Asian shares fall after European election results

Asian markets have dropped on fears that the eurozone may rein in austerity measures that many see as key to solving the region's debt crisis.

UN Security Council prods Sudan and South Sudan back to talks

The United Nations Security Council has voted to impose economic sanctions on Sudan and South Sudan if the two countries don’t cease their fighting immediately and go back to the negotiating table to settle their disputes over territory and oil revenues.

Roubini: Iran is the greatest looming threat

LOS ANGELES (CNNMoney) -- Nouriel Roubini gives an audience no shortage of scenarios to keep them up at night, but his number one worry right now is the looming threat of Iran building nuclear weapons.

Japan urges Israel 'patience' on Iran sanctions

JERUSALEM: Japan's Foreign Minister Koichiro Gemba has urged Israel to exercise "patience" on Iran's nuclear programme and give sanctions a chance to work, his spokesman said on Wednesday.

China, Russia resist West's sanctions push for Sudan, South Sudan

(Reuters) - China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions if the two countries fail to comply with demands to halt their escalating conflict, U.N. envoys said.

Obama affirms strong economic, security ties with Japan

Washington (CNN) -- Affirming strong ties in a time of challenges, President Barack Obama and visiting Japanese Prime Minister Yoshihiko Noda on Monday hailed an agreement to move U.S. Marines from Okinawa and expressed solidarity against North Korea's nuclear weapons program.

Slowing US consumer spending points to economic slowdown

A modest increase in US consumer spending last month signalled the world's largest economy may struggle to accelerate this quarter.