E.U. Approves Dexia Bailout

BRUSSELS — European Union regulators on Friday approved a bailout for the bank Dexia that includes a €5.5 billion capital injection by Belgium and France.

Japan voters back new PM cabinet, economy top priority

TOKYO (Reuters) - More than half of Japanese voters support new Prime Minister Shinzo Abe's cabinet, media surveys published on Friday showed, with the country's stagnant economy topping the list of problems voters want the hawkish new leader to tackle.

Debt Ceiling Nears as Budget Talks Stymied

The Treasury Department said Wednesday the government would hit its legal borrowing limit by Monday, setting in motion emergency measures to keep the government operating for several more weeks and serving as a reminder that the nation's budget wrangling could continue well into 2013.

Economy, Security in Spotlight at Gulf Summit

MANAMA, Bahrain--Representatives of the oil-rich states making up the Gulf Cooperation Council were gathering in Manama on Monday to discuss economic integration and security in the face of growing regional tensions.

UN adds about 5 per cent to budget for 2012-2013

UNITED NATIONS: The UN General Assembly approved an increase of about 5 per cent to cover the United Nations' regular operations in 2012-2013 on Monday evening, raising the two-year budget to about $5.4 billion but delaying action on a key proposal that would allow greater mobility of U.N. staff.

World economy: US runs out of road as fiscal cliff looms

LONDON: The wheels could come off the US economy even before it has shifted out of second gear unless politicians reach a last-minute deal to avoid $600 billion in tax rises and spending cuts that kick in next month.

IMF extends zero interest loans to poor nations

WASHINGTON (Reuters) - Poor countries with loans from the IMF can continue to pay no interest until the end of 2014, the Fund's board said on Friday, as their economies are still recovering from the global economic crisis.

British Commission Says Bank Reforms Don’t Go Far Enough

LONDON — Regulators in Britain should have the power to completely split up banks, a government-commissioned report concluded Friday, adding that changes being currently proposed do not go far enough to prevent a future crisis.

"Fiscal cliff" drag on economy less than feared so far

WASHINGTON (Reuters) - The U.S. economy showed surprising signs of resilience in November despite the approach of the so-called fiscal cliff as consumer spending rose by the most in three years and a gauge of business investment jumped.

Challenging France to Do Business Differently

PARIS — Louis Gallois, one of France’s most influential industrialists, knew he was about to make waves for the country’s Socialist president.

Bank of Canada should raise rates in late 2013: IMF

TORONTO (Reuters) - Canada's economy should start ramping up in the second half of next year following a couple years of sluggish growth, allowing the Bank of Canada to resume raising interest rates by the end of 2013, the International Monetary Fund said on Wednesday.

New-wave economies going for growth

They are big. They have young and growing populations. They have invested in infrastructure and education.

Eyeing growth, France seeks to smooth Algeria ties

PARIS/ALGIERS (Reuters) - President Francois Hollande travels to Algeria on Wednesday to try to heal wounds left by a bloody war of independence half a century ago and to seek greater access to the former colony's oil wealth in an attempt to lift France's own flagging economy.

Spending Probably Rose in U.S., Home Sales Climbed

Consumer spending probably rose in November as Americans set aside the threat of higher taxes next year while shopping for the holidays, economists said before reports this week.

E.C.B. Sees a Healing Euro Zone but Warns of Risks

FRANKFURT — Tensions in the euro zone have eased noticeably since the summer, the European Central Bank said Friday, but it warned that the situation remained fragile in part because commercial banks were still in a weakened state.

UK credit rating threatened with S&P downgrade

George Osborne's economic credibility suffered a fresh blow on Thursday when Standard and Poor's became the third of the major credit ratings agency to put the UK's AAA rating on negative outlook.

China party chief stresses reform, censors relax grasp on internet

BEIJING (Reuters) - China must deepen reforms to perfect its market economy and strengthen rule of law, Communist Party chief Xi Jinping said in southern Guangdong, echoing groundbreaking comments by reformist senior leader Deng Xiaoping in the same province 20 years ago.

Arabs offer Palestinians $100 million a month "financial safety net"

DOHA (Reuters) - Arab states agreed to provide the Palestinian Authority with a $100 million monthly "financial safety net" to help President Mahmoud Abbas's government cope with an economic crisis after the United Nations granted de facto statehood to Palestine

Germany's growth forecast cut by Bundesbank

Germany's central bank, the Bundesbank, has cut its growth forecast for next year, saying the country's economy might be entering a recession.

China to stick with 7.5 percent economic growth target in 2013: ources

BEIJING (Reuters) - China's leaders are likely to stick with the 2012 economic growth target of 7.5 percent when they chart a course for 2013, allowing higher levels of fixed-asset investment to offset weak export demand, sources involved in internal discussions about the plans say.

Euro blueprint gives Brussels economic sovereignty over members

A masterplan for “completion of economic and monetary union” has been set out in a confidential document to be discussed by EU leaders at a Brussels summit next week.

State governors to meet with Obama, Boehner on "fiscal cliff"

(Reuters) - With a few weeks remaining before the onset of "fiscal cliff," a bipartisan delegation of governors is set to meet Tuesday with President Barack Obama and congressional leaders in search of some answers about the impact of deficit reduction measures on their state budgets, which rely heavily on federal aid.

Japan candidates hit streets in first national vote since Fukushima disaster

FUKUSHIMA, Japan (Reuters) - Candidates hit the streets on Tuesday at the official start of a campaign for a parliamentary election that is expected to return the opposition Liberal Democrats to power but risks furthering the policy stalemate plaguing the world's third-biggest economy.

Euro, shares rise on signs of Chinese growth

LONDON (Reuters) - The euro hit a six-week high and shares rose on Monday as signs of quicker Chinese growth boosted investors' risk appetite although gains were capped by U.S. budget worries.

US economy grew at 2.7% rate in summer

WASHINGTON — The U.S. economy grew at a 2.7 percent annual rate from July through September, much faster than first thought.

EU set to make its mind up over trade talks with Japan

(Reuters) - Britain is trying to convince France and Italy to agree to negotiations with Japan to create a free-trade area with the European Union despite concerns that a deal would hurt the continent's weaker carmakers.

Greece hails rebirth of a nation as EU and IMF agree to release loans

After months of drama in the eurozone and its own solvency hanging by a thread, Greece reacted with euphoria on Tuesday at the news that international creditors had decided to not only revitalise its rescue programme, releasing long-overdue aid, but cut €40bn (£32bn) from its debt mountain.

Is Japan really on the brink of a sudden downward spiral?

First Britain was compared to Greece – sunk by debt. Then when the worst of the financial crisis passed and a battered exchequer was still solvent, Britain was likened to another capitalist basket case - Japan.

Euro Chiefs Claim Greek Progress, Seek to Persuade ECB

Euro-area finance ministers will push the International Monetary Fund and central bankers to endorse new plans to save Greece from the fiscal abyss, seeking to overcome the latest impasse in the debt crisis and restart aid payments to Athens.

UK may face deeper government spending cuts -IFS

LONDON (Reuters) -Chancellor George Osborne may have to announce more spending cuts and tear up one of his key austerity goals next month, the Institute for Fiscal Studies said on Monday, warning government borrowing was likely to rise this year.

Canada's third quarter GDP growth seen falling sharply

TORONTO (Reuters) - Canada's economy likely expanded at a disappointing annualized rate of 0.9 percent in the third quarter, hurt by weaker demand for the country's exports and the drag of a rapidly cooling housing market.

Factories post rebound, consumer sentiment shaky

(Reuters) - Manufacturing grew in November at its quickest pace in five months, with a rise in domestic demand hinting that factories could provide a boost to economic growth in the fourth quarter.

China must speed up financial reform to sustain GDP growth: Moody's

BEIJING (Reuters) - China must accelerate the pace of financial reform in coming months to sustain economic growth, ratings agency Moody's Investor Services said, forecasting the world's No. 2 economy will grow 7.5 percent each year from 2012 to 2014.

Spain may miss 2012 budget deficit goal: Bank of Spain

MADRID: The Bank of Spain warned on Wednesday that the recession-hit country could miss its budget deficit target for 2012 given the 'very unfavourable' economic context, one year after it overshot its 2011 target.

Bernanke: 'Stakes are high' on fiscal cliff

NEW YORK (CNNMoney) -- Federal Reserve Chairman Ben Bernanke on Tuesday urged lawmakers to avoid the fiscal cliff by acting as soon as possible.

Putin, Merkel try to ease frosty Germany-Russia ties

(Reuters) - Russian President Vladimir Putin dismissed German criticism of his human rights record on Friday as Chancellor Angela Merkel began a visit to Moscow with a chill descending on relations between the two big European powers.

Geithner Says Budget Deal Is ‘Within Our Grasp’

Treasury Secretary Timothy F. Geithner said he’s confident an agreement on averting the fiscal cliff can be concluded within weeks after White House talks between President Barack Obama and congressional leaders.

Bundesbank: Greece will need haircut, but later

BERLIN (AP) — Greece's creditors will eventually have to write down the value of the country's debt further, but only after Athens has done the hard work of getting its budget into shape and reforming its economy, Germany's top central banker said Friday.

