Canadian job creation seen sharply lower in December

OTTAWA (Reuters) - Canada's job market is expected to slow markedly in December to reflect the sluggish economy and employers' fears about the U.S. fiscal crisis following outsized gains of over 50,000 jobs in two of the previous three months.

Italy Sells Bonds as Borrowing Costs Hold Near Two-Year Low

Italy sold 5.9 billion euros ($7.8 billion) of bonds today with rates holding near the lowest in two years amid optimism caretaker Prime Minister Mario Monti will play a role in the next government.

Back To The Economy Of The '90s? Not So Fast

Throughout the debate over taxes and the "fiscal cliff," there's been a lot of looking backward — to the 1990s. The economic expansion of the 1990s was the longest in recorded American history.

Turkey Central Bank Unveils New Tool to Limit Bank Debt Risk

Turkey’s central bank announced a new policy tool today to limit risks of excessive debt in the banking system by placing higher reserve requirements on banks that fail to meet specified leverage ratios.

Fragile Egypt economy overshadows Mursi's vote win

CAIRO (Reuters) - Egyptian President Mohamed Mursi will have little time to savour victory in pushing through a new constitution as it may have cost the Islamist leader broader support for urgent austerity measures needed to fix the creaking economy.

U.N. Security Council authorizes military mission in Mali

United Nations (CNN) -- The United Nations Security Council on Thursday authorized a military peacekeeping mission in Mali to help the once-stable country retake its vast northern region from Islamist rebels.

North Korea leader urges development of bigger rockets

SEOUL: North Korean leader Kim Jong-Un has ordered the development of bigger rockets, state media said Saturday, after Pyongyang sparked international condemnation with a long-range rocket launch.

Japan says economy's condition stable, but weak

TOKYO: Japan's economic condition stopped worsening, the outgoing government said on Friday in a monthly report, but it remains weak enough to justify a nudge from monetary and fiscal stimulus planned by the newly elected administration.

IMF Staff Rejects Audit Findings on Foreign Reserve Focus

The International Monetary Fund staff rejected criticism by an internal auditor that the organization focused too much on countries’ foreign assets accumulation and said the report “misconstrues the motives of the fund.”

ECB'S Praet says France must cut spending and reform

PARIS (Reuters) - France must cut spending to meet its budget deficit target and undertake structural reforms to boost competitiveness, European Central Bank Executive Board Member Peter Praet said on Tuesday.

Hopes rise for "fiscal cliff" deal as Obama, Boehner meet

(Reuters) - President Barack Obama and top Republican John Boehner met at the White House on Monday as hopes rose that Washington will be able to head off steep tax hikes and spending cuts that could push the economy into recession next year.

China to continue property market control policies in 2013 to check excessive speculation

BEIJING: China's new leadership today said it would continue the nation's property market control policies next year in order to keep a check on excessive speculation, which in the recent past made housing virtually un-affordable for middle and low income groups.

Canada November inflation still well below target

OTTAWA (Reuters) - Canadian inflation likely remained tame in November as gasoline prices fell and economic growth remained sluggish, keeping pressure off the Bank of Canada to resume raising interest rates.

Merkel sets limits on euro zone risk-sharing

BRUSSELS: European leaders agreed on Friday t o press on with further steps to tackle t hei r debt crisis bu t German Chancellor Angela Merkel threw out a proposal to boo st risk-sharing with a fund to help eur o zone states in trouble.

Boehner: White House willing to "slow-walk" up to "fiscal cliff"

WASHINGTON (Reuters) - Speaker of the U.S. House of Representatives John Boehner on Thursday again rejected President Barack Obama's demand for increased power to raise the U.S. debt and charged that the White House seems willing to "slow-walk our economy right up to the 'fiscal cliff.'"

IMF needs to do more to detect global financial risk: Report

WASHINGTON: The International Monetary Fund must do more to quantify financial risks around the world and monitor how each country's policies impact its neighbors, IMF staff said on Tuesday.

Syrian economy to shrink 20 percent in 2012: IIF

BEIRUT (Reuters) - War-ravaged Syria's economy will shrink by a fifth in 2012 and all its foreign reserves could be spent by the end of next year, a global finance industry association said on Monday.

Global shares fall, euro slides as Monti deepens Italy uncertainty

(Reuters) - The euro slipped towards a two-week low on Monday while shares and Italian bond prices also fell after Italian Prime Minister Mario Monti's decision to resign deepened euro zone uncertainty.

Obama says he's ready to work with Republicans to avoid "fiscal cliff"

WASHINGTON (Reuters) - President Barack Obama, accused by Republican House Speaker John Boehner of pushing the country toward the "fiscal cliff," said on Saturday he was ready to work with congressional Republicans on a comprehensive plan to cut budget deficits as long it included higher taxes on the wealthy.

Eurozone will continue to muddle through

Over the coming 18 months, prospects for economic activity in the euro area are bleak. Within the recently published Goldman Sachs Euro Area Outlook note, we forecast that the current recession will extend well into next year, with at best sub-trend growth envisaged for 2014.

German industrial orders recover in October

BERLIN (AP) — Industrial orders in Germany rebounded strongly in October, growing by 3.9 percent compared with the previous month, sending an unexpectedly hopeful signal about the strength of Europe's biggest economy.

UK Treasury chief juggles budget as outlook dims

LONDON (AP) — Britain's Treasury chief George Osborne said Wednesday that the recovery of the U.K. economy is taking longer than he had hoped and warned more spending cuts will be needed to get public finances under control.

Portugal does not seek Greek-style debt deal: Prime Minister Pedro Passos Coelho

LISBON: Portugal will not seek changes to obtain lower interest rates on its bailout loans as Greece received and is respecting targets laid down by creditors, Prime Minister Pedro Passos Coelho said on Tuesday.

US charges 'Big Four' accountants over China

The US financial regulator has charged the Chinese units of five accounting firms - including the so-called Big Four - over refusing to hand over auditing data on China-based companies.

We are coming after wealthy tax dodgers, George Osborne said today

George Osborne has prepared the ground for a damaging admission in Wednesday's autumn statement that lower than expected growth means he will breach the second of his fiscal targets, on reducing debt as a proportion of national income by the end of the parliament.

German VDMA: Foreign Demand Keeps German Machine Orders in Plus

German plant and machinery orders grew again in yearly terms in October, the country's engineering association VDMA said Thursday.

Fitch warns France could be downgraded next year

(Reuters) - Fitch Ratings could strip France of its triple-A credit status next year if the country fails to meet its targets on debt reduction and its economy performs worse than forecast, one of the agency's top sovereign experts warned on Wednesday.

Federal Reserve should keep rates low until unemployment hits 6.5%, says Charles Evans

TORONTO/BERLIN: Deep divisions at the Federal Reserve were on display on Tuesday, just two weeks before the US central bank's next policy-setting meeting, with one top Fed official pushing for more easing, and another advocating limits.

Greek bailout deal is a classic fudge – but should work for now

There was something for everyone in the latest Greek debt deal. Athens gets enough money to stop the country going bust, Angela Merkel has done enough to keep Greece in the euro until after next year's German elections.

Italian consumer confidence falls to record low in Nov

ROME (Reuters) - Italian consumer confidence has hit a record low this month, battered by a bleak economic outlook and squeezed family finances, data showed on Monday.

Russia's Medvedev criticizes France for backing Syrian rebels

(Reuters) - Russian Prime Minister Dmitry Medvedev, speaking before a visit to Paris on Monday, criticized France's support for the Syrian opposition and accused European Union leaders of indecisiveness in dealing with the region's economic crisis.

ECB chief Mario Draghi sees 'relative return' of eurozone confidence

FRANKFURT: European Central Bank president Mario Draghi told a banking conference on Friday that there had been a "relative return of confidence" in the future of the eurozone.

China's Economy May Be Turning The Corner

China’s economy may be turning the corner, according to the just released China HSBC Flash Manufacturing Index (PMI), which rose to 13-month high of 50.4 in November.

Forget Nobel Peace Prize, EU launches summit warfare

BRUSSELS (Reuters) - The European Union may have won the Nobel Peace Prize this year, but to many EU leaders, officials, diplomats and even journalists, it can feel more like a torture chamber.

Italy, Germany, Poland appeal against euroscepticism

NAPLES, ITALY: Italy's President Giorgio Napolitano and his German and Polish counterparts launched an appeal on Monday for unity in the face of growing euroscepticism as the European economic downturn drags on.

Clinton says budget deal critical to U.S. global role, security

SINGAPORE (Reuters) - U.S. Secretary of State Hillary Clinton said on Saturday that reaching a deal to resolve America's budget crisis is critical to its global leadership and national security and would bolster efforts to project U.S. economic power around the world.

Bernanke blames banks for holding back housing market

Ben Bernanke has said that the overly stringent lending requirements of banks are hurting the US housing recovery.

Japan election may ease economic gloom

HONG KONG (CNNMoney) -- Japan's prime minister dissolved the lower house of parliament Friday to avoid a disastrous freeze in government spending, triggering elections that could result in more aggressive policies to stimulate the country's economy.

