A look at economic developments around the globe

A look at economic developments and activity in major stock markets around the world Thursday:

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ATHENS, Greece -- Talks on new austerity measures required to keep Greece from defaulting on its debts are close to conclusion, a European official said. A report from the negotiations will determine whether Greece gets the next installment of its existing rescue loan as well as a potential second bailout to cover its finances through 2013.

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FRANKFURT, Germany -- The head of the European Central Bank pressed for tighter EU control over national governments' spending, in order to strengthen the currency union against future crises. It even proposed creating a single finance ministry for the 17-nation bloc.

Jean-Claude Trichet proposed allowing European Union officials to make spending decisions for financially troubled countries if -- like Greece -- they have already been bailed out and are failing to make progress on reducing their deficits.

With the debt crisis testing the eurozone's integrity, Trichet suggested the only way forward was closer union of economic policies between the euro countries. He even suggested that the eurozone could in years to come have its own supra-national finance ministry.

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LONDON -- Scientists blamed Europe's worst recorded food-poisoning outbreak on a "super-toxic" strain of E. coli bacteria that may be brand new.

But while suspicion has fallen on raw tomatoes, cucumbers and lettuce as the source of the germ, researchers have been unable to pinpoint the food responsible for the frightening illness, which has killed at least 18 people, sickened more than 1,600 and spread to least 10 European countries.

An alarmingly large number of victims -- about 500 -- have developed kidney complications that can be deadly.

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WASHINGTON -- Secretary of State Hillary Rodham Clinton says that Google's allegations of Chinese hacking of its email system are "very serious" and will be investigated by the FBI.

Clinton told reporters that the Obama administration was disturbed by the charges, which the Internet company says include breaches of email accounts belonging to senior U.S. officials.

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LONDON -- Mounting concerns over the state of the U.S. economy, political uncertainty in Japan and Greece's debt crisis weighed on stock markets in Europe and Asia.

A day after falling sharply, stocks in Europe fell again. The FTSE 100 index of leading British shares closed down 1.4 percent, Germany's DAX slumped 2.0 percent and the CAC-40 in France ended 1.9 percent lower.

Earlier in Asia, much of the attention centered on developments in Tokyo, where the country's Prime Minister Naoto Kan faced a no-confidence motion over his handling of Japan's triple disasters. Though he won the vote, analysts said his victory could prove short-lived -- Kan said he is willing to resign once the country's recovery kicks in.

Japan's Nikkei 225 fell 1.7 percent as the leadership crisis hurt investor confidence.

Stock markets all over the region ended lower. South Korea's Kospi index fell 1.3 percent, Australia's S&P/ASX 200 index shed 2.2 percent, Hong Kong's Hang Seng index fell 1.6 percent, while mainland China's benchmark Shanghai Composite Index dropped 1.4 percent.

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HONG KONG -- Luggage company Samsonite International S.A. plans to raise up to $1.5 billion in a Hong Kong initial public offering, joining a slew of foreign companies cashing in on investor interest in China.

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SINGAPORE -- German Chancellor Angela Merkel says she supports French Finance Minister Christine Lagarde to be the next head of the International Monetary Fund.

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MADRID -- The number of people in Spain filing claims for unemployment benefits dropped in May by about 80,000, the second monthly decline in a row and a sign that the eurozone's fourth-largest economy finally may be enjoying the fruits of economic recovery.

Meanwhile, Spain's prime minister said the country was on target to meet its deficit reduction commitments and that it aimed to build on a slight positive trend in the labor market into next year.

Spain has tasked itself with slashing the deficit from 11.2 percent of GDP in 2009 to within the European Union limit of 3 percent by 2013. Its objective this year is 6 percent.

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SEOUL, South Korea -- South Korea's foreign reserves declined in May as the country's buffer against potential financial turmoil ended a streak of four straight record highs.

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RIO DE JANEIRO -- President Dilma Rousseff launched an ambitious program that aims to eradicate the entrenched poverty that continues to afflict millions of Brazilians even as the rest of the country has benefited from strong economic growth.

The "Brazil without Poverty" plan targets the more than 16 million people, or 8.5 percent of the population, that are estimated to live in extreme poverty, earning the equivalent of $44 a month or less.

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ROZNA MINE, Czech Republic -- Deep beneath lush countryside, large pneumatic drills smash rock in search of uranium. An industry once associated here with forced labor, tragic deaths and terminal decline is staging a dramatic comeback.

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BANGKOK -- The head of Thailand's stock market watchdog agency resigned after he was accused of being involved in a takeover attempt of a listed company. The Securities and Exchange Commission said Chairman Vijit Supinit's resignation would be effective Friday. No reason was given. His term as SEC chief was due to end next month.

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AMMAN, Jordan -- Jordan's finance minister says Saudi Arabia has donated $400 million to shore up his nation's wobbly economy. Jordan has a record deficit of $2 billion this year, which could endanger reform plans.