The US government is seeking nearly $3 hundred billion in compensation from the tobacco industry for half a century of deception, that it claims has cost the lives of millions of Americans.

BERLIN (Reuters) - The German finance ministry has said that countries using the euro currency will together provide aid worth between 20 and 25 billion euros ($27.2 and $34 bilion ) for Greece, the German weekly magazine Der Spiegel reported on Saturday.

The number of American borrowers falling behind on their mortgage payments dropped sharply at the end of last year, a sign the foreclosure crisis is beginning to ebb.

A rural town of Markopoulos, 30 kilometers from Athens, has gone from a booming Olympic town to barely surviving in less than five years.

Regulators shut four banks from California to Florida on Friday, boosting to 20 the number of US bank failures this year following the 140 closures last year in the worst financial climate in decades.

Lufthansa has announced it had cancelled two-thirds of its flights from Monday to Thursday because they could be affected by a planned pilots' strike.

Treasurer Wayne Swan has announced the government will withdraw its guarantee for bank deposits and wholesale funding from March 31.

Japanese media sharply criticised Toyota's president for offering a delayed and unconvincing explanation for the massive car recall.

Foil insulation should be immediately withdrawn from the federal government's insulation scheme, the peak body for electricians says.

The number of jobs advertised on the internet in January grew faster than in the previous two Januarys, indicating that employers were feeling more confident, according to the latest Olivier Job Index.