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• Greek debt fears weigh on euro, curb world stocks (Reuters)
• EU racing to draft second Greek bailout, sources say (Reuters)
• S&P cuts Tepco's credit rating to junk (Reuters)
• Lagarde kicks off IMF campaign in Brazil (Reuters)
• Ireland rules out second bailout; to test market in 2012 (Reuters)
• FTSE climbs 0.98 percent at close (AFP)
• Focusing on jobs, Biden hails car industry rebound (Reuters)
• ECB official: New Greek aid under study (AP)
• 'No conclusion' to world trade talks in 2011 (AFP)
• Gasoline prices erode spending, incomes (Reuters)
• Iran oil output 'may drop drastically by 2015' (AFP)
• Greek opposition sets demands as EU/IMF verdict nears (Reuters)
• Renault board room shuffle after scandal (AFP)

Greek debt fears weigh on euro, curb world stocks (Reuters) Posted: 30 May 2011 02:06 AM PDT Reuters - The euro slipped and world stocks were stuck on Monday with fears of a Greek debt default undimmed and U.S. and UK market holidays keeping many investors on the sidelines.

EU racing to draft second Greek bailout, sources say (Reuters) Posted: 30 May 2011 08:51 AM PDT Reuters - The European Union is urgently working on a second bailout package for Greece in a race to release vital loans next month and avert the risk of the euro zone country defaulting, EU officials said on Monday.

S&P cuts Tepco's credit rating to junk (Reuters) Posted: 30 May 2011 06:01 AM PDT Reuters - Ratings agency Standard and Poor's cut its credit rating on Tokyo Electric Power (9501.T) to junk status on Monday, saying the utility's lenders were more likely to be forced to write off debt as part of a plan to compensate victims of an ongoing nuclear crisis.

Lagarde kicks off IMF campaign in Brazil (Reuters) Posted: 30 May 2011 08:32 AM PDT Reuters - French Finance Minister Christine Lagarde arrived in Brazil on Monday seeking to win support from one of the most influential emerging economies for her bid to the lead the International Monetary Fund.

Ireland rules out second bailout; to test market in 2012 (Reuters) Posted: 30 May 2011 07:34 AM PDT Reuters - Ireland's government moved on Monday to quash speculation it would be forced to seek a second EU-IMF bailout and said it would make a tentative return to international debt markets in the final quarter of next year.

FTSE climbs 0.98 percent at close (AFP) Posted: 27 May 2011 09:19 AM PDT AFP - Stocks markets closed higher on Friday, with London's FTSE 100 index of leading shares up 0.98 percent to 5,938.87 points.

Focusing on jobs, Biden hails car industry rebound (Reuters) Posted: 28 May 2011 03:03 AM PDT Reuters - Vice President Joe Biden on Saturday hailed the recovery of the U.S. auto industry, turning White House attention back to the domestic priority of job creation after a week devoted to foreign policy.

ECB official: New Greek aid under study (AP) Posted: 30 May 2011 07:55 AM PDT AP - Greece could get another euro20 billion ($28 billion) in aid from its fellow euro countries and raise three times that through new austerity measures such as selling government property, a top European Central Bank official says.

'No conclusion' to world trade talks in 2011 (AFP) Posted: 30 May 2011 08:39 AM PDT AFP - The troubled decade-long Doha round of global trade talks will not be concluded this year, South African Trade Minister Rob Davies said on Monday.

Gasoline prices erode spending, incomes (Reuters) Posted: 27 May 2011 01:20 PM PDT Reuters - The economy remained sluggish early in the second quarter as high gasoline prices crimped consumer spending and bad weather helped push pending home sales to a seven-month low in April.

Iran oil output 'may drop drastically by 2015' (AFP) Posted: 30 May 2011 06:00 AM PDT AFP - Iran's oil production may fall to 2.7 million barrels per day within five years unless 150 billion dollars is invested in its energy sector, a top official said in a report on Monday.

Greek opposition sets demands as EU/IMF verdict nears (Reuters) Posted: 30 May 2011 04:55 AM PDT Reuters - Greece's conservative opposition demanded tax cuts on Monday as the price for a consensus deal with the Socialist government on imposing yet more austerity, a major condition for getting further aid from the EU and IMF.

Renault board room shuffle after scandal (AFP) Posted: 30 May 2011 07:00 AM PDT AFP - French carmaker Renault appointed on Monday Carlos Tavares as its new deputy chief in a board room shuffle aimed at overcoming an embarrassing a bogus industrial espionage case.

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