Business - European Economy

SOFIA, Bulgaria - Bulgaria's right-wing opposition party won Sunday's parliamentary election by a wide margin over the corruption-tainted governing Socialist coalition, according to two exit polls.

VATICAN CITY - The Vatican said Saturday it ran a deficit in 2008 as its finances and donations from across the world were hit by the global economic crisis.

VATICAN CITY - Pope Benedict XVI has urged G-8 leaders meeting in Italy next week to rewrite global financial rules and defend the world's poor from the effects of the economic downturn, the Vatican said Saturday.

VATICAN CITY - Pope urges G-8 leaders to rewrite financial rules, defend world's poor from economic crisis.

LONDON - European stock markets traded in a narrow range Friday as investors caught their breath after big losses the day before on U.S. jobs data. Wall Street's closure for the Independence Day holiday kept trading volumes exceptionally light.

LONDON (AFP) - The FTSE 100 weakened further on Friday after sliding a day earlier on news of greater-than-expected job losses in the United States.

LONDON (Reuters) - World stocks fell on Friday after a disappointing U.S. jobs report and a sluggish euro zone services sector survey reinforced expectations that the process of recovery in the global economy would be long and slow.

MOSCOW - Russia is using its energy wealth to shore up influence abroad, pouring billions of dollars in loans and grants into former Soviet states and long-standing allies — even as it faces its own severe economic downturn.

LONDON, July 3, 2009 (AFP) - Europe's main stock markets weakened further on Friday after sliding a day earlier on news of greater-than-expected job losses in the United States.

BRUSSELS (Reuters) - Derivatives pose risks on financial markets that central clearing of contracts would mitigate, the European Commission said on Friday, outlining plans that fall short of more radical U.S. steps.

LONDON (AFP) - Europe's main stock markets recovered slightly at the start of trade on Friday, with London's FTSE 100 index edging up by 0.09 percent to 4,238.22 points.

LUXEMBOURG (Reuters) - The European Central Bank kept euro zone interest rates at 1.0 percent on Thursday, bolstering expectations they will stay there well into next year, and said it would start buying bonds next week.

LUXEMBOURG - The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its "spectacular" infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone's struggling economy.

LONDON (AFP) - Stocks in London ended the session sharply down Thursday on the back of dire unemployment figures released in the US and in the eurozone, where the rate hit a 10-year-high.

MADRID - Spain's intelligence chief resigned Thursday amid allegations he used government money to go on hunting and fishing trips and had staffers remodel his house.

LONDON - Unemployment in the 16 countries that use the euro spiked to a 10-year high in May, reinforcing concerns any recovery will take time with so many people out of work.

STOCKHOLM (AFP) - Sweden kicked off its six-month European Union presidency Wednesday amid fears the bloc's unresolved institutional woes may overshadow its priorities of tackling climate change and the economic crisis.

LONDON (AFP) - The London stock market closed firmer on Wednesday as retailer Marks and Spencer reported strong sales and commodity prices spiked.