Virgin on Friday took full control of budget carrier Tigerair Australia, buying the remaining 40 percent it did not already own for Aus$1 (88 U.S. cents) from its Singapore-listed parent.

The deal was revealed as it was announced that Singapore Airlines (SIA) would take majority control of Tiger Airways -- of which Tigerair Australia was a subsidiary -- as part of a turnaround plan for the loss-making budget firm.

Cyprus' finance minister says the bailed-out country will manage to keep its debt well below projections by its international creditors.

Harris Georgiades says debt will peak this year at 105 percent of gross domestic product and will show a modest 2-percentage-point drop in 2015.

Google said Thursday its profit in the past quarter dipped slightly from a year earlier, even as revenues for the technology giant showed a sharp increase.

Net third quarter profit fell five percent from the same period a year ago to $2.8 billion, while revenue grew 20 percent to $16.5 billion.

A sudden plunge in the price of oil is sending economic and political shockwaves around the world. Oil exporting countries are bracing for potentially crippling budget shortfalls and importing nations are benefiting from the lowest prices in four years.

The global price of oil is $84 per barrel, down $31, or 27 percent, from its high point for the year. Oil consumption globally is 91 million barrels per day. That means the world's oil producing countries and companies are bringing in as much as $2.8 billion less in revenue every day — and consumers, shippers and airlines are saving a comparable amount on gasoline, diesel and jet fuel.

Setbacks for recovery of the eurozone economy are affecting Switzerland which cut its own growth forecasts on Thursday.

The national statistics agency cut its growth outlook for 2014 from 2.0 to 1.8 percent.

German Chancellor Angela Merkel said on Thursday she was confident that the European Union would enforce its own budget rulebook with debt sinners, as France faced a reckoning in Brussels.

Speaking to parliament, Merkel noted the entire EU had signed up to the Stability and Growth Pact regulating fiscal discipline.

China's banks stepped up their lending in September, the central bank announced Thursday, but analysts said more monetary easing was needed to bolster the weakening economy.

Domestic banks extended 857.2 billion yuan ($139.9 billion) in new loans, the People's Bank of China (PBoC) said in a statement, up more than a fifth from the 702.5 billion yuan lent in August.

France on Wednesday announced major cuts in defense spending, including the scrapping of an artillery regiment and the loss of 7,500 jobs, as the country battles a ballooning budget deficit.

"In 2015, 7,500 jobs will be cut. The defense ministry will take part in the nation's efforts to improve its budgetary position," Defense Minister Jean-Yves Le Drian said

European giant Airbus said Wednesday it had signed a draft deal to sell 250 of its next-generation A320neo planes to India's IndiGo, in what could be its biggest contract ever in terms of aircraft numbers.

The low-cost Indian operator is already a loyal Airbus customer, having previously ordered 280 planes from the European firm, and the latest agreement is worth around $25 billion (20 billion euros) at list prices.

Money is now only a tweet away for French people, after a bank in the country on Tuesday launched a novel way to transfer money on the social networking platform.

Twitter users can link their accounts to the BPCE banking group's money-sharing application S-Money and fire off a tweet tagging the person they want to receive the money with the amount and hashtag #envoyer (send).