French PM: committed to cutting deficit

BERLIN (AP) — France's prime minister assured a German audience on Thursday that his country is committed to getting its debt under control, amid concerns that the second-largest economy in the 17-country group that uses the euro is weakening.

Barack Obama: US wealthiest must pay more tax

US President Obama has reiterated his call for high earners in the US to pay more in taxes, in his first news conference since winning re-election.

Greece votes on 2013 budget to unlock aid

ATHENS: Greece is expected to approve a 2013 budget on Sunday that includes unpopular spending cuts and tax hikes so it can receive an international aid payment and avoid insolvency.

Hungary PM, lenders at odds about prospects of agreement

BUDAPEST (Reuters) - Hungarian Prime Minister Viktor Orban on Saturday struck an optimistic tone that a financing deal with foreign lenders was within reach, at odds with signals from his negotiating partners that the year-old talks were at a stalemate.

Two million jobless set to lose unemployment benefits

NEW YORK (CNNMoney) -- More than 2 million jobless Americans will lose their federal unemployment insurance during the holidays if Congress doesn't extend the deadline to file for extended benefits.

German risks rift with France over economic healthcheck demands

Germany's finance minister has reportedly asked a panel of top advisers to examine France's economic problems amid concerns that weaknesses could spread to the rest of Europe.

Bank holds interest rate at record low for 44th month

The Bank of England has kept its base rate at a record low of 0.5pc for the 44th consecutive month and decided against extending its quantitative easing programme.

Merkel calls for eurozone countries to surrender key tax-and-spend powers

Angela Merkel has called for the surrender of key national powers over tax-and-spend policies to Brussels by the 17 countries in the eurozone within three years in order to rescue and shore up the embattled single currency.

G20 acknowledges slippage on swaps reform

(Reuters) - International groups tasked with safeguarding the world banking system conceded they would miss a deadline for new rules aimed at limiting risk and boosting transparency in the $648 trillion over-the-counter swaps market.

G20 seeks more wiggle room on austerity pledges

(Reuters) - The world's leading economies will give themselves more wiggle room to meet targets for cutting budget deficits rather than risk aggravating a slowdown in many countries, chief among them the United States.

Australia’s Swan Says G-20 Sees Global Recovery as ‘Fragile’

Australian Treasurer Wayne Swan said most of his Group of 20 counterparts see the global recovery as “fragile” and urged Europe to press on with closer financial integration and the U.S. to cut its budget deficit.

Canadian dollar leaps to 1-week high as U.S. jobs data impresses

TORONTO (Reuters) - The Canadian dollar jumped to a more than one-week high against its U.S. counterpart on Friday and outperformed all other major currencies after data showed U.S. employers stepped up hiring in October.

Jobs Report Shows Persistent Economic Growth

The economy may have some more underlying strength than earlier believed, according to the final job market report released before Tuesday’s presidential election.

US consumer confidence at highest since February 2008

WASHINGTON: Americans' confidence in the economy surged last month to the highest level in nearly five years, as many were encouraged by an improving job market.

G20 told trade, FDI vital to fight global slowdown

GENEVA (Reuters) - The world's leading economies must revitalise both global trade and investment in developing countries to counter a new slowdown in economic growth, three key international organisations said on Wednesday.

Bank of Canada repeats rate message, sees debt slowing

OTTAWA (Reuters) - There are signs that Canada's soaring household debt and its heated housing market - two of the biggest headaches for the country's policymakers - are decelerating, Bank of Canada Governor Mark Carney said on Tuesday.

European Union Exit? Concerns Grow for Britain

LONDON — Is Britain moving inexorably toward the European Union’s exit door?When the European Union unexpectedly won the Nobel Peace Prize this month, the leaders of Germany, France and Italy spoke of their pride.

Barack Obama has no new middle class tax cut plan: White House

ABOARD AIR FORCE ONE: US President Barack Obama will continue to push for middle-class tax cuts as part of his economic agenda, but the White House is not considering a specific new tax cut plan at this time, a spokesman for Obama said on Saturday.

South Africa strikes: Sacked platinum miners reinstated

The world's biggest platinum producer, Anglo American Platinum (Amplats), has agreed to reinstate the 12,000 South African miners sacked for taking part in an unofficial strike.

G20 to urge members to act against economic uncertainty

MEXICO CITY (Reuters) - The Group of 20 leading nations will urge countries to make the most of safety nets, including Europe's bailout fund, to limit uncertainty in the global economy when policymakers meet early next month, Mexican Deputy Finance Minister Gerardo Rodriguez said on Friday.

Euro zone rot spreads to Germany, China mending

LONDON: The euro zone's biggest member Germany is being sucked into the bloc's worsening economic quagmire, business surveys suggested on Wednesday, as similar data signalled the slowdown in China may be abating.

If US goes over fiscal cliff, dollar could fly

NEW YORK: In times of trouble, investors tend to flee to the comfort of the U.S. dollar -- even when the trouble is emanating from the United States.

"Fake in Italy" branches out into toothpaste, soaps: reports

MILAN (Reuters) - Counterfeiters of the kind who normally concentrate on ripping off luxury labels are diversifying into cheaper daily items like soaps and shampoos to lure Italian consumers cutting back on everything amid the recession, a study on Monday said.

Germany may see economy shrink in fourth quarter

Germany, the main funder of the eurozone's many bailouts, may see its economy shrink by the end of the year as the crisis bites, the central bank has warned.

Chinese government mulls policies to support solar power industry

(Reuters) - China is working on policies, including subsidies and easier access to the grid, to help its ailing solar power producers expand in the domestic market, the China Daily reported on Saturday, citing industry officials and government sources.

Eurozone crisis: Troubles grow in Spanish banking rescue

MADRID: Spain seems condemned to pay for its own banking rescue after Germany flatly refused to let the eurozone's future bank supervisor do so, analysts say. That is bad news for Spain's soaring public debt.

Bank of Canada not seen tightening until fourth-quarter 2013

OTTAWA (Reuters) - The Bank of Canada will postpone interest rate hikes until the fourth quarter of next year and will likely water down rather than eliminate its hawkish language when it announces its next rate decision on October 23, a Reuters poll of market forecasters showed on Thursday.

Analysis: Romney, Obama ask voters: Trust me

WASHINGTON (AP) — President Barack Obama and Republican Mitt Romney teed up the last three weeks of the presidential election as a question of which man voters can trust to improve the economy.

Unemployment falls to 15-month low

Hopes that Britain's economy is starting to recover from recession were boosted by a surprise fall in unemployment to its lowest rate since June 2011 while the number of people in work hit the highest level ever recorded.

Greece's Recovery Coming - But at a Cost

Greece's economy, in its fifth year of recession, is showing "tentative signs" of stabilization despite on-going political uncertainty, according to the latest research note from Credit Suisse.

French business erupts in fury against "disastrous" François Hollande

France is sliding into a grave economic crisis and risks a full-blown “hurricane” as investors flee rocketing tax rates, the country’s business federation has warned.

South Africa labour turmoil hitting growth

JOHANNESBURG (Reuters) - Two months of crippling labour turmoil are likely to force South Africa to look again at its economic growth forecasts, the central bank's deputy governor said on Sunday.

Goldman Sachs FX strategist: A$ 20% overvalued

SYDNEY--The Australian dollar is about 20% over valued and vulnerable to a sharp correction amid a slowing domestic economy and downward pressure on commodity prices, a top Goldman Sachs Group Inc.

China's central bank governor to skip key meeting in Japan

The governor of China's central bank has pulled out of the International Monetary Fund (IMF) and World Bank meetings being held in Japan.

Spain minister plays down IMF report

MADRID (AP) — Spain's economy minister played down the International Monetary Fund's forecast that the Spanish economy will contract by 1.3 percent next year — more than double its previous predictions — saying Tuesday that the forecast is not written in stone.

IMF cuts growth forecast for UK in "gloomier" global outlook

The International Monetary Fund cut its growth forecast for the UK as it downgraded its view of the global economy.

Greek deadlock continues as Christine Lagarde describes talks as 'productive'

Greece will not reach a deal with European debt inspectors on fresh austerity measures before a vital meeting on Monday, according to the country's finance minister, even as IMF managing director Christine Lagarde described talks as "very productive".

Behind Iran's currency crash

NEW YORK (CNNMoney) -- Iran's currency is in a free fall, and the sanctions over its nuclear program are mostly to blame.

German industry orders slide on weak domestic demand

(Reuters) - German industrial orders dropped in August as a slide in domestic demand outweighed an improvement in euro zone contracts, denting hopes that domestic appetite will sustain growth in Europe's largest economy.

ECB's Draghi Says Bond-Buying Program Is Ready

KRANJ, Slovenia—European Central Bank President Mario Draghi on Thursday said the bank's new bond-buying program is ready to activate, and put the onus on vulnerable countries such as Spain to first seek and receive assistance from other euro-zone governments.

Shares gain as growth fears ease, ECB meeting eyed

LONDON (Reuters) - European shares rose on Thursday as better economic data from the United States eased fears over global growth, while the euro strengthened ahead of an European Central Bank policy meeting later where is expected to keep rates unchanged.

