May 17, 2012
Spain borrowing costs set to rise amid Greece fears
Spain's borrowing costs look set to spike on Thursday when the country's treasury sells up to 2.5bn euros (£2bn; $3.2bn) of three- and four-year sovereign bonds. It could pay buyers about 5% on the longest bond - up from just over 4% at its last…
May 17, 2012
Bank governor warns of eurozone crisis ‘storm’
The Bank of England has cut its growth forecast for this year to 0.8% from 1.2%, saying the eurozone "storm" is still the main threat to UK recovery. The eurozone was "tearing itself apart" and the UK would not be "unscathed", said its governor…
May 17, 2012
Japan’s economy grows 1.0% on rebuilding spending
Japan's economy grew 1.0% between January and March compared with the previous three months, as government spending helped fuel a gradual recovery from last year's earthquake and tsunami. That translates to annualised growth of 4.1%, the Cabinet…
May 17, 2012
Greeks withdraw money from banks as worries grow
Greeks withdrew 700m euros ($894m; £560m) from the country's banks in the week ending on Monday, according to the Greek president. The action comes as fears increase that the country may be forced out of the eurozone and on to a weaker currency.…
May 17, 2012
Toshiba stops domestic LCD TV production
Toshiba has halted production of LCD televisions in Japan due to falling demand, a spokesman has told the the BBC. The producer of Regza brand TV sets said it had stopped operations at its only domestic manufacturing plant in Fukaya, Saitama…
May 17, 2012
Robert F Kennedy Jr’s estranged wife Mary dead
Robert F Kennedy Jr's estranged wife has been found dead at her home in New York state. No cause of death had been released, but US media reported the 52-year-old had been discovered hanged. In a statement, the family of the 52-year-old said her…
May 17, 2012
Diamond Jubilee: Spain’s Queen Sofia cancels UK visit
Queen Sofia of Spain has cancelled a visit to the UK to mark Queen Elizabeth's Diamond Jubilee because of disputes over Gibraltar. A Spanish government statement said it was "hardly appropriate" for Queen Sofia, 73, to attend a lunch on Friday.…
May 17, 2012
Mladic trial: Prosecution to focus on Srebrenica massacre
A war crimes trial of former Bosnian Serb army commander Ratko Mladic is to resume, with the prosecution focusing on the Srebrenica massacre in 1995. Gen Mladic is accused of orchestrating the killings of more than 7,000 Bosnian Muslim boys and…
May 17, 2012
US Senate Rejects 5 Different Budget Plans
As expected, the U.S. Senate Wednesday rejected five separate budget plans for 2013, including one that mirrors a budget blueprint offered by President Barack Obama. The lawmakers unanimously turned down the plan submitted by Republicans and…
May 17, 2012
Greece Appoints Caretaker PM, Sets Date for New Elections
Greece has sworn in a senior judge as the country's new caretaker prime minister. Council of State head Panagiotis Pikrammenos was appointed Wednesday after major political parties failed to form a coalition government following several attempts…