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(Image from article: "Italian Senate approves austerity package")

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Drought, food prices fan fears of new crisis

Global alarm over a potential repeat of the 2008 food crisis escalated on Thursday after data showed food prices had jumped 6 percent last month and importers were snapping up a shriveled U.S. grain crop, helping drive corn prices to a new record.

Italian Senate approves austerity package

Italian Senate approves austerity package

The Italian austerity budget worth nearly 48 billion euros was approved by the upper house of parliament on Thursday, overcoming its first parliamentary hurdle.

Economic Crisis 'Successfully Exited'

The euro zone's economic crisis is over and it is now enjoying a broad-based recovery, Bank of France Governor Christian Noyer said.

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Greece must make more cuts, size not yet clear: EU

BRUSSELS (Reuters) - Greece must take additional measures to reach its deficit-cut target of 4 percent of GDP in 2010 but it is not yet clear how far short Athens is with steps announced so far, the European Commission said on Tuesday.

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