)

The FTSE 100 rose slightly in midday trade despite lingering debt concerns in Europe and as data showed that China overtook Germany last year to become the world's biggest exporting nation.(AFP/File/Shaun Curry) AFP - The FTSE 100 rose slightly on Tuesday despite lingering debt concerns in Europe and as data showed that China overtook Germany last year to become the world's biggest exporting nation.

Futures lifted by Greece rescue talk (Reuters)

Traders work on the floor of the New York Stock Exchange in this October 30, 2009 file photo. REUTERS/Brendan McDermid Reuters - Stock index futures rose on Tuesday, buoyed by hopes that European Union nations could bail out debt-burdened Greece.

SAS to raise cash, cut 700 jobs after Q4 loss (AP) AP - Scandinavian airline group SAS on Tuesday asked shareholders for a 5 billion kronor ($670 million) cash injection, saying it needs more liquidity to emerge from the economic downturn after reporting a loss in the fourth quarter.

Greece seeks pension, wage reform as strike looms (AP) AP - Greece's government was tackling the thorny issue of pension and wage reform Tuesday, part of its plan to fight a debt crisis that has alarmed global markets, even as strikes were being planned nationwide.

European stocks up cautiously on hopes for Greece (AP)

A man walks past a screen showing falling stocks at the Athens Stock Exchange, in red, in Greece on Monday, Feb. 8, 2010. Stocks traded mixed Monday as investors remained wary about the strength of the economic recovery and mounting debt in Europe. (AP Photo/Petros Giannakouris) AP - European stocks rose cautiously Tuesday on hopes that EU officials will provide Greece with some form of support to handle its mountain of debt and keep the market crisis from spreading to other vulnerable countries.

UK retail sales rise 1.2 pct in January (AP) AP - Britain's struggling economy showed more lackluster indicators Tuesday, with imports rising faster than exports in December despite the falling value of its currency and retailers reporting a slow start to the year.

European stocks climb, London up 0.67% (AFP)

A French trader monitors shares prices at La Banque de France in Paris in 2008. Europe's main stock markets rose for a second day running on Tuesday despite lingering debt concerns and as data showed China overtook Germany last year to become the world's biggest exporting nation.(AFP/File/Mehdi Fedouach) AFP - Europe's main stock markets rose for a second day running on Tuesday despite lingering debt concerns and as data showed China overtook Germany last year to become the world's biggest exporting nation.

German exports down most in 60 years in 2009 (AP) AP - German exports tumbled by nearly one-fifth last year, the biggest fall for 60 years and one that officially knocked the country off its perch as the world's top exporter, government data showed Tuesday.

FTSE stable at start of trade (AFP)

The FTSE 100 rose slightly in midday trade despite lingering debt concerns in Europe and as data showed that China overtook Germany last year to become the world's biggest exporting nation.(AFP/File/Shaun Curry) AFP - Shares in London were steady at the start of trade on Tuesday amid lingering concerns about massive state debts in Europe.

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