Italy falls back into recession

Italy's economy has fallen back into recession, latest official figures show, after contracting for two quarters in a row.

China Reform Plan Sets Scene for Local Clampdown: Economy

China’s Communist Party signaled a bigger focus on fiscal concerns during President Xi Jinping’s tenure, setting the scene for a clampdown to control the finances of indebted regional authorities.

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.

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.