IMF sees U.S. default as unlikely, but could be 'devastating'

(Reuters) - A U.S. debt default is an unlikely event, but one that could have catastrophic consequences for the world, the International Monetary Fund said on Tuesday.

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.

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.