The euro recovered some ground Thursday, following a major selloff Wednesday, mirroring a fresh burst of confidence in European markets following a strong Spanish debt auction.

Having fallen to as low as US $1.2945 on Wednesday, its lowest level since January 11, the eurozone’s single currency rose 0.2% to US $1.3.

US stock markets were also poised to gain ground on Wall Street after falling to their lowest level in two weeks on Wednesday.

The ease in uncertainty came after the risk premium on benchmark Spanish government bonds decreased after a well-received bond auction. Read more…

Associated Press

WASHINGTON (AP) – Shifting from confrontation to cooperation, congressional leaders expressed optimism Thursday that agreement was near on extending this year’s payroll tax cut, renewing unemployment benefits and averting a federal shutdown.

“We can extend payroll tax relief for American workers and create new jobs and keep the government running and, frankly, we can do it in a bipartisan way,” House Speaker John Boehner, R-Ohio, told s, a turnabout from weeks of partisan sniping from both sides.

“No more show votes,” Boehner said after praising earlier remarks by Senate Majority Leader Harry Reid, D-Nev., that lingering disagreements on a mammoth spending bill could be easily resolved.

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The European Central Bank … making no assurances that it will come to the party.

In the parlance of parenthood, the latest master plan to save Europe from economic annihilation is about the German and French parents imposing boundaries on the poorly behaved smaller children in the European Union.

They set out their parental plan in Brussels at the weekend; a strict set of fiscal parameters all need to abide by.

In theory it sounds fine. The kids can’t spend more than their allocated pocket money and there are penalties for non-compliance.

But re-educating headstrong, profligate European nations that have long done whatever they want might have all manner of problems.

Kids don’t always abide by the rules.

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A bankruptcy judge broadened powers held by the trustee overseeing the EpiCentre as disputes intensified over a range of issues – from alleged self-dealing to claims of blackmail to questions over who owns valuable air rights above the popular complex.

U.S. Bankruptcy Court Judge George Hodges in October appointed Elaine Rudisill to manage the 302,000-square-foot project at the request of the EpiCentre’s lender, Blue Air 2010.

On Thursday, Hodges gave Rudisill full control of the project.

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Forecasters in Japan and South Korea have revised their economic forecasts downward, reflecting the economic slowdown in the West, analysts said.

The central bank in South Korea Friday revised its 2012 growth forecast for South Korea to 3.7 percent from an earlier projection of 4.6 percent, The New York Times reported.

In Japan, revised gross domestic product data indicated the economy grew less than expected during the past quarter. The annual growth was changed from 6 percent to 5.6 percent and the quarterly growth rate was lowered to 1.4 percent from the previous estimate of 1.5 percent.

The worsening economic environment already prompted several rate cuts in the Asia-Pacific region as policy-makers work to buttress their economies, analysts told the Times.

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WORCESTER — For the fifth consecutive year, Bustard’s Christmas Trees has committed to donating 50 trees to the Trees For Troops program.

Jay Bustard — whose family runs the tree farm at 2210 Bustard Road in Worcester — is hoping their customers will be equally generous.

On Saturday and Sunday, from 9 a.m. to 9 p.m., patrons of Bustard’s Christmas Trees will have the opportunity to purchase and donate holiday trees that will be sent to military bases throughout the country and overseas.

In each of the last four years, Bustard’s Christmas Trees has sent between 250 and 260 trees, according to Jay Bustard. He sa

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