Bernanke Warned by Barnier That Bank Unit Rules Risk Retaliation

The European Union intensified its campaign against U.S. Federal Reserve proposals to toughen oversight of bank units belonging to overseas lenders, warning of “potential retaliation” against the plans because they will drive up costs.

BoJ policy welcome for world growth: IMF's Lagarde

BOAO, China (Reuters) - The head of the International Monetary Fund hailed Japan's unprecedented monetary policy boost this week as a welcome support for a world economy that she said has improved from a year ago.

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.

Leaders: Asia-Pacific free trade vital to recovery

KAPOLEI, Hawaii (AP) — Opening markets to freer trade is crucial to a lasting global economic recovery, Asia-Pacific leaders agreed Sunday as they wrapped up a summit that produced tangible progress toward a U.S.-backed regional trade bloc.

Bank of Israel Cuts Growth Forecast on Global Economy Risk

The Bank of Israel cut its forecasts for economic growth this year and next, citing increased uncertainty about the global economy and a decline in the rate of growth in world trade.

Uncertainty regarding the continuation of the global economic recovery increased significantly since the previous forecast was prepared, at the end of July, which was published as part of the Monetary Policy Report for the first half of 2011. Investment banks and international entities are revising their forecasts downward, under the assessment of an increased probability of a global recession, even if one not as strong as in 2008–09. In its September outlook, the International Monetary Fund (IMF) pointed to two developments on which it based these estimates.

Global oil stocks release seen on halt for now

(Reuters) - Developed nations are unlikely to release more oil on to the market in coming days, a month after the first release failed to curb oil prices to help protect the global economic recovery, officials and analysts said.

The energy watchdog for industrialized nations, the International Energy Agency, shocked oil markets last month by announcing a release of 60 million barrels of oil and products to offset the loss of Libyan production.

Samsung Says Japan Quake, Oil Prices to Slow Global Growth

Samsung Electronics Co., the world’s largest maker of televisions and memory chips, forecast that Japan’s worst earthquake on record and higher oil prices will undermine the global economic recovery this year.

That will probably prevent the electronics industry from experiencing much of an improvement in 2011, Samsung Electronics Chief Executive Officer Choi Gee Sung said during the company’s annual shareholders’ meeting in Seoul today. Samsung will continue to boost sales and profit by cutting production costs and developing premium products, Choi said.

Going global

Globalisation may seem at odds with the current mood of tentative economic recovery but, as Mark Frary discovers, thinking big can offer businesses some very real benefits...

The green shoots of recovery may be starting to appear, but that does not mean the pressure on travel buyers at multinational companies to keep their costs under control has subsided.

Indeed, the global economic landscape is still undergoing a seismic restructuring. As a result, merger and acquisition activity has increased as companies try to manage the huge piles of cheap debt they used to grow in the golden years, and companies with cash look to make clever buys of rivals in trouble.

Japanese shares down on unrest in Middle East

Japanese stocks declined in Wednesday morning trading as investor sentiment was hurt by turmoil in the Middle East.

The benchmark Nikkei 225 Stock Average lost 20.9 points, or 0.2 percent, to trade at 10,643.8 while the broader Topix index was down 1.39 points, or 0.15 percent, at 955.31.

Korean Won Drops on Concern Mideast Tensions Will Derail Global Recovery

South Korea’s won fell to its lowest in more than a week on concern rising fuel prices caused by escalating tensions in the Middle East will derail the global economic recovery, hurting exports. Government bonds advanced.

Foreign investors sold more Korean stocks than they bought for the first time in four days as security forces in Libya, holder of Africa’s largest oil reserves, attacked anti- government protesters following ousters of leaders in Tunisia and Egypt. The Kospi index of shares sank to a two-month low as crude oil climbed to the highest level since September 2008. Stock prices of builders slumped the most since 2009, led by Hyundai Engineering & Construction Co., on concern orders will fall as Korean construction sites were attacked in Libya.