Barack Obama's $3.8 tn election-year budget goes to Congress

WASHINGTON: President Barack Obama on Monday was selling a a $3.8 trillion election-year budget, a spending outline designed to cut $4 trillion from the deficit in 10 years through spending restraints and higher taxes on the wealthy. Republicans said the plan fails to tackle the nation's deep fiscal problems.

EU won't drop aviation CO2 scheme

(Reuters) - The European Union will not bow to pressure to suspend a controversial scheme to charge airlines for their carbon emissions, but is willing to be flexible in finding a solution to a row that threatens to escalate into a full-blown trade war.

Greece set to agree bailout as Germany demands action

ATHENS: Greek lawmakers looked set to endorse a new and deeply unpopular austerity deal on Sunday to secure a multi-billion-euro bailout and avert what Prime Minister Lucas Papademos warned would be "economic chaos".

Barack Obama urges Congress to extend payroll tax cut

US President Barack Obama urged Congress Saturday to quickly pass an extension of the payroll tax cut to prevent a tax increase on 160 million Americans.

Latvia's move to euro faces big challenges: IMF

WASHINGTON: Latvia faces big economic challenges in its planned adoption of the euro, not the least of which is the eurozone crisis itself, the International Monetary Fund said on Tuesday.

Greek Leaders Struggle for Agreement on Cuts

LONDON — Greek political leaders continued to struggle Wednesday to secure agreement on new austerity measures to be presented to the country’s financial backers in the coming days.

Europe’s Banks Reluctant to Lend to Companies in Need of Cash

LONDON — European governments are not the only ones struggling with debt. So are some of the region’s companies.