Bernanke Seeks Gains for Stocks in Push for Jobs: Economy

Chairman Ben S. Bernanke is increasingly aiming for gains in stock prices as the Federal Reserve reaches for new tools to spur the three-year recovery and reduce unemployment stuck above 8 percent.

G7: Europe will tell US to deal with 'fiscal cliff'

Europe will tell the US, Japan and Canada next week that it is acting to resolve its sovereign debt crisis, but that US fiscal policy and slowing growth in Japan and China also pose risks to the global economy, according to reports.

Greece sure to get next aid tranche: German magazines

BERLIN: Greece will receive its next tranche of international aid despite budget shortfalls and slow progress on reforms because the euro zone does not want the country to leave the common currency, two German magazines reported on Saturday.

Spanish Banks Beat Expectations

MADRID—A new audit shows Spain would need less capital for its banks than initially estimated, clearing the way for the cleanup of the ailing sector at a time of uncertainty about the country's finances.

France unveils a budget heavy on taxes

PARIS (AP) — The French government presented a budget Friday that was heavy on taxes — including a controversial 75 percent income rate on high earners — but which critics said lacked fundamental reforms that could jumpstart economic growth.

UK economy shrank less than thought

The UK economy contracted by less than thought in the second quarter, official figures have shown. The economy shrank by 0.4% in the April-to-June period, the Office for National Statistics (ONS) said in its third estimate of gross domestic product (GDP).

French joblessness tops 3 million for first time in 13 yrs

PARIS (Reuters) - The number of unemployed in France topped the 3 million mark in August for the first time in 13 years, official figures showed on Wednesday, adding to President Francois Hollande's woes as he seeks to revive a stalled economy and his tumbling poll ratings.

German businesses remain gloomy

HONG KONG (CNNMoney) -- Faced with a persistent debt crisis in Europe, German businesses see few reasons for optimism.

G20 aides say central banks' fix not enough - Mexico

MEXICO CITY (Reuters) - Group of 20 nations want governments to do more to augment central bank actions to reverse a global economic downturn, officials said on Monday.

Britain’s exports are alive and kicking - it's up to the Government to keep it that way

With a eurozone crisis still battering the Continent, the prevailing view of foreign markets is that they are a gloomy influence on the British economy.

Merkel, Hollande pledge to consult on EADS

LUDWIGSBURG, Germany (Reuters) - France and Germany pledged on Saturday to consult closely on plans by Airbus parent EADS and Britain's BAE Systems to forge a new aerospace and defense giant, but announced no joint decisions on the $45 billion merger plan.

Austerity in the dock as Europe's debt-stricken leaders meet

(Reuters) - The leaders of countries at the center of the euro zone debt crisis met in Rome on Friday after steep upward revisions to Italy's public debt targets raised growing doubts about the austerity policies being pursued.

Greek Leaders Struggle With Spending Reductions

Greek Prime Minister Antonis Samaras struggled to clinch agreement with his coalition partners on an 11.5 billion euro ($14.9 billion) budget-cut package that’s key to receiving international aid funds.

Global Economy in Twilight Zone as Stocks Suggest Growth1

The world economy is sliding into a “twilight zone,” trapped between outright expansion and renewed recession. “It could go either way,” said Joachim Fels, chief economist at Morgan Stanley in London, who coined the description in an Aug. 15 report.

China faces instability risks as gap between rich, poor widens

BEIJING: A spectre of instability awaited China as the widening gap between rich and poor reached "dangerous levels of wealth inequality", a report by a Chinese NGO has said ahead of a key meet of the ruling Communist Party to select new leadership.

Japan and UK economies have 'eerie parallels'

If Japan - where experts fear a debt and deficit disaster - is Britain’s future, there is much to fear.

Spanish Unions Demand Vote on Cuts as 65,000 March in Madrid

Spanish union leaders demanded Prime Minister Mariano Rajoy test support for his budget cuts in a referendum as 65,000 protesters took to the streets of Madrid.

Increase in US retail sales fails to reassure

An increase in US retail sales last month failed to offer much assurance on the outlook for the world's largest economy as much of it was driven by petrol prices.

European Ministers Debate Bailouts

NICOSIA, Cyprus—Euro-zone finance ministers indicated Friday they are open to giving Athens more time to meet budget targets and that they aim to decide by the end of October on whether to give Greece its next installment of a bailout money.

World Bank urges East Europe to curb 'shadow economy'

BRUSSELS: Eastern Europe needs to curb its "shadow economy" to weather Europe's current financial crisis and promote growth, the World Bank said in a new report Monday.

Japan's Current-Account Surplus Narrows

TOKYO—Japan's economy is still struggling against headwinds from a slowdown in key export markets, government data released Monday showed, casting doubt over the viability of the nation's economic recovery going forward.

Jobs rut tips scales in favor of Fed stimulus

(Reuters) - The Federal Reserve looks set to launch a third round of bond purchases this week to try to drive borrowing costs lower and breathe more life into an economy that is not growing fast enough to lower unemployment.

EU pushes more moves to stem debt crisis

(Reuters) - European Union officials pushed on Saturday to accelerate moves to stem the bloc's long debt crisis as Italian premier Mario Monti warned that economic suffering was fuelling divisive nationalism on the continent.

Clinton sees Congress moving on Russia trade measure

VLADIVOSTOK, Russia (Reuters) - The U.S. Congress may move this month to upgrade trade relations with Russia, a key part of the Obama administration's effort to bolster sometimes strained ties with Moscow and open the Russian market to more U.S. companies, Secretary of State Hillary Clinton said on Saturday.

German industry orders rise, outlook still gloomy

BERLIN (Reuters) - Stronger domestic demand helped German industrial orders edge up in July and an engineering trade body raised its forecast for full-year output growth but warned the euro crisis would hurt more in the second half of 2012.

Five reasons the economy may be about to boom

Roger Altman, a former deputy Treasury secretary and a co-founder of the investment firm Evercore partners, thinks the U.S. economy could be on the verge of an unexpected boom.

Global economic uncertainty hurts stocks

LONDON (AP) — Global financial markets fell Tuesday amid uncertainty over what authorities in the U.S., China and Europe might do to help the slowing world economy.

Germany's Finance Minister Wolfgang Schaeuble confident of go-ahead for eurozone pacts

STRASBOURG: Germany's Finance Minister Wolfgang Schaeuble said Monday he was confident the country's top court will not block the signing into law of the eurozone's key crisis-fighting tools.

Japan May Add Mortgage Tax Benefits to Cushion Sales Slowdown

Japan may extend mortgage tax benefits by five years and raise the deduction rate to cushion an expected slowdown in home sales in 2014 when a consumption tax increase takes effect.

Bernanke lifts Wall St, keeps stimulus in play

NEW YORK (Reuters) - U.S. stocks rose on Friday after Federal Reserve Chairman Ben Bernanke, expressing "grave concern" for the stagnating U.S. job market, said the central bank was prepared to take further steps to strengthen the economy if necessary.

U.N. body urges G20 action on food prices, waste

(Reuters) - The world's top farm producers in the Group of 20 countries must agree coordinated action to ease worries about food prices, the head of the United Nations food agency said on Monday, as he and other experts bemoaned a huge global waste of food and water.

China’s fears grow over eurozone crisis

China has expressed deep alarm at the escalating crisis in Europe and warned against austerity overkill as Europe's crumbling demand sends shock waves through Asia.

Alternative Energy And Global Energy Security In Aftermath Of Rio+20

By Alexander Mirtchev, Contributor

 

“Life always gets harder toward the summit–the cold increases, the responsibility increases.” These words by Friedrich Nietzsche aptly characterize the atmosphere among global leaders at June’s international summits.

Emergency tax on rich could drive away wealth creators, warns George Osborne

George Osborne effectively ruled out Nick Clegg's plans for an emergency tax on the rich today claiming the government should be wary of driving away the wealth creators.

Spanish recession set to deepen as austerity bites

MADRID (Reuters) - The Spanish economy is falling deeper into recession and depositors are pulling their money out of the banks, figures published on Tuesday showed, as the government moves closer to seeking a European rescue package.

Debt crisis: German business confidence slumps

Business confidence in Germany dropped to its lowest level in nearly two and a half years in August, as Europe's biggest economy increasingly feels the pain from the debt crisis, data showed Monday.

Merkel and Hollande sidestep Greece's plea for breathing space

Angela Merkel and Francois Hollande pledged to keep Greece in the eurozone, but offered Greece no immediate relief from its current regime of painful austerity measures.

US Federal Reserve Chairman Ben Bernanke says there's room for Fed to act further

WASHINGTON: US Federal Reserve Chairman Ben Bernanke makes clear in a letter to a House lawmaker that he thinks the Fed can do more to bolster the economic recovery and help reduce unemployment.

UK recession may not be as deep as feared

Britain's recession might not be as deep as feared after better-than-expected construction and industrial production figures suggest that official GDP figures for the second quarter will be revised up on Friday.

Spain in talks with euro zone over sovereign aid : Sources

Spain is negotiating with euro zone partners over conditions for aid to bring down its borrowing costs, though the country has not made a final decision to request a bailout, three sources with knowledge of the matter said on Thursday.

