Europe News Headlines

The price of Brent crude oil surged to a nine-month high on Thursday, propelled by intensifying Iran concerns amid reports that Japan wanted to slash its Iranian crude imports, traders said.

BERLIN/PARIS (Reuters) - German Finance Minister Wolfgang Schaeuble is in for a torrid weekend in Mexico City. Chancellor Angela Merkel is so concerned to get a second bailout for Greece approved by her parliamentary majority next Monday that she has hardened Berlin's stance against any increase in the euro zone's financial …

BRUSSELS - A European Union committee failed Thursday to reach a definite decision on labeling oil derived from oil sands as worse for climate change than crude oil — a proposal vigorously opposed by officials in Canada, where such oil is produced.

LONDON - World leaders pledged new help to Somalia to tackle terrorism and piracy, but insisted Thursday that the troubled east African nation must quickly install a permanent government and threatened penalties against those who hamper political progress.

TORONTO (Reuters) - The Group of 20 wealthy and emerging nations is not close to an agreement on increasing the resources of the International Monetary Fund to help it cope with Europe's debt crisis, a senior Canadian finance official said on Thursday. The official repeated Canada's position that Europe must increase funding …

NEW YORK (Reuters) - New U.S. claims for unemployment benefits were unchanged last week, holding at the lowest level since the early days of the 2007-2009 recession and giving a fresh sign the battered labor market is healing. COMMENTS: PHIL ORLANDO, CHIEF EQUITY MARKET STRATEGIST, AT FEDERATED INVESTORS, IN NEW YORK "Claims …

WASHINGTON (Reuters) - New claims for unemployment benefits were unchanged last week, holding at the lowest level since the early days of the 2007-2009 recession and giving a fresh sign the battered labor market is healing. Workers filed 351,000 initial claims for state unemployment benefits, the Labor Department said on …

TORONTO - The Toronto stock market was lower amid a mixed bag of earnings reports and positive economic data.

ATHENS (Reuters) - Greece's parliament endorsed a debt swap with private bondholders on Thursday that forms the core of its 130-billion-euro bailout, despite new protests against tough budget cuts demanded in return for the rescue deal. The swap, in which private investors exchange their bonds for lower-value debt, will …

JOHANNESBURG (Reuters) - South Africa's Steinhoff International could raise at least $2 billion when it eventually floats its European unit, the furniture maker's head of investor relations said on Thursday. Steinhoff, Africa's top furniture maker and one of Europe's biggest furniture retailers, could list the European …

LONDON/PARIS (Reuters) - Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would continue to threaten earnings. From France to Germany, Britain to Belgium, some of the region's biggest banks lined up to reveal billions of euros lost …

International powers called Thursday for urgent action on Somalia, warning at a meeting in London that the world will "pay the price" for failing to tackle political unrest, Islamist militants and pirates.

International powers called Thursday for urgent action on Somalia, warning at a meeting in London that the world will "pay the price" for failing to tackle political unrest, Islamist militants and pirates.

WARSAW, Poland - Calgary-based Talisman Energy Inc. (TSX:TLM) is assessing the commercial potential of a shale gas deposit it has found in northeastern Poland, according to a spokeswoman.

MISSISSAUGUA, Ont. - Big-screen movie technology firm Imax Corp. (TSX:IMX) said Thursday its 2011 results came in under expectations but a "positive" final quarter indicates that rapid expansion of its global network of theatre installations positions it for growth this year.

ATHENS, Greece - Greek lawmakers on Thursday debated emergency legislation to approve a massive bond swap that would wipe €107 billion ($142 billion) off the country's privately-held debt, as new projections showed the economy will suffer the worst contraction in Europe this year.

(Reuters) - Imax Corp reported a quarterly profit in line with analysts' expectations, as solid box-office receipts led by the latest Mission: Impossible title offset a fall in systems revenue because of fewer new theatre installations and digital upgrades. The Tom Cruise spy film Mission Impossible - Ghost Protocol had …

British American Tobacco, the world's second-biggest maker of cigarettes, announced rising annual profits on Thursday as expansion into emerging markets improved the group's revenue.

TORONTO - The Canadian dollar was higher Thursday morning as geopolitical concerns pushed oil prices higher and appetite for riskier currencies such as the loonie was supported by positive economic data, eroding demand for the safety of the American dollar.

BRUSSELS (Reuters) - The European Commission wants euro zone leaders to agree to a bigger rescue fund to nudge the IMF into backing debt-stricken European economies, despite German resistance to boosting it, the EU's top economic official said on Thursday. Investors and many EU officials want euro zone leaders to agree …

WASHINGTON (Reuters) - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before. Despite stronger employment data and hints of firmer inflation, Federal Reserve policymakers are not ruling out another round of monetary easing in …

The light scattered off distant worlds could help reveal details about their atmospheres that no other method could uncover, scientists find.

AMSTERDAM (Reuters) - U.S. cable group Liberty Global is considering a bid for Dutch cable firm Ziggo, estimated to be worth 8 billion euros ($10.6 billion) and which is planning a stock listing, Dutch daily De Telegraaf reported on Thursday without citing sources. Liberty Global, which owns Dutch cable firm UPC and is …