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EU Trade commissioner Peter Mandelson gives a ...

(AFP) — Sat, 05 Jul 2008 23:51:00 GMT

(AFP) - EU Trade commissioner Peter Mandelson gives a speech in june 2008. Mandelson hit out again Sunday in his battle with French President Nicolas Sarkozy over world trade talks by attacking 'populist and self-serving' rhetoric on the issue. Photo:Alexey Sazonov/AFP

Argentine President Cristina Fernandez de Kirchner(L) ...

(AFP) — Sat, 05 Jul 2008 22:53:00 GMT

(AFP) - Argentine President Cristina Fernandez de Kirchner(L) talks with students in Buenos Aires on July 4, 2008. A controversial grain tax bill cleared the Chamber of Deputies Saturday by a 129-122 vote, giving a first-round win to Kirchner in her struggle to defuse a months-long farmers' strike. Photo:Juan Mabromata/AFP

French president Nicolas Sarkozy delivers a speech ...

(AFP) — Sat, 05 Jul 2008 22:47:00 GMT

(AFP) - French president Nicolas Sarkozy delivers a speech during a meeting of French ruling with-wing party Union for a Popular Movement (UMP) in Paris. Sarkozy on Saturday questioned the European Central Bank's decision to hike interest rates by a quarter point to 4.25 percent, asking at a ruling party meeting whether it was 'reasonable.' Photo:Martin Bureau/AFP

Ferrari cars are pictured in Paris. Sports car ...

(AFP) — Sat, 05 Jul 2008 19:46:00 GMT

(AFP) - Ferrari cars are pictured in Paris. Sports car manufacturer Ferrari intends to cut its vehicles' greenhouse gas emissions by nearly half and is working on developing hybrid vehicles, the company president said Saturday. Photo:Martin Bureau/AFP

Russian tycoon Roman Abramovich, seen here in ...

(AFP) — Sat, 05 Jul 2008 18:55:00 GMT

(AFP) - Russian tycoon Roman Abramovich, seen here in 2007, paid billions of dollars for political favours and in protection fees to build up his fortune, British newspaper The Times said Saturday, citing court papers. Photo:Carl de Souza/AFP

People walk past an entrance to main office of ...

(AFP) — Sat, 05 Jul 2008 16:54:00 GMT

(AFP) - People walk past an entrance to main office of state run company Naftogaz of Ukraine in downtown Kiev, in January 2008. The head of Ukrainian state energy company Naftogaz on Saturday proposed jointly developing the Ukrainian part of the Black Sea with Russia's Gazprom in return for access to Russian gas fields. Photo:Genia Savilov/AFP

A cab driver fills up his taxi at a petrol station ...

(AFP) — Sat, 05 Jul 2008 16:01:00 GMT

(AFP) - A cab driver fills up his taxi at a petrol station in Baghdad on July 2. International Energy Agency chief Nobuo Tanaka has predicted that world oil markets will remain tight until 2013, according to an interview with the German economic daily Handelsblatt. Photo:Sabah Arar/AFP

South Korean protesters attend a rally against ...

(AFP) — Sat, 05 Jul 2008 14:25:00 GMT

(AFP) - South Korean protesters attend a rally against the government's policy on US beef imports in Seoul. Tens of thousands of South Koreans marched through the streets of Seoul demanding the scrapping of US beef imports and the resignation of President Lee Myung-Bak, witnesses said. Photo:Kim Jae-Hwan/AFP

Buddhist monks pray as part of protests against ...

(AFP) — Sat, 05 Jul 2008 14:25:00 GMT

(AFP) - Buddhist monks pray as part of protests against the government's policy on US beef imports in Seoul, July 4. Tens of thousands of South Koreans have marched through the streets of Seoul demanding the scrapping of US beef imports and the resignation of President Lee Myung-Bak, witnesses said. Photo:Kim Jae-Hwan/AFP

A Filipino boy examines rice products at a market ...

