George Osborne, finance spokesman for Britain’s opposition Conservatives, said the U.K. risks a “Greek-style budget crisis,” as opinion polls showed his party may struggle to win sufficient electoral support to control the pace of debt-cutting measures.

U.K. Risks ‘Greek-Style’ Crisis, Conservatives Say (Update1)

The global airline industry will take at least three years to recover after the worst recession in six decades hurt travel demand, said Giovanni Bisignani, chief executive of the International Air Transport Association.

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Airline Industry Will Take Three Years to Recover, IATA Says

Russia’s private oil giant Lukoil and partner Statoil ASA of Norway have signed a final deal with Iraq to develop one of its biggest oil fields. Under the 20-year deal, the Lukoil-led group will develop the southern West Qurna Phase 2 field and will be paid $…

Iraq – Lukoil – Statoil – Oil field – Russia

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Iraq seals deal with Russia’s Lukoil-led group

JOHN MUNSON/THE STAR-LEDGERAvis-Budget CEO Ronald Nelson poses at the Parsippany headquarters next to a replica vintage car built for the 1964 World’s Fair. A dozen years ago, Ronald Nelson’s wife asked what he wanted for his 45th birthday — besides…

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Parsippany-based Avis Budget Group rebounds after surviving a rough year

President Barack Obama is endorsing nuclear energy like never before, trying to win over Republicans and moderate Democrats on climate and energy legislation. Obama singled out nuclear power in his State of the Union address, and his spending plan for the…

Barack Obama – Republican – Democratic – Nuclear power – President of the United States

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Obama pushes nuclear energy to boost climate bill

Dubai stocks retreated for the first time in three days after U.S. shares fell, oil closed at the lowest in five weeks and investors sought clarity on the restructuring of government-owned holding company Dubai World.

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Dubai Shares Fall on U.S. Stocks Drop, Lack of Dubai World News

The United States has begun beefing up its approach to defending its Persian Gulf allies against potential Iranian missile strikes, officials says. The defenses are being stepped up in advance of possible increased sanctions against Iran. The Obama…

Iran – Persian Gulf – United States – Middle East – Business and Economy

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US upgrades defense of Persian Gulf allies

The Pakistani army said Sunday that it was investigating reports that Pakistani Taliban leader Hakimullah Mehsud died from injuries sustained in a U.S. drone missile strike in mid-January. The army’s announcement came shortly after Pakistani state television…

Pakistan – United States – Washington D.C – Asia – Government

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Pakistan checks reported death of Taliban chief

A local official says two Pakistani paramilitary troops were killed in the country’s northwest tribal region when one of the mules they were riding to fetch water stepped on a land mine. Zabit Khan says suspected militants had recently planted the mine in the…

Pakistan – United States – Washington D.C – Asia – Government

Pakistan: Mule steps on land mine, kills 2 troops

Leaders of a United Auto Workers local answered questions from skeptical members Saturday about why it was taking so long to negotiate the final payments to the 4,700 people who will lose their jobs when New United Motor Manufacturing in Fremont shuts down…

United Auto Workers – United States – Nummi – Labor – Toyota

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Nummi workers demand action by union leaders

U.K. Prime Minister Gordon Brown said a “return to strong, sustainable global growth” remains “some way off.”

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Brown Says Return to Sustainable Global Growth ‘Some Way Off’

Australian borrowing for home- buying fell to a five-year low this month after house prices climbed and the central bank increased lending rates, according to Australian Finance Group Ltd.

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Australian Mortgages at Five-Year Low, Broker Says (Update1)

The U.S. Troubled Asset Relief Program’s watchdog expanded investigations into misconduct in the $700 billion federal bank rescue program, increasing the number of opened cases by 41 percent in the fourth quarter.

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TARP Probes Jump 41 Percent in Fourth Quarter, Watchdog Reports

WASHINGTON (Reuters) – The U.S. taxpayer-funded rescue program set up to save banks from collapse during the financial crisis makes future reckless behavior more likely, the government’s bailout watchdog said in a quarterly report.

U.S. bank bailout encourages risky behavior: watchdog

China’s foreign minister warned that U.S. plans to sell $6.4 billion of arms to Taiwan will harm Chinese efforts to unify peacefully with the island, the ministry said Sunday, after China suspended U.S. military exchanges and threatened unprecedented…

United States – Republic of China – People’s Republic of China – China – Arms industry

China: Taiwan arms sales harm national interest