American Aries Merritt set a new world record of 12.80 seconds in the 110m hurdles at the Diamond League meet here on Friday.

Merritt smashed the previous record of 12.87sec set by Cuban Dayron Roble

Rating agency Standard & Poor's cut ArcelorMittal's long-term debt to junk status on Thursday and said uncertainty about the debt reduction plans of the world's largest steelmaker and a weak sector ou

ArcelorMittal, the world's largest steelmaker, forecast tough market conditions would continue into the second half of the year, particularly in Europe, after a divestment gain swelled second-quarter

Eurozone leaders agreed on Friday to take emergency action to bring down Italy's and Spain's spiralling borrowing costs and to create a single supervisory body for eurozone banks by the end of 2012, a

French President Francois Hollande and Spanish Prime Minister Mariano Rajoy jumped on a train to travel from Paris to Brussels for an EU summit on Wednesday, their entourages said.

The two leaders,

Working almost to exhaustion and persuading countries one by one, European leaders agreed on Friday to redefine their continent — hoping that by joining their fiscal fortunes they might stop a crippli

Europe divided on Friday in a historic rift over building a fiscal union to preserve the euro, with a large majority of countries led by Germany and France agreeing to move ahead with a separate treat

NATO and Russia began a fresh push on Thursday to resolve a deep rift over a European missile shield with the alliance chief insisting again that it was not pointed at Moscow.

NATO foreign ministers

The European Union may approve fresh sanctions against Iran within weeks, after a U.N. agency said Tehran had worked to design nuclear bombs, EU diplomats said on Thursday.

Iran denies trying to buil

German and French officials have discussed plans for a radical overhaul of the European Union that would involve setting up a more integrated and potentially smaller euro zone, EU sources say.

"Franc