Global shares slip as government bonds gain, Greece eyed

NEW YORK (Reuters) - Shares prices slipped from 3-1/2 month highs on major world markets on Wednesday and government bond yields fell as Greek and European officials met on the eurozone debt crisis and after weak Japanese economic data stoked concern about global growth.

Spain borrowing costs tumble in debt issue

MADRID: Spain's short-term borrowing costs tumbled Tuesday as it raised 4.51 billion euros ($5.6 billion), buoyed by the possibility of European Central Bank intervention.

German and Greek Officials Play Down Expectations

BERLIN — The foreign ministers of Germany and Greece sought Monday to scale back expectations that a series of high-level meetings this week would produce significant decisions over Greece’s future in the European currency union, calling instead for a “climate change” in tone between the two countries.

Weak euro zone casts long shadows

LONDON (Reuters) - Drug dealers, money launderers and assorted cash-only criminals love the convenience of the 500 euro note.

Japan eyes end to decades long deflation

TOKYO (Reuters) - Japan on Friday offered its strongest indication yet it sees a way out of deflation next year, after being mired in a corrosive mix of falling prices and weak economic growth for much of the past two decades.

Data points to lackluster economic growth

(Reuters) - A trend measure of Americans signing up for new jobless benefits fell close to a four-year low last week, but weakness in a regional factory gauge showed U.S. recovery still faces an uphill climb.

German lawmakers demand ECB voting reform, oppose bond buying

BERLIN (Reuters) - A handful of lawmakers in Angela Merkel's coalition are demanding a reform of the European Central Bank's voting system to strengthen Germany's influence, highlighting worries in Europe's biggest economy about the bank's bond-buying plans.

UK unemployment falls due to temporary Olympics jobs boost

The number of Britons out of work has fallen to its lowest in almost a year, with the decline partly due to jobs created for the London Olympics as well as an increase in self- and part-time employment.

France, US and G20 president Mexico weigh emergency meeting to tackle soaring food prices

PARIS: France, the United States and G20 president Mexico will hold a conference call at the end of August to discuss whether an emergency international meeting is required to tackle soaring grain prices caused by the worst US drought in half a century.

Japan's tax hike plan clears final hurdle, focus on polls

(Reuters) - Japan's contentious plan to double the sales tax cleared the final hurdle in a parliamentary vote on Friday after Prime Minister Yoshihiko Noda promised to bring forward an election likely to end his party's three-year rule.

Growing Paychecks Boost Americans’ Purchasing Power: Economy

Americans’ paychecks in the first half of 2012 grew at the fastest pace in five years, pointing to an improvement in purchasing power that may help propel the economic expansion.

How long can Spain resist the financial crisis?

Imagine the interest rate on your mortgage going up and up until you can barely meet the monthly installments. How long do you hold on, scrimping and saving, before you throw in the towel?

Italy posts trade surplus of $3.09 billion in June

ROME: Italy's trade balance showed a surplus of 2.52 billion euros ($3.09 billion) in June compared to a 1.7 billion euros deficit a year earlier, suggesting the economy is doing better than previously feared.

Censure of Standard Chartered Draws Harrumphs in London

LONDON — In this summer of revelations about bad behavior by British financial institutions, bashing the banks has been London’s other Olympic sport.

IMF mission to discuss loans in Egypt this month

WASHINGTON (Reuters) - The International Monetary Fund (IMF) will send a mission to Cairo this month to hold talks on loans to the new government of Egypt's Islamist President Mohamed Mursi, a spokesman for the fund said on Sunday.

Bernanke Says Economic Data May Mask Individual Suffering

Federal Reserve Chairman Ben S. Bernanke said gauges of the U.S. economy’s strength may fail to measure the suffering of individual citizens.

Debt crisis threatens to break up Europe

Tensions within the eurozone over how to resolve the debt crisis are turning countries against each other and threatening to rip Europe apart, Italian Prime Minister Mario Monti has warned.

German politicians concerned about bigger role for ESM

(Reuters) - Politicians in Germany's ruling centre-right coalition have expressed renewed concerns about an increased role for the euro zone's permanent bailout fund, which is at the centre of a court case after the German parliament approved it in basic form.

US economy added 163,000 jobs in July as Obama handed major election boost

The US added 163,000 new jobs in July, ahead of economists' expectations and offering some relief for President Barack Obama as the economy emerges as the key battleground of the 2012 election.

BoE policy on hold for now as UK economy worsens

LONDON (Reuters) - The Bank of England decided it was too soon on Thursday to step up efforts to bolster Britain's recession-hit economy, although future action looks increasingly likely as growth shows little sign of rebounding after a dismal few months.

Japan must do more to shrink public debt: IMF

Japan must do more to shrink its massive public debt, the International Monetary Fund said Wednesday, but added that the nation's disaster-hit economy was recovering well despite turmoil overseas.

Eurozone break-up would trigger £1 trillion of QE, see banks nationalised and deep recession, warns Fathom

A Eurozone break-up would plunge the UK into an even deeper recession than the last one, force the Government to nationalise the banks, and trigger a £1 trillion bout of money printing, leading economic consultancy Fathom has warned.

Juncker: Euro zone leaders, ECB to act on euro - paper

(Reuters) - The euro zone is at a decisive point and leaders will work with the European Central Bank (ECB) to demonstrate their commitment to the stability of the single currency, Eurogroup head Jean-Claude Juncker said in interviews with European newspapers.

Germans 'better off without euro' - poll

The majority of Germans believe the country would be better off without the euro, a poll suggested on Sunday, as the economy minister reiterated doubts over whether Greece can stay in the single currency.

Growth in U.S. Slows as Consumers Restrain Spending

The world’s largest economy cooled in the second quarter as limited job growth prompted Americans to curb spending while state and local governments cut back.

One in three chance UK loses AAA rating: Poll

LONDON: Britain has about a one in three chance of losing its AAA sovereign credit rating, a Reuters poll found on Thursday, a move that would put huge pressure on finance minister George Osborne who is sticking with austerity even as the recession deepens.

IMF: Worsening eurozone crisis a 'key risk' to China

The International Monetary Fund (IMF) has warned that the worsening debt crisis in the eurozone poses a "key risk" to China's growth.

Spain debt market gives Europe unsettling sense of deja vu

LONDON (Reuters) - Spain's short-term borrowing costs are on course to overtake its longer-term ones in an unsettling deja vu for the euro zone suggesting its fourth-largest economy could soon be squeezed out of commercial markets.

Germany's AAA credit rating on 'negative outlook'

Credit ratings agency Moody's has changed its outlook for Germany's AAA credit rating to negative, the first step towards a possible downgrade.

IMF says will support Greece in overcoming economic woes

WASHINGTON (Reuters) - The International Monetary Fund on Monday dismissed a weekend news report that it may refuse to continue supporting Greece as it prepares for talks with the new Greek government on its international bailout.

Treasury 5-Year Yields Fall to Record on Europe Crisis

Five-year Treasury note yields fell to a record low as data showed the U.S. economic growth slowing and investor concern Europe’s debt crisis is worsening led to increased demand for the safest assets.

Spanish bank bailout moves forward

NEW YORK (CNNMoney) -- Eurozone finance ministers on Friday approved the terms of a bailout for Spanish banks and agreed to set aside €30 billion in emergency funds.

US unemployment benefit claims surge

New claims for US unemployment benefits surged sharply higher last week, ending three straight weeks of declines in the struggling jobs market, official data showed.

Greek leaders push back decision on austerity cuts

ATHENS: Greek coalition leaders agreed to meet next week to hammer out almost 12 billion euros worth of austerity cuts demanded by the near-bankrupt country's lenders after a deal proved elusive at an initial round of talks on Wednesday.

Angela Merkel unsure European project will work

German Chancellor Angela Merkel has admitted that she could not be certain the "European project" would work.

US economy has slowed significantly, says Ben Bernanke

Ben Bernanke, the Federal Reserve chairman, said the economy had slowed significantly in recent months due to the continuing eurozone debt crisis and uncertainty surrounding US fiscal policy.

Global recovery still under threat, says IMF outlook

The global economic recovery is still at risk, and eurozone economies remain in a "precarious" situation, the International Monetary Fund has said.

No extension to Greece's aid programme: Germany

BERLIN: Germany said on Friday that the terms of a crucial aid package for Greece should not be changed, after a report said Chancellor Angela Merkel would allow Athens "a few weeks" more to meet its commitments.

UK needs extra spending cuts, says OBR

The UK government must make deeper cuts or raise more money in the future to keep public finances in check, the Office for Budget Responsibility says.

Italy eyes euro zone aid to ease debt pain

(Reuters) - Italy said on Tuesday it may want to tap euro zone aid to ease its borrowing costs as finance ministers struggled to convince markets they are getting a grip on the bloc's debt crisis, which a top European Central Banker said could escalate.

Spain Gets Further Concessions on Its Bailout

MADRID — In the early hours of Tuesday morning, Spain squeezed additional concessions from its euro currency bloc partners, both in terms of guaranteeing rescue aid for its banks and loosening Madrid’s budget deficit targets.

German "wise men" reiterate call for redemption fund

(Reuters) - Germany's panel of government economic advisors said on Friday the decisions made at last week's EU summit could stabilize the euro zone in the short term but do not solve the crisis which could still escalate further.

