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India’s government appears set to relax heavily criticised sourcing rules for retailers, anxious not to scare off IKEA — one of the few big name firms that has said it will invest in the country — or any others willing to follow.
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India’s economy will grow at its slowest pace in a decade this fiscal year, with tight monetary policy, political gridlock and a weakening global economy prompting analysts to slash their forecasts, a poll showed on Thursday.
European stock markets nudged ahead at the start of trading on Thursday, with London’s benchmark FTSE 100 of top companies up 0.05 percent to 5,686.60 points.
NEW YORK - Gold fell for a second session on Wednesday on renewed fears over Europe’s debt crisis and as speculation receded that more stimulus to boost a slowing U.S. economy were imminent.
PARIS - Euro zone countries need to establish a banking union within the coming months, European Central Bank Governing Council member Christian Noyer said on Wednesday, urging member states to speed up the pace.
The 17 countries that use the euro have to integrate their economies further if they are to emerge from their economic crisis intact, the International Monetary Fund said on Wednesday.
LONDON - Copper steadied on Wednesday after falls in the previous session following a lack of an indication of further stimulus measures from the U.S. Federal Reserve, but gains were capped by a weak euro and concerns about Europe’s debt crisis and metals demand.
JAKARTA — Indonesia’s central bank Wednesday announced new regulations limiting bank ownership to 40 percent.
LONDON - European shares edged up on Wednesday, helped by estimate-beating corporate results, and extended a sideways move that was trapping the market as investors awaited greater clarity on the extent of the economic slowdown and the policy response to it.
Bank of America Corp reported a second-quarter profit on Wednesday as the second-largest U.S. bank cut costs and reduced reserves for loan losses.