Italy faces bond sale test after Moody's downgrade

MILAN (Reuters) - Italy's auction of up to 5.25 billion euros in bonds on Friday looks altogether more testing after Moody's cut its rating on the euro zone's third-largest economy to just two notches above junk status.

'China fund' turns to Japan amid Europe fears

Europe's financial turmoil has seen the Chinese government quietly pour tens of billions of dollars into Japan's stock market, analysts say, despite the neighbours' lingering historical animosity.

Germany, France, Italy, Spain vow billions to boost growth

ROME: The leaders of the eurozone's four biggest economies on Friday vowed measures to boost growth in the face of a relentless debt crisis, including an injection of up to 130 billion euros ($163 billion).

Norway sovereign wealth fund loses $15 bn in 2011

Norway's sovereign wealth fund lost $15 billion last year as European stock prices fell over uncertain growth prospects amid the debt crisis, the country's central bank said Friday.

German lawmakers approve new Greek bailout

The German parliament approved a second, 130 billion ($173 billion) loan package for Greece on Monday after Chancellor Angela Merkel warned lawmakers that it would be irresponsible to abandon the country to bankruptcy.

China's CIC brushes aside Merkel investment plea

(Reuters) - The head of China's $410 billion sovereign wealth fund CIC brushed aside a call by German Chancellor Angela Merkel to buy European government debt, saying such investments were "difficult" for long-term investors.