French economist Thomas Piketty says wealth inequality will continue to rise over time.» Read More
AMSTERDAM-- The Netherlands' central bank president has reportedly explained why he broke ranks with German peer Jens Weidmann and agreed to support a European Central Bank plan to buy bonds issued by financially stressed governments such as Spain's.
NEW YORK, Oct 5- The former chief prosecutor of the International Criminal Court will lead a review of Bangladesh's investigation of alleged corruption tied to a major bridge project, the World Bank said late on Friday.
NEW YORK, Oct 5- A young model was insane when he killed and castrated a prominent Portuguese journalist in a New York hotel room, believing he could "harness the power" of the man's severed testicles, a defense lawyer said at the start of the murder trial on Friday.
Children in almost 500 schools and daycare centres across eastern Germany that received food from a subcontractor of the catering firm Sodexo have been affected, and at least 32 have been treated in hospital.
By Naomi O'Leary and Philip Pullella. VATICAN CITY, Oct 6- A trial that has thrown open the window on a betrayal of trust and sensitive secrets in the Vatican will come to a head on Saturday with final arguments before judges deliver their verdict on Pope Benedict's former butler.
*Sanctions mulled for more Iran central bank transactions. *Aimed at pressuring Iran to abandon nuclear program. WASHINGTON, Oct 5- U.S. lawmakers are considering expanding American economic sanctions on Iran- measures that already have helped push that country's currency into free fall but have not yet convinced Tehran to abandon its nuclear program.
*France's Lactalis took control of Parmalat in 2011. MILAN, Oct 5- Italian food group Parmalat, controlled by French cheesemaker Lactalis, on Friday denied a newspaper report about a possible delisting of its shares.
Cape Canaveral, Fla., Oct 5- Space Exploration Technologies, the first private company to fly to the International Space Station, is poised to launch its initial cargo mission to the orbital outpost as part of a $1.6 billion contract with NASA to deliver supplies.
*Supportive U.S. data offset by weak China, Europe reports. NEW YORK, Oct 5- Oil prices fell in volatile trading on Friday and posted weekly losses as a fragile global economy and uncertainty about Europe's debt crisis offset support from a better-than-expected U.S. employment report.
Spain's banks and government are struggling as the country suffers through its second recession in three years and its overall unemployment rate is at nearly 25 percent.
LONDON-- James Bond lovers have spent thousands of pounds for pieces of memorabilia from the spy movies at a London auction. Among the items under the hammer Friday in London was the complete works of Ian Fleming, Bond's creator. A navy, wool Tom Ford suit worn by Daniel Craig in the new Skyfall film due out on Oct. 26 sold for 46,850 pounds.
NEW YORK, Oct 5- U.S. crude futures fell 2 percent on Friday and posted a loss for the week as a fragile global economy and uncertainty about Europe's debt crisis countered any support from a better-than-expected U.S. employment report. For a complete report on oil markets, double click on. SETTLE NET PCT LOW HIGH CURRENT DAY AGO CHNG CHNG VOL VOL.
--On Oct. 5, 2012, Dublin- based aircraft lessor AWAS Aviation Capital Ltd. announced that its board of directors had approved the conversion of $800 million of shareholder loans into equity.
WASHINGTON-- The U.S. unemployment rate dropped below 8 percent for the first time since the month President Barack Obama took office, a surprising lift for both the economy and his re-election hopes in the final weeks of the campaign. It fell because a government survey of households found that 873,000 more people had jobs, the biggest jump since January 2003.
*Nonfarm payrolls rose 114,000 in September* Unemployment rate falls to 7.8 percent, lowest since 2009* Household survey shows most job gains since 1983* Average hourly earnings gain 7 cents* Report is second to last before Nov. 6 elections By Lucia Mutikani.
ATHENS, Oct 5- National Bank of Greece made a share-swap offer to buy all of rival Eurobank and create the country's biggest lender, it said on Friday, the latest move in efforts to consolidate the Greek banking industry.
With a looming election keeping Japan from making a decision on how much, if any, of its nuclear reactor fleet it will keep, and slowing growth in China weighing on the broader resource sector, it will likely be months before uranium prices start moving back toward pre-Fukushima levels.
*Fred Hassan to become non-executive chairman in January. Oct 5- Avon Products Inc will close the book on the Andrea Jung era at the end of the year, clearing the way for new Chief Executive Sheri McCoy to try to fix the iconic but struggling beauty products company.
U.S. crude oil futures settled down nearly $2 a barrel as signs this week of slowing in the manufacturing and services sectors in Europe and China continued to weigh on investor sentiment. ,down 0.5 percent to C $33.00, Canadian Natural Resources, down 1.6 percent to C $30.22 and Encana Corp, off 2.6 percent to C $21.27.
NEW YORK, Oct 5- U.S. The U.S. Labor Department said the unemployment rate fell to a four-year low of 7.8 percent in September, down from 8.1 percent in August, as 114,000 jobs were added. "The big shock was the drop in the rate, the consensus number was right in line," said Sean Murphy, a Treasuries trader at Societe Generale in New York.