Russia expects new Chinese leadership to deepen ties

MOSCOW (Reuters) - Russia said on Thursday the naming of a new leadership in China would lead to stronger relations between the political and economic heavyweight neighbors.

U.K. growth slowing as Europe weakens

LONDON (CNNMoney) -- The U.K. economy may contract further in the fourth quarter, and growth will be subdued for the foreseeable future, as the eurozone crisis dampens demand for exports, the Bank of England said Wednesday.

'Fiscal cliff' already affecting US economy: Bank of America CEO Brian Moynihan

WASHINGTON: Fiscal brinkmanship in Washington is already affecting the U.S. economy as worried businesses invest less in equipment, Bank of America Corp Chief Executive Brian Moynihan said.

Merkel insists on austerity despite protests

LISBON, Portugal (AP) — German Chancellor Angela Merkel took her fiscal discipline message to bailed-out Portugal on Monday, tolerating Nazi jibes from a small group of protesters as she advocated the benefits of austerity and economic reforms.

Barack Obama urges immediate tax cut extension for middle class

Congress Saturday to immediately extend a tax cut for middle-class Americans, arguing the move will give 98 per cent of families and 97 per cent of small businesses the certainty that will lead to faster economic growth.

China says effectively turning the corner on the economy

BEIJING (Reuters) - China announced on Saturday that it is effectively turning the corner on the economy and likely to meet its growth target for the year, more good news for Communist Party policy makers meeting in Beijing to anoint new leaders for the next decade.

Greece seeks urgent bridge financing

Greece is to make an urgent bid to raise funds from the financial markets in case it does not get another tranche of bailout aid in time to repay debts.

US jobless claims fall though storm distorts data

WASHINGTON: The number of Americans filing new claims for unemployment benefits fell last week, a sign the labor market's slow recovery was gaining traction although a severe storm distorted the data.

Canadian PM Harper says he fears greater global protectionism

NEW DELHI (Reuters) - A trend toward greater protectionism was pushing the world toward a prolonged recession, Canadian Prime Minister Stephen Harper said on Wednesday, although he added an economic catastrophe could be averted.

France to raise VAT to fund company tax breaks

The French government has said it will raise value added tax and cut public spending in order to fund tax credits for firms that keep jobs in France.

Hungary says EU cut in its funds would be a shame

(Reuters) - The European Union risks undermining the credibility of its drive against national budget overshoots if it strips Hungary of structural funds as punishment for running an excessive deficit, a leader of the ruling Fidesz party said.

South Sudan could pump some oil by end-Nov: minister

JUBA (Reuters) - South Sudan could resume producing up to 230,000 barrels per day (bpd) of oil within a month, its oil minister said on Saturday, after a nine-month shutdown that has battered the country's economy.

Obama, Romney take aim at key Midwestern swing states

HILLIARD, Ohio (Reuters) - President Barack Obama and Republican Mitt Romney made late pitches in the political battlegrounds of the upper Midwest on Friday, a region likely to decide the winner in next week's closely fought election for the White House.

Indonesia Growth Seen Exceeding 6% Reduces Need for Rate Cut

Indonesia’s economic growth probably held above 6 percent last quarter, as domestic spending and rising investment countered falling exports, giving the central bank room to refrain from cutting interest rates.

Greek Stocks Tumble Amid Concerns on Government Stability

Greek stocks are headed for the biggest weekly retreat in four years as coalition government lawmakers squabble over austerity measures needed to guarantee the flow of bailout funds and keep the nation in the euro.

Canada economy shrinks in August, clouds outlook

OTTAWA (Reuters) - The Canadian economy shrank in August for the first time in six months, an unexpected contraction that pointed to a sharp slowdown in third-quarter growth and reinforced the Bank of Canada's message that interest rate hikes are less imminent.

Iran pulls back from nuclear bomb goal: Israeli defense minister

LONDON (Reuters) - Iran has drawn back from its ambitions to build a nuclear weapon, Israel's defense minister was quoted as saying on Tuesday, while warning that his country may still have to decide next year whether to launch a military strike against it.

UK consumer lending hits 4-year high

Lending to UK consumers rose at the fastest pace in four and a half years in September and mortgage approvals hit a four-month high, according to official data.

Mario Draghi backs Wolfgang Schaeuble's 'super commissioner' plan

The head of the European Central Bank has thrown his weight behind a German scheme to allow the EU to intervene in countries' budgets and propose changes before they are agreed in parliaments.

Greek opposition rejects new cuts but won't force poll

PARIS (Reuters) - Greece's opposition leader denounced international lenders' demands as dealing the "final blow" to a devastated economy but said on Friday he would not seek to bring down the government.

Germany not immune to eurozone slowdown

Germany is not immune to the contraction in the eurozone, as the European Central Bank's Mario Draghi defends bond-buying and Greece claims an austerity victory.

Canadian retail sales disappoint in August

TORONTO (Reuters) - Canadian retail sales rose less than expected in August from July while volume fell, suggesting debt-laden consumers will provide only limited support to broader economic growth in the third quarter.

German economy may stagnate as crisis drags on powerhouse

The German economy could grind to a standstill by the end of the year amid the combined impact of the debt crisis and the global slowdown, the Bundesbank has warned.

Why debt is a threat to national security

NEW YORK (CNNMoney) -- The national debt is not on the official agenda for Monday's presidential debate on foreign policy.

Britain seems to be saying "bye bye" to EU, says Finland

(Reuters) - Britain's policy towards Europe is becoming harder to understand and there is a sense the country is slowly waving goodbye to the European Union, Finland's Europe minister said on Thursday.

Economy starting to stabilise: China's Wen Jiabao

BEIJING: China's Premier Wen Jiabao said the economy began stabilising in the past three months and should meet 2012 targets, state media said Wednesday, a day before third-quarter growth data are released.

Samaras Faces Coalition Revolt Over Lenders’ Demands

Greek Prime Minister Antonis Samaras faces a growing revolt from his coalition partners as representatives of the country’s lenders press for more changes to the country’s labor market as a condition for releasing further bailout funds.

Iran: New EU sanctions 'inhuman' and ineffective

TEHRAN: Iran on Tuesday denounced the new European Union sanctions as ``inhuman,'' vowing they will not force any retreat on the country's suspect nuclear program.

Fed's Williams says U.S. must get fiscal house in order

SAN FRANCISCO (Reuters) - The United States must trim the deficit and control the national debt, but take care not to jeopardize the recovery by moving too fast or cutting critical areas of government spending, a top Federal Reserve official said on Monday.

Greece under pressure to bolster cuts for debt deal: Official

ATHENS: Greece was under pressure from international creditors to beef up a controversial austerity package in return for loan relief, officials said as Prime Minister Antonis Samaras said a deal was in sight.

Singapore economy contracts 1.5% but avoids recession

Singapore's economy contracted in the July to September period, but has narrowly avoided a technical recession.

Europe accuses U.S. of failing to cut Boeing aid

(Reuters) - The European Union accused the United States on Thursday of ignoring a World Trade Organization ruling to stop subsidies to planemaker Boeing (BA.N) and asked the Geneva-based body to investigate, prolonging the world's largest trade dispute.

IMF chief Christine Lagarde urges eurozone and US action to end 'terrifying and unacceptable' jobless rates

Christine Lagarde has called for decisive action from world leaders to end uncertainties in the global economy that are prolonging “terrifying and unacceptable” levels of unemployment.

Finance leaders to address global economic threats

WASHINGTON (AP) — When global finance ministers meet this week in Tokyo, they'll confront a triple challenge: Economic troubles in three major regions are threatening the world's economy.

China Q3 GDP growth seen slowing for 7th straight quarter

BEIJING: China's annual economic growth probably slowed for a seventh straight quarter in the July-September period to the weakest level since the depths of the global financial crisis, a Reuters poll showed, reinforcing the case for further policy stimulus.

Iran government likely to win battle of wills over currency

DUBAI: A battle of wills between Iran's government and foreign exchange traders may end with authorities taking over all legal trade in the rial, leaving many Iranians to seek hard currency illegally in a poorly supplied black market.

Euro zone recovery to take years: ECB's Coeure

FRANKFURT: The euro zone economy will not operate at its full potential again for many years, but will emerge stronger, European Central Bank Executive Board member Benoit Coeure said in an interview published on Saturday.

Boost for Obama as US jobless rate falls to four-year low

The US unemployment rate has dropped to its lowest level in almost four years, giving President Barack Obama a boost as the presidential race enters its final month.

South Korea resumes Iranian oil imports: Report

SEOUL: South Korea has resumed imports of Iranian crude oil after halting them in July due to Western sanctions targeting Tehran's nuclear programme, a report said today.

German Chancellor Angela Merkel to harden her stance on additional help for Greece and Spain

BERLIN: German Chancellor Angela Merkel is hardening her stance on additional help for struggling euro zone economies like Greece and Spain as pressure from parliamentary allies and a looming election campaign shrink her room for manoeuvre in Europe.

