Yahoo! News: Europe News

Munich Re 3Q profit plummets, 2008 target dropped (AP) Posted: 07 Nov 2008 04:29 AM CST AP - Reinsurer Munich Re AG said Friday that it barely eked out a profit in the third quarter as its investments were hurt by falling stock markets, forcing the company to abandon its full-year earnings forecast for the second time this year.

Owen has Europe in Newcastle sights (AFP) Posted: 07 Nov 2008 04:21 AM CST AFP - Newcastle striker Michael Owen believes qualification for Europe at the end of what may yet prove a turbulent season for the club is a realistic goal.

European leaders to press for action (Reuters) Posted: 07 Nov 2008 04:20 AM CST Reuters - European leaders will propose a new global financial framework on Friday after the International Monetary Fund (IMF) warned the world's richest economies face their first year of contraction since World War Two.

Luxury carmaker BMW drops 2008 sales goal (AP) Posted: 07 Nov 2008 04:20 AM CST AP - Automaker BMW AG said Friday that it no longer expects to report record sales for 2008 because of consumers' growing reluctance to spend on new cars amid fears of a recession.

IMF, European states plan $6bln loan for Iceland: Poland (AFP) Posted: 07 Nov 2008 04:08 AM CST AFP - The IMF and a group of European countries are preparing a six billion dollar (five billion euro) loan to Iceland, hit hard by the financial crisis, Poland's finance ministry said on Friday.

British Airways loses $77 million in first half (AP) Posted: 07 Nov 2008 04:06 AM CST AP - British Airways PLC on Friday reported a first-half loss of 49 million pounds ($77 million), as chief executive Willie Walsh said record high oil prices and a global economic slowdown meant the period would "be remembered as one of the bleakest on record."

Poland plans to help Iceland in financial crisis (AP) Posted: 07 Nov 2008 03:34 AM CST AP - Poland said Friday it plans to join what it said would be a $6 billion aid package for Iceland along with Britain, the Netherlands and Scandinavian countries to help the island nation salvage its collapsed financial system.

British Airways profits plunge after 'bleakest' period (AFP) Posted: 07 Nov 2008 03:25 AM CST AFP - British Airways announced a 92-percent plunge in half-year profits on Friday following "incredibly difficult trading conditions" and high fuel prices.

European shares climb higher (Reuters) Posted: 07 Nov 2008 03:15 AM CST Reuters - European shares climbed on Friday while most Asian shares fell as investors sought to balance economic worries with a new era of lower interest rates ahead of key U.S. jobs data.

Labour snatches unlikely victory in Glenrothes by-election (AFP) Posted: 07 Nov 2008 03:02 AM CST AFP - Prime Minister Gordon Brown's Labour Party snatched victory from the jaws of defeat Friday in a key by-election seen as a test of whether his handling of the credit crunch can equal electoral revival.

UK's Brown gets good sign in Scottish election win (AP) Posted: 07 Nov 2008 02:41 AM CST AP - An election victory in Scotland is a sign that Prime Minister Gordon Brown's Labour Party is regaining its popularity after Brown launched an unprecedented and widely praised bailout of some of Britain's leading banks.

Britain sets new constitution for Falkland Islands (AP) Posted: 06 Nov 2008 11:07 PM CST AP - The disputed Falkland Islands have a new constitution, the British and Falkland Islands' governments said Thursday.

Putin's return? Russian parliament may allow it (AP) Posted: 06 Nov 2008 05:45 PM CST AP - Russia's constitution will be amended by year's end to extend the presidential term to six years, lawmakers promised Thursday — a move that could pave the way for Vladimir Putin's return to the Kremlin.

UK police: man charged with having IEDs, Nazi book (AP) Posted: 06 Nov 2008 04:32 PM CST AP - British police charged a 43-year-old man Thursday with plotting an act of terrorism and having two improvised explosive devices, chemicals, timers, and a Nazi-themed handbook.

Stolen Shakespeare folio suspect re-arrested (AP) Posted: 06 Nov 2008 03:45 PM CST AP - The curious case of a stolen First Folio of Shakespeare's plays took a new twist Thursday when police in northeast England re-arrested the prime suspect for more questioning.

Belgian leaves party post over anti-Semitic song (AP) Posted: 06 Nov 2008 03:22 PM CST AP - A far-right senator in Belgium has stepped down as his party's leader after a video of him singing a song poking fun at the Holocaust was broadcast on national television.

Italian leader: Obama 'handsome and even tanned' (AP) Posted: 06 Nov 2008 02:56 PM CST AP - Italy's famously impolitic Prime Minister Silvio Berlusconi described U.S. President-elect Barack Obama on Thursday as "young, handsome and even tanned."

Swiss to return stolen antiquities to Italy (AP) Posted: 06 Nov 2008 01:03 PM CST AP - Switzerland is returning 4,400 ancient artifacts stolen from archaeological sites in Italy, including ceramics, figurines and bronze daggers dating as far back as 2,000 B.C., prosecutors said Thursday.

Liverpool rocks for MTV Europe Music Awards (AP) Posted: 06 Nov 2008 11:46 AM CST AP - When Kanye West performs Thursday at the MTV Europe Music Awards, it will be the second time he's taken the stage at the ceremony — but the first time he's been invited.

Correction: Britain flooded marathon story (AP) Posted: 06 Nov 2008 10:55 AM CST AP - In an Oct. 26 story about a marathon canceled because of rain, The Associated Press incorrectly reported the height of the mountains in Britain's Lake District. The highest peak is 978 meters (3,209 feet), not 2,150 meters (7,054 feet).

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