As economy steadies, number of bank failures falling

WASHINGTON — Fewer U.S. banks are failing than at any time since the financial crisis erupted in 2008.

China rate cut a gamble that banks will boost economy

BEIJING (Reuters) - China's second surprise rate cut and lending reform in the space of a month shows that Beijing wants borrowing to play a greater role in reviving an economy struggling with its weakest pace of growth since the global financial crisis.

US jobs data triggers share price slip

US shares have fallen after official data showed firms had created only 80,000 new jobs in June, leaving the jobless rate unchanged at 8.2%.

Greece sees 'difficult years ahead' as EU-IMF talks begin

ATHENS: New Greek Finance Minister Yannis Stournaras warned on Thursday that the country's recovery was "off-track" and Greece faced "difficult years ahead" as sensitive talks with EU-IMF creditors began.

The U.S. and Europe: Time to spur growth through trade

An important but little-noticed event took place at the June 18-19 G-20 Summit – President Obama and his European Union counterparts signaled the U.S. and EU may negotiate a comprehensive agreement to liberalize transatlantic trade and investment.

Debt crisis: Finland threat to plans to unleash ESM

Finland, one of the eurozone’s few remaining AAA-rated economies, has pledged to block Brussels’ celebrated plans to allow its new bail-out fund to buy sovereign bonds in the market.

Spain shrank further in second quarter, government to push reforms

NAVACERRADA, Spain (Reuters) - Spain's economy shrank further in the second quarter but looks set to stabilize over the rest of the year while the government continues to push structural reforms and budget austerity, Economy Minister Luis de Guindos said on Sunday.

Lagarde assures Mursi IMF ready to help Egypt

WASHINGTON (Reuters) - International Monetary Fund Managing Director Christine Lagarde called Egyptian President-elect Mohamed Mursi to discuss the economic challenges facing Egypt and how the international lender can best help, a spokesperson for the IMF said on Friday.

White House: encouraged by "progress" made by Europe

(Reuters) - The White House on Friday offered a cautious welcome to the promise of fresh action by euro zone leaders during overnight talks to tackle their simmering debt crisis, but emphasized that the region will require ongoing steps to resolve its problems.

Requiem to a Reset: Why Putin’s Russia Distrusts America

SOFIA — The meeting of U.S. President Barack Obama and his Russian counterpart Vladimir Putin at the G-20 summit in Mexico only underscored the chill in relations between Moscow and Washington.

Euro: EU seeks new joint strategy

EU leaders look set to agree on a growth package for the struggling eurozone but Italy and Spain want quick action to lower their borrowing costs.

Debt crisis: France must find €10bn of savings

France must find up to €10bn (£8bn) of savings to bring its budget deficit under control this year, finance minister Pierre Moscovici has said.

Bank of England's money printing is putting UK economy at risk

The Bank of England may be putting the economy at risk by persisting with low interest rates and money printing, according to the world's central banking supervisor.

Spain formally asks for bank aid

NEW YORK (CNNMoney) -- The Spanish government made a formal request to the Eurogroup on Monday for loans to bailout its troubled banking sector.

World presses EU summit for lasting euro remedy

Europe's leaders gather for a mother-of-all-summits this week under intense global pressure to head off a potentially catastrophic economic collapse.

Activists slam Rio+20 sustainable development summit as a 'hoax'

(CNN) -- As delegates ended the three-day Rio+20 summit with a 53-page statement called "The Future We Want," activists slammed the U.N. conference on sustainable development as a "failure of epic proportions."

Eurozone four leaders agree economic growth package

Leaders of the eurozone's four biggest nations have agreed in principle to measures to boost growth equal to 1% of the currency area's economic output.

Developing countries to the rescue at G-20 summit

LOS CABOS (MEXICO): The scene at the just-concluded Group of 20 summit held in this seaside resort would have been unthinkable a decade ago: Hundreds of dignitaries gathered in opulent Mexican hotels and convention halls to hammer out an economic bailout for Europe.

At G-20 summit in Mexico, Europe crises dominate talks

LOS CABOS, Mexico — Relief over the pro-euro currency vote in the Greek elections quickly faded Monday amid signs of persistent troubles for the Eurozone, as world leaders grappled with the grim reality that Europe's debt and political crises are far from over.

G20 summit: Greece must 'get on with it' or face dangerous consequences, warns David Cameron

Speaking on board the plane taking him to the G20 summit in Mexico, the Prime Minister said that if Greece “wants to stay in the eurozone” then the country’s politicians “have got to get on with it”.

China president urges G20 members to stick together

BEIJING (Reuters) - Chinese President Hu Jintao has urged members of the Group of 20 (G20) to stick together and address Europe's debt crisis in a "constructive and cooperative" way to boost market confidence, state news agency Xinhua reported on Sunday.

Barack Obama, world want bold signs from Europe at G-20

CHICAGO: President Barack Obama is searching for bolder, swifter signals from Europe that it will contain its financial mess and keep it from torpedoing the US economy and his re-election chances along with it.

Canada's Flaherty: G20 must keep pressure on euro zone

OTTAWA (Reuters) - The United States and other non-European members of the Group of 20 leading economies should keep up pressure on Europe to deal with its debt crisis, Canadian Finance Minister Jim Flaherty said on Thursday.

Germany says G20 should look beyond euro zone

BERLIN (Reuters) - Group of 20 leaders meeting in Mexico next week to discuss the state of the global economy should not focus exclusively on problems in the euro zone but also talk about the strained U.S. budget and Chinese currency, German officials said on Tuesday.

Merkel faces tough sell at home over Spanish aid

BERLIN (Reuters) - Angela Merkel's government was forced to defend an EU rescue for Spain's indebted banks on Monday, with many Germans convinced their generosity is being abused and skeptics warning that promising aid without tough conditions sets a risky precedent.

EU's Spain bank rescue may bring only brief respite

PARIS: Euro zone finance ministers rushed Spain into an EU-funded rescue for its debt-stricken banks to pre-empt the threat of a bank run if Greece's debt crisis flares again but any respite for Madrid and the euro may be short-lived.

George Osborne hints at British referendum on Europe

George Osborne has hinted at a British referendum on Europe, saying any "reshaped" UK relationship with EU would have to be put to British voters for approval.

IMF to put Spanish bailout bill at 40-80 billion euros: Report

MADRID: An IMF report on Spanish banks to be released on Monday would estimate the cost of refinancing them at between 40 and 80 billion euros ($50-100 billion), Spanish newspaper ABC said Thursday.

European Central Bank Leaves Rate Unchanged at 1 Percent

FRANKFURT — The European Central Bank left its main interest rate unchanged Wednesday, choosing to put the onus on political leaders to address an increasingly dangerous level of tension in the euro zone.

US economic outlook worsens after jobs report

WASHINGTON: The faltering US job market has prompted economists to take a much dimmer view of the country's growth prospects.

G7 to hold emergency euro zone talks, Spain top concern

TORONTO/BERLIN (Reuters) - Finance chiefs of the Group of Seven leading industrialized powers will hold emergency talks on the euro zone debt crisis on Tuesday in a sign of heightened global alarm about strains in the 17-nation European currency area.

Regulators take more time over money market reform

LONDON (Reuters) - Global regulators will take more time over tightening rules for money market mutual funds after one of the world's top industry players said their proposals needed refining.

Dire jobs data deal blow to Obama reelection hopes

WASHINGTON: Dire new unemployment data and a rise in the jobless rate dented Barack Obama's reelection hopes Friday and boosted his foe Mitt Romney who brands the president a failure who cannot create jobs.

Irish Vote on Fiscal Pact

DUBLIN—Irish voters deliver their verdict Thursday on a European Union treaty designed to bring financial stability to the euro zone by binding countries to tougher rules on balancing their budgets.

Global regulators plan margin rules soon for uncleared derivatives

(Reuters) - Global regulators said on Wednesday they will issue proposals in coming weeks on rules to encourage banks to put derivative trades through a central clearing house, but they won't be ready for the G20 summit in June.

Italy's austerity drive can't save it from Spanish fate

Italy is just like Spain, just a bit more Catholic. That may seem like an obvious statement in religious terms after a steep fall in observance across Spain and when the Vatican City remains the home of the Catholic leader.

Americans Grew Gloomier About the Economy in May

Americans grew much gloomier about the economy in May, causing a critical measure of consumer confidence to suffer its biggest decline in eight months and ending a period of steady optimism.

EU says China, U.S. also have economic work to do

BRUSSELS (Reuters) - The United States and Japan need to tackle their tax issues and China must relax restrictions on the yuan as they share responsibility with Europe for restoring global economic health, EU leaders said ahead of a June summit of the G20 economies.

Christine Lagarde: Greeks can help themselves out of the crisis by 'paying their tax'

Christine Lagarde has warned that Greece can expect little sympathy from the International Monetary Fund on its bail-out terms, and called for its citizens to "help themselves" out of the financial crisis by "paying their tax".

Greek exit would destabilise world economy: lobby

The head of the global banking lobby which handled the private debt write-off for Greece warned on Friday that if the country leaves the eurozone, the world economy would suffer badly.