China services industry slows as economy cools

China’s services sector last month grew at its weakest pace since at least March 2011, raising fears over an economic slowdown that officials are struggling to manage.

World Bank Sees Long Crisis Effect

WASHINGTON—The European debt crisis could weigh on the world economy for years, forcing policy makers to rethink their approaches to restoring growth and boosting job creation, the World Bank's new chief economist said in an interview Monday.

Iran's rial hits an all-time-low against the US dollar

Iran's currency, the rial, fell as much as 18% on Monday to a record low against the US dollar, according to media reports.

China's Economy Signals Continued Contraction in Manufacturing

BEIJING—A gauge of manufacturing activity in China rose slightly in September but remained in contractionary territory for the 11th consecutive month, indicating that the world's second-largest economy is still slowing.

Fed's Fisher says U.S. "drowning in unemployment"

RICHARDSON, Texas (Reuters) - The United States is "drowning in unemployment," its economy is running at stall speed and inflation is "not a problem," but easier monetary policy is not the answer, one of the Federal Reserve's most hawkish policymakers said on Friday.

Shadow banking looms over China as economy struggles

China's slowing economic growth is putting the spotlight on the quality of loans - both within the country's official banking sector and beyond.

Spain's crisis flares again as AAA club scuppers bank rescue deal

Spain's debt crisis has returned with a vengeance after Germany, Holland and Finland reneged on a crucial summit deal and scuppered hopes of direct eurozone help for Spanish banks.

US presidential elections: Mitt Romney, Barack Obama speeches face off on overseas issues

NEW YORK: The US presidential candidates laid out their visions of America's role in the world on Tuesday with dueling foreign policy speeches shaped by violent protests in the Middle East and their closely fought campaign at home.

IMF hints at more time for Greece to implement hardline austerity

The International Monetary Fund dropped the broadest of hints on Monday night that it would give Greece more time to implement its hardline cuts programme as it warned that Europe posed a "critical risk" to a weakening global economy.

Top China official visits Afghanistan, signs security deal

KABUL (Reuters) - China has signed security and economic agreements with Afghanistan during a rare trip to Kabul by a top Chinese official, in deals seen aimed at bolstering Beijing's influence ahead of a NATO withdrawal of most combat forces by 2014.

Spain in no rush to seek aid, banks need 60 billion euro - Economy Minister

(Reuters) - Spain will not rush to seek external aid to finance its debt, Economy Minister Luis de Guindos said on Saturday, adding that the country's banks would need 60 billion euros to clean up the toxic property assets on their balance sheets.

ECB's Makuch: Room to cut interest rates if needed

(Reuters) - The European Central Bank has room to cut base interest rates below their current record low of 0.75 percent if the economic situation in the crisis-hit euro zone warrants it, Governing Council member Jozef Makuch said on Tuesday.

India central bank in lending boost as rates on hold

India's central bank has lowered the amount of money that banks need to keep in reserve, in a bid to boost lending and spur domestic demand.

Spain shuns further cuts as unrest grows

Spain is digging in its heels against further austerity as protests sweep the country and mounting tensions with Catalan nationalists threaten to split the country.

Large anti-austerity protests in Spain, Portugal

MADRID: Tens of thousands of people from all over the country converged on Spain's capital to hold a large anti-austerity demonstration on Saturday.

Greece may get more time, not more money, indicate IMF, EU

NICOSIA: Greece may get more time to reach financial targets under its 130 billion euro rescue package but probably not more money, its international lenders signalled on Friday, saying a decision had to come by the end of October.

Draghi to Explain ECB Strategy to German Parliament

FRANKFURT—European Central Bank President Mario Draghi offered to appear before Germany's parliament to explain the bank's new bond-buying strategy, his latest attempt to convince skeptical Germans that the ECB's open-ended commitment to purchase bonds of Spain and other struggling euro countries is necessary to help resolve Europe's debt crisis.

Japan buys disputed islands, China sends patrol ships

TOKYO: Japan brushed off stern warnings by China on Tuesday and bought a group of islands that both sides claim in a growing dispute that threatens to deepen strains between Asia's two biggest economies.

Obama Discusses Iran Threat With Netanyahu Amid Tensions

President Barack Obama and Israeli Prime Minister Benjamin Netanyahu discussed Iran’s suspected atomic weapons program amid a rift between the two nations over how to confront the issue.

Turkey's Economy Grows Less Than Expected

ISTANBUL—The Turkish economy slowed to 2.9% expansion on the year in the second quarter, a lower rate than expected, suggesting that the government could fail to meet its 4% economic growth target this year.

IMF tells Europe to deliver on Irish bailout, cuts growth

DUBLIN: The success of Ireland's international bailout hinges on it getting more European support and there being economic recovery externally, the International Monetary Fund (IMF) said on Monday as it cut its growth forecast for Ireland for next year.

China: Inflation jumps as economy slows

ANAHEIM, CALIF. (CNNMoney) -- After four straight months of declines, consumer price inflation has finally edged up in China.

Germany should back growth or leave euro: Soros

VIENNA (Reuters) - Germany should leave the euro zone if it is not prepared to take a more decisive lead in helping the euro zone's weaker nations escape a spiral of increasing indebtedness and economic decline, veteran financier George Soros said on Saturday.

ECB plan pushes euro to two-month high against dollar

The euro has strengthened to a two-month high against the US dollar, as the European Central Bank's bond-buying plans continued to please the markets.

Bank of England sits tight over rates, stimulus

LONDON: The Bank of England on Thursday kept its main interest rate at a record low 0.50 per cent and decided to maintain the amount of special funds used to help stimulate Britain's recession-affected economy.

Eurozone likely in recession as PMIs slump

The eurozone is likely to have slipped back into recession in the current quarter, according to a survey that showed a seventh month of contraction for the bloc's private sector.

Swiss economy shrinks under euro crisis pressure

(Reuters) - The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors' woes, providing further justification for the central bank's cap on the strong franc.

Global shares gain on central bank hopes, eyes on ECB

LONDON (Reuters) - European shares crept higher on Monday after weak factory data highlighted the poor health of the global economy, keeping alive talk of fresh stimulus from major central banks.

Years of US fines over Iran loom for foreign banks like Deutsche Bank, Intesa San Paolo

LONDON/FRANKFURT: For years, the United States struggled to get foreign bankers to comply with its effort to throttle Iran's economy - but a couple of billion dollars in fines, not to mention lurid headlines and talk of jail time, has suddenly got their attention.

IMF Deputy MD David Lipton 'optimistic' about Greece

WASHINGTON: IMF Deputy Managing Director David Lipton said Friday he was optimistic that Greece could get its restructuring program back on track and remain in the eurozone.

Spain: One in four is unemployed

Spain suffered the highest level of joblessness in the eurozone in July, as overall unemployment in the region held steady at a record high.

India disappoints with 5.5 percent growth

NEW DELHI (AP) — India's economy grew a disappointing 5.5 percent in the last quarter ending June, marking a sharp slowdown from the 8 percent growth in the same period a year ago.

Markets will wait for ECB silver bullet, but not for long

(Reuters) - Investors have put their faith in the European Central Bank's ability to get on top of the euro zone debt crisis and even if detailed plans take longer to materialize than expected, the momentum in financial markets may prevent an immediate meltdown.

Greece plans 'special economic zones' to boost growth

ATHENS: Greece plans to set up "special economic zones" to attract private investment and help lift its debt-laden economy out of depression, the government said on Tuesday.

China announces £800bn stimulus to boost confidence

China has announced a total of 8 trillion yuan (£800bn) of "stimulus projects" to try to boost confidence in an economy that appears to be cooling faster than expected.

Hollande approval rating slips to 54 percent: Ifop poll

PARIS (Reuters) - French President Francois Hollande's approval rating fell to 54 percent in August, continuing a steady decline since he came to office, according to a poll released on Saturday.

Israel's slowing economy may pose trouble for Netanyahu

JERUSALEM — Israel's once-envied economy, which dodged the recent credit crunch and grew even amid the international recession, is heading toward choppier waters.

German Economy Confirmed to Have Grown Slightly in Q2

German economic growth in the second quarter was confirmed at 0.3% (seasonally adjusted), confirming an initial estimate released last week.

China concerns mount as 'awful' data see manufacturing fall to nine-month low

China's factory activity in August contracted at its fastest pace in nine months, in a sign that a persistent slowdown in economic growth extended deeper into the third quarter.

Recession in US likely without budget accord: Analysts

WASHINGTON: A new recession is likely if a stalemate over tax and spending cuts continues between Democrats and Republicans, according to fresh, dire projections by the nonpartisan US Congressional Budget Office.

Grexit debate stirs in Germany ahead of Greek PM visit

(Reuters) - Greece will not leave the euro zone unless the country "totally refuses" to fulfill any of its reform targets, the head of the Eurogroup said on Saturday, as Germany insisted the crisis-stricken country must stick to the agreed reforms.

