Moody's put Russia's credit rating on review for a possible downgrade Friday, saying the Ukraine crisis could exacerbate its already troubled economy.

The ratings agency's Investor Service said that if the review confirms that Russia's economic strength is being eroded by the situation, it could lead to a one-notch cut in the country's Baa1 rating.

General Motors recalled nearly 1.5 million vehicles on Friday including for possible problems with ignitions blamed for 12 deaths.

Last month, GM called back 1.6 million cars amid questions over why it had taken years to address an ignition defect it knew about as early as 2001.

The world's richest countries will borrow less from the market this year than at any time since 2007, the OECD said Friday, as governments tighten their belts in the wake of the debt crisis.

The Organisation for Economic Cooperation and Development estimated that the net new borrowing needs of its 34 member countries would fall to $1.5 trillion (1.09 trillion euros) this year.

There is "no sensible alternative" to Russian gas to meet Europe's energy needs, German Economy Minister Sigmar Gabriel said on Friday.

Many people acted as if there plenty of other sources from which Europe could draw its gas, but this is not the case, Gabriel told a energy forum organised by the local daily Neue Osnabruecker Zeitung on Thursday.

Spain reported Friday its first fall in consumer prices in more than four years, feeding fears that the eurozone could fall into the grip of a deflationary spiral.

Consumer prices fell at annual rate of 0.2 percent in March after crawling 0.1-percent higher the previous month, the National Statistics Office said in a preliminary report that surprised market analysts.

French gas group GDF Suez revealed on Friday a giant deal, the first of its kind, to ship liquefied natural gas from the United States to supply Taiwan.

The contract, of undisclosed value, will include natural gas from shale production, and is a sign of huge changes in global energy markets driven largely by the shale energy revolution in North America.

Jean-Romain Beltinor plunged a hoe into the rocky dirt on his parched hillside to prepare for planting seeds he does not have.

After months of drought in northwest Haiti, the subsistence farmer struggles to find food for his 13 children. To earn a little money, he must turn to work that only makes things worse, cutting what little wood remains for charcoal.

The International Monetary Fund announced on Thursday a $14-$18 billion bailout for Ukraine to avert bankruptcy for the crisis-hit country amid its escalating standoff with Russia.

The agreement in principle, worth the equivalent of 10.8-13.1 billion euros, is tied to tough reform conditions which will have a big impact on the Ukrainian economy and people.

Air passengers in Germany faced delays, disruption and hundreds of flight cancellations across the country Thursday as ground staff, baggage handlers and maintenance workers walked out over pay.

Lufthansa, Germany's biggest airline and hardest hit by the strike, on Wednesday announced that it would cancel around 600 of its European and domestic flights until 2:00 pm (1300 GMT).

A major Chinese tour operator is breaking ties and canceling bookings with Malaysia Airlines while another is seeing country reservations drop as travelers grow wary after Flight MH370's disappearance, state media reported Thursday.

China Youth Travel Service said it will suspend new bookings with the airline and change currently booked itineraries that include the carrier to alternative firms, the state-run China Daily newspaper said, quoting a statement by the agency which was founded by the Youth League of the ruling Communist Party.