US-NEWS Summary

Sep 5, 2011, 11:59 p.m.

EU President says leaders committed to euro zone

CANBERRA (Reuters) - The European Union's top official on Tuesday defended the political will of EU leaders to resolve the euro-zone debt crisis, despite concerns that they seem unable to halt a slide back into recession and avoid a fresh banking crisis. EU Commission President Jose Manuel Barroso was speaking at a conference in Australia, the morning after investors sold off European markets, sending the euro lower and causing spreads on Italian and Spanish bond yields to surge.

Former News Corp executives to face hacking committee

LONDON (Reuters) - Four former executives from News Corp's UK newspaper arm will appear before a powerful parliamentary committee on Tuesday in the ongoing hunt to establish who knew what about phone hacking and whether James Murdoch did enough to uncover the scandal. The committee called the four men who no longer work for News International -- two lawyers, the head of human resources and an editor -- after evidence emerged which suggested that the company had engaged in a huge corporate cover up.

G7 to seek ways to prop up global growth: source

(Reuters) - Group of Seven financial leaders, worried about risks to global growth, are likely to agree this week to keep monetary policy accommodative, slow fiscal consolidation in countries where that is possible and implement structural reforms, a G7 source said. Finance ministers and central bank governors of the United States, Canada, Japan, Germany, France, Italy and Britain (G7) meet on Friday in the French port of Marseilles to discuss what action to take to prop up the slowing global economy.

Libyans say China, Europe sent arms to Gaddafi

TRIPOLI (Reuters) - Libya's new leadership has evidence Muammar Gaddafi bought arms this year from sanctions-busting traders in China and Europe, many of them via Algeria, but are split over how far to retaliate against governments who failed to stop it. In interviews with Reuters in Tripoli on Monday, officials of the National Transitional Council (NTC) also accused Algeria of acting as Gaddafi's "lifeline," providing him with vital supplies and fighters during Libya's six-month war.

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