China's Hu gives show of support for North Korea

BEIJING (Reuters) - China's President Hu Jintao on Friday met the powerful uncle of North Korea's young leader Kim Jong-un, in a clear show of support for the impoverished ally as it takes tentative steps to rebuild its shattered economy.

India PM says economic growth issue of national security

NEW DELHI (Reuters) - Politicians should treat India's economic growth as a national security issue, Indian Prime Minister Manmohan Singh said on Wednesday, warning a lack of consensus is holding back Asia's third-largest economy as it tries to drag millions from poverty.

Eurozone shuttle diplomacy to pick up pace before critical month

ATHENS/MADRID: After a brief summer lull, euro zone leaders are gearing up for a round of shuttle diplomacy in the run-up to what could be a crucial month in the 2-1/2-year debt crisis.

China moves cautiously in face of worsening slump

BEIJING (AP) — Summer should be the busy season for Shen Lin's musical instrument workshop in the southwestern city of Kunming.

French economy shows zero growth in Q2: INSEE

PARIS: The French economy managed zero growth in the second quarter of 2012, data showed Tuesday, beating expectations it would begin a slide into recession.

US fiscal cliff another Y2K, claim UBS analysts

America's impending "fiscal cliff" is nothing more than another "Y2K" and whoever wins the Presidential election later this year will be forced into averting financial crisis, according to analysts.

Greece Plans Large Debt Auction Tuesday

Greece, starved of financing options, will step up its treasury bill issuance on Tuesday, offering an unusually large amount so it can meet looming redemptions on Aug. 20 and fund its cash needs until it secures further aid from its international creditors.

China's July export figures add to slowdown fears

Fears of a renewed global recession grew on Friday after faltering demand from the US and Europe was blamed for weaker than expected Chinese exports.

Fitch says Spanish banking bailout may not suffice

MADRID: Fitch Ratings warned Friday that it has doubts about whether Spain's banking rescue of up to 100 billion euros ($123 billion) will be enough to clear up the mess for good.

UK trade deficit at 15-year high

The UK's trade gap widened sharply in June, to its worst level since comparable records began in 1997.

Euro architect Otmar Issing: Some members could leave

Some members of the eurozone may have to leave the bloc as the debt crisis continues, according to one of the architects of the euro.

Global Economy: No rabbits hidden in China's hat this time

LONDON (Reuters) - Investors will be looking to a data deluge from China this week to give the global economy a further lift after Friday's strong U.S. jobs report. They risk being disappointed.

Global fears shackle India's outsourcing job-hoppers

The normally high employee turnover rate in India's job-hopping outsourcing sector has fallen sharply as a weak global economy hits the flagship industry, a study showed on Monday.

Italy doesn't need German cash, Prime Minister Mario Monti tells Germans

BERLIN: Italy needs moral support from Germany but not its cash, Prime Minister Mario Monti said in an interview published on Sunday as German conservatives renewed calls for Greece to leave the euro zone.

Downturn 'entrenched' in Germany amid poor eurozone PMI

Eurozone private sector activity contracted for the 10th time in 11 months in July, with data now consistently showing the downturn becoming "entrenched" in Germany, a key survey has showed.

Jobs Gains Topping Forecasts Ease U.S. Slowdown Concerns

The U.S. economy generated more jobs than forecast in July as automakers and health-care providers boosted employment, easing concern the three-year expansion is faltering, even as the unemployment rate unexpectedly rose

Leaders of Spain, Italy meet as markets drop

MADRID (AP) -- Italy's Prime Minister Mario Monti said his country will not seek a sovereign bailout, though Spanish Premier Mariano Rajoy, whom he met with on Thursday, dodged the question altogether as financial markets dropped sharply.

Fed says economy may need help, keeps policy on hold

WASHINGTON (Reuters) - The Federal Reserve stopped short of offering new monetary stimulus on Wednesday even as it signaled more strongly that further bond buying could be in store to help a economic recovery that it said had lost momentum this year.

Greece 'on the brink' as cash reserves dry up

Near-bankrupt Greece is fast running out of cash while it waits for its next installment of aid from international lenders, a deputy finance minister has said, sounding the alarm on the country's precarious financial position.

Hiring Probably Limited by Slowing Growth: U.S. Economy Preview

The pace of hiring in July probably failed to reduce the U.S. jobless rate, which has been stuck above 8 percent for more than three years, economists said before a report this week.

Debt crisis: Germany's Angela Merkel and Italian PM Mario Monti vow to protect euro

German Chancellor Angela Merkel and Italian Prime Minister Mario Monti have agreed to do everything to protect the euro zone and swiftly implement measures agreed by EU leaders in June.

Spanish bail-out 'impossible’, experts warn

A full-blown sovereign bail-out of Spain would be economically and politically impossible and cost up to €650bn (£510bn), an in-depth study has warned.

Britain's economy sinks far deeper into recession than forecast

LONDON: Britain's economy shrank far more than expected in the second quarter, battered by everything from an extra public holiday to government spending cuts and the neighbouring euro zone crisis.

Hungary plays safe, decides against rate cut

BUDAPEST (Reuters) - Hungary's central bank kept interest rates steady for a seventh consecutive month on Tuesday as an escalating euro zone crisis poses risks to confidence in the forint, overruling calls by some rate-setters for looser policy to shore up a weak economy.

Fall in eurozone PMI heralds return to recession

Eurozone services and manufacturing output shrank for a sixth straight month in July, with the downturn becoming entrenched in the core countries of Germany and France.

Spain economy contracted 0.4% q/q in Q2: Central Bank

MADRID: Spain's economy sank deeper into recession in the second quarter, the Bank of Spain said on Monday, as markets spooked by funding problems in the country's regions pushed it ever closer to a full international bailout.

China's tight job market defies economic downturn

BEIJING (Reuters) - Workers living through the slowest run of global economic growth in more than three years are in fear for their jobs everywhere except in the very place investors are most concerned about - China.

Global Economy: Crash or Gradual Slowdown?

The debate over whether the world's economy is facing a dramatic crash has gained traction in recent weeks, as the euro zone debt crisis continued to dominate headlines and worries about other major economies like the U.S. and China grew.

IMF: eurozone in critical danger, ECB should launch QE

The eurozone is in "critical" danger and the European Central Bank should play a bigger role in fighting the debt crisis through more rate cuts, QE and further liquidity provision, the International Monetary Fund has said.

UK inflation slows to two-and-a-half year low

British inflation fell to its lowest in more than two-and-a-half years in June helped by early summer sales of clothes and shoes, easing pressure on cash-strapped households.

S&P down for seventh day in eight

NEW YORK (Reuters) - A surprise decline in June retail sales was the latest worrying sign from the economy, pushing stocks slightly lower on Monday, but Citigroup's earnings limited losses.

Greece works on $14.1 bn in budget cuts promised to EU-IMF creditors

ATHENS: Senior Greek ministry officials were meeting on Friday to detail 11.5 billion euros ($14.1 billion) in budget cuts promised to EU-IMF creditors, a finance ministry source said.

Italy's economy to shrink at least 2.4% this year

ROME: Italy's economy will contract by 2.4 percent or more this year, the head of the employers federation Giorgio Squinzi said on Thursday, doubling the official government forecast of a 1.2 percent shrinkage.

Glimmers of Hope Fail to Lift European Markets

LONDON — European industrial production rebounded unexpectedly in May, according to data released Thursday, and Italy’s short-term borrowing costs dropped, providing glimmers of hope that have been rare lately in the euro zone.

Government must find extra £17bn of cuts, OBR warns

Britain must find an additional £17bn of spending cuts or tax rises to help defuse an impending demographic timebomb, the government's official forecaster has warned.

US hails 'progress' in Pacific trade talks

The United States said "significant progress" was made in talks aimed at creating an ambitious trade agreement with eight other Pacific Rim countries.

Clinton Digs at China From Neighboring Mongolia

ULAN BATOR, Mongolia — _In an unmistakable message to China delivered in a speech from this neighboring country, Secretary of State Hillary Rodham Clinton said Monday that economic success without meaningful political reform was an unsustainable equation that would ultimately lead to instability.

Clinton urges pressure on Russia, China over Syria

(Reuters) - U.S. Secretary of State Hillary Clinton urged world powers on Friday to show Russia and China they would pay a price for impeding progress toward a democratic transition in Syria.

Greece looks to easier rescue terms, eurozone gloom returns

ATHENS: The new Greek government presents on Friday a strategy to salvage its debt rescue programme, win favour with EU-IMF auditors and gain room to renegotiate terms with the EU and IMF.

US designates Afghanistan as major ally: Hillary Clinton

KABUL: The United States has designated Afghanistan a major non-NATO ally, giving the war-torn country special privileges as the US prepares to pull its troops out in 2014, Secretary of State Hillary Clinton said today.

UN Security Council extends South Sudan peacekeepers

UNITED NATIONS (Reuters) - The U.N. Security Council renewed a peacekeeping mission in South Sudan for second year on Thursday as U.N. chief Ban Ki-moon warned the future of the year-old state was tied to developing good relations with former civil war foe Sudan.

