Deal is far off, but Greece, creditors open to compromise

Signs that Greece and its European creditors are open to compromise boosted market hopes on Friday that the sides can reach a deal to save the country from bankruptcy. But any agreement will likely take time, with both sides pressing hard for concessions.

After a turbulent week, in which investors feared Athens’ demands to rewrite its bailout terms would result in an impasse that could push Greece out of the euro, markets were reassured by leaders’ promises to talk.

U.S. OKs imports from Cuba’s small, private business sector

The Obama administration is announcing that it will allow Cuba’s small, private business sector to sell goods to the United States in a potentially important loosening of the half-century trade embargo on the communist island.

A list published by the U.S. State Department Friday said Americans will be allowed to import anything produced by Cuban entrepreneurs with the exception of food and agricultural products, alcohol, minerals, chemicals, textiles, machinery, vehicles, arms and ammunition.

After 2012 shipwreck, Costa may want to cut ties to Italy

Italian cruise company Costa Crociere is facing a public relations battle over its future in Italy amid concerns the company wants to distance itself from the country after the deadly 2012 shipwreck of the Costa Concordia.

Costa, which is owned by U.S. company Carnival, has been based in the Italian port city of Genoa since 1854, but its CEO Michael Thamm has announced some operations will move abroad, to Germany.

— From staff and news services