AP - Portugal announced new austerity measures Monday to avoid a debt crisis like the one engulfing Greece, cutting welfare benefits and government hiring as well as selling assets and raising taxes on the well-off.
Business
Portugal adds austerity measures (AP)
FTSE 100 inches higher (AFP)
AFP - The FTSE 100 stock exchange inched higher on Monday as a rally brought on by better-than-expected US jobs data petered out due to uncertainty about Europe's economic outlook.
Audi '09 net income down 39 pct to $1.8 billion (AP)
AP - German carmaker Audi AG says its 2009 net income fell 39 percent to euro1.35 billion ($1.8 billion) as the economic downturn cut demand for its cars.
Britain's trade deficit widens (AP)
AP - Britain's trade deficit with the rest of the world widened unexpectedly in January after lower sales of chemicals and other commodities led a drop in exports.
European stocks fall as markets mark dark anniversary (AFP)
AFP - Europe's leading stock markets dropped in morning trade on Tuesday as investors reacted to poor earnings news on the grim anniversary of global indices striking multi-year low points.
German bankruptcies up 15.5 pct in December (AP)
AP - New data show that German corporate bankruptcies were up 15.5 percent on the year in December amid the fallout from the economic crisis.
Deutsche Post 2010 outlook misses estimates (Reuters)
Reuters - Deutsche Post DHL (DPWGn.DE) unveiled a conservative financial strategy that focuses on saving cash to safeguard its credit rating and gave a 2010 earnings outlook that missed market expectations.
China says committed to U.S. debt, wary on gold (Reuters)
Reuters - China, the world's biggest holder of foreign exchange reserves, renewed its commitment to the U.S. Treasury market on Tuesday but said it would be wary of substantially boosting its gold holdings.
EU, ECB lock horns over IMF-style rescue fund (Reuters)
Reuters - European policymakers came out in support of a rescue fund that would mark a new phase of economic cooperation within the 16-nation euro zone, setting them on a potential collision course with its central bank.
Jobs outlook may be too optimistic: SF Fed study (Reuters)
Reuters - The widely held outlook that U.S. unemployment will ease this year may be overly rosy if companies continue to boost productivity at faster-than-usual levels, economists from the San Francisco Federal Reserve Bank said in a study released on Monday.
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