Business - Global Economy

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  • Sovereign debt fears stalk world markets

    AP – Wed Dec 9, 10:17 am ET  
    FILE - In this Jan. 30, 2009 file photo, a trader leans on a... AP

    LONDON - World stock markets fell Wednesday as investors worried about sovereign credit risks, particularly in Europe, in the wake of Greece's rating downgrade. Full Story »

  • Greece admits crisis, promises rapid budget action

    AFP – Wed Dec 9, 8:54 am ET  
    A man peers out from the door of the Bank of Greece in Athens,... AFP/Topshots/File

    ATHENS (AFP) - Greece revealed on Wednesday that it is working on radical action to reverse a deepening financial crisis which is straining eurozone cohesion and focusing market anxiety on emerging economies. Full Story »

  • In Bhutan, a stock trade a day keeps stress away

    Reuters – Wed Dec 9, 1:18 am ET  
    A truck passes through a mountain road in Thimphu November 18,... Reuters

    THIMPHU (Reuters Life!) - Traders seeking a break from volatile global markets may want to head to Bhutan's bourse, where stocks are traded on just four computers -- when they have not crashed -- only twice a week. Full Story »

  • Stock market drops as dollar strengthens

    AP – Tue Dec 8, 6:06 pm ET  
    FILE - In this Sept. 15, 2008 file photo, stock broker Andrew... AP

    NEW YORK - Investors sought safety Tuesday as concerns about spiraling debt loads and disappointing corporate reports tarnished hopes for an economic recovery. Full Story »

  • No trade pact without farm subsidy cuts: India

    AFP – Tue Dec 8, 8:33 am ET  
    An Indian farmer dries corn in the village of Tejgadh some 200kms... AFP/File

    NEW DELHI (AFP) - India insisted Wednesday there would be no global trade agreement so long as the rich nations refused to agree to deep cuts in their farm subsidies. Full Story »

  • Japan unveils new $81 billion stimulus package

    AP – Tue Dec 8, 3:43 am ET  
    In this Nov. 30, 2009 photo, vehicles go through Tokyo's Omotesando... AP

    TOKYO - Japan's government on Tuesday unveiled $81 billion of new stimulus spending to keep the world's second-biggest economy from lurching back into recession. Full Story »

  • IMF gives 9.3-mln-dollar lifeline to tsunami-stricken Samoa

    AFP – Mon Dec 7, 7:14 pm ET  
    A view of the Litia Sini Beach Resort in Samoa in October 2009... AFP/File

    WASHINGTON (AFP) - The International Monetary Fund announced Monday it would provide a 9.3-million-dollar lifeline to Samoa to help the country recover from a September earthquake and tsunami disaster. Full Story »

  • Kaufman warns of commodities bubble

    Reuters – Mon Dec 7, 2:55 pm ET  

    NEW YORK (Reuters) - A bubble has formed in commodities as "speculative fervor" returns to markets after the global financial crisis, veteran Wall Street economist Henry Kaufman said on Monday. Full Story »

  • Basescu wins Romanian election, rivals cry foul

    Reuters – Mon Dec 7, 2:49 pm ET  
    A woman of the Romanian gypsy minority casts her vote at a polling... Reuters

    BUCHAREST (Reuters) - Romanian President Traian Basescu narrowly won re-election but his leftist challenger alleged fraud and vowed to contest the result, extending a deadlock that has imperiled an IMF-led financial rescue deal. Full Story »

  • WTO's Lamy named to Thomson Reuters panel

    AFP – Mon Dec 7, 2:13 pm ET  
    Temporary signboard is displayed on the Thomson Reuters building... AFP/File

    LONDON (AFP) - The director general of the World Trade Organisation, Pascal Lamy of France, has been named to a panel responsible for monitoring the principles governing the operation of the news and financial services agency Thomson Reuters, agency said Monday. Full Story »

  • Oil drops below $75 on continuing demand concerns

    Reuters – Mon Dec 7, 3:01 pm ET  
    An employee fills a car with petrol at a gas station in Jammu... Reuters

    NEW YORK (Reuters) - Oil fell toward $74 a barrel on Monday as low demand for crude oil in the wake of the economic downturn continued to pressure prices, outweighing last week's strong U.S. job report. Full Story »

  • Harvard B-School Dean Jay Light Stepping Down

    BusinessWeek – Mon Dec 7, 8:08 am ET  

    (Bloomberg) -- Harvard Business School (Harvard Full-Time MBA Profile) Dean Jay Light, who oversaw the school during the global financial crisis that challenged business education and slashed the value of Harvard's endowment, will retire in June, after five years in the position. Full Story »

  • Why Dubai Matters

    BusinessWeek – Mon Dec 7, 8:08 am ET  

    Dubai -- After Dubai announced in late November that the state-controlled investment firm Dubai World was seeking to reschedule payments on some $26 billion of debt, global markets went into a tailspin. While foreign bourses quickly rebounded, local shares have taken a pounding, and the credibility of Dubai's leadership has suffered serious damage. Yet lost in all the drama is the fact that Dubai is an important economic experiment in a strategically vital region. ... Full Story »

  • What Lurks on the Books of Banks

    BusinessWeek – Mon Dec 7, 8:08 am ET  

    At first glance, banks seem to be recovering nicely from the financial crisis. But investors cheered by optimistic earnings reports could soon face a painful surprise. Full Story »

  • Brown vows to axe 3.0 billion pounds via cost savings

    AFP – Mon Dec 7, 4:25 pm ET  
    Prime Minister Gordon Brown has pledged to axe 3.0 billion pounds... AFP/Pool

    LONDON (AFP) - Prime Minister Gordon Brown pledged Monday to axe 3.0 billion pounds from public spending in extra savings to help cut the nation's debt. Full Story »

  • US expects to recover most bank rescue money: report

    AFP – Mon Dec 7, 12:01 am ET  
    The US Treasury in Washington, DC, seen here, expects to recover... AFP/File

    WASHINGTON (AFP) - The US Treasury Department expects to recover all but 42 billion dollars of the 370 billion it has lent to troubled US companies since the financial crisis began last year, The New York Times reported. Full Story »

  • World trade to fall "unprecedented" 10 pct: Lamy

    AFP – Sun Dec 6, 10:57 pm ET  
    Cargo ships dock at Malaysia's Klang port near Kuala Lumpur.... AFP/File

    SEOUL (AFP) - Global trade this year is likely to fall by an "unprecedented" figure of more than 10 percent, the head of the World Trade Organisation said Monday. Full Story »

  • Chinese wind power companies target global markets

    AP – Sun Dec 6, 12:20 pm ET  
    FILE - In this Sept. 8, 2009 file photo, a farmer and his donkeys... AP

    BEIJING - China's Goldwind Science & Technology Ltd. is one of the world's biggest makers of wind turbines — a cornerstone of the booming clean power business — but is unknown outside its home country. Full Story »

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