Frankfurt - The European Central Bank (ECB) lowered its key interest rate by half a percentage point on Thursday, underscoring efforts to combat the recession gripping countries in the eurozone.

The reduction of the benchmark refinancing rate to 2 per cent came amid a slowdown in inflation and a flood of gloomy economic data in what is shaping up to be a tough economic year.

Hanover, Germany - In a sign of strain, Continental, the German supplier of tyres and electronic components to the car industry, is contemplating a 1-billion-euro
(1.3-billion-dollar) equity issue, a spokeswoman said Thursday in Hanover.

She was confirming remarks by chief financial officer Alan Hippe outside an investors conference in New York.

Hippe warned it was possible Continental might have to write down the value of companies it has acquired by up to 1 billion euros.

The spokeswoman said an issue of new shares on the same scale was being propounded as a solution.

Leipzig, Germany - Furniture designs from the short but fruitful career of Joe Colombo (1930-71) are the focus of a special exhibition to open April 3 at the Grassi Museum in Leipzig, Germany.

The Italian was initially a painter and sculptor, coming late to design, only to die of heart failure on his 41st birthday, but he is famed for the Boby Trolley, a small chest of swing-out drawers on five castors which can be easily moved around office desks.

Hamburg - Toyota unveiled its 2009 Formula One car on Thursday - not in a typical race track rollout in front of the world media but via the internet in these hard economic times.

"Our target this year is to fight to win the first race for Toyota in Formula One," team boss Tadashi Yamashina said.

The team is upbeat that it will be competitive despite several rule changes imposed by the ruling body FIA. Some are visible on the car through a wider front wing and a slimmer and higher rear wing.

Berlin - The leaders of Germany and Britain called for urgent action Thursday to end the hostilities in the Gaza Strip.

Chancellor Angela Merkel and Prime Minister Gordon Brown said they would support moves designed to stop the flow of arms to Gaza and ease the humanitarian situation there.

Speaking after talks in Berlin, they also promised to provide technical assistance to shore up security along Gaza's borders.

The two leaders also called on Ukraine and Russia to resolve their political differences so that gas supplies could be resumed to Europe.

They also pledged to work closely with the incoming US administration of president-elect Barack Obama in order to help the world overcome the current economic crisis.

Hamburg - Bundesliga leaders TSG Hoffenheim could be without Vedad Ibisevic for several months as the league top scorer has likely partly ruptured the cruciate knee ligament.

Ibisevic was due to return to Germany on Thursday for thorough medical examinations from a training camp in Spain where he sustained the injury the previous day during a tune-up match with SV Hamburg.

"The first examinations indicate that the front right cruciate ligament is partly torn," Hoffenheim coach Ralf Rangnick told reporters on Wednesday night.