Portugal's recession will deepen this year under the weight of austerity measures meant to reduce public debt, the bailed-out country's central bank predicted Tuesday. Portugal is trying to free itself from a huge debt burden that forced it to ask for a €78 billion ($100 billion) financial rescue package last year to avoid bankruptcy. Read More

EU foreign ministers failed Thursday to reach an agreement to impose an oil embargo against Iran — a measure that some argued would have choked off funding for Iran's alleged program to develop nuclear weapons. But the ministers, incensed by the attack Tuesday by an angry mob on the British embassy in Tehran, did impose a new round of sanctions targeting dozens of people, groups and businesses in the country. Read More