The Palestinian Authority government in the West Bank is facing its "worst financial crisis" since its 1994 establishment, the Palestinian labor minister told Agence France Presse on Sunday.

Ahmed Majdalani warned that a shortfall in the delivery of aid from Arab donor nations means the PA will be unable to pay employees their July salaries or pay off debts it owes to private businesses across the West Bank.

A European Union embargo on Iranian oil went into effect on Sunday, provoking anger in Tehran which says the measure will hurt talks with world powers over its sensitive nuclear activities.

Oil Minister Rostam Qasemi sought to downplay the embargo as just the latest punishment in decades of ineffective sanctions.

Sanctions-hit Iran on Saturday called for OPEC to hold an extraordinary meeting to rein in output going over its agreed total quota because oil prices have dipped to a "critical level" under $100 a barrel.

"We have asked the secretary general to set up an extraordinary meeting as prices have become irrational," Iranian Oil Minister Rostam Qasemi was quoted as saying on his ministry's official news website Shana.

Toyota on Friday added two models to a controversial 2009 recall launched after floor mats became trapped under the accelerator and were linked to dozens of deaths.

Toyota's mishandling of the initial problem and other reports of sudden, unintended acceleration led to the recall of more than 12 million vehicles worldwide, a U.S. congressional probe, more than $50 million in fines from U.S. regulators and public apologies by its chief.

The World Bank on Friday cancelled a $1.2 billion loan for Bangladesh's Padma bridge project, saying the government had not cooperated in investigating "high level" corruption in the project.

"The World Bank cannot, should not, and will not turn a blind eye to evidence of corruption," it said, announcing the loan was being cancelled immediately.

The German parliament overwhelmingly approved two euro-crisis fighting tools Friday rallying to a call by Chancellor Angela Merkel to show the world Germany's commitment to the single currency.

Hard on the heels of a "breakthrough" EU summit, Merkel dashed back from Brussels to address lawmakers before the Bundestag lower house and Bundesrat upper chamber voted by a two-thirds majority to back new budget rules and a permanent bailout fund.

Pharmaceutical giant Bristol-Myers Squibb announced late Friday that it will purchase diabetes drug maker Amylin Pharmaceuticals, Inc. for about $7 billion.

Under the deal, unanimously approved by the boards of directors of both companies, Bristol-Myers Squibb will pay $31 in cash per Amylin share and assume Amylin's debt and a contractual payment obligation totaling about $1.7 billion, the announcement said.

Britain's financial regulator on Friday said it had ordered the country's major banks, including HSBC and Barclays, to compensate businesses for "serious failings" over the sale of complex products.

The Financial Services Authority (FSA) said it had reached agreement with Barclays, HSBC, Lloyds and Royal Bank of Scotland "to provide appropriate redress" for mis-selling interest rate hedging products.

Moody's on Thursday cut its credit grades for eight Brazilian banks, saying they should not be rated significantly higher than the government in a global environment that has governments backstopping financial institutions.

The banks' "standalone financial strength ratings" fell by one to three notches, mostly to line up at or just one level above Moody's Baa2 rating for Brazil.

Nissan will hire another 1,000 workers at its Mississippi plant as it expands production in the United States, the Japanese automaker said Thursday.

The new hires will bring the plant's workforce to 4,500 people by the end of the year as Nissan adds its Sentra compact car, Frontier pickup truck and Xterra sport utility vehicle to the assembly line.