McDonald’s closes in Iceland as currency collapse takes a bite out of Big Mac profits

Iceland says goodbye to the Big Mac

REYKJAVIK, Iceland — The Big Mac, long a symbol of globalization, has become the latest victim of this tiny island nation’s overexposure to the world financial crisis.

Lost in translation: thief nabs Icelandic version of Dan Brown’s new novel

REYKJAVIK, Iceland — Police are looking for someone who might be reading the Icelandic translation of Dan Brown’s new novel, “The Lost Symbol.”

Iceland court lifts gag order after public outrage at efforts to hide losses of huge investors

REYKJAVIK, Iceland — A court in Iceland lifted a gag order Tuesday that allowed Kaupthing Bank to prevent media coverage of a leaked file that discloses details of the bank’s weak position shortly before it collapsed in October.

Iceland says IMF postpones action on $2.1 billion loan and release of Nordic funds

REYKJAVIK, Iceland — Iceland’s government said Friday that the International Monetary Fund has postponed a decision on releasing additional funds for the nation’s economic recovery program.

Iceland’s former 2nd richest man files for bankruptcy; largest in country’s history

REYKJAVIK, Iceland — The second richest man in Icelandic history has filed for bankruptcy, his spokesman said Friday.

Fishing rights is the key issue as Iceland applies to join European Union

STOCKHOLM — Iceland formally applied Thursday to join the European Union but said it would not accept a “rotten deal” for its fishing industry, a key sector of the island nation’s troubled economy.

Fishing rights key issue as Iceland applies to join European Union

STOCKHOLM — Iceland formally applied Thursday to join the European Union but said it would not accept a “rotten deal” for its fishing industry, a key sector of the island nation’s troubled economy.

Iceland formally applies to join European Union during ceremony in Stockholm

STOCKHOLM — Iceland’s foreign minister on Thursday handed over the country’s application to join the European Union, a move Icelanders hope will bring economic stability.

United flight makes emergency stop in Iceland after smoke comes out of cockpit; no injuries

CHICAGO — Authorities say smoke coming out of the cockpit forced a Chicago-bound United Airlines flight to make an emergency landing at Keflavik International Airport in Iceland.

Iceland announces $2 billion recapitalization of its collapsed banking system

LONDON — Iceland unveiled plans Monday to get its collapsed banking system back on its feet, including a 270 billion krona ($2 billion) recapitalization and the sale of significant equity stakes to creditors.

Iceland’s parliament narrowly votes to apply for European Union membership.

REYKJAVIK, Iceland — Iceland’s parliament voted by a narrow margin Thursday to apply for membership in the European Union, moving to relinquish some of the recession-hit country’s cherished independence in the name of stability.

With economy in ruins, Iceland’s parliament to vote on applying to join European Union

REYKJAVIK, Iceland — Iceland’s buccaneering Viking spirit took a battering last year when the country’s banking sector and currency collapsed and the volcanic island became an early casualty of the global economic crisis.

Iceland’s special investigator says company offices are searched in criminal probe

REYKJAVIK, Iceland — The offices of two companies were searched Tuesday in a criminal investigation related to the collapse of the nation’s banking system, Iceland’s Special Prosecutor said.

Iceland’s special investigator says 2 investment firm offices are searched in criminal probe

Searches at offices of 2 Iceland investment firms

REYKJAVIK, Iceland — Iceland’s special prosecutor says that the offices of two investment firms are being searched in a criminal investigation related to the collapse of the nation’s banking system.

ECB holds steady, keeps its benchmark interest rate at 1 percent

LUXEMBOURG — The European Central Bank left its benchmark interest rate unchanged at 1 percent Thursday, preferring to wait and see if its “spectacular” infusion of credit into the banking system will loosen lending to consumers and businesses in the euro zone’s struggling economy.

Nordic countries agree to $2.5 billion long-term loan for crisis-hit Iceland

LONDON — Denmark, Finland, Sweden and Norway signed loan agreements with Iceland on Wednesday that will provide the struggling nation with $2.5 billion (euro1.8 billion) over the long term.

Mediator says Russian WTO bid likely slowed by new strategy to join with Belarus, Kazakhstan

GENEVA — Russia’s troubled bid to join the World Trade Organization could be set back further by its decision to file a common application with neighbors Kazakhstan and Belarus, a key mediator said Thursday.

Whaling talks ponder compromise deal but breakthrough said to be no closer

LISBON, Portugal — The International Whaling Commission on Monday began discussing a possible compromise deal that would reduce the number of whales killed each year.

Germany lifts freeze on Iceland’s Kaupthing Bank accounts; payments to restart this week

BERLIN — Germany’s financial regulator has lifted a freeze on accounts at the German branch of Iceland’s Kaupthing Bank enacted last year to keep it from collapsing.

Cross-party committee of lawmakers criticizes UK government for spat with Iceland

LONDON — An influential committee of cross-party lawmakers criticized the British government on Friday for its handling of the Icelandic banking crisis, when the Treasury froze assets using anti-terrorist law, prompting a diplomatic spat between the two countries.

EU leaders strike draft deal on financial oversight reform, bow to British fears

BRUSSELS — European Union leaders agreed Thursday that new EU financial oversight agencies could overrule national regulators as a last resort — but soothed British fears by saying they shouldn’t order them to use taxpayers’ money to bail out banks, diplomats said.

British fears of more EU oversight cloud financial supervision overhaul at EU leaders’ talks

BRUSSELS — British fears of tighter EU financial supervision may push European Union leaders to avoid key decisions on a planned regulation overhaul at a two-day summit starting Thursday.

UK government secures repayment from Iceland over collapsed bank

LONDON — Iceland will reimburse the British and Dutch governments for compensation paid out to depositors of the failed Icesave Internet bank, the British Treasury said Saturday.

Iceland’s central bank lowers interest rates by 1 percentage point to 12 percent

LONDON — Iceland’s central bank cut official interest rates by 1 percentage point to 12 percent on Thursday as it attempts to bolster the tiny island nation’s recession-struck economy, defying warnings against further trims from the International Monetary Fund.

Finland calls for joint Nordic membership in G-20, more say in international affairs

HELSINKI — The five Nordic countries should have more say in international affairs, including a joint seat in the Group of 20, Finnish Prime Minister Matti Vanhanen said Thursday.

Iceland’s new government says it will ask parliament to vote on starting EU membership talks

REYKJAVIK, Iceland — Iceland’s new government said Sunday it will ask parliament to vote on whether the recession-hit country should start membership talks with the European Union.

Iceland’s central bank lowers interest rates by 2.5 percentage points to 13 percent

LONDON — Iceland’s central bank has cut official interest rates by 2.5 percentage points to 13 percent to help the country’s troubled economy.

Iceland’s leftist coalition win election in strong blow for pro-business Independence Party

REYKJAVIK — Iceland’s leftist coalition was confirmed on Sunday as the winner of the country’s general election — a blow for the pro-business Independence Party that many blamed for the collapse of the country’s banking system.

Iceland’s Social Democrats win most votes in election, but promise coalition government

REYKJAVIK, Iceland — Official results from Iceland’s general elections show the Social Democrats won the most votes.

Preliminary results indicate victory for Iceland’s leftwing government in general election

REYKJAVIK — Iceland’s leftist government was headed Saturday for a strong victory in the country’s general election, a rejection of the pro-business Independence Party that ran the government last fall when the banking system failed, preliminary results show.