Pascal Lamy, head of the World Trade Organization, confirmed on Thursday that growth in global trade would remain below four percent this year and urged governments against protectionism
The International Monetary Fund on Thursday voiced steadfast support for debt-riddled Greece ahead of next week’s return of international inspectors overseeing its progress under a rescue program.
Ford Motor Co has been sued for allegedly infringing a patent that covers a fuel-injection system it uses in its top-selling F-150 truck.
High borrowing costs for some European countries compared with Germany’s may justify market intervention by the European Central Bank, French President Francois Hollande said.
Warren Buffett has decided to increase significantly the amount of stock he gives the foundations run by his three children, so they will each eventually get roughly $2.1 billion.
Spain will create a bad bank on Friday that will need to pay Spanish banks enough for their sour assets to make them viable without saddling the state with too much of the debt.
French President Francois Hollande called on Europe’s leaders to make serious headway in introducing measures to ease the pressure on countries such as Spain.
World food prices jumped 10 per cent in July as drought parched crop lands in the United States and Eastern Europe, the World Bank said.
US justice authorities are broadly probing Chinese banks over their business with Iran, The New York Times reported Thursday, after one Chinese bank was hit with sanctions in late July.
US retailers like Target, Costco report strong gains for August. Americans kept spending in August despite their escalating fears about the slow economic recovery and surging gas prices. Last month’s rise in consumption, which accounts for 70 pc of US economic activity, was in line with economists’ expectations.
Greek Finance Minister Yannis Stournaras said that the basic framework of savings needed to unlock an installment of EU-IMF loans had been finalised
New claims for US unemployment insurance benefits held steady last week, the Labor Department said Thursday, a fresh sign of stabilization in the pace of layoffs.
Former Greece PM George Papandreou said the country might have avoided a bailout if the economy had not been robbed by funds being funnelled to tax havens.
Switzerland’s economy grew by 1.9 percent last year, according to an estimate released on Thursday by the Federal Statistical Office (FSO), well below the 2010 rate of 3.0 percent.
International air passenger traffic rose 3.5 pc in July year-on-year although the growth rate has slowed.
Expressing alarm at Europe’s debt problems, Chinese Premier Wen Jiabao called on Greece, Spain and Italy to embrace budget cuts.
Greece’s PM has promised that a new round of painful austerity measures planned for the next two years will be the last for the recession-mired country
Japan’s Nippon Steel warned of a huge $1.97 bn loss in the first half of its fiscal year mainly owing to a write down in value of struggling domestic plants
Euro zone economic sentiment deteriorated much more than expected in August underlining the slowdown in the euro zone economy.
The Federal Labor Agency says the number of jobless in Germany rose slightly in Aug as the economy slowed but the unemployment rate remained unchanged at 6.8%.
Inflation in Spain picked up to an annualised 2.7% in Aug, from 2.2% in July, the second consecutive month that the rate has risen
British bank Barclays has named retail and business banking head Antony Jenkins as its new chief executive.
Angela Merkel said on Thursday there was “absolute political will” to strengthen the euro, as she held talks with China’s premier Wen Jiabao on the eurozone crisis.
China signed an agreement with Germany for 50 Airbus planes worth $3.5 bn as German Chancellor Angela Merkel began her visit to China, state news agency Xinhua said.
Expectant eyes across the globe will be on Bernanke, looking for assurances that the US economy is solid or, if not, that his Fed is ready to invest more to stimulate growth.
Australia, known as the lucky country for its resource abundance and temperate climate, is about to find out how long its latest winning streak will last.
Warren Buffett, near 82, reflects on staying in Nebraska. The decidedly low-key lifestyle in Omaha, where Buffett was born and where he’s lived continuously since 1956, is a key reason he chose to remain there.
To attract more technology firms, Britain is considering new rules that would make the London Stock Exchange (LSE) more attractive to startups.
The ECB “will always act within the limits of its mandate,” Draghi wrote in a commentary for German newspaper Die Zeit provided by the Frankfurt-based ECB on Wednesday.
Bank of America Corp on Wednesday said it will provide customers with new, easy-to-read statements with information about fees for consumer and business checking accounts, following similar steps by other banks
Analysts say the disaster at the Amuay refinery could also mean a financial hit for state-run Petroleos de Venezuela SA by forcing it to further increase imports of fuel for domestic consumption.
Prime Minister Jean-Marc Ayrault said Paris was determined to press ahead with Berlin on stronger economic governance in Europe to resolve the debt crisis
Scandal-hit Barclays bank says it’s facing yet another investigation _ this one relating to the billions it raised from Middle Eastern investors back in 2008.
Hurricane Isaac has caused up to $1 billion in economic losses for offshore energy properties and up to $1.5 billion in insured losses onshore in Louisiana and neighboring states.
SEC voted 4-1 to issue the plan that would allow cos to advertise to investors so long as they take “reasonable steps” to verify that purchasers are “accredited investors.”
Driven by fears of a bumpy economic landing, the yuan is now clearly in a two-way market, being roughly flat over the past year against the dollar and with forward delivery markets discounting a loss in the coming 12 months.