West Bank high life masks deepening economic crisis

RAMALLAH, West Bank (Reuters) - Past the Israeli sentry towers blackened by firebombs and the entrance to a refugee camp emblazoned with posters of rifle-clenching militants, downtown Ramallah sparkles.

Spain to unveil new austerity steps soon: Sources

MADRID: Spain's government is putting finishing touches to an up to 30 billion euro ($38 billion) package of spending cuts and tax hikes to help it meet this year's deficit targets, sources with knowledge of the matter said.

Manufacturing shrinks, first time in nearly three years

(Reuters) - Manufacturing shrank in June for the first time in nearly three years as new orders plummeted, according to one measure of the sector that showed the starkest sign yet of the extent of the slowdown in the economy.

Iran vows to confront "malicious" embargo

(Reuters) - Iran pledged to counter the impact of a European Union oil embargo which took full effect on Sunday, saying it had built up $150 billion in foreign reserves to protect itself.

Fed officials eye darker U.S. growth, jobs picture

(Reuters) - Federal Reserve officials on Friday said they were keeping an eye out for any signs that slowing growth is raising deflation risks but differed on how worrisome sluggish job markets are for the modest U.S. economic recovery.

Europe's bold rescue plan still awaiting details

BRUSSELS: Europe's leaders surprised skeptics with a bold plan to pump cash into troubled banks, reduce borrowing costs for Italy and Spain and stop forcing austerity on every government that needs aid.

U.S., China Find Path on Iran

BEIJING—A steep drop-off in China's crude-oil imports from Iran earlier this year, which companies involved blamed on a contract dispute, has provided a face-saving way for Beijing to appease the U.S. even as it officially maintains opposition to U.S. sanctions against Tehran, analysts said.

Spain requests EU aid, market hopes dim

MADRID/BRUSSELS (Reuters) - Spain formally requested euro zone rescue loans on Monday to recapitalize banks that are laden with bad debts as the euro and shares fell due to investors' skepticism that a European Union summit this week will act decisively on the bloc's debt crisis.

Sudan steps up crackdown on protests

CAIRO – Sudanese security forces used tear gas to break up anti-regime demonstrations in Khartoum on Sunday, opposition figures said, as the government vowed to press ahead with economic austerity measures that set off a wave of unrest last weekend.

Greek coalition seeks two extra years to meet bailout deficit targets

Greece's new coalition government has outlined the concessions it hopes to exact from Europe's leaders on its €130bn bailout package, as its two top politicians receive hospital treatment.

Sudanese protest over cuts amid security crackdown

KHARTOUM (Reuters) - Hundreds of Sudanese joined anti-government demonstrations in Khartoum on Saturday, witnesses and activists said, pushing protests against tough spending cuts into a second week despite a security crackdown.

Spain to seek bank aid as borrowing costs soar

LUXEMBOURG/MADRID (Reuters) - Independent auditors said Spanish banks may need up to 62 billion euros in extra capital, to be filled mostly by a euro zone bailout, after Spain's medium-term borrowing costs spiraled to a euro-era record on Thursday.

Global economy: reasons to be fearful

Dark, lowering financial and economic clouds are, it seems, rolling in from every direction: the eurozone, the United States, China, and elsewhere. Indeed, the global economy in 2013 could be a very difficult environment in which to find shelter.

G20 to press Europe for lasting crisis fix

LOS CABOS, Mexico (Reuters) - World leaders were set to pile pressure on Europe at a G20 summit on Monday to outline a lasting strategy to save the euro currency after a victory for pro-bailout parties in a Greek election failed to calm financial markets.

Israel launches African migrant deportation drive

JERUSALEM (Reuters) - Israel launched a high-profile deportation drive against African migrants on Sunday with an airlift of South Sudanese whose government said they would be welcomed back as economic assets.

Iran President Mahmoud Ahmadinejad says ready for 'positive step' at nuclear talks

BERLIN: Iran is ready to make a "positive step" at talks in Moscow on Tehran's disputed nuclear programme, President Mahmoud Ahmadinejad said, adding that he hoped for progress at next week's crucial meeting.

Oil embargo to cause 'unstable' market: Iranian minister

VIENNA: A looming oil embargo on Iran, related to its controversial nuclear programme, will destabilise the global oil market and spark higher prices, Iranian Oil Minister Rostam Qasemi warned Wednesday in Vienna.

Key India-US talks due in Washington

Indian Foreign Minister SM Krishna and US Secretary of State Hillary Clinton are due to begin talks in Washington as part of the US-India strategic dialogue.

U.S. exempts India, not China, from Iran sanctions

(Reuters) - The United States extended exemptions from its tough, new sanctions on Iran's oil trade to seven more economies on Monday, leaving China the last remaining major importer exposed to possible penalties at the end of the month.

Exclusive - Euro zone discussed capital controls if Greece exits euro -sources

(Reuters) - European finance officials have discussed limiting the size of withdrawals from ATM machines, imposing border checks and introducing euro zone capital controls as a worst-case scenario should Athens decide to leave the euro.

West Africa to seek UN mandate for action on Mali

PARIS (Reuters) - West African nations will seek a U.N. Security Council mandate for military intervention in Mali where rising Islamist militancy has made the country an international security threat, Niger's President Mahamadou Issoufou said on Monday.

Rajoy Upbeat on Aid Plan

MADRID—Spanish Prime Minister Mariano Rajoy on Sunday tried to convince the Spanish public that a European Union financial bailout for their country will help shore up an ailing economy and dispel doubts about the single European currency, but he also warned that it won't prevent the country from staying mired in recession this year or stop more people losing their jobs.

Planned E.U. Oil Embargo Looks Set To Squeeze Iran

On July 1, the European Union says it will stop buying oil from Iran. Europe is one the most important markets for Iran's oil, and in anticipation of the boycott, Iranian oil exports worldwide are already down by more than 25 percent.

US Fed chairman Bernanke 'ready to act' on economy

The chairman of the US Federal Reserve Bank says he is monitoring risks to the economy and is prepared to take action if necessary.

EU says Russia breaking WTO rules ahead of entry

BRUSSELS (Reuters) - Russia will probably be in breach of global trade rules when it joins the World Trade Organisation this year, the EU executive said on Wednesday, signaling Brussels would feel justified in filing a case against the club's newest member.

Euro zone economy weakens further in May: PMIs

LONDON: All of the euro zone's major economies are now in various states of decline, according to business surveys that suggested even Germany is no longer immune to the tremors emanating from the likes of Greece and Spain.

Putin wants closer EU trade ties, skirts Syria

ST PETERSBURG, Russia (Reuters) - Russian President Vladimir Putin pressed the European Union on Monday for faster progress toward visa-free travel and said the EU will have to deal with an economic alliance among ex-Soviet states, while skirting the issue of Syria in public comments.

U.S. and European Union Agree on Air Cargo Security

The United States and the European Union were expected Friday to announce an agreement to recognize each other’s air cargo security procedures, putting an end to a costly duplication of security controls on the more than $130 billion in airfreight that crosses the Atlantic from Europe each year.

US consumer spending strengthens, inflation eases

WASHINGTON: US consumer spending rose modestly in April while incomes grew more slowly and inflation pressures eased, according to Commerce Department data published on Friday.

IMF sees room for ECB easing, case for slower euro zone deficit cuts

BRUSSELS: Some euro zone countries which are meant to cut budget deficits below 3 per cent of GDP in 2013 may need more time and there is room for a more expansionary policy from the European Central Bank, IMF Deputy Managing Director Nemat Shafik said.

Egypt election outcome makes economic challenge tougher

CAIRO (Reuters) - The success of two polarizing figures in Egypt's presidential election could make it harder to put in place an effective government that can tackle an economic crisis and secure vital foreign aid.

China economy faces growing downward pressure: Vice Premier Li Keqiang

BEIJING: China should rely on domestic demand and structural reforms to support the economy which faces growing downward pressures, Vice Premier Li Keqiang said on Wednesday.

French unions warn of mass job cuts in reform talks

PARIS (Reuters) - French unions pressed President Francois Hollande at the start of labor talks on Tuesday to prove his job-saving mettle by handing his Socialist cabinet a list of looming company shutdowns that are threatening tens of thousands of jobs.

US says China not seeking trade edge with weak yuan

WASHINGTON: The United States ruled on Friday that China was not manipulating its currency to gain an unfair trade advantage but it called the yuan "significantly undervalued" and vowed to press the Asian power for currency reforms.

Security connection between Israel, China warming up

JERUSALEM (AP) -- After a prolonged chill, security ties between Israel and China are warming up.

Iran, big powers extend talks despite split over sanctions

BAGHDAD (Reuters) - Iran accused world powers on Thursday of creating "a difficult atmosphere" in talks on its atomic energy program, signaling a setback in efforts to reach an agreement that would allay their fears that Iran is secretly trying to develop nuclear bombs.

Syria says sanctions have cost country $4 billion

DAMASCUS, Syria (AP) — Syria's oil minister blamed international sanctions Wednesday for shortages of cooking gas and other basic goods, saying the measures have bled $4 billion from the nation's ailing economy.

