UK officials are expected to recommend a new, tougher media regulatory body following a series of phone-hacking, bribery, and data theft abuses by the country's newspapers.
While most EU governments have been forced to freeze or cut their spending drastically, the European Commission is asking for a six percent budget increase.
Ford has announced the closure of its last vehicle manufacturing plant in the UK. The company is reportedly shutting down a van factory and shifting production to Turkey.
The Federal Reserve has upgraded its forecast for the U.S. economy in 2012 but also downgraded its outlooks for 2013 and 2014. There are worries the U.S. could fall back into recession just like the U.K. did.