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EU competition chief: avoid car subsidy race (AP)
AP - The European Union's competition chief said Friday that Germany and France should avoid entering a global "subsidy race" to bail out the ailing car industry.

Russian MPs approve longer presidential terms (AFP)
AFP - Russian lawmakers gave final approval on Friday to a bill extending presidential terms, after a speech on the economy by Prime Minister Vladimir Putin revived speculation over his political ambitions.

Ford 'wants 40bn euros in EU loans' for industry (AFP)
AFP - The European Union should make around 40 billion euros (50 billion dollars) in loans available to the continent's ailing auto sector, the head of Ford Germany said in comments published Friday.

Rome museums shut down by one-day strike (AP)
AP - Some of Rome's most visited museums and monuments are staying shut as ticket-booth workers and security guards stage a one-day strike amid fears of job cuts.

Russia's Alfa denounces court order to sell stakes ..
AP - Russian conglomerate Alfa Group on Friday railed against a court ruling by a New York judge, who ordered the company to sell stakes in some of its Ukrainian assets, calling the decision "unfair."

Germany's president lashes out at bankers
Bankers should stop pointing the finger at others and acknowledge their responsibility in the financial crisis, Germany's president said in some of his harshest criticism of the behaviour that contributed to global market turmoil

Police investigate car blaze near BNP member home (AFP)..
AFP - Police on Friday launched an investigation into a suspicious car blaze near the West Yorkshire home of a member of the far-right British National Party (BNP).

Germany to borrow an extra euro8 billion in 2009 (AP)
AP - Germany will have to borrow an extra euro8 billion ($10 billion) next year, as it expects to spend more even while revenues slump, the parliamentary budget committee said Friday.

Suspects deny gruesome murder of French students (AFP)
AFP - Two men accused of the horrific murder of a pair of French students in London in June pleased not guilty Friday, opening the way for the case to go to a full trial.

Iranian collector faces jail over book scam (AFP)
AFP - A wealthy Iranian businessman faced possible jail Friday after he admitted cutting out and stealing pages from rare books in some of the top libraries to improve his own collection.

French charge suspected Basque terrorist leader (AP)
AP - A French judicial official says preliminary terrorism charges have been filed against the suspected leader of the Basque separatist group ETA.

UK electronics retailer DSG's shares jump 40 pct (..
AP - Shares in DSG International PLC soared 40 percent Friday from a 20-year low after Credit Suisse raised its rating of the stock to "outperform" on the basis that market concern over the economic slowdown had left the stock overly cheap.

US dollar down, gold up in Europe (AP)
AP - The U.S. dollar was mostly lower against other major currencies in European trading Friday morning. Gold rose.

Survey shows euro-zone economy shrinking in Nov (AP)
AP - The downturn in the euro-zone economy, particularly within the manufacturing sector, gathered pace in November amid mounting recession fears and the deepening financial crisis, a closely watched survey showed Friday.

Eurozone business activity tanks in November: survey
Business activity in the eurozone countries slumped in November at the fastest pace on record as a severe downturn deepened, according to a survey.

Ford wants EUR 40 billion in EU loans for industry: report
The European Union should make around EUR 40 billion in loans available to the continent's ailing auto sector, the head of Ford Germany said in comments published on Friday.

Banks, Miners Lift European Shares
European markets rebounded after sharp declines in recent days as investors scooped up battered financial and mining shares. London's FTSE gained 1.3% and the Dow Jones Stoxx 600 rose 1.2%.

New EU online library crashes under weight of interest
The EU's new Europeana digital library has swiftly become a victim of its own success, forced to shut down for weeks within hours of its launch due to the enormous amount of interest.

In from the cold
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Gallas faces fight for Arsenal captaincy after rant (AF..
AFP - William Gallas faces a fight to hold onto the Arsenal captaincy after the France defender came under-fire for his shock blast at his young team-mates.

Madonna and Ritchie granted divorce in London court (AF..
AFP - A judge granted pop megastar Madonna and her filmmaker husband Guy Ritchie a divorce Friday, barely a month after they announced the end of their eight-year marriage.

Train fares rise in new year (AFP)
AFP - Rail fares are set to rise in January with some tickets going up by more than twice the rate of inflation, the train operators said on Friday.

Stocks stage a turnaround (AFP)
AFP - The London stock market staged a turnaround on Friday despite a steady flow of dismal economic news.

Men deny French student murders
Two men deny murdering two French students who were found dead in a blazing bedsit in London.

UK home repossessions up 12 pct in 3Q from 2Q (AP)
AP - Home repossessions in Britain jumped 12 percent to 11,300 in the third quarter from the previous quarter, the Council of Mortgage Lenders said Friday, more evidence that the financial crisis is taking its toll on households and the ailing housing market.

Italian telecoms talks collapse
Hutchison Whampoa subsidiary 3 Italia fails to reach a merger agreement with Telecom Italia because of price disagreements.

Report: Ford Germany needs no state bailout money (AP)
AP - Bernhard Mattes, chief of Ford Motor Co's. German unit, said that while the company can survive without a bailout from the German state, it hopes the European Union will help the ailing auto industry with a loan package.

Monty, Wilson hot at Hong Kong Open golf (AFP)
AFP - Scotland's Colin Montgomerie shrugged off one of the worst slumps of his career at the UBS Hong Kong Open on Friday, while 'nearly man' Oliver Wilson raised hopes of a breakthrough win.

Russian MPs vote for longer presidency (Reuters)
Reuters - Russia's lower house of parliament approved on Friday a constitutional amendment extending the presidential term of office to six years from four.

Eurozone recession deepening rapidly
The eurozone's recession is deepening rapidly, with private sector activity contracting this month at the fastest rate for at least a decade, a closely-watched survey has indicated

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