AP - German consumer confidence has defied the country's slide into recession to show another small improvement, as falling fuel prices and an industrial wage deal help boost workers' income outlook, a survey found Tuesday.

AP - Mortgage lending in Britain has more than halved over the past year, according to the British Banker's Association — further evidence that the economic downturn is dramatically hurting the country's property market.

AP - The euro gained a little ground on the dollar Tuesday as a survey showed German consumer confidence improving slightly despite the wider economic gloom.

AP - The U.S. dollar was mostly higher against other major currencies in European trading Tuesday morning. Gold fell.

AP - Royal Philips Electronics NV said Tuesday it plans to cut 1,600 jobs at its health care division in response to a global economic slowdown.

AP - French tire maker Michelin said Tuesday it will temporarily close its Romanian factories until further notice due to a drop in demand for tires amid the global economic crisis.

AP - Serbia's currency on Tuesday dropped to its lowest this year despite repeated central bank interventions to support it on foreign exchange markets.

AP - President Nicolas Sarkozy said Tuesday he would announce a 'rather massive' plan in the coming days to support the automobile and building industries, victims of the economic crisis.

AP - Shares in French insurance giant Axa plummeted Tuesday after it warned profits would drop this year on higher costs related to the financial crisis, and called its long-term planning 'increasingly obsolete.'

AP - The head of Daimler AG's truck business said it does not plan to cut working hours at its German plants in the immediate future, despite the economic downturn, but would not rule out further savings in the United States.

AP - Shares in French insurance giant Axa slid Tuesday after it warned profits would drop this year on higher costs related to the financial crisis, and called its long-term planning 'increasingly obsolete.'

AP - Sportscar maker Porsche SE said Tuesday it would curb production as a result of weaker sales amid the global economic crisis.

AP - The U.S. dollar was lower against other major currencies in European trading Tuesday afternoon. Gold fell.

AFP - EU governments should launch a 'significant' two-year stimulus campaign to jolt their embattled economies out of recession, according to draft proposals the European Commission is to unveil Wednesday.

AP - Europe's space agency on Tuesday began mapping out how to share the cost of an ambitious slate of future missions, including a robotic Mars rover and satellites for monitoring climate change.