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Some unexpected positive news for euro zone and some expected negative news, as well, today.

The OECD has broken ranks with the IMF and the European Commission and predicted that the euro zone economy will avoid recession and grow a fraction this year, reports the FT.


Italian hostage Claudio Colangelo released in India

Claudio Colangelo, who had travelled from Italy to visit the region, said his captivity had been difficult but that he had been treated well and hoped his companion, Paolo Bosusco, would also be freed soon.

Costa Concordia: five more bodies found in wreck

The bodies were reportedly found in a small space outside the ship, between the wreck and the seabed. 

Nigeria kidnap 'mastermind' dies in custody

Abu Mohammed died of “severe bullet wounds” sustained when he was arrested in the town of Zaria along with five other suspects on March 7.

Carnival Cruises profits sink after string of accidents

Carnival Corp. said on Friday that its 2012 earnings would likely be down 82 per cent because of recent disasters that beset the world's largest cruise line.

Tensions between Italy and Britain over failed hostage rescue attempt

British raid in Nigeria led to deaths of two hostages held for more than nine months by Boko Haram
Nigerian hostageEnlarge
Briton Chris McManus, who was killed yesterday in Nigeria when British Special Forces tried to rescue him from his captors. (-/AFP/Getty Images)

Success has many fathers, but failure?

Yesterday's failed attempt by British Special Forces to rescue a pair of British and Italian men held hostage by Nigeria's Islamist Boko Haram for the last nine months has led to diplomatic repercussions.

Italian President Giorgio Napolitano has expressed genuine anger at not being informed about the raid in advance. "The way the British government has behaved is quite inexplicable. To have failed to inform or consult Italy, with regard to a military action which could have such consequences," Napolitano said.


Italy: UK failure to notify Rome before Nigeria hostage bid 'inexplicable'

Construction engineers Franco Lamolinara and Chris McManus, who were kidnapped in the town of Birnin Kebbi in May 2011, died in an attempted rescue bid by UK Special Forces and the Nigerian military on Thursday.

India and Italy seek to 'clear air' over fishermen's deaths

Two Italian marines employed to provide security on an oil tanker are being held in the southern city of Kochi while they are investigated for murder in India, after firing on a trawler off the coast of Kerala ten days ago, killing two fishermen.
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