Oil prices climbed over $130 dollars a barrel for the first time ever on Wednesday, mainly driven by supply worries. OPEC's biggest producer Saudi Arabia announced a modest increase in production last week but the organisation has not signalled any intention of boosting output. European stocks fell as oil's record highs fuelled inflation fears and concerns over the outlook for corporate profits. One German bond trader said markets are now seriously worried by rising oil. SOUNDBITE: Stefan Scharffetter, Bond trader, Baader Wertpapier Handelsbank, saying (German): "Oil isn't getting cheaper anywhere. Everyone was waiting for a reaction and for the price to go down, which hasn't happened. As a result, 100 points were trimmed from the top of the Dax and that's down to the high oil price." UBS is reshuffling its risks by offloading $15 billion dollars of distressed U.S. mortgage items to asset management company Blackrock. Investors welcomed the move, seeing it as a way to cut...
A Palestinian driving a front-end loader plowed into a string of vehicles on a crowded Jerusalem street Wednesday, killing at least three and injuring dozens before he was shot dead, police said....
Former Pakistani prime minister Benazir Bhutto was gunned down Thursday by an attacker who then blew himself up, killing at least 20 others. The assassination of Bhutto sparked riots across...
A sour end to a gloomy week of trade in Asia as investors eyed soaring oil prices and inflation. Tokyo's benchmark Nikkei fell 0.2 percent (13,238), its 12th consecutive day of declines. Japan's...
Hectic, at times frantic. London is the kind of place where getting around faster and standing in fewer queues has a great deal of appeal. The mobile operator O2 thinks it may have the answer - a...
Desperately clinging on as best they can in the aftermath of typhoon Fengshen which has claimed the lives of more than 150 people across the Philippines. Rescue teams approach with caution -...
Neighbours come to the rescue after a woman and her child are nearly swept away by flood water. This is Iloilo Province in the Philippines - one the areas worst affected by Typhoon Fengshen, or...
There are 140,000 Roma living in Italy. Most of them live on squalid shanty sites with poor sanitation and no running water. Now they are being targeted in a government crackdown on crime for...
The last of the surge is leaving Iraq. The U.S. military has begun withdrawing the last of the extra brigades that were deployed to the country in 2007. Rear Admiral Patrick Driscoll in Baghdad...
Colombian troops tricked rebels into freeing politician Ingrid Betancourt and three Americans in a bold but bloodless jungle rescue that dealt a severe blow to Latin America's oldest left-wing...
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