Behind the scenes in the six-day war to save the euro

The guardians of the euro arrived in Brussels last week knowing their efforts to quell the Greek debt crisis over the past two years had failed to build confidence.

Savings rate falls to lowest level since 2007

The good news is, a recent pick-up in consumer spending is fending off fears of another U.S. recession.

Americans spent more in Sept., but saved less

Americans spent in September at three times the pace of the previous month, even though their incomes barely budged. They financed their spending binges by saving at the lowest level since the start of the Great Recession.

Shell and Exxon see profits up sharply on oil prices

Higher gas and oil prices have pushed up profits at ExxonMobil and Royal Dutch Shell during the three months to the end of September.

Norway may help euro zone if asked

Norway says it would consider using some of its North Sea oil wealth to strengthen the euro zone rescue fund if asked.

States to speed up austerity, embrace 'limited' treaty change

Leaders of the EU's 27 member states met on Sunday (23 October) with little fresh to show in the face of the biggest crisis in the bloc's history, but did back a "limited" change to the EU treaty to deliver stronger economic convergence amongst eurozone countries.

IMF Sees Strong Growth In Africa, But Global Economy Poses Risks

JOHANNESBURG -(Dow Jones)- Sub-Saharan Africa will grow by 5% on average this year and 5.75% in 2012, though fallout from global financial volatility poses serious risks for the region's most developed economies, the International Monetary Fund said Wednesday.

"The main threat to economic activity in the region is the strong possibility that global growth will decelerate further," the IMF wrote in its regional economic outlook for sub-Saharan Africa.

Indian outsourcers hit by global economic worry

MUMBAI — Shares in India's biggest IT outsourcing firms sank on Tuesday on concerns that rising global economic uncertainty in key markets will hit future growth of the country's flagship sector.

India's largest software exporter Tata Consultancy Services closed down 7.71 percent to 1,033.50 rupees -- the company's sharpest single-day fall in a year a day after its latest quarterly growth data lagged estimates.

Europe close: Bourses mixed on global economic fears

LONDON (SHARECAST) - European markets finished mixed on Tuesday after a topsy-turvy day, but bourses recovered from their daily lows after a better start on Wall Street. However, early on, the mood was dampened by uncertainties concerning France’s credit rating and some worrying data from China.

The Cac in Paris finished 25 points down at 3.141. the Ibex in Madrid was 53 under at 8,811, while the Dax rose 18 to 5,877 in Germany.

Italy and Spain need ‘bazooka’ to avoid insolvency: Roubini

A Greek default could trigger a global economic shock on the scale of that suffered after Lehman Brother Holdings Inc.’s 2008 failure, said Nouriel Roubini, chairman and co-founder of Roubini Global Economics LLC.

A disorderly default by a member of the euro area or an exit from Europe’s single currency bloc could cause a shock “that would reverberate through the global economy,” Roubini said at a seminar in Helsinki Monday organized by Evli Bank Oyj.

The global jobs challenge

Over the past three decades, hundreds of millions of new workers have entered the global economy. They arrived with various levels of education and skill, and over time have generally gained in terms of “human capital” – and in terms of value added and income. This has brought a tremendous, and ongoing, growth in income levels, opportunities, and the size of the global economy. But these new workers have also brought more employment competition and significant shifts in relative wages and prices, which is having profound distributional effects.

Is the global economy facing a global banking crisis?

So it's official. The French-Belgian specialty bank Dexia is the first financial institution to fall victim to Europe's debt crisis. In a deal hammered out by the governments of France, Belgium and Luxembourg, Dexia will be dismantled, with the Belgian government nationalizing the local operations of the bank.

Taxpayers are also on the hook for $120 billion in credit guarantees. I can't imagine that Dexia will be the only bank in Europe to meet this fate as the euro crisis continues to boil. Banks across the region hold festering compost heaps of rotting sovereign debt, spoiling the strength of their balance sheets. Some have holdings bigger than their capital. Greek banks are so exposed to their faltering government that I can't see how they dodge a bailout. French banks have been under pressure as financing has dried up. And with talk of a do-over for the proposed second bailout of Greece, as that nation's financial position continues to deteriorate, banks across Europe could be facing larger losses on their holdings of Greece's sovereign bonds.

TSMC sees weak global economic growth over next year

TSMC, the world's top contract chip maker, expects weak growth in the global economy over the next 12 months, its chairman said on Wednesday.

"You can be assured that the economies of Europe, the U.S., Japan and China will not be good over the next year," chairman Morris Chang said at a business event.

"Economic security" should be top priority in Asia

KUWAIT, Oct 10 (KUNA) -- The scheduled 10th Asia Cooperation Dialogue got underway here on Monday under sponsorship of His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah, with the foreign minister of the host Gulf state stressing that "economic security" should top strategies of the Asian nations.

Speaking at the inaugural session, the Deputy Prime Minister and Foreign Minister Sheikh Dr. Mohammad Sabah Al-Salem Al-Sabah, expressed gratitude to HH the Amir for sponsoring "this crucial Asian event, saying in part, "Your sincere interest in the aspirations and affairs of the Asian nation will serve the causes of the peoples of Asia, and these issues will be included in the agenda of the meeting." Asian nations should seek to rise to the challenges and address issues of common interest. The extraordinary events happening in our nations warrant efforts that match the volume of these challenges, Sheikh Mohammad said, stressing that conferees should seek practical plans to meet aspirations of the Asian peoples.

China undermining economic recovery and U.S. security

Communist regime has erased 10 million U.S. jobs and stolen priceless intellectual property

With a fledgling economy the focus of the 2012 presidential campaign, there has been one glaring omission from the debate so far: the failure of our current trade policy, particularly with China. Trade policy affects national security by putting the safety of our people and their jobs at risk.

Cameron: 'Moment of danger' for global economy

David Cameron has said the world economy is at "a moment of danger" as a result of the eurozone crisis.

He told BBC political editor Nick Robinson there were "serious clouds on the horizon" and it was "absolutely vital" to stabilise the euro.

After that was done, he said, there must be "more on the growth front" in the UK to get the economy moving.

IMF Sees Higher Risks to Global Growth

A further slowdown in the U.S. economy and a deterioration in the euro-zone debt crisis pose potential risks to , which remains weak three years after the global financial crisis, a senior International Monetary Fund global economic growth official said Monday.

Deputy Managing Director Zhu Min said downside risks to the IMF's global economic growth projections have increased "as of late." The IMF two weeks ago slashed its forecasts, predicting global growth will slow to about 4% this year and next year from 5% in 2010.