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The International Monetary Fund’s bid to win a big boost in funding to handle the euro-zone debt crisis hit a speed bump on Thursday when Brazil demanded more power at the IMF for emerging economies as a condition for lending it extra cash.
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Six months after the biggest scandal in corporate Japan for decades, shareholders of Olympus Corp were set on Friday to vote in a new board that will cement ties with its bankers but raise questions among foreign investors over whether any lessons have been learnt.
WASHINGTON — The World Bank on Monday chose Korean-born American health expert Jim Yong Kim as its new president, maintaining Washington’s grip on the job and leaving developing countries frustrated with the selection process.
Nestle, the world’s biggest food group, is closing in on a deal to buy Pfizer’s infant nutrition business for up to $10 billion to boost its business in China and extend its lead in the world of formula milk for babies, sources familiar with the matter said on Wednesday.
Dubai’s benchmark stock index declined the most this month after oil dropped and concern deepened Europe’s debt crisis is spreading. Arabtec Holding, the UAE’s biggest construction company, fell 2.1 per cent. Dubai developer Deyaar Development declined to the lowest in more than a month.
Gold prices steadied above $1,650 an ounce in Europe on Tuesday, taking a breather after two sessions of losses, as the euro rose to a session high against the dollar and stock markets extended gains after a well received Spanish debt auction.
The euro was steady on Tuesday, staying vulnerable ahead of a Spanish bill sale that could intensify concerns over the country’s precarious fiscal position as euro zone debt jitters showed no signs of abating.
India’s central bank cut its main interest rates by 50 basis points; its first reduction in three years.
WASHINGTON - Manufacturing activity growth in New York state slowed sharply in April as companies faced rising input prices, the US central bank reported Monday.
WASHINGTON - U.S. retail sales rose more than expected in March as Americans shrugged off high gasoline prices and bought a range of goods, suggesting that economic growth in the first quarter did not slow as much as many had feared.