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.