Australia, China to Push for Europe Stimulus At G-20

SYDNEY—Australia will back China in using next month's Group of 20, or G-20, summit in Mexico to push for Europe's struggling economies to change direction and focus on growth instead of austerity, the country's Foreign Minister Bob Carr said Friday.

Eurozone economy 'in dire straits'

As if Europe needed more bad news, a report Thursday showed a big drop in manufacturing activity across the eurozone.

EU summit: Merkel challenged on growth strategy

EU leaders have started summit talks in Brussels with Germany resisting pressure to launch eurobonds as a way to ease the eurozone crisis.

Barloworld pins hopes on China and Russia

JOHANNESBURG (Reuters) - South African industrial group Barloworld expects Chinese and Russian demand for resources to underpin growth for equipment such as forklifts and trucks, its chief executive told Reuters in an interview.

Obama sees 'emerging consensus' on economic fix

CAMP DAVID, Md. (AP) — Confronting an economic crisis that threatens them all, President Barack Obama and leaders of other world powers on Saturday declared that their governments must both spark growth and cut the debt that has crippled the European continent and put investors worldwide on edge.

G8 Summit: France leads call to keep Greece in the euro

France led calls for a push to keep Greece in the eurozone as world leaders met for the G8 summit in Camp David after a torrid week for the crisis-ridden region.

Schaeuble Sees Two Years of Turmoil as G-8 Leaders Meet

German Finance Minister Wolfgang Schaeuble said turmoil in the financial markets caused by Europe’s debt crisis may last another two years, as Group of Eight leaders prepared to discuss Greece and its impact on the global economy.

Bank of Canada says G20 pledge delays to cost $6 trillion

OTTAWA (Reuters) - The world economy could forgo US$6 trillion in growth by 2015 if heavyweight countries delay fiscal and currency reforms they promised to implement in November last year, the Bank of Canada said in a publication released on Thursday.

China, SKorea, Japan try to ease NKorea tensions

BEIJING (AP) — The leaders of China, South Korea and Japan said Sunday that they will work together to try to calm tensions on the Korean peninsula.

Eurozone avoids recession after strong German growth

The eurozone has narrowly avoided returning to recession after recording zero growth in the first three months of the year, figures have shown.

Greek Crisis Hurts European Markets

PARIS — The dollar rose and stocks fell Monday in Europe, and Wall Street appeared to be headed for a weak opening, as politicians fumbled for a way forward in a crisis that has put Greece’s continued euro membership into serious doubt.

European Warning Over Spanish Deficit

BRUSSELS — As the Spanish government took further measures Friday to shore up the country’s banking sector, the European Commission injected a new dose of gloom by warning that Madrid was likely to miss its deficit-reduction targets for this year and next by wide margins.

Putin's reason for skipping US summit puzzles

MOSCOW (AP) — The Kremlin on Thursday explained President Vladimir Putin's surprising decision to skip a planned high-profile visit to the United States next week by saying he needs to finish setting up his new government.

China economy: weak and weaker

Maybe China's leaders —currently embroiled in a complex leadership transition — should worry less about politics at the moment, and more about economics.

Germany warns Greece it will halt aid unless it commits to bailout agreements

Germany has threatened to halt vital financial aid to Greece unless a new government commits to the terms of the country’s bail-out agreements.

Greece must implement bailout deal, EU Commission ready to help

BRUSSELS (Reuters) - Greece must implement the reforms it agreed to under the second bailout program and the European Commission is ready to help Athens with that, the European Union executive said on Monday, after Greek parties opposing the bailout did well in elections.

Egypt foreign reserves see first gain since 2010

CAIRO (Reuters) - Egypt's foreign reserves rose slightly last month, central bank data showed on Sunday, their first gain since a popular uprising unseated the country's autocratic leader and sent the economy into a tailspin.

German Yields Fall to Records on Safety Bid; France Gains

German bunds advanced, sending the nation’s borrowing costs to record lows, on speculation Europe’s economic slump is deepening and exacerbating the region’s financial crisis.

European Central Bank Opposes Higher Taxes

BARCELONA — Ahead of crucial elections in France and Greece, Mario Draghi, the president of the European Central Bank, warned governments on Thursday that opting for the “easier road” of raising taxes to fill public coffers would not solve Europe’s problems.

UK construction PMIs offer recovery hope

Construction continued to power ahead in April with strong levels of new business and employment, according to a closely-watched economic indicator.

U.S., Japan still mulling regional trade pact: Obama

(Reuters) - President Barack Obama on Monday voiced support for Japan joining talks with the United States and eight other countries on a free trade agreement in the fast-growing Asia Pacific region, but said no final decision had been made.

Australia cuts interest rates as economy slows

Australia's slowing economy has pushed the country's central bank to slash interest rates by 0.5 percentage points to 3.75%, in a sign that the eurozone crisis and the cooling in China are affecting the global economy.

Wall Street down; S&P on track for monthly loss

(Reuters) - U.S. stocks fell on Monday, putting the S&P 500 on track for its first monthly decline since November, after data hinted the U.S. economic recovery is stalling and Spain's fall back into recession underscored nagging euro zone stresses.

Slower China economy a worry for Western firms

BOSTON/LONDON (Reuters) - As China's economy cools, some big U.S. and European companies are losing what had been one of their surest growth bets.

Euro zone woes keep banks wary after Q1 bounce

LONDON/MADRID (Reuters) - Earnings from some of Europe's top banks showed the scars of the euro zone crisis on Thursday, with big losses on Spanish property and fragile economic recovery likely to dampen an early investment banking rebound.

Japan eyes Indian youth and vigor

Mumbai, India (CNN) – While Japan has a slowing economy and an aging population, India has just the opposite. That’s why the number of Japanese companies in India has doubled in the last two years.

ECB's Draghi, seeking growth, throws crisis ball to governments

(Reuters) - European Central Bank President Mario Draghi called on Wednesday for a "growth compact" but put the onus on euro zone governments to shape-up their economies.

Federal Reserve sees economy improving

NEW YORK (CNNMoney) -- The Federal Reserve believes the economy is improving, but not enough to warrant a change in its stimulative policies just yet.

Analysis: Elusive China equity returns now face growth slowdown

LONDON (Reuters) - Investors who have endured two decades of miserable stock market returns in China may have to wait a while yet for their bets to pay off as turbo-charged economic growth runs out of steam and a new economic model starts to evolve.

Oil falls on European economy concerns

NEW YORK (AP) — The price of oil dropped Monday on fresh concerns about Europe's economy.

Outlay of $14 Trillion Hasn't Solved Problem of Debt

WASHINGTON — The amount of money thrown at rescuing the world economy since the beginning of the current crisis is truly staggering — probably more than $14 trillion — and the financial spigots are still open.

G20 doubles IMF's war chest amid fears on Europe

(Reuters) - Leading world economies on Friday pledged $430 billion in new funding for the International Monetary Fund, more than doubling its lending power in a bid to protect the global economy from the euro-zone debt crisis.

Europe Urged to Fix Crisis as G-20 Warns of More Stress

Europe’s governments were told the onus for fixing their debt woes lies with them as the Group of 20 warned the two-year crisis still threatens global growth.

Chile says Argentina's YPF seizure hurts investment

PUERTA VALLARTA, Mexico - (Reuters) - Argentina's move to seize control of energy company YPF, a unit of Spanish oil major Repsol, hurts future investment in Latin America, Chile's economy minister said on Tuesday.

World economy still on life support

(Financial Times) -- The world economy "remains on life support" from central banks and has deteriorated since last autumn, the latest Brookings Institution-Financial Times tracking index shows, despite some recent signs of stabilisation.

Eurozone crisis roars back to savage Spain

Just when you hoped it really was "solved", the eurozone crisis has roared back on to the global agenda.

Exclusive: G20 may boost IMF resources by $400-500 billion: officials

(Reuters) - The world's 20 biggest economies are likely to agree to increase the resources of the International Monetary Fund by between $400 and $500 billion, rather than the $600 billion initially sought by the IMF, Group of 20 officials have told Reuters.

European stocks down after poor Italy bond sale

Fears about Europe's debt crisis ended a rally in Europe on Thursday, pushing most share prices down as Italy's borrowing costs rose in a debt sale.

US shares trade higher after a five-session losing run

US shares were higher in early trading on Wednesday following a losing run of five sessions.

World Bank race heating up

NEW YORK (CNNMoney) -- The World Bank will choose its next president in one week, and for the first time ever, it's got a competition on its hands.

Romania backs out of mine sale, privatization hits snag

BUCHAREST (Reuters) - Romania has backed out of a deal to sell its biggest copper mine to Canada's Roman Copper Corp, its economy minister said on Saturday, a fresh blow to a privatization plan agreed with the International Monetary Fund.

China looks at more support for IMF bailouts

The two nations said they will consult “very closely” on the issue after Christine Lagarde, head of the IMF, asked members to commit as much as $500bn (£315bn) extra to the Washington-based global lender for possible bailouts.

UK Economy Narrowly Avoided Recession In First Quarter-NIESR

LONDON -(Dow Jones)- The U.K. economy narrowly avoided falling back into recession in the first quarter of 2012, an independent economic research group said Thursday.

