Month: May 2011

May 10, 2011

Shares fall on fears Greece needs new bail-out

European stock markets have fallen on continuing concerns that Greece may require a new financial bail-out deal. The falls follow comments on Friday by Jean Claude-Juncker, chairman of the eurozone finance ministers, that Greece may need a…

May 10, 2011

Oil price bounces after record fall

Crude oil prices have recovered after last Thursday's commodity market rout. Brent crude futures rose 6.5% on Monday to over $116 a barrel, still well below their recent peak of more than $126. The relief rally comes after a week-long 17% decline in…

May 10, 2011

US tells China to look to its own consumers

US Treasury Secretary Tim Geithner has called on China to rely more on its own spending and less on exports. "The challenge is to lay the foundation for a new growth model, driven more by domestic demand," he advised his Chinese counterparts. His…

May 10, 2011

Libya: Misrata rebels ‘push back troops’

Rebels in the Libyan city of Misrata say they have pushed government troops back from its…

May 10, 2011

Memphis flooding: Thousands of homes evacuated

The southern US city of Memphis is coping with flood levels not seen since the 1930s, which have forced people from at least 1,300 homes. The Mississippi River was expected to crest at 48ft (14.6m) late on Monday or early on Tuesday in the…

May 10, 2011

IMF: N. Zealand Quakes More Costly Than Japan’s Disasters

The International Monetary Fund says earthquakes that struck New Zealand in September and February are likely to hurt that country's economy more than the recent disasters in Japan will affect Tokyo's economy. The IMF estimated that rebuilding…

May 10, 2011

11 Afghans, 2 NATO Soldiers Killed in Afghanistan

Insurgent attacks on Afghan security forces and civilians in the east killed at least 11 people Monday. Afghan officials say that in the first incident in Ghazni province, militants killed at least four officers, while authorities in Khost…

May 10, 2011

France Returns Maori Head to New Zealand

France is returning to New Zealand the shrunken tattooed head of a Maori warrior, which has been kept in a French museum for more than a century. The head is a relic of the ancient practice of mummification of Maoris killed in battle. It was…

May 9, 2011

Mavericks sweep Lakers with blowout

                            Phil Jackson walked off the court with a tight…

May 9, 2011

Hawks knock off Bulls to even series

The Atlanta Hawks finally won a second-round playoff game at home. They can thank a guy who frequently gets booed by the home fans, and a young guard who wasn't supposed to be playing much at all. Josh Smith answered his critics with a huge game —…