G20 body says U.S. could improve financial risk spotting

LONDON (Reuters) - The United States could improve how it spots and prevents risks in the financial system from turning into destabilizing crises, a global regulatory task force said on Tuesday.

Free Trade and (Not So) Free Health Care: A Discussion in Advance of President Obama’s Visit to Sweden

President Obama will travel to Stockholm, Sweden, for a September 4-5 visit en route to the G20 Summit meeting in St. Petersburg, Russia.

China joins G20-led global crackdown on tax evasion

PARIS: Global efforts led by G20 countries, including India, to combat tax avoidance and evasion got a boost today with China signing a key convention to share tax records under the aegis of OECD here.

Lew to Congress: Raise debt ceiling before mid-October

The United States will reach the limit of its borrowing authority in mid-October, Treasury Secretary Jack Lew said Monday.

Euro-Area Consumer Confidence Rises More Than Estimated

Euro-area consumer confidence increased more than economists estimated in August, as the economy of the 17-nation currency bloc gathers strength after a record-long recession.

Greece may get another $13.36 billion: EU official

BERLIN: Germany's commissioner to the European Union says he expects a future aid package for Greece to amount to a little more than 10 billion euros ($13.36 billion) which is much smaller than the country's existing two rescue deals.

Fed policy under fire at Jackson Hole conference

(Reuters) - What a difference a year makes. Federal Reserve Chairman Ben Bernanke used the 2012 meeting in Jackson Hole as a platform to make his case for a third round of bond buys.

Gold flows from Britain to Switzerland surge in H1: Macquarie

LONDON: Britain's gold exports to Switzerland surged in the first half of this year, Australian bank Macquarie said on Monday, suggesting bullion being sold out of exchange-traded funds may be heading for Swiss refineries before being sold on in Asia.

Kenya Fights Off Port Competition With $13 Billion Plan: Freight

East Africa’s biggest port at Mombasa in Kenya is fighting off competition from neighboring Tanzania by expanding railways and building new berths to tackle congestion.

Greece will need more aid: German finance minister

BERLIN: Germany's finance minister says Greece will need another aid program, but it won't be granted a second debt writedown.

Thailand's economy falls into recession

Thailand has fallen into recession after the economy shrank unexpectedly in the second quarter of the year.

EU wants one definition of bad loans for bank tests: Source

LONDON/FRANKFURT: Banks across the European Union will be asked to use a single definition for bad loans in the upcoming review of their loan books, a senior EU regulatory source told Reuters, making it harder for banks to conceal the state of their businesses behind local conventions.

Industrial Output in U.S. Was Unchanged in July, Fed Says

Industrial production in the U.S. was unchanged in July as a slowdown at factories overshadowed an increase in mining. The reading for output at factories, mines and utilities followed a 0.2 percent gain the prior month that was smaller than previously reported, a report from the Federal Reserve showed today in Washington.

Portugal economy jumps back to life in second quarter

LISBON: Portugal's economy jumped back from a deep slump in the second quarter with gross domestic product rising 1.1 per cent after dipping 0.4 per cent in the first quarter, data showed on Wednesday.

China set to become world's biggest net oil importer

BEIJING: China is set to overtake the United States to become the world's largest net oil importer from October, according to US figures.

Greek recession eases to 4.6% in sixth year of crisis

ATHENS: Recession in the Greek economy eased in the second quarter, official data showed on Monday but some circles are sceptical that the country can climb out of crisis without new help.

Japan's economic growth slower than expected at 2.6%

Japan's economy grew 2.6% last quarter, slower than expected, as companies wary about the prospects for a sustained recovery kept a tight rein on investment.

Greek unemployment rate hit record high in May

Greece's unemployment rate hit another record high in May of 27.6%, according to the country's statistics body.

New Data Suggest a Pause in China’s Slowdown

HONG KONG — China’s economy faces major structural challenges in the coming years, but for now, the slowdown of the recent past may have bottomed out.

Mark Carney says forward guidance should boost economy

New Bank of England Governor Mark Carney has said that his new regime should boost the UK's economic growth.

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

“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.

Pension gap widens at FTSE 100 companies

The pension deficit at the UK's largest companies has grown slightly, according to a report by pensions expert LCP.

BIS blames Europe's creditors for eternal euro crisis

Europe's creditor powers bear as much blame as debtors for the eurozone's eternal crisis and are blocking recovery by failing to play a full part in righting the ship, according to the Bank for International Settlements.

Cross currents to slow but not halt Chinese growth

LONDON: China's monthly data deluge is likely to confirm that the world's second-largest economy is still moving down through the gears but is not about to come to a screeching halt.

U.S. consumer spending, inflation rise in June

(Reuters) - U.S. consumer spending increased and inflation pushed higher in June, which could strengthen expectations that the Federal Reserve will curtail its bond purchases later this year.

Merkel Challenger Steinbrueck Climbs Mountain to Raise Profile

German Social Democratic challenger Peer Steinbrueck took to the Bavarian hills with about 150 party sherpas, SPD members and media in tow, seeking to burnish his profile as poll ratings slump.

OECD and G20 tax reforms: key points

The Organisation for Economic Co-operation and Development (OECD) has won backing from the G20 group of industrialised nations for the first internationally co-ordinated attempt to clamp down on tax avoidance.

China manufacturing activity sees mixed data

China's manufacturing sector saw mixed fortunes in July, underlining concerns of a slowdown in its economy.