US stocks shrugged off more grim economic data to begin 2009 with a strong rally, as hopes mounted that the new year would bring buyers back to the market following the worst annual sell-off since the Great Depression

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The Chinese government is moving to crush a group of prominent dissidents and intellectuals that has released a rallying call for democracy, human rights and rule of law

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US manufacturing activity contracted at its sharpest pace for almost 30 years in December, a closely watched survey suggested, underscoring the downward momentum in the economy at the turn of the year

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On new year's eve, fireworks and an all-night rock concert in Bratislava heralded the adoption of the euro, as Slovaks set aside fears over their slowing economy

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A conference in Paris next week of political leaders and Nobel prize-winning economists will discuss ways of strengthening the ethical foundations of the capitalist system after the financial crisis

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The US Treasury set out for the first time a basic framework it uses to evaluate whether a troubled financial institution is systemically important enough to justify emergency aid.

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Israeli troops and tanks on Sunday continued to battle Hamas fighters inside the Gaza Strip, on the second day of a massive ground offensive designed to prevent the Islamist group from firing rockets on nearby Israeli towns

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The European Central Bank could be given significant extra powers in a shake-up of eurozone bank supervision, its vice-president has proposed

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Plans by the ECB for a headquarters in Frankfurt have been criticised as "adventurous" and likely to get out of control by the head of Germany's largest construction company

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Russia and Ukraine traded insults at the weekend as the gas-supply stand-off between the two countries entered a fifth day, causing shortages to ripple west into Europe

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The downswing in the car industry is hitting central Europe, a region that had thrived due to cheap but highly skilled labour, membership of the EU and good transport links with the west

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If Israel's goal is to reduce the number of rockets Hamas can fire, it is probably achievable. But if it proposes to cut the heart out of its implacable opponents, it will fail

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Barack Obama was dealt his first serious setback since the election when his choice for commerce secretary withdrew, as congressional leaders warned that a $775bn fiscal stimulus package was unlikely to be passed before the inauguration

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Large Wall Street firms harboured suspicions about Bernard Madoff's investment business ? in some cases steering clients away from dealing with him ? but were reluctant to voice their concerns to regulators, say US bankers

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Germany's governing SPD has proposed raising income tax on high earners to fund a second, ?40bn economic stimulus package, setting up a showdown with its CDU coalition partner on how to respond to the financial crisis

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