The Swedish Financial Supervisory Authority says European regulators need to pay higher salaries if they hope to attract staff with the necessary expertise.

It has been a bad start to the week on the Australian share market, after falls on Wall Street on Friday.

NYSE Euronext reported that EPS doubled to 59 US cents in the fourth quarter from 29 cents a year earlier as volatility on its financial markets continued to lift revenues and as the company implemented cost cuts.

European and most Asian stock markets bounced back Tuesday, after Monday's sharp drop.

The leaders of Britain, France, Germany and Italy plus the European Commission will meet in London on Tuesday to discuss how to respond to recent turmoil on global financial markets.

The European Union's top economic official has blamed the current turmoil in global stock markets on major imbalances in the U.S. economy.

The U.S. central bank has slashed a key interest rate amid continued global market upheaval sparked by fears of a possible U.S. recession. VOA's Michael Bowman reports, the move came as the Bush administration renewed calls for a swift economic-stimulus package to spur growth.

There are growing fears that the world is headed for a major credit crash because of Enron-style behaviour by the world's biggest investment banks.

US Federal Reserve chairman Ben Bernanke says he sees a high degree of uncertainty in the US economic outlook, but is worried that strains in financial markets may lead to broader problems.

Financial markets are once more abuzz with talk that US interest rates might be lowered again as Wall Street rebounded after a disappointing spell.

As consumer confidence slipped in France, one of Europe's largest economies, euro fell against dollar Thursday.

After enjoying its biggest one-day rise in 11 weeks yesterday, the Australian share market lost some ground today. News that the subprime mortgage crisis could further affect earnings for some US financial companies caused a negative response on Wall Street and this sentiment flowed through to local stocks.