(AFP) — Sat, 05 Jul 2008 13:29:00 GMT

(AFP) - A Filipino boy examines rice products at a market in Manila. German Chancellor Angela Merkel has told the said the Tagesspiegel am Sonntag that the G8 nations will take measures to fight the soaring price of food. Photo:Jes Aznar/AFP

South Korean religious groups worship as part ...

(AFP) — Sat, 05 Jul 2008 11:53:00 GMT

(AFP) - South Korean religious groups worship as part of protests against the government's policy on US beef imports in Seoul, July 3. Tens of thousands of South Koreans have called for the scrapping of US beef imports and the resignation of President Lee Myung-Bak in the latest of a series of mass protests in Seoul. Photo:Kim Jae-Hwan/AFP

A pressure valve is seen on a gas pipeline near ...

(AFP) — Sat, 05 Jul 2008 10:51:00 GMT

(AFP) - A pressure valve is seen on a gas pipeline near Kiev. The former head of the International Energy Agency Claude Madlil has told EU ministers that the European Union should free itself from its dependence on Russian gas by developing renewable and nuclear energy. Photo:Sergei Supinsky/AFP

Former head of the International Energy Agency, ...

(AFP) — Sat, 05 Jul 2008 10:51:00 GMT

(AFP) - Former head of the International Energy Agency, Claude Mandil has told EU ministers that the European Union should free itself from its dependence on Russian gas by developing renewable and nuclear energy. Photo:Dominique Faget/AFP

File photo shows an Iranian vendor weighing a ...

(AFP) — Sat, 05 Jul 2008 07:04:00 GMT

(AFP) - File photo shows an Iranian vendor weighing a bag of potatoes on his cart in in Tehran. Iran's inflation rate, which has provoked intense criticism of the government, topped 26 percent in June, according to a central bank statement published in the press on Saturday. Photo:Atta Kenare/AFP

A man walks by an electronic stock board in Tokyo as Japan's ...

(The Canadian Press) — Fri, 04 Jul 2008 22:28:00 GMT

(The Canadian Press) - A man walks by an electronic stock board in Tokyo as Japan's key stock index extended its sell-off to a 12th straight session, its longest slide in 54 years. THE ASSOCIATED PRESS/Katsumi Kasahara

The French bank Societe Generale's building in ...

(AFP) — Fri, 04 Jul 2008 20:00:00 GMT

(AFP) - The French bank Societe Generale's building in New York. France's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank. Photo:Gabriel Bouys/AFP

The Societe Generale office building in Paris. ...

(AFP) — Fri, 04 Jul 2008 20:00:00 GMT

(AFP) - The Societe Generale office building in Paris. France's banking regulator Friday fined Societe Generale four million euros (6.3 million dollars) over 'grave deficiencies' in its internal controls that enabled a massive rogue trade scandal at the bank. Photo:Eric Piermont/AFP

The US investment bank Goldman Sachs has lowered ...

(AFP) — Fri, 04 Jul 2008 18:54:00 GMT

(AFP) - The US investment bank Goldman Sachs has lowered its 2008-2010 forecasts for more than 40 European banks, warning Friday that some of them may have to raise between 60 and 90 billion euros to shore up finances in the face of a nearly year-long credit crisis. Photo:Aamir Qureshi/AFP

A view of a branch of a TD Canada Trust bank in Toronto November ...

(Reuters) — Fri, 04 Jul 2008 18:48:00 GMT

(Reuters) - A view of a branch of a TD Canada Trust bank in Toronto November 9, 2007. REUTERS/Mark Blinch

BHP Billiton's Mount Newman iron ore mine in ...

(AFP) — Fri, 04 Jul 2008 18:05:00 GMT

(AFP) - BHP Billiton's Mount Newman iron ore mine in Western Australia in 2007. The European Commission on Friday opened an in-depth antitrust probe into mining giant BHP's hostile takeover of rival Rio Tinto over 'serious doubts' the deal could stifle competition amid soaring commodities prices. Photo:/AFP

A woman holds euro and US dollar banknotes. The ...

