Europe

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In Financial Crisis, Europe Leads the Way (for a Change)

Investment in banks proved better strategy than mortgage bailout

(Newser) - The US has long considered Europe to be the economic equivalent of a doddering old uncle, but this week it was oldster leading whippersnapper America by the hand through the most serious crisis since the Depression. Europe, seeing the need for a sturdier fix than the mortgage-bailout Band-aid Washington proposed,...

UK Props Up Major Banks; Fed Offers Cash

Moves to shore up financial system have global markets rising

(Newser) - Governments across the globe are acting with “an enormous amount of congruence” and speed as they pour billions of dollars into rescue plans hoping to keep a sinking banking system afloat, reports the Wall Street Journal. The British government today provided $60 billion to prop up 3 banks, and...

Euro Leaders Hope to Emerge With Crisis Action Plan Today

Europe scrambles to shore up banks

(Newser) - European leaders hoped to emerge today from a meeting in Paris with a detailed unified action plan to address the continuing worldwide economic crisis, Reuters reports. Banks continued to hold emergency talks today with officials in the British government, which is about to purchase major equity stakes in the nation's...

Medvedev Calls for Anti-US Alliance

Tries to drive wedge between Europe and America

(Newser) - Dmitry Medvedev was in France today, mending bridges with Europe while laying the world’s problems—economic and otherwise—at America’s feet, the Telegraph reports. Medvedev blamed US “economic egotism” for the financial breakdown, and accused it of reviving its Russian containment policy and reigniting the Cold War....

The Crisis Dwarfs $700B
 The Crisis Dwarfs $700B 
Oct 7, 2008 10:18 AM CDT

The Crisis Dwarfs $700B

A US-centric band aid can't quell global markets as confidence plunges

(Newser) - As the financial crisis continues to grow, the $700 billion bailout passed by Congress last week may be too little too late, the Washington Post reports. The plan may not begin relieving banks of toxic assets for another month, and, meanwhile, the crisis has gone global, making $700 billion seem...

Europe Scrambles to Save Banks

Governments rescue troubled institutions, pledge to back deposits

(Newser) - Barely a day after rejecting the need for a massive unified rescue plan, European leaders are wading into two substantial bailouts and vowing to save banks, Bloomberg reports. France’s BNP Paribas will take over Fortis in Belgium and Luxembourg, while Germany’s government and banks bail out Hypo Real...

Europe Agrees to Take It One Financial Crisis at a Time

Sarkozy's hopes dashed amid other leaders' opposition

(Newser) - Leaders of Europe’s four biggest economies did not settle on a unified plan for tackling the financial crisis, the Washington Post reports. Instead, each country will deal with banking problems as they crop up. While France’s Nicolas Sarkozy hoped for a Europe-wide plan, British and German leaders were...

Half of Europe's Frog Species May Croak

Habitat loss, climate change, disease likely to wipe out amphibian species

(Newser) - Half of all of Europe's amphibian species could be doomed to extinction within the next few decades, scientists warn. Habitat loss and climate change are already wiping out huge numbers of frogs, toads, newts and salamanders, the Independent reports. The situation has been exacerbated by a skin disease that has...

NY Lehman Crew Gets $2.5B Bonus Pool

European workers, unsure of salaries, furious at payout

(Newser) - Some 10,000 New York Lehman Brothers employees will share bonus pay of $2.5 billion, sparking anger among the investment bank’s European workers and critics of unfair compensation in the imploding finance arena, the Independent reports. The money was arranged before Lehman declared bankruptcy. Lehman’s British staff,...

US Takes Early Ryder Lead
 US Takes Early Ryder Lead 
Sep 19, 2008 1:32 PM CDT

US Takes Early Ryder Lead

Americans haven't had a strong opening since 1991

(Newser) - For the first time since 1991, American golfers lead the Ryder Cup at the end of the opening session. The US is up 3-1 on the Europeans after the morning matches. Justin Leonard and Hunter Mahan claimed the first point for the US, Phil Mickelson and Anthony Kim rallied to...