Eurozone failure could spark rise in extremism, warns Nick Clegg

BERLIN: Europe faces a new wave of extremism and nationalism if the eurozone fails to resolve its problems, Britain's Deputy Prime Minister Nick Clegg has warned in a German news magazine.

Security Issues Open G-8 Talks With European Debt Next

Leaders from the Group of Eight nations opened two days of economic and security discussions by considering ways to keep Iran from gaining nuclear weapons capability and to promote peaceful political transition in Syria, according to a U.S. official familiar with the talks.

Greece starts work on new polls as euro crisis deepens

ATHENS: Greece began preparing Friday for its second election in just six weeks, with increasing alarm over the crisis in the eurozone after the savage downgrading of banks in Spain.

G8 Leaders to Weigh Euro Crisis, Food Security

Global economic recovery and food security are expected to be major topics at this weekend’s G8 summit.Leaders will gather at a short, scaled-down version of their annual meeting at Camp David in Maryland.

Contagion risks deepen as new Greek elections called

NEW YORK (CNNMoney) -- The threat of contagion in Europe deepened Tuesday, when Greece announced it would hold new elections in June after failing to form a coalition government.

S.Africa aims to lift savings, cut budget strain

JOHANNESBURG (Reuters) - South Africa is looking to strengthen its social security system by encouraging a higher savings rate among its highly indebted households, which should help economic growth and reduce the burden on state finances, the Treasury said on Monday.

US resumes Bahrain arms sales despite rights concerns‎

WASHINGTON - The administration of US President Barack Obama has said it will resume some arms shipments to Bahrain after most were suspended last year during a government crackdown on political dissent.

Spanish PM defends cuts day after massive protests

MADRID (AP) — Prime Minister Mariano Rajoy on Sunday defended his government's harsh austerity measures aimed at correcting Spain's grim economic forecast, one day after tens of thousands of Spaniards took to the streets to protest his handling of the country's worst crisis in decades.

German Finance Minister eyes growth measures for Greece

BERLIN (Reuters) - Germany is ready to consider additional measures to promote growth in Greece but the struggling economy must still carry out agreed reforms, German Finance Minister Wolfgang Schaeuble said in an interview with the Welt am Sonntag weekly on Saturday.

Spain to be in recession in 2012 and 2013: European Commission

BRUSSELS: Spain will have to approve big additional savings this year and next if it is to meet its ambitious deficit reduction targets as the Spanish economy will be in recession in 2012 and 2013, forecasts from the European Commission showed on Friday.

UN official: Plight of Afghan poor may worsen

KABUL, Afghanistan – Afghanistan's security situation has overshadowed the glaring humanitarian needs of the nation's poorest, and their plight may worsen as international assistance wanes, a top U.N. official said Wednesday.

Brussels, Berlin tell Europe to stick to austerity

BRUSSELS (AP) — Germany and the European Commission on Tuesday called on EU nations to stick to their promised budget cuts despite mounting voter discontent, but promised some new efforts to boost growth to alleviate economic hardship.

Clinton wants India to further cut Iranian oil imports

NEW DELHI: Even as the US was pressing India to further reduce its oil imports from Iran, a 56-member delegation from Tehran was in the capital to push trade ties.

Asian shares fall after European election results

Asian markets have dropped on fears that the eurozone may rein in austerity measures that many see as key to solving the region's debt crisis.

UN Security Council prods Sudan and South Sudan back to talks

The United Nations Security Council has voted to impose economic sanctions on Sudan and South Sudan if the two countries don’t cease their fighting immediately and go back to the negotiating table to settle their disputes over territory and oil revenues.

Roubini: Iran is the greatest looming threat

LOS ANGELES (CNNMoney) -- Nouriel Roubini gives an audience no shortage of scenarios to keep them up at night, but his number one worry right now is the looming threat of Iran building nuclear weapons.

Japan urges Israel 'patience' on Iran sanctions

JERUSALEM: Japan's Foreign Minister Koichiro Gemba has urged Israel to exercise "patience" on Iran's nuclear programme and give sanctions a chance to work, his spokesman said on Wednesday.

China, Russia resist West's sanctions push for Sudan, South Sudan

(Reuters) - China and Russia are resisting a Western push for the U.N. Security Council to threaten Sudan and South Sudan with sanctions if the two countries fail to comply with demands to halt their escalating conflict, U.N. envoys said.

Obama affirms strong economic, security ties with Japan

Washington (CNN) -- Affirming strong ties in a time of challenges, President Barack Obama and visiting Japanese Prime Minister Yoshihiko Noda on Monday hailed an agreement to move U.S. Marines from Okinawa and expressed solidarity against North Korea's nuclear weapons program.

Slowing US consumer spending points to economic slowdown

A modest increase in US consumer spending last month signalled the world's largest economy may struggle to accelerate this quarter.

Russia warns EU Iran oil embargo will be costly

(Reuters) - Russia pressed its case against new sanctions over Iran's nuclear program on Friday, saying an European Union ban on purchasing Iranian oil would end up hurting the bloc's member countries.

Oil prices rise on Fed's brighter US outlook

NEW YORK (AP) — Oil prices rose Wednesday after the Federal Reserve boosted its outlook for U.S. economic growth. Benchmark West Texas Intermediate crude added 57 cents to end at $104.12 per barrel in New York.

Global food prices on the rise again: World Bank

WASHINGTON (Reuters) - Global food prices are rising again, pushed higher by costlier oil, strong demand from Asia and bad weather in parts of Europe, South America and the United States, the World Bank said on Wednesday.

The Global Note: Mexico’s Sea Change…Austerity Blues…Africa’s Cry For Help…A Marathoner’s Gift

It’s a statistic not seen in half a century. Net migration from Mexico has plummeted to zero thanks to changing demographic and economic conditions on both sides of the border, a new study says, even as political battles over illegal immigration heat up and the issue heads to the U.S. Supreme Court.

Prognosis for Social Security worsens

WASHINGTON (MarketWatch) — Social-Security benefits would have to be reduced a few years earlier than previously projected — in 2033 instead of 2036 — based on new estimates of the program’s finances.

Ex-national security adviser: No apologies to Israel over Iran’s nuke program

President Obama’s former national security adviser says the U.S. has no reason to apologize to Israel for its handling of Iran and notes that the U.S. has been able to “contain” other nations that have acquired nuclear weapons.

EU states agree in principle to suspend Myanmar sanctions: diplomats

(Reuters) - European Union governments are to suspend most sanctions against Myanmar next week, EU diplomats said on Thursday, in recognition of rapid political and economic reforms after decades of military dictatorship.

Euro on brink of collapse: IMF

LONDON: The crisis-hit euro is teetering on the brink of collapse, the International Monetary Fund (IMF) has said.

Asia stocks sink amid global economic worries

BANGKOK (AP) — Asian stock markets sank Monday as Europe's debt crisis threatened to intensify again while growth in China slowed.

S. Sudan says repulses Sudan army attack on Heglig

KHARTOUM/JUBA (Reuters) - South Sudan said on Saturday it had repulsed an attempt by the Sudanese army to retake a disputed oil-producing border area, extending a stand-off that has edged the two countries closer to a full-blown war.

US, IMF welcome China's move on yuan trading band

The US and the IMF welcomed China's decision to widen the trading band on the nation's currency, while analysts downplayed Sunday the likelihood of wide swings in the value of the yuan.

Citizens Advice Scotland launches graduate survey

Citizens Advice Scotland (CAS) is launching a national online survey of recent graduates who are struggling to find work.

Countries face spike in borrowing costs, warns OECD

Governments face a dangerous spike in borrowing costs in the coming years because rates charged are being kept artificially low while crisis measures are in place, the Organisation for Economic Co-operation and Development (OECD) has warned.

Russia economy chief reports $12.6 mn in joint income

Vladimir Putin's economic pointman reported $12.6 million in joint family income on Thursday in a disclosure published following allegations that he had made huge profits through crony deals.

Iran-fueled oil price spike biggest threat to economy

NEW YORK (CNNMoney) -- An oil price spike caused by a confrontation with Iran is now seen as the biggest threat to the U.S. economy.

Global business groups press India on technology plan

WASHINGTON (Reuters) - Global business groups urged Indian Prime Minister Manmohan Singh on Monday to rescind new government rules for technology purchases that they said unfairly discriminate against foreign firms and potentially violate World Trade Organization rules.

Ireland Minister Upbeat on Recovery

DUBLIN—Ireland's economy could be on the verge of a strong recovery that would help the government regain access to the international bond markets next year, the deputy finance minister said.

US will accept Iran civilian nuclear programme: Report

WASHINGTON: President Barack Obama has told Iran the United States would accept Tehran having a civilian nuclear program if the Islamic state can prove it is not seeking atomic weapons, the Washington Post said.