(AFP) — Fri, 04 Jul 2008 17:59:00 GMT

(AFP) - A woman holds euro and US dollar banknotes. The dollar was stable against the euro here Friday, with the single currency hurt by a weak reading on German industrial orders. Photo:Bertrand Langlois/AFP

A stock trader observes the developments in the ...

(AFP) — Fri, 04 Jul 2008 17:57:00 GMT

(AFP) - A stock trader observes the developments in the stock market in Frankfurt, March 2008. European stock exchanges suffered sharp falls Friday on fresh fears for the health of the banking sector sparked by a report from Goldman Sachs. Photo:Thomas Lohnes/AFP

'Shocked.' ...

(CBC) — Fri, 04 Jul 2008 17:49:15 GMT

(CBC) - 'Shocked.'

New Ford trucks are on display for sale at a car lot in Carlsbad ...

(Reuters) — Fri, 04 Jul 2008 16:46:00 GMT

(Reuters) - New Ford trucks are on display for sale at a car lot in Carlsbad California January 14, 2008. REUTERS/Mike Blake

Pedestrians walk past the Citibank building in ...

(AFP) — Fri, 04 Jul 2008 15:57:00 GMT

(AFP) - Pedestrians walk past the Citibank building in New York City. Credit Mutuel of France has made a firm bid for the German retail banking activities of US giant Citigroup, which operates in Germany under the name Citibank, sources close to the matter have said. Photo:Spencer Platt/AFP

A sign is seen outside the offices of BCE Inc., Canada's largest ...

(Reuters) — Fri, 04 Jul 2008 15:51:00 GMT

(Reuters) - A sign is seen outside the offices of BCE Inc., Canada's largest telecoms group, in Montreal, May 21, 2008. REUTERS/Shaun Best

Swiss banking giant UBS, hit hard by the subprime ...

(AFP) — Fri, 04 Jul 2008 15:32:00 GMT

(AFP) - Swiss banking giant UBS, hit hard by the subprime crisis, has said it would break even or report a slight loss for its second quarter thanks to a substantial tax credit. Photo:Fabrice Coffrini/AFP

A plane prepares to land at London's Heathrow ...

(AFP) — Fri, 04 Jul 2008 15:21:00 GMT

(AFP) - A plane prepares to land at London's Heathrow airport. A plan by the European Union to impose a carbon dioxide emissions quota for all airlines flying into and out of the bloc could spark trade wars, aviation industry officials warned. Photo:Adrian Dennis/AFP

A combination of four pictures shows Jean-Claude Trichet, President ...

(Reuters) — Fri, 04 Jul 2008 15:14:00 GMT

(Reuters) - A combination of four pictures shows Jean-Claude Trichet, President of the European Central Bank (ECB) reacting to journalist's questions during his monthly news conference at the ECB headquarters in Frankfurt, July 3, 2008. REUTERS/Kai Pfaffenbach

A motorist holding a fuel pump at a petrol station. ...

(AFP) — Fri, 04 Jul 2008 14:28:00 GMT

(AFP) - A motorist holding a fuel pump at a petrol station. Oil prices fell on profit-taking, a day after surging to record highs on the back of a weak dollar and concerns over tight supplies Photo:Behrouz Mehri/AFP

A Toronto Stock Exchange (TSX) logo is seen in Toronto November ...

(Reuters) — Fri, 04 Jul 2008 13:03:00 GMT

(Reuters) - A Toronto Stock Exchange (TSX) logo is seen in Toronto November 9, 2007. REUTERS/Mark Blinch

Co-defendant Wolfgang Floettl with former director-general ...

(AFP) — Fri, 04 Jul 2008 12:48:00 GMT

(AFP) - Co-defendant Wolfgang Floettl with former director-general of the Austrian BAWAG bank Helmut Elsner (unseen) arrives for a trial in Vienna. In one of the biggest-ever legal cases in Austria, a court convicted the former chief executive of BAWAG bank and eight others of gambling away 1.72 billion euros (2.7 billion dollars) in speculative investments. Photo:Samuel Kubani/AFP

Former director-general of the Austrian BAWAG ...

