Dubai struggles to ease debt default fears

Dubai struggled to ease fears of debt default on Thursday after its move to delay repayments at two flagship firms shook confidence in the Middle East as a centre for investment and a source of capital.

World markets get another lift from US earnings

European stocks closed higher on Tuesday after more strong US corporate earnings and indications from US Federal Reserve chairman Ben Bernanke that borrowing costs will remain at record lows for some time to come.