OECD issues stark warning on global economy

PARIS (AP) — The Organization for Economic Cooperation and Development said Monday policy makers around the world must "be prepared to face the worst," as the economic impact of Europe's debt crisis threatens to spread around the developed world.

Stocks, Commodities Advance on Europe Outlook, U.S. Retail Sales

Nov. 28 (Bloomberg) -- Global stocks rose for the first time in 11 days and commodities and the euro advanced as European leaders drafted a framework for the region’s bail-out fund and America’s Thanksgiving retail sales jumped to a record. Treasuries declined.

Singh Opens Economy to Spur Rupee as 10% Drop Seen: India Credit

Nov. 28 (Bloomberg) -- Prime Minister Manmohan Singh is taking further steps to open up India’s economy to support the rupee as HSBC Holdings Plc and CLSA Asia-Pacific Markets predict the currency may slide another 10 percent.

European debt crisis escalates in Italy as rates rocket

MILAN (AP) – Italy's borrowing rates skyrocketed during bond auctions Friday, initally battering stock markets in Europe as the continent's escalating debt crisis laid siege to the eurozone's third-largest economy.

Hungary Credit Rating Cut to Junk at Moody’s

Hungary must redouble efforts to obtain International Monetary Fund aid and the central bank should raise rates to ease financing risks after Moody’s Investors Service cut the country’s credit grade to junk, said fund managers from Budapest to London.

High executive pay 'corrosive' to the UK economy, report warns

Government action to curb boardroom pay becomes more likely as an influential group with the ear of the business secretary, Vince Cable, publishes proposals to reduce the pay gap.

US panel says yuan is a threat to dollar's dominance

The yuan could threaten the US dollar's dominance as an international reserve currency an independent committee set up by the US congress has warned.