European diplomats said seven foreign hostages kidnapped in Nigeria had been killed as claimed by Islamic extremists, the worst such foreign abduction violence to hit the West African nation in decades.

Nigeria’s government and police remained silent today after radical Islamic fighters killed seven foreign hostages.

The incredible rise of Beppe Grillo’s Five-Star Movement in Italy has left the markets in turmoil.

A centre-left group of parties appears to have the best chance at forming a coalition government in Italy after an inconclusive national election, but the challenge is steep and comes amid public anger over austerity measures.

Italy’s cost of borrowing surged yesterday as investors dumped the country’s bonds in the wake of the general election.

Italian elections showed, once again, that Italy is a political mess.

Italy has emerged from elections with no clear winner, driving markets around the world markedly lower as investors worried that one of Europe’s biggest economies would be unable to stay the course on austerity measures.

Italy faced political paralysis today as near-complete election results showed no clear winner and raised the possibility of a hung parliament.

Italy's crucial elections appear to be heading toward deadlock, according to initial results.

Exit polls show Pier Luigi Bersani’s centre-left coalition leading in an Italian election that is testing the country’s resolve to maintain painful economic reforms.

Italians are voting for a second day in a national election which will determine if they are prepared to stay the course of painful economic reform or send a message of discontinuity to the political class that led the country to the brink of disaster by rallying around a protest party.

Italy’s chance of stable government after elections this weekend may rely on forcing two awkward partners into coalition: former European Commissioner Mario Monti and an openly gay leftist he has vowed not to work with.

Italy is going to the polls today and tomorrow for a watershed parliamentary election that could shape the future of one of Europe’s biggest economies.

The president of the European Parliament, Martin Schulz, has warned Italians not to vote for controversial billionaire businessman Silvio Berlusconi.

Media mogul Silvio Berlusconi is promising Italians if they vote him back into office that he will not only abolish an unpopular tax on primary residences, but refund property taxes Premier Mario Monti's government made them pay in 2012.

Former Italian prime minister Silvio Berlusconi praised Benito Mussolini for “having done good” despite the Fascist dictator’s anti-Jewish laws, immediately sparking expressions of outrage as Europe yesterday held Holocaust remembrances.

Former Italian prime minister Silvio Berlusconi has dropped former allies accused of corruption and mafia association as election candidates, in a bid to shed the image of scandal that has dogged sections of his centre-right party.

Italian premier Mario Monti will set the tone for beleaguered business and political leaders gathering in Davos this week for the annual World Economic Forum (WEF), with a speech entitled ‘Leading against the odds’.

Milan court officials have defended the impartiality of their judges after ex-Premier Silvio Berlusconi blamed “feminist, communist” magistrates for a €200,000-a-day divorce settlement.

Former Italian premier Silvio Berlusconi has blamed “feminist, communist” judges for a €200,000-a-day divorce settlement following the break up of his second marriage.

Centre-left leader Pier Luigi Bersani is favourite among Italians to lead the next government, with outgoing technocrat prime minister Mario Monti second most popular and Silvio Berlusconi coming a close third, a poll showed yesterday

Former premier Silvio Berlusconi sharply criticised the decision by Mario Monti to run in Italy’s general elections and vowed to launch a parliamentary inquiry into the 2011 fall of his government and appointment of Monti as Italy’s premier.

Italian premier Mario Monti announced he is heading a new campaign coalition made of up centrists, business leaders and pro-Vatican forces who back his “ethical” vision of politics, aiming for a second mandate in office if his fledging reform movement wins in parliamentary elections.

Italian Premier Mario Monti said today he would not run in February’s elections, but if political parties that back his anti-crisis agenda ask him to head the next government he would consider the offer.

Italian Premier Mario Monti is spurning Silvio Berlusconi’s offer to run on a centre-right ticket backed by the media mogul in February elections.

At the start of the summer, Europe stood at the edge of the abyss.

Prime minister Mario Monti has handed in his resignation to Italy’s president, bringing to a close his 13-month technical government and preparing the country for national elections.

Prime Minister Mario Monti has handed in his resignation to Italy’s president, bringing to a close his 13-month technical government and preparing the country for national elections.

The young Moroccan woman at the centre of Silvio Berlusconi’s sex-for-hire scandal has been fined for failing to appear as a witness twice at the former premier’s trial.

The young Moroccan woman at the centre of Silvio Berlusconi’s sex-for-hire scandal has been fined for failing to appear as a witness twice at the former premier’s trial.

With Mario Monti bowing out after taking some tough austerity measures, Italy is braced for a tough election battle as Silvio Berlusconi re-enters ring, reports John Lloyd

Italian premier Mario Monti has defended his government’s austerity measures as necessary to restore confidence in Italy’s financial future, and warned voters to beware “magic solutions” promised by candidates in upcoming elections.

MARIO Monti, who intends to resign after just over a year as Italy’s prime minister, restored international credibility to his country and dragged it back from the brink of financial collapse.

The positivity of the last week came to a halt today as the Iseq lost 17.68 points to close on 3,330.09.

Milan magistrates have ordered police to search for a Moroccan nightclub dancer at the centre of a sex trial involving Silvio Berlusconi, now seeking a fifth term as prime minister in an election next year, after she failed to show up in court.

Rolls-Royce shares were 2% lower today as investors faced up to more details of the bribery claims relating to contracts in Indonesia.

Mario Monti, the Italian prime minister announced on Saturday that he would resign once the 2013 budget is approved, potentially bringing forward an election and fuelling speculation that he might run.

Prime minister Mario Monti has told Italy’s president he is resigning because he can no longer govern after Silvio Berlusconi’s party withdrew crucial support.

Italian Premier Mario Monti has told the country’s president that he intends to resign since Silvio Berlusconi withdrew his support for the year-old government of technocrats and intends to quit as soon as Parliament passes critical budget legislation.

Silvio Berlusconi says he’s running to be premier again – for the good of Italy.

Silvio Berlusconi’s People of Freedom party withdrew its support for Italy’s technocrat prime minister Mario Monti, setting up a conflict that could force an early election.

Shoring up Europe's banking sector and strengthening oversight of economic policies are the issues at the top of the agenda during a meeting of EU finance ministers that is expected to expose divisions among the continent's powers.

Italy’s prime minister today pledged not to abandon Afghanistan as his country pulls out its troops, saying Rome will “transform” its support but not leave altogether.

US petrol and heating oil futures gained and US treasuries also rose yesterday, as economic worries over Hurricane Sandy fuelled safe-haven buying in thin trading volume as the powerful storm began to batter the US east coast.