IMF director says global recovery very fragile

WASHINGTON (AP) — The managing director of the International Monetary Fund said Tuesday that the global economy is making some advances in digging itself out of a punishing recession, but that the recovery remains very fragile, especially in Europe.

Unemployment in Euro Zone Hit New High in February

LONDON — Unemployment in the euro zone reached its highest level in almost 15 years in February, with more than 17 million people out of work, according to figures released Monday.

Spain Record Home Price Drop Seen With Bank Pressure

Spanish home prices are poised to fall the most on record this year, leaving one in four homeowners owing more than their properties are worth, as the government forces banks to sell real-estate holdings.

EU Ministers Urge Steps Toward IMF Support

COPENHAGEN—European finance ministers urged a prompt decision on ramping up the International Monetary Fund's crisis-fighting resources, a day after they agreed to commit more funds to their own so-called firewall.

Bank of England faces calls for full review of handling of financial crisis

The Bank of England is facing calls to publish a full account of how it handled the financial crisis after the Treasury admitted it had made mistakes when the UK's banking system was on the brink of collapse.

World Bank race: Nigerian finance minister warns emerging economies will "lose interest" if voice not heard

Ngozi Okonjo-Iweala, the Nigerian finance minister who wants to run the World Bank, has warned that emerging economies will lose interest in multi-lateral institutions if they are not given more of a voice at the top of them.

Arab economy ministers meet before Baghdad summit

Arab economy ministers opened talks in the Iraqi capital on Tuesday ahead of a regional summit, aiming to ramp up tourism in the region despite the bloody crackdown in Syria.

German Economy To Remain Resilient This Year: IHS Global Insight

(RTTNews.com) - Germany's better-than-expected improvement in business confidence, as the Ifo survey for March showed, indicates that the economy remains resilient to threats from the deepening Eurozone debt crisis and surging oil prices, Timo Klein, senior German economist at IHS Global Insight, said in a note Monday.

Eurozone debt crisis: how Greece could exit the euro

As global companies draw up contingency plans for a Greek exit from the euro, we examine the feasibility of Athens’ departure – from new drachmas to illegality and €1 trillion costs.It’s a tradition of Greek theatre that the real action takes place off-stage. Much the same might be said of the euro drama.

George Osborne gets bolder with each Budget – but it’s still not enough

Luckily for George Osborne, not many people have noticed the heckler that he has created to pass comment on his budgets.

Gold edges up on dollar; physical demand sluggish

SINGAPORE (Reuters) - Gold prices edged higher on Wednesday after dropping nearly 1 percent in the previous session, as a slightly weaker dollar came to the aid of buyers, while sluggish physical demand and an improving U.S. economic outlook capped gains.

Mexico says G20 to look at smoothing capital flows

(Reuters) - Mexico will include possible steps to blunt the impact of sharp capital flows on the Group of 20's policy agenda after discussions with Latin American neighbors, Finance Minister Jose Antonio Meade said on Sunday.

UK is the ‘most internet-based major economy’

The internet contributes to 8.3% of the UK economy, a bigger share than for any of the other G20 major countries, a new study suggests.

Canadian Internet economy lags G20 peers, online shopping a drag: study

TORONTO - Canada's Internet economy is expected to grow by 7.4 per cent a year through 2016, better than the country's overall GDP but still lagging many global peers, according to a new study commissioned by Google.

Inflation, markets to decide ECB crisis exit, says ECB policymaker Ewald Nowotny

VIENNA: Stable prices and functioning financial markets are the keys to the European Central Bank eventually launching a gradual exit from crisis-fighting mode and it has many tools it can use to carry out the process, policymaker Ewald Nowotny said on Thursday.

Swiss govt ups growth f'cast ahead of SNB meet

ZURICH (Reuters) - The Swiss government raised its 2012 growth forecast a touch on Thursday, saying with the euro zone's debt crisis easing there was a good chance the economy had put the worst behind it.

G20 GDP growth slowed in Q4 to 0.7 per cent, says OECD

PARIS: Gross domestic product growth in the Group of 20 economic powers slowed in the final three months of 2012 to 0.7 percent from 0.9 percent in the previous quarter, the Organisation for Economic Cooperation and Development said on Wednesday.

Biggest G-20 Current-Account Deficit Stalls Rally in Bonds: Turkey Credit

The biggest bond rally in emerging markets may be derailed by Turkey’s current-account deficit, the largest among the Group of 20 countries.

Greece and Spain top agenda at Eurogroup meeting

Finance ministers from eurozone nations are to meet on Monday to discuss giving Greece's second bailout final approval.

China records huge February trade deficit

China swung into a huge trade deficit of $31.48 billion in February, according to the latest customs data, as the West's economic troubles hit the world's second-largest economy.

Portugal's economy shrank 1.6 percent in 2011

LISBON, Portugal (AP) — Portugal's economy shrank 1.6 percent last year as austerity measures adopted in return for a euro78 billion ($103 billion) bailout took their toll, the national statistics agency said Friday.

Airbus says China blocking orders worth $12 billion over EU scheme

China is blocking orders for at least $12 billion worth of Airbus jets to protest the European Union's emissions trading fees, in a new challenge to the program aimed at fighting global warming, the planemaker said Thursday.

Forbes tally grows to 1,226 billionaires globally

NEW YORK (AP) — One made the list on the strength of girdle sales, another powered by electric sports cars. Still others lost billions or fell off the list altogether thanks to the weak global economy and the gyrations of financial markets.

UK jobs market shows spring shoots

There were glimmers of a spring revival in the UK jobs market on Wednesday with permanent job placements clocking up the fastest growth for almost a year and vacancies also rising, according to a survey.

Third rescue plan for Greece likely in 2015: Spiegel

BERLIN: Greece might need a third international rescue package worth 50 billion euros ($66 billion) in 2015, the German weekly magazine Spiegel said on Sunday.

Europe's Bond Sales Mark ECB Success Story

LONDON—Buyers lined up for auctions of government debt Thursday, helping drive down borrowing costs for countries across the euro zone and providing strong evidence that the wave of cash injected into lenders by the European Central Bank is finding its way to stressed governments.

Britain's 'voice was heard' at EU summit, says David Cameron

Mr Cameron declared himself frustrated yesterday that the priorities of a group of 12 EU states, including the UK, had been ignored in the draft communique for the European Council summit in Brussels, in favour of proposals from France and Germany.

Treasurys rise on signs of slowdown in Europe

Traders bid up U.S. Treasury debt Friday after economic data from Europe stirred fears of a global slowdown and boosted demand for the ultra-safe investments.

Greece secures provisional approval for new bailout

BRUSSELS (Reuters) - Greece has taken all the legal action needed to secure a second bailout from the euro zone countries, Eurogroup President Jean-Claude Juncker said on Thursday, opening the door to the first tranche to be paid out by March 20 if more conditions are met.

Bernanke Quells Talk of Fresh Fed Stimulus

Federal Reserve Chairman Ben S. Bernanke said elevated unemployment and subdued inflation mean interest rates are likely to stay low, without offering any sign that the economy needs an additional monetary boost.

Emerging-Market Stocks Slide as G-20 Rebuffs Europe Aid

Emerging-market stocks fell from near a seven-month high as the Group of 20 nations declined to boost international resources to aid the euro area, increasing concern that Europe’s crisis will slow the global economy.

Germany’s Crisis Role in Focus After G-20 Rebuffs Call for Help

Feb. 27 (Bloomberg) -- Germany was left to dig deeper to combat the euro-area debt crisis after the Group of 20 nations told Europe to come up with more financial firepower before they consider lending outside support.

G20 moves to line up huge rescue deal for April

MEXICO CITY: The world's leading economies worked on Sunday to line up a deal in April on a second global rescue package worth nearly $2 trillion to stop the euro-zone sovereign debt crisis from spreading and putting at risk the tentative recovery.

EU's Rehn: G-20 Must Provide Roadmap For Extra IMF Contributions

MEXICO CITY -(Dow Jones)- Europe's crisis is a global crisis, and international partners in the Group of 20 should provide a roadmap for additional funding to help stem the sovereign debt crisis, according to the European Union's economics chief.

G20 finance ministers to hold crisis talks in Mexico

MEXICO CITY: G20 finance ministers and central bankers will meet this weekend in Mexico City to discuss the eurozone debt crisis and more money for the IMF following the latest rescue deal for Greece.

Mexico leader looks for G20 financial checks

Mexican President Felipe Calderon, the current G20 chair, called Monday for stricter rules for financial institutions, underlining their shared responsibility in the economic crisis.

Japan's Azumi cool on G20 agreement on IMF cash

The G20 is not yet ready to agree on providing more funds to the International Monetary Fund to fight Europe's debt crisis, Japan's finance minister said Tuesday ahead of a key meeting this weekend.

G20 parliamentary heads to meet in Riyadh

(MENAFN - Arab News) Parliamentary heads of the G20 nations will converge in Riyadh on Friday to discuss a range of regional and international issues within the framework of a parliamentary consultation process started by the G20 member nations in Canada in 2010.

Hillary Clinton heads to G20 talks pushing trade

WASHINGTON: US Secretary of State Hillary Clinton flew Saturday to Mexico for a session of the Group of 20 major economies where her aides said she would push for freer but fairer trade.

