BUSINESS
May 20, 2012 | Joseph N. DiStefano
Europe's a puzzle. People over there stopped having babies — but they don't like immigrants, either. Who do they think will staff their nursing homes? Or pay for them? Seventeen European countries swore to stay on a budget if the rich Germans agreed to back a powerful united currency, the euro, so even Irish and Portuguese could afford German-built Mercedes sedans and Siemens gadgets and SAP software. But some of those countries lied! Now they can't agree to spend more, or less, to get things moving again.
BUSINESS
May 18, 2012 | By Matthew Perrone, ASSOCIATED PRESS
WASHINGTON — Researchers say the U.S. approved more new medicines in less time than Europe and Canada in the last decade, challenging long-standing criticisms that the Food and Drug Administration lags behind its peers in clearing important new drugs. Between 2001 and 2010, the FDA's typical review of a new drug was about 15 percent faster than those by the European Medicines Agency and Health Canada, its foreign counterparts, according to a study published Wednesday by the New England Journal of Medicine.
NEWS
May 13, 2012 | Christine M. Flowers, Philadelphia Daily News
I REMEMBER WHEN President Obama went on what some conservatives (including this one) called the "apology tour. "It was shortly after he took office three years ago, and provided his critics with a lot of snarky material. Karl Rove wrote in the Wall Street Journal that "A superstar, not a statesman, today leads our country. " He was referring to the fact that foreign audiences loved the image of an American president distributing mea culpas for what the vast majority of his compatriots viewed as making the world a safer and more-prosperous place.
NEWS
May 13, 2012 | By Don Melvin and Rod McGuirk, Associated Press
In Europe, where more than 200,000 people thronged a Berlin rally in 2008 to hear Barack Obama speak, there's disappointment that he hasn't kept his promise to close the military prison at Guantanamo Bay, and perceptions that he's shunting blame for the financial crisis across the Atlantic. In Mogadishu, a former teacher wishes the president had sent more economic assistance and fewer armed drones to fix Somalia's problems. And many in the Middle East wonder what became of Obama's vow, in a landmark 2009 speech at the University of Cairo, to forge a closer relationship with the Muslim world.
NEWS
May 11, 2012 | By Trudy Rubin, Inquirer Columnist
In this week's Greek elections, the far-right, ultranationalist Golden Dawn party, whose members perform Nazi salutes at rallies, got 7 percent of the vote and entered Parliament for the first time. Its leader told journalists to stand upon his arrival at a news conference and ejected those who did not. A sick joke, you say. What's 7 percent? But Golden Dawn's gains are a symbol of a protest vote that fed extremes in Greece and decimated centrist parties, making it impossible to form a government in a country on the edge of economic collapse.
SPORTS
May 10, 2012 | By Kerith Gabriel, Daily News Staff Writer
Just because the Union host a Mother's Day showdown against Major League Soccer rival New York Red Bulls on Sunday doesn't mean they are overlooking Wednesday's friendly against Schalke 04. They can't afford to. This isn't a preseason match for the German visitors, but rather a U.S. visit three days removed from a successful campaign in the top-flight Bundesliga. Schalke's third-place finish secured a Champions League spot next season as one of the best in Europe. Although not a household name in the States, Schalke is no joke, and the Union know it. The club features some of the world's premier talent, including Dutch midfielder Klaas-Jan Huntelaar and veteran Spanish forward Raúl Gonzalez Blanco (known worldwide by just his first name)
BUSINESS
May 10, 2012 | Inquirer Staff Report
US Airways is adding flights to Europe from Philadelphia for the busy summer travel season, the airline said Wednesday. Seasonal flights will operate to Barcelona, Frankfurt, Venice, Lisbon, Athens, Glasgow and, for two weeks in July, to Dublin. Additional seasonal flights are also being added from Charlotte, the airline said. — Paul Nussbaum
NEWS
May 9, 2012 | By Daniel Wagner, ASSOCIATED PRESS
Political uncertainty in debt-hobbled Europe spread to financial markets Tuesday and pushed stocks lower in Europe and the United States. The Dow Jones industrial average was down almost 200 points at its low point for the day before recovering most of its loss to finish down 76. It was the average's fifth straight decline. European indexes closed near their lowest levels in months, and the euro neared a five-month low against the dollar. Prices plummeted for commodities like oil and copper that depend on the health of the world economy.
NEWS
April 22, 2012 | By Martin Crutsinger and Harry Dunphy, Associated Press
WASHINGTON - An infusion of hundreds of billions of dollars will give the International Monetary Fund a badly needed boost to tackle Europe's prolonged debt crisis. But global finance officials sent a strong message Saturday that struggling governments must speed reforms or risk spooking jittery markets and raising the economic danger. The lending agency said in a statement after its weekend meetings that financially strapped European countries must put in place bold changes to resolve their debt problems.
NEWS
April 22, 2012 | By Desmond Butler, Associated Press
WASHINGTON - Major delays, cost overruns, and critical technological problems are plaguing a missile-defense system designed to protect the United States and Europe from an Iranian attack, Pentagon advisers and government investigators say about one of President Obama's top military programs. The reports cast doubt on the shield, a politically sensitive issue at home and in relations with Russia. They say missile interceptors are running into production glitches, radars are underpowered, and sensors cannot distinguish between warheads and other objects.