Investors dump euro and risky bonds as fears about Spain intensify

Worries about Spain's perilous economic outlook and the threat it poses to its fragile eurozone neighbours intensified on Thursday night as investors dumped the euro and riskier government bonds ahead of the long holiday weekend.

US urges India to press Iran over nuclear issue

NEW DELHI: Downplaying divergences on the Iranian issue after imposing fresh sanctions, the US on Monday sought India's cooperation in pressing Tehran to come clean on its nuclear programme and clarified that it was not seeking to undermine New Delhi's energy security.

International business attacks retrospective Indian tax law

The international business community has launched a stinging attack against the Indian government and its decision to introduce a retrospective a tax law.

Mexico presidential favorite eyes border tax break

CIUDAD JUAREZ (Reuters) - The front-runner in Mexico's presidential election campaign said on Sunday he would create tax incentives to revive economic life along the U.S. border that has been depressed by drug violence.

Greek PM says third bailout may be needed

The Greek prime minister Lucas Papademos has conceded that the crisis-plagued country could require a third bailout only weeks after it secured a second package of rescue funds following months of hand-wringing in Brussels.

U.S. tightens oil sanctions on Iran

NEW YORK (CNNMoney) -- President Obama ratcheted up the pressure on Iran Friday, deciding to implement previously announced sanctions that will be the toughest to date.

Insight: Obama's North Korean leap of faith falls short

WASHINGTON (Reuters) - When U.S. diplomats filed into North Korea's grim embassy in Beijing last month they found an unlikely surprise: Starbucks.

Europe's reform drive risks running out of steam

PARIS: European leaders are caught between former White House chief of staff Rahm Emanuel's injunction "You never want a serious crisis to go to waste" and Luxembourg Prime Minister Jean-Claude Juncker's admission that "We all know what to do. We just don't know how to get re-elected after we've done it."

US extends trade benefit program to South Sudan

WASHINGTON (Reuters) - President Barack Obama on Monday added oil exporter South Sudan to a U.S. trade program for developing countries, allowing the newly independent nation to ship oil and thousands of other goods to the United States without paying U.S. import duties.

Ifo cheer fades as euro zone debt fears resurface

LONDON (Reuters) - Spain's and Italy's stock markets fell on Monday as fears they will struggle to enact reforms needed for growth returned, but a report that Germany may agree to combine the euro zone's two bailout funds temporarily lifted the two countries' bonds.

North Korea rocket plan upstages summit on keeping nuclear material away from terrorists

SEOUL, South Korea - The security summit opening Monday was supposed to be an opportunity for President Barack Obama and other leaders to find ways to keep nuclear material away from terrorists. So far, North Korea has upstaged that agenda.

Banks urged to raise fresh capital

The taxpayer could be asked to stump up yet more cash to support Britain's banks after the Bank of England's new risk watchdog urged them to raise more capital to weather future financial shocks.

China signs $31bn currency exchange deal with Australia

China and Australia have signed a currency swap agreement in a bid to promote bilateral trade and investment.

US exempts Japan and EU nations from Iran oil sanctions

The US government will not impose sanctions on Japan and 10 European Union nations that have reduced their oil imports from Iran.

High fuel prices threaten airline sector, IATA warns

GENEVA: The airline industry group IATA cut back its 2012 profit forecast for the airline sector to $3.0 billion (2.3 billion euros) from $3.5 billion on Tuesday, as tensions in the Gulf push fuel prices up.

Greece default insurance pays out $2.5 billion

NEW YORK (CNNMoney) -- Investors holding insurance contracts on Greek government bonds will receive more than $2.5 billion in compensation after the country pulled off a complex debt restructuring.

US asks China to end 'distorting' currency policy

SHANGHAI: The US ambassador to China on Monday called on Beijing to end its "distorting" currency practices and stop discrimination against US firms, amid growing trade frictions between the two countries.

Jobless claims fall, manufacturing holds up

WASHINGTON/NEW YORK (Reuters) - The number of Americans claiming new jobless benefits fell back to a four-year low last week and manufacturing in the Northeast held up in March, providing more signs the economy was firmly on a self-sustaining growth path.

Fitch warns that UK's AAA-rating is at risk

George Osborne faced fresh questions about the credibility of his austerity policies just days before the budget on Wednesday night, when Fitch became the second of the major credit ratings agencies to warn that the UK's coveted AAA-rating is at risk.

Obama warns China against 'skirting the rules'

WASHINGTON — U.S. President Barack Obama on Tuesday warned China to stop limiting its exports of so-called “rare earth” minerals used to make high-technology products.

German investor confidence most in 21 months

German investor confidence has risen to the highest level since June 2010.

Insecurity threatens Afghanistan with economic crisis

KABUL (Reuters) - Security fears ahead of a NATO combat force pullout in 2014 may prompt wealthy Afghans to keep shifting billions of dollars to safe havens in Dubai and elsewhere, threatening the country's economic survival, the deputy central bank governor warned.

Mideast Quartet to meet amid stalled peace talks

(Reuters) - The Quartet of Middle East negotiators - the United States, Russia, the United Nations and European Union - will meet on Monday to discuss the long-stalled peace process between Israel and the Palestinians, the United Nations said.

UK committee concerned about Olympic security cost

LONDON (AP) — The 2012 London Olympics run a serious risk of going over budget, a British government committee warned Friday, complaining that unexpectedly staggering security costs will make it hard to stick to the 9.3 billion pound ($14.6 billion) spending plan.

China cyber capability endangers U.S. forces: report

WASHINGTON (Reuters) - Chinese cyberwarfare would pose a genuine risk to the U.S. military in a conflict, for instance over Taiwan or disputes in the South China Sea, according to report for the U.S. Congress.

Greece edges towards passing final debt swap hurdle needed for €130bn bailout

Greece has been edging towards a deal with its private-sector creditors as the hours ticked away towards Thursday's deadline for the agreement required to trigger a fresh €130bn bailout for its troubled economy.

Conflict in Iran would have disastrous consequences: India

WASHINGTON: Warning that any attack on Iran would be disastrous for the region, India has said that a series of recent media reports in the US have distorted its foreign policy objectives and energy security needs.

China domestic security spending rises to $111 billion

BEIJING (Reuters) - China will increase spending on police, militia and other domestic security arms by 11.5 percent to $111 billion this year, figures released on Monday showed, ahead of a leadership succession that has kindled fear of instability.

Moody's downgrades Greece's sovereign debt rating after debt swap

NEW YORK: Moody's Investors Service on Friday cut Greece's sovereign debt rating to the lowest possible level after a debt-restructuring deal that imposes hefty economic losses for private creditors.

IMF urges lower ECB interest rate

The European Central Bank should cut its basic interest rate further to help growth in the struggling eurozone, the International Monetary Fund said in a paper released Thursday.

World Bank says UN goal of halving poverty met

WASHINGTON (Reuters) - Developing countries appear to have already met a United Nations goal to halve extreme poverty in the world's poorest countries by 2015, thanks mainly to China's economic boom, the World Bank said on Wednesday.

Nuclear Iran would 'choke' world economy: Israel PM

JERUSALEM: Israeli Prime Minister Benjamin Netanyahu on Tuesday warned that a nuclear-armed Iran would control the major Gulf oil producers, send energy prices soaring, and "choke" the global economy.

HSBC to refocus on Asia as £14bn profit looms

The London-based bank is set to say at its annual results that it will focus its efforts on growing economies such as China at the same time as maintaining its market share in lower growth Western economies such as the UK.

World Bank chief says U.S. should lead some global bodies

SINGAPORE (Reuters) - A solid U.S. candidate to head the World Bank would be good for the United States and the bank because the world's largest economy should be represented in top international bodies, outgoing President Robert Zoellick said on Saturday, while emphasizing he has no role in the selection process.

Larger EU firewall needed before more IMF funds: US

WASHINGTON: Europe must build a "credible" firewall to contain the financial crisis before the United States and other countries agree to boost IMF intervention resources, US Treasury Secretary Timothy Geithner said Friday.

UK to narrowly escape recession, European commission forecasts

The UK will narrowly escape recession in the first half of this year as Europe as a whole stagnates and the eurozone suffers a short-lived, "mild" contraction, according to the latest forecasts from Brussels.

Youths show economic frustration in streets around the world

After the Great Recession swept through the global economy and crushed the job prospects and financial security of millions of young people, thousands took to the streets in the past year from Cairo and Moscow to Washington and Wall Street to demand a new economic and political order.

US, Britain urge Israel not to attack Iran

JERUSALEM: The US and Britain have urged Israel not to attack Iran's nuclear program and the White House's national security adviser arrived in the region, reflecting growing international jitters that the Israelis are poised to strike.

France's far-right Le Pen returns to roots with halal claims

LILLE, France (Reuters) - French far right leader Marine Le Pen switched her presidential campaign back to immigration, claiming all meat in Paris was halal, as she tries to head off President Nicolas Sarkozy's attempts to lure her supporters.

Global clearinghouse ready to evict Iranian banks

BRUSSELS (AP) — A financial clearinghouse used by virtually every country and major corporation in the world agreed Friday to shut out Iran from its respected network, an unprecedented escalation of global economic pressure to halt Iran's suspected drive for nuclear weapons.

