Merkel's Bavarian allies urge tough line with Greece
German Chancellor Angela Merkel's Bavarian allies warned against giving in to Greece in order to keep it in the euro zone, with senior Christian Social Union lawmaker Hans Michelbach saying he saw no realistic chance of an agreement at an emergency summit on Monday.
Chinese firms pour money into U.S. R&D in shift to innovation
Surging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation.
Euro zone to discuss handling Greek default if no new proposals
Euro zone finance ministers will discuss how to hand a looming Greek default at a meeting on Monday unless Athens submits new proposals in the loans-for-reforms talks, EU officials said.
Putin says Russia weathering sanctions, lectures West
President Vladimir Putin boasted on Friday that Russia had found the "inner strength" to prevent sanctions causing a deep economic crisis, and told the West to stop using "the language of ultimatums."
Russia missile plan has 'rattling effect', reality less dramatic
A senior U.S. State Department official played down on Thursday an announcement by Russia that it will add more than 40 new intercontinental ballistic missiles to its nuclear arsenal this year.
Euro zone sets emergency summit on Greece as money flees
Euro zone leaders will hold an emergency summit on Monday to try to avert a Greek default after bank withdrawals accelerated and government revenue slumped as Athens and its international creditors remain deadlocked over a debt deal.
Investors too relaxed on 'Grexit' risk, some fund managers warn
Tom Sowanick, a three-decade veteran of the investment business, returned from a trip to Greece this week with a "very sobering view" of its debt crisis: he now expects the country to default on its obligations and leave the euro zone.
U.S. tech firm Cisco to invest $10 billion in China expansion
Cisco (CSCO.O) plans to invest more than $10 billion in China along with local business partners over the next several years, the U.S. network equipment maker said on Wednesday, as it seeks to shore up its position against strong domestic rivals.
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