Analysis - Policy-making gets harder in wake of global credit

Greece's latest austerity steps have squeaked through parliament, avoiding an imminent default. Politicians in Washington may manage a similar last-minute trick later this year to raise the U.S. sovereign debt ceiling, allowing the United States to continue borrowing.

But almost wherever you look in the wake of the global financial crisis of 2007-2009, widening domestic and international faultlines -- including those between political elites and the people they rule -- are making economic policy-making a more anguished process.

Risk of global 'shocks' has increased, says OECD

The complex network of connections linking the world together leaves the global economy highly exposed to natural and man-made disasters, according to a new report from the influential think-tank the Organisation for Economic Co-operation and Development (OECD).

Can Global Economic Policy Be Freed From Its Paralysis?

The Bank for International Settlements in Switzerland has just published its annual report, and it is a dour document. The BIS (as it’s known) was created in 1930 to handle post-World War I reparation payments from Germany to Britain and France. The Great Depression ended reparations, and now the BIS provides—among other things—sober commentary on the global economy. Its latest report oozes foreboding.

BP report shows economic growth still depends on oil

The relationship between energy and global economic growth has never been clearer than in BP’s World Energy Statistical Review for 2010. No sooner had the global economy shook off the shackles from the last recession than energy demand exploded. It grew by more than 5.5 per cent last year, the largest annual increase in more than 30 years.

Not surprisingly, oil played a centre stage role in last year’s spectacular increase in global energy demand. It is, after all, the world’s single most important fuel, accounting for more than a third of all the global energy produced last year. What makes last year’s global oil numbers particularly interesting is the fact world oil demand had fallen in the two previous years - a victim to the global recession. They were the first annual declines in global annual oil consumption since 1983.

Roller-coaster ride for global economy

THE past six months have been a roller-coaster ride for the global economy with US growth concerns, inflation worries and the euro-zone debt crisis affecting investor confidence.

Besides these factors, the tsunami, earthquake and nuclear plant crisis in Japan have also dampened sentiment.

While the overall outlook was generally gloomier than last year, some glimmer in the flow of macroeconomic data inevitably would see investors betting that the worst is over.

Oil little changed, markets assess global economy

NEW YORK (AP) — Oil settled slightly higher Friday as investors weighed the latest economic data and the planned release of 60 million barrels of oil onto the world market.

Benchmark West Texas Intermediate crude for August delivery rose 14 cents to settle at $91.16 per barrel on the New York Mercantile Exchange. In London, Brent crude, which is used in many international blends, fell $2.14 to settle at $105.12 per barrel on the ICE Futures exchange.

KKR Hires Morgan Stanley’s Henry McVey to Advise on Macro-Economic Trends

KKR & Co., the leveraged-buyout firm led by Henry Kravis and George Roberts, hired Morgan Stanley’s Henry McVey to advise it on macro-economic trends.

McVey, who will be head of global macro and asset allocation, will help KKR and its clients assess global economic issues across the firm’s businesses, including private equity and hedge funds, New York-based KKR said today in a statement. Cyril Moulle-Berteaux, a founding partner of hedge fund Traxis Partners LP, is replacing McVey as head of the global asset- allocation team at Morgan Stanley, the New York-based bank said in a separate statement.