Kenya finmin says inflation easing, urges banks to cut rates

NAIROBI (Reuters) - Kenya's acting finance minister said on Tuesday that inflation in east Africa's biggest economy should continue to fall and urged banks to cut lending rates to help the middle class.

BOJ eases policy, sets near-term price goal

TOKYO (Reuters) - The Bank of Japan on Tuesday eased its policy by boosting asset purchases and defined 1 percent consumer inflation as a near-term goal in response to growing calls for more action to help the economy mired in deflation and weighed down by a strong yen.

Barack Obama's $3.8 tn election-year budget goes to Congress

WASHINGTON: President Barack Obama on Monday was selling a a $3.8 trillion election-year budget, a spending outline designed to cut $4 trillion from the deficit in 10 years through spending restraints and higher taxes on the wealthy. Republicans said the plan fails to tackle the nation's deep fiscal problems.

EU won't drop aviation CO2 scheme

(Reuters) - The European Union will not bow to pressure to suspend a controversial scheme to charge airlines for their carbon emissions, but is willing to be flexible in finding a solution to a row that threatens to escalate into a full-blown trade war.

Greece set to agree bailout as Germany demands action

ATHENS: Greek lawmakers looked set to endorse a new and deeply unpopular austerity deal on Sunday to secure a multi-billion-euro bailout and avert what Prime Minister Lucas Papademos warned would be "economic chaos".

Barack Obama urges Congress to extend payroll tax cut

US President Barack Obama urged Congress Saturday to quickly pass an extension of the payroll tax cut to prevent a tax increase on 160 million Americans.

Latvia's move to euro faces big challenges: IMF

WASHINGTON: Latvia faces big economic challenges in its planned adoption of the euro, not the least of which is the eurozone crisis itself, the International Monetary Fund said on Tuesday.

Greek Leaders Struggle for Agreement on Cuts

LONDON — Greek political leaders continued to struggle Wednesday to secure agreement on new austerity measures to be presented to the country’s financial backers in the coming days.

Europe’s Banks Reluctant to Lend to Companies in Need of Cash

LONDON — European governments are not the only ones struggling with debt. So are some of the region’s companies.

Greece Agrees to Harsh New Spending Cuts as Lenders Ratchet Up the Pressure

ATHENS — Pushed against the wall by its foreign lenders, the Greek government agreed on Sunday to drastic new spending cuts but failed to complete an arrangement that would unlock the financing the country needs to prevent default. It agreed instead to resume talks on Monday.

France, German leaders meet amid euro, Syria crises

PARIS (Reuters) - The French and German leaders meet on Monday in Paris for annual talks in which they will seek further economic coordination in the crisis-hit European Union and discuss the escalating violence in Syria.

China's Wen Tamps Down Concerns Over Europe Aid

BEIJING—Chinese Premier Wen Jiabao on Friday sought to assuage concerns over Chinese investment in Europe, saying China has no intention to "buy" the continent.

ECB May Wait for Investor Deal on Greek Swap

The European Central Bank is likely to refuse to show its hand on how it will help cut Greece’s debt burden until investors and the government have agreed to a deal, said economists from ING Group to Deutsche Bank.

Wall Street bets big on Romney

WASHINGTON (CNNMoney) -- Wall Street has thrown its weight behind alum Mitt Romney for president, according to new campaign data for 2011.

Obama Announces Refinancing Plan

President Barack Obama announced a fresh bid Wednesday to revive the housing market by letting millions of homeowners refinance their mortgages, presenting a plan that is likely to encounter congressional opposition.

US home prices drop, consumers turn gloomy

NEW YORK: US home prices fell more steeply than expected in November, and consumer confidence soured in January, highlighting the hurdles still facing the economic recovery.

S&P warns cuts loom for G20 nations on health costs

(Reuters) - Ratings agency Standard & Poor's warned it may downgrade "a number of highly rated" Group of 20 countries from 2015 if their governments fail to enact reforms to curb rising healthcare spending and other costs related to ageing populations.

Calderon Urges G-20 to Do More to Defuse European ‘Time Bomb’

Jan. 27 (Bloomberg) -- Mexican President Felipe Calderon urged the Group of 20 nations to gather more funds to prevent the European debt crisis from destroying the euro and undermining stability elsewhere in the world.

Europe on brink of recession, unemployment above 10%

BRUSSELS: Since the start of the year, one phrase has tripped off the lips of European leaders more than any other: "jobs and growth". After two years of debt crisis and budget austerity, there is a strong desire to shift the narrative on.

Merkel says 'big rethink needed'

Germany's Chancellor Angela Merkel has told the World Economic Forum that a "big rethink" is needed in the eurozone within the global economy.

The SECRET FACEBOOK OF POWER used by global premiers at G20

"It wasn't secret, we just didn't need to tell anyone about it" said Sid Heaslip, Programme manager at Opentext discussing the TOP SECRET FACEBOOK OF POWER that his company made for the G20 summit in 2010, exclusively for the leaders of the world's most powerful nations to network with.

Momentum to drain from world economy in 2012: poll

LONDON (Reuters) - The world economy will lose momentum in 2012 but it will keep moving in the right direction, according to Reuters polls of around 600 economists who said crisis-hit Europe would drag on global growth.

G-20 Looks to Shore Up Sovereign Financing After Mexico Meeting

Jan. 20 (Bloomberg) -- The G-20 agreed on the need to do more to support indebted nations, Mexico’s Deputy Finance Minister Gerardo Rodriguez said.

Greece, creditors close in on debt cut deal

(Reuters) - Greece was closing in on an initial deal with private bond holders on Friday that would prevent it from tumbling into a chaotic default but lose investors up to 70 percent of the loans they have given to Athens.

UK No 1 when it comes to 'cyberpower' - analyst group

The United Kingdom leads other G20 countries in its ability to withstand cyberattacks and develop strong digital economies, according to new research.

IMF seeks $600 bln in new funds, G20 to discuss

WASHINGTON/MEXICO CITY: The IMF is seeking to more than double its war chest by raising $600 billion in new resources to help countries deal with the fallout of the euro zone debt crisis, but the plan faces roadblocks from the United States and other countries.

Analysis: Credit downgrades put onus on Germany

BRUSSELS – One of the defining images of Europe's two-year-old debt crisis is that of the leaders of France and Germany, side by side, presenting their latest strategy for the continent.

Feisty Sarkozy shrugs off French credit downgrade

MADRID (AP) — French President Nicolas Sarkozy bluntly declared Monday that a harsh downgrade by Standard & Poor's of France's formerly top-rung debt rating "changes nothing" for the eurozone's No. 2 economy.

Fed officials say not time to buy bonds now

(Reuters) - Two top Federal Reserve officials, including a policy centrist, said on Friday the central bank should hold off buying more bonds to boost growth given a strengthening in the economy.

Greece holds new talks on bond swap

ATHENS, Greece (AP) — The Greek government will hold a second day of talks Friday with representatives of private bondholders on a crucial debt relief deal, without which it could suffer a catastrophic bankruptcy that would send shockwaves through the global economy.

Italy decrees attack on monopolies and vested interests

Italy's new government is planning a broad, swift attack on the vested interests in Italian society, according to a junior minister.

Wall Street Bonuses May Reach Lowest Level in 3 Years

Wall Street banks will announce their annual compensation and bonuses starting this month, and forecasts are generally expecting cutbacks across the board though the rewards will still be rich at least by non-1 percenter standards.

Draghi May Copy Bernanke on Path to Low Rates

European Central Bank President Mario Draghi may act more like Ben S. Bernanke than Jean-Claude Trichet in 2012.

Germany Resists Europe's Pleas to Spend More

FRANKFURT — Spain, Italy and Greece are sharply cutting public spending because they have no choice. But Germany is still healthy enough that it could do its troubled trading partners a favor and focus more on promoting demand and less on cutting debt.Could, but almost certainly will not.

Wall Street is bracing for a dismal 4th quarter

For most Wall Street bankers, 2011 was a year they would rather forget. Investors will soon find out just how bad that year was for the country's biggest financial institutions.

Geithner to discuss Iran in China, Japan visit

(Reuters) - Treasury Secretary Timothy Geithner will travel to China and Japan next week to discuss U.S. sanctions on Iran and the state of the global economy with top government officials, the Treasury Department said on Wednesday.

Hungary under pressure to change course

(Reuters) - Pressure grew on Hungary to change its policies to satisfy international lenders on Tuesday after bond yields jumped above 10 percent and the European Commission told the government to safeguard the central bank's independence.

On Wall Street, a Renewed Optimism for Deals

Before Europe’s debt crisis flared anew last summer, rattling markets and choking off a revival in mergers and acquisitions, huge corporate cash piles and cheap debt had fostered hopes that deal-making would recover strongly last year.

German, French stocks up in light trading

FRANKFURT, Germany (AP) — Global stock markets opened a risk-filled new year still smarting from a rough 2011, as many exchanges remained closed. German and French stocks rose in light volumes as a a reading of manufacturing activity in Europe improved.

Crisis talk, austerity calls mark euro anniversary

BERLIN (Reuters) - Policymakers marked the 10th anniversary on Sunday of the introduction of euro notes and coins by urging governments in the currency bloc to save and consolidate to overcome their debt crisis.