Reject Obama and World Will Revolt
 Reject Obama 
 and World Will Revolt 
OPINION
Sep 10, 2008 1:48 PM CDT

Reject Obama and World Will Revolt

A McCain victory would be a clear message to the globe

(Newser) - Electing John McCain would be a little like giving the rest of the world the finger, writes Guardian columnist Jonathan Freedland. Judging from international polls, “if the free world could choose its leader, it would be Barack Obama,” he writes. And if the US rejects a once-in-a-generation leader,...

EU Won't Put Ukraine on Membership Fast Track

Amid worries over Russian ambition, Sarkozy acknowledges 'European destiny'

(Newser) - Ukraine’s president left a summit with European Union leaders today without a firm promise of EU membership, the Guardian reports. While French President Nicolas Sarkozy offered Victor Yushchenko an “association agreement” and affirmed Europe’s commitment to Ukraine’s territorial rights, dissent from Germany, Italy and the Netherlands...

Stocks Rally Strong on Fannie, Freddie Takeover

Europe, Japan, US futures see market surge

(Newser) - European and Japanese stocks saw their biggest surge since January and US futures climbed amid news of the Treasury Department’s plan to take charge of Fannie Mae and Freddie Mac, Bloomberg reports. Europe's UBS AG, pounded by subprime losses, and Japan’s Mizuho Financial Group, its biggest bank by...

EU Snubs Talks on New Russia Pact

Retaliation for invasion of Georgia

(Newser) - Europe has backed out of talks on a new partnership agreement with Russia in the wake of the invasion of Georgia, the BBC reports.  The decision followed an emergency European summit in Brussels. The commission president said Europe could not continue with negotiations "as if nothing had happened....

Seeing Red Over Russia, US May Cozy Up to China
Seeing Red Over Russia, US May Cozy Up to China
OPINION
Aug 28, 2008 2:23 PM CDT

Seeing Red Over Russia, US May Cozy Up to China

Beijing may draw closer to DC: FT

(Newser) - Moscow may physically stand in between Beijing and Washington, but Russia’s aggressive behavior could bring the US and China closer together, Geoff Dyer argues in the Financial Times. The Kremlin’s interference in Georgia has Washington seething, and “a low-level confrontation in Georgia that pits Russia against the...

10 Missing in Mont Blanc Avalanche

Helicopters, rescuers seeking survivors

(Newser) - Ten climbers are missing after an avalanche early this morning sheered off a snow slope on the north face of Mont Blanc, Europe's highest mountain. Helicopters, dogs, and rescue workers were searching today for survivors, which included Swiss and Austrian climbers. Eight people injured in the avalanche were being treated...

How France Fell for Le Big Mac
 How France Fell for Le Big Mac
Aug 19, 2008 11:59 AM CDT

How France Fell for Le Big Mac

McDonald's French operation is company's 2nd most profitable

(Newser) - After the US, what country has the most profitable McDonald's franchises in the world? The surprising answer: it's France, home of the Michelin Guide and the three-hour lunch. The London Times travels to Paris to discover how the French have begun to adopt Anglo-American eating practices, abandoning the leisurely midday...

Octopus Has How Many Legs? Guess Again

New research shows denizens of the deep show specialization, and handedness

(Newser) - Octopuses may not be eight-legged creatures after all, new research suggests. They do indeed have eight limbs, but some function more like arms, AFP reports. It breaks down like this: the front two are the most nimble and armlike, and are used for exploration; the back two are used mostly...

Russians Cut Georgia in Half
 Russians Cut Georgia in Half
Aug 11, 2008 5:08 PM CDT

Russians Cut Georgia in Half

Georgian civilians flee from warplanes

(Newser) - Russian forces seized several towns and a military base deep in western Georgia today and captured the main east-west highway near Gori, effectively cutting the country in half, Georgia's president said. Fighting also raged around Tskhinvali, the capital of the separatist province of South Ossetia. Russian warplanes launched new air...

African Sun Could Power EU
  African Sun Could Power EU 
Jul 23, 2008 1:50 PM CDT

African Sun Could Power EU

Scientists propose African solar farms for Europe's power

(Newser) - All of the European continent’s electrical needs could be generated by massive solar farms in Africa, scientists posited today, unveiling a plan to do just that, the Guardian reports. The proposal, which would require an area the size of Wales—insignificant in the vast expanse of the Sahara Desert,...

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