Bank of Canada takes aim at Dodd-Frank on bank failures

WINDSOR, Ontario (Reuters) - The Bank of Canada, frustrated by unilateral U.S. moves which regulate Canadian banks with U.S. subsidiaries, called on Thursday for the two countries to work out a bilateral agreement to clarify responsibilities in winding up failed banks.

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.

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.

Don't count on China to rescue Europe: ex-lawmaker

China is willing to help Europe -- its largest export market -- to deal with its debt crisis and get back on a recovery path, but there are limits to what it can actually deliver, Cheng Siwei, a former top Chinese lawmaker, said on Saturday.

G-20 Ends Without a Deal

The European Union had hoped to come to a meeting of the Group of 20 large economies here with a grand plan to rescue the euro zone from its debt crisis, and to leave with the firm support of its international peers.

Finance ministers seek global economic solutions

The European debt crisis threatening the global economy with recession kept finance ministers and central bankers busy seeking ways to reduce the risk of events tumbling out of their control.

Under pressure from skeptical financial markets to produce results, the ministers sought to push forward with a program in which the Group of 20 major economies take steps to achieve their ambition of strong, stable balanced growth while wavering over helping Greece avoid a destabilizing default.

IMF Head: Downside Risks To Global Economy 'Piling Up'

WASHINGTON (Dow Jones)--Downside risks to the global economy are compounding, creating a crisis of confidence in markets around the globe, the head of the International Monetary Fund warned Friday.

"The bad news is that there are downside risks on the horizon, and they are piling up," IMF Managing Director Christine Lagarde told finance ministers and central bankers at the IMF and World Bank's fall meetings.

China, Russia endorse India's place in un Security Council

BRICS stands united on Libya, opposes use of force.

India has secured a significant endorsement of its aspirations for a permanent place in the United Nations Security Council or UNSC. India has been lobbying hard in various international forums for some time to gain a permanent seat at the UNSC, on the ground that the UN body should appropriately reflect the shift in power and relative importance in favour of developing countries like itself.

An ‘economic president’ who’s bad with politics

Three years ago today, President Lee Myung-bak took office vowing to be an “economic president.” And he proved true to his word, guiding Korea through the global economic crisis and bringing it back to strong economic growth. His approval ratings are high.

But the lowest mark on the Lee administration’s report card is how he plays politics. And in the remaining two years of the former business executive’s term, he’ll need sharper political skills than before - particularly an ability to communicate with the public and negotiate with the opposition - to avoid becoming a lame duck.