(AFP) — Fri, 04 Jul 2008 12:48:00 GMT

(AFP) - Former director-general of the Austrian BAWAG bank Helmut Elsner arrives for a trial in Vienna. An Austrian court convicted Friday the former chief executive of BAWAG bank and eight others of gambling away 1.72 billion euros (2.7 billion dollars) in speculative investments in the country's biggest-ever fraud scandal. Photo:Samuel Kubani/AFP

The logo of Swiss bank UBS AG is pictured at one of its buildings ...

(Reuters) — Fri, 04 Jul 2008 12:43:00 GMT

(Reuters) - The logo of Swiss bank UBS AG is pictured at one of its buildings in Lucerne April 4, 2008. REUTERS/Michael Buholzer

A New York City cab driver fills his taxi up with gas at a Hess ...

(Reuters) — Fri, 04 Jul 2008 11:03:00 GMT

(Reuters) - A New York City cab driver fills his taxi up with gas at a Hess station in New York July 2, 2008. REUTERS/Shannon Stapleton

The wife (obscured by umbrella) of Polaris Securities Co Chairman ...

(Reuters) — Fri, 04 Jul 2008 10:58:00 GMT

(Reuters) - The wife (obscured by umbrella) of Polaris Securities Co Chairman Wayne Pai kneels beside his body along a coast in Penghu July 4, 2008. REUTERS/Penghu Coast Guard/Handout

A woman walks past a Postbank branch in Frankfurt in a file ...

(Reuters) — Fri, 04 Jul 2008 10:34:00 GMT

(Reuters) - A woman walks past a Postbank branch in Frankfurt in a file photo. Goldman Sachs said the European banks sector needs to raise about 60 billion to 90 billion euros, or withhold one year of dividends, to reach an aggregate Tier I ratio of 9 percent -- a level achieved by European banks that have recapitalized recently. REUTERS/Alex Grimm

A UBS branch in Geneva, 2007. Swiss banking giant ...

(AFP) — Fri, 04 Jul 2008 09:58:00 GMT

(AFP) - A UBS branch in Geneva, 2007. Swiss banking giant UBS, which had been hit hard by the subprime crisis, on Friday said it would break even or report a slight loss for its second quarter. Photo:Fabrice Coffrini/AFP

Australia's Origin Energy said it planned to ...

(AFP) — Fri, 04 Jul 2008 08:51:00 GMT

(AFP) - Australia's Origin Energy said it planned to recommended that shareholders reject a 13.8-billion-dollar (13.1 billion US) hostile takeover bid by Britain's BG Group. Photo:Jens-Ulrich Koch/AFP

A London branch of Bradford & Bingley bank. Bradford ...

(AFP) — Fri, 04 Jul 2008 08:47:00 GMT

(AFP) - A London branch of Bradford & Bingley bank. Bradford & Bingley said that US investment group TPG Capital had pulled out of an agreement to buy about one quarter of the struggling British bank. Photo:Leon Neal/AFP

Bosch office in Paris. German engineering group ...

(AFP) — Fri, 04 Jul 2008 08:43:00 GMT

(AFP) - Bosch office in Paris. German engineering group Bosch unveiled an offer worth more than one billion euros (1.57 billion dollars) for shares in the solar energy group ersol. Photo:Pierre Verdy/AFP

A woman walks past the logo of Internet search ...

(AFP) — Fri, 04 Jul 2008 08:25:00 GMT

(AFP) - A woman walks past the logo of Internet search engine giant Google at a trade fair. Google expressed disappointment and privacy groups voiced outrage Thursday after a judge ordered Google to give entertainment giant Viacom details of video-watching habits of visitors to its popular video-sharing website YouTube. Photo:Michael Gottschalk/AFP

Buyers pick maize at an open air market in Kagemi, ...

(AFP) — Fri, 04 Jul 2008 07:36:00 GMT

(AFP) - Buyers pick maize at an open air market in Kagemi, Kenya. Biofuels have caused world food prices to increase by 75 percent, according to the findings of an unpublished World Bank report published in The Guardian newspaper on Friday Photo:Simon Maina/AFP