Photo

Vice-principal of South Korea school in ferry disaster commits suicide

3:00pm BST

MOKPO/JINDO, South Korea - The vice-principal of a South Korean high school who accompanied hundreds of pupils on a ferry that capsized has committed suicide, police said on Friday, as hopes faded of finding any of the 274 missing alive. | Video

Powerful earthquake rattles Mexico, shakes buildings

4:42pm BST

MEXICO CITY - A powerful earthquake struck Mexico on Friday, shaking buildings in the capital and sending people running out into the street, although there were no early reports of major damage.

Photo

Libyan kidnappers of Tunisian diplomat demand Islamists' release

12:57pm BST

TUNIS - Libyan militants who kidnapped a Tunisian diplomat in Tripoli on Thursday have demanded the release of Islamist fighters detained in Tunisia, its foreign minister said.

Photo

Indonesia's ex-general Prabowo edges closer to presidential race

12:25pm BST

JAKARTA - Former general Prabowo Subianto, who has struggled to shake off accusations of human rights abuses, received the backing of Indonesia's oldest Islamic party on Friday, bringing him close to being able to run in the July 9 presidential election.

Photo

Nobel winner Garcia Marquez, master of magical realism, dies at 87

6:50am BST

MEXICO CITY - Gabriel Garcia Marquez, the Colombian author whose beguiling stories of love and longing brought Latin America to life for millions of readers and put magical realism on the literary map, died on Thursday. He was 87. | Video

Photo

Analysis - GM could benefit, too, from an ignition-switch victims fund

12:04pm BST

- If General Motors Co creates a fund to compensate victims of its faulty ignition switches, an option that a top legal adviser suggested it is exploring, the company could give up strong defences to a wave of lawsuits. But it could stand to gain even more.

Edward Hadas

Don’t bother with share-based pay

Coca-Cola’s controversial share award scheme takes a bad idea to a foolish extreme. Paying workers in their employer’s paper makes no sense. The share price has too little to do with corporate performance, and the work of any single employee has little effect on the share price.  Commentary 

Dominic Elliott

Credit Suisse still firing on one cylinder

Credit Suisse's private banking arm is pulling in more money. But an 11 percent year-on-year dip in quarterly investment banking revenue suggests the Swiss bank's other main engine isn’t motoring. Paring back further in fixed income would be one way to get things moving.  Commentary 

Hugo Dixon

How Greece can turn vice to virtue

The vicious cycle of two years ago is turning virtuous – see Athens' return to the bond market last week. More can be done to maintain momentum, especially rooting out vested interests. As ever, the weak spot is politics.  Commentary 

Nicholas Wapshott

The EU-U.S. love-hate relationship

While the Americans were funding and fixing the world economy, the Europeans decided to belatedly address their under-regulated banking and financial sectors and reform their overly generous labour laws and welfare arrangements funded by high public borrowing they wrongly blamed for the Great Recession.  Commentary 

Julian Hunt and Amy Stidworthy

How cities can help protect citizens from air pollution

When the Saharan dust hit London earlier this month, just as with the smog of the 1950s and of Dickens’s day, the cloud of dust particles was dense enough that less sunlight made it through to ground level. While forecasts and public warnings for such events exist, the experience demonstrated that they need to be related more precisely to health impacts.  Commentary 

Anatole Kaletsky

Behind Wall Street's anxiety

Stock market gains in the next few years are likely to be driven by very different companies than the leaders of the past five years. The bad news for investors is that these leadership rotations generally coincide with temporary market setbacks, since the old leaders tend to retreat faster than the laggards advance.   Commentary