Angst returns on German recession fears and US fiscal cliff

Stock markets skidded across the world and investors retreated to safe-haven assets on fears that Europe’s festering crisis has spread to Germany and a bitterly-divided Washington may struggle to avert a fiscal crisis.

European Union urges Greece to strike deal with creditors

VIENTIANE: European Union president Herman Van Rompuy urged Greece on Tuesday to reach an agreement with its troika of creditors so that it can receive a new financial lifeline.

UK services sector slows to 22-month low

Growth in the UK services sector grew in October, but the pace has slowed to an almost two-year low, according to "disappointing" official data.

Angela Merkel: eurozone crisis will last at least another five years

The eurozone will take at least another five years to recover from the crippling debt crisis that has hampered even Europe's most powerful economy, according to German Chancellor Angela Merkel.

Euro Crisis Strongest Headwind, Treasury Official Says

MEXICO CITY--Senior finance officials from the world's top economies meeting this weekend in Mexico City will continue to focus on the European crisis response, a senior U.S. Treasury Department official said Friday, downplaying calls by some in Europe that the U.S. fiscal situation should be the priority.