European industry's dependence grows on the rising wealth of Indians, Brazilians, Russians and Chinese

LONDON: The world's top yoghurt maker Danone now sells half its goods in emerging markets, and from beer to holidays, Europe's consumer industry depends ever more heavily on the rising wealth of Brazilians, Russians, Indians and Chinese.

Security vs. Reconciliation: The Afghan Conundrum

After eleven years of war, the Taliban’s public declaration that they will hold talks with the United States in Qatar is a major breakthrough for the political process, for Afghanistan’s internal stability, and for progress toward relative peace that will be needed by the US and NATO in 2014 before they can exit Afghanistan in good order and without too much further bloodshed.

How to Swap the Obama Budget for an Optimistic Economic Growth Agenda

New spending in President Obama’s $3.8 trillion fiscal year 2013 budget would increase investments in education, manufacturing and R&D, transportation projects, electric vehicle incentives and the like.

UN Security Council visits Haiti to review mandate

PORT-AU-PRINCE, Haiti (AP) — The U.N. Security Council began a four-day mission in Haiti on Monday to review the terms of its mandate and evaluate earthquake reconstruction efforts in the Caribbean country.

Low-paid, skilled Indian migrants likely to be hit by new UK immigration laws

The policy speech by UK's immigration minister Damian Green last week has caused a flutter among many Indians, both in India and the United Kingdom (UK).

UK Economy Continued To Contract In Three Months To January-NIESR

LONDON -(Dow Jones)- The U.K economy continued to contract in the three months to the end of January and is expected to be flat for the remainder of the year, an independent economic research group said Thursday.

Euro Pares Gain After German Industrial Production

(RTTNews.com) - In the European session on Tuesday, the euro eased against its major counterparts after report showed that Germany's industrial production fell unexpectedly for December.

UN official to fix broken global economy

New York, Feb 8 : The world needs “a global new deal” to break the mould of economic thought that led to the international financial crisis, the head of the United Nations agency tasked with promoting trade and development said on Tuesday.

Greek Workers Strike Against New Round of Austerity

ATHENS — Greek workers walked off the job on Tuesday to protest a new barrage of austerity measures being demanded by the country’s foreign creditors in exchange for a second bailout of $170 billion without which Greece faces a potentially catastrophic default within weeks.

United States coming to be seen as threat to global markets

The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt US firms, foreign banks, and international markets in one swoop.

Global leaders worried Israel may attack Iran

JERUSALEM — For the first time in nearly two decades of escalating tensions over Iran’s nuclear program, world leaders say they are seriously concerned that an Israeli military attack on the Islamic Republic could be imminent.

EU says it may lend Egypt up to 500 mln euros

CAIRO (Reuters) - The European Union may be prepared to lend Egypt up to 500 million euros to help it finance a budget deficit provided it successfully concludes a financial assistance agreement with the IMF, an EU official said on Wednesday.

Iran's economy to grow despite sanctions: Ahmadinejad

President Mahmoud Ahmadinejad predicted on Wednesday that Iran's economy would grow eight percent over the next 12 months despite severe Western sanctions, as he presented his government's annual budget to parliament.

Global "great power politics" returns to Mideast

LONDON (Reuters) - With Russia sending warships to discourage foreign intervention in Syria, and China drawn more deeply into Iran's confrontation with the West, "great power" politics is swiftly returning to the Middle East.

Janet Napolitano: Homeland Security, Economic Security Go 'Hand-In-Hand'

WASHINGTON -- A top administration official on Monday signaled that the focus of homeland security in 2012 would shift in emphasis to business and the economy.

Romney Seen Costing Private Equity as Pensions Warn of Backlash

Jan. 27 (Bloomberg) -- Mitt Romney’s campaign for the Republican presidential nomination may be costing his private- equity backers a lot more than they bargained for.

Global economy to shrink further in 2012: Survey

Nearly half (48%) of the 1258 CEOs polled worldwide believe the global economy will decline even further in the next 12 months, according to PwC’s 15th Annual Global CEO Survey. Just 15% said the global economy will improve during 2012.

Obama pitches economic message in swing states

WASHINGTON (AP) — President Barack Obama embarks Wednesday on a three-day tour of politically crucial states in a post-State of the Union journey to sell his 2012 economic policy goals while pitching his presidency to a divided public.

IMF predicts European recession will slow global economy

A recession in Europe will slow the global economy this year, the International Monetary Fund predicted Tuesday, while urging world leaders to focus on growth more than budget cuts.The IMF forecasts global growth of 3.25 percent this year, slower than the 4 percent pace it projected in September.

Fukushima nuclear crisis and the legacy of the Amakudari system

The ongoing crisis within the nuclear sector in Japan can be pinned on the relationship between the political bureaucracy and its love-in relationship with electricity suppliers.

Oil falls on economic, demand concerns

NEW YORK (Reuters) - Oil prices fell on Friday, pressured by economic uncertainty ahead of a possible debt deal in Greece, concerns about China's sluggish manufacturing sector and weak U.S. petroleum demand.

Suspicion grows China behind hacking of US commission emails

WASHINGTON/BEIJING: Suspicion is growing that operatives in China, rather than India, were behind the hacking of emails of an official US commission that monitors relations between the United States and China, US officials said.

China has multiple choices to avoid hard landing risk

BEIJING: China faces what could be its worst year of growth in a decade with policy firepower that developed nations can only dream of.

Lazard gets five weeks to find Royal Bank of Scotland's buyers

LONDON: Lazard, the largest non-bank merger advisor, has been given five weeks to find a buyer for all or parts of Royal Bank of Scotland Group's (RBS) equities and advisory operations before managers start firing employees, according to three executives at the bank.

The Next Immigration Challenge

THE immigration crisis that has roiled American politics for decades has faded into history. Illegal immigration is shrinking to a trickle, if that, and will likely never return to the peak levels of 2000. Just as important, immigrants who arrived in the 1990s and settled here are assimilating in remarkable and unexpected ways.

France can overcome crisis with reforms: Sarkozy

AMBOISE, France (Reuters) - President Nicolas Sarkozy said on Sunday France could overcome its debt crisis as long as it was prepared to pull together to adopt economic reforms, two days after the country lost its prized triple-A credit rating.

France goes soft-core

FRIDAY, January 13th, proved unlucky for nine euro-zone countries: they had their credit ratings cut by Standard and Poor’s (S&P) soon after the American markets closed for the week.

'US should negotiate investment treaties with China, India'

WASHINGTON: The US needs to negotiate more bilateral investment treaties with India and China if it wants to be competitive in the global market, the US Chamber of Commerce has said.

Fed officials signal more action may be needed

VANCOUVER, Wash/WOOSTER, Ohio (Reuters) - Federal Reserve officials on Tuesday signaled more help for the U.S. economy may be necessary despite recent data that suggested the recovery was picking up steam going into 2012.

U.S. debt is now equal to economy

WASHINGTON – The soaring national debt has reached a symbolic tipping point: It's now as big as the entire U.S. economy.

Canadian Confidence in Economy Rises From Two-Year Low, Nanos Poll Shows

Canadian consumer confidence rose in the fourth quarter from a two-year low on optimism about real estate prices and the global economy according to a Nanos Research poll.

US wants India to serve as ‘economic anchor’ in Asia

WASHINGTON: With a long term strategic partnership with India, the US wants to support its ability to serve as an “economic anchor” in the Asia Pacific region where it is already driving economic development along with another giant China, a top US commander has said.

Obama gives pep talk to consumer bureau

WASHINGTON (CNNMoney) -- President Obama gave a pep talk Friday to the staff of the Consumer Financial Protection Bureau -- including the new director he controversially appointed this week.

Banking sector stress to affect construction equipment, commercial vehicle sectors: Fitch

MUMBAI: The stress in banking sector will spread to structured finances this year, and asset-backed securities of commercial vehicles and construction equipment will be among the worst hit, Fitch has said.

Manufacturing grows at fastest pace in 6 months

WASHINGTON (AP) — Manufacturing grew in December at the fastest pace in six months and hiring at U.S. factories picked up. The data helped bolster the view that the economy gained momentum at the end of last year.

Global Growth Slows to 3.9% as O’Neill Sees Aging Labor in BRICs

Jan. 3 (Bloomberg) -- A year ago, Catherine Liu employed more than 2,000 people at her five Shanghai luggage-making factories. Now, as the dwindling supply of low-paid young workers forces wages and costs higher, she has 1,200 left.

Nigerian anger heats up as petrol prices rocket

ABUJA (Reuters) - Nigerian motorists and unions vented their anger on Monday at a sudden more than doubling of fuel prices, a day after government subsidies were removed in a sweeping economic reform that could trigger mass protests.

Big events will boost UK in 2012: Cameron

British Prime Minister David Cameron pledged on Monday to use the Olympics and celebrations marking 60 years of the queen's reign in 2012 to return Britain to strength despite continuing economic gloom.