European officials met on Tuesday to sketch out options for a second bailout package for Greece, with private sector participation still under discussion to help relieve the country of its massive debt burden.
U.S. stock index futures advanced on Tuesday as the euro rose against the dollar and commodity prices jumped on optimism that new aid for Greece from the European Union was on the horizon.
Euro zone inflation slowed in May largely thanks to lower oil prices, but the dip is likely to be temporary and will not stop the European Central Bank from raising interest rates in July.
German carmaker Volkswagen formally launched its bid for MAN on Tuesday, in a move toward creating Europe's biggest truckmaker.
U.S. stock index futures advanced on Tuesday as the euro rose against the dollar and commodity prices jumped on optimism that new aid for Greece from the European Union was in the offing.
Euro zone consumer prices grew slower than expected in May, though remained well above the European Central Bank's target, data showed on Tuesday, while unemployment held steady in April for the third month.
India's economy grew at its slowest annual pace in five quarters in January to March, as rising interest rates crimped consumption and investment, which some analysts say could temper the pace of central bank tightening to tackle inflation.
Greece and a team of EU, IMF and ECB inspectors reviewing the country's economy have agreed on a value-added tax cut to help achieve a broader political consensus on more austerity, a Greek newspaper said on Tuesday.
The Bank of Japan's loan scheme targeting growth industries drew solid demand on Tuesday, pushing its cumulative lending to just 60 billion yen ($740 million) from a 3 trillion yen cap and paving the way for debate within the board about expanding it.
Emerging nations are still conducting lots of consultations about choosing a candidate from their ranks to head the International Monetary Fund, South African Finance Minister Pravin Gordhan said on Tuesday.
Franco-Belgian financial group Dexia is to hold talks with European Union regulators in the coming days to amend a restructuring plan which it agreed to after receiving a bail-out in 2008.
Moody's Investors Service said on Tuesday it has seen no progress on a consensus between Japan's government and opposition on fiscal policy, suggesting that a sovereign debt rating downgrade was likely after it completes a review within the next three months.
India's economy grew at its slowest pace in five quarters during the March quarter, as rising interest rates crimped consumption and investment, although the central bank is expected to continue tightening rates in its battle against inflation.
Japan's economy offered more signs of recovery from the deadly March earthquake on Tuesday, but Moody's ratings agency warned both growth and government action may fall short of what is necessary to bring Tokyo's ballooning debt back under control.
A non-European head of the International Monetary Fund could mean a tougher, more realistic action plan for the euro zone debt crisis, Mexican central bank chief Agustin Carstens said in newspaper interviews on Tuesday.
The euro hit a three-week high versus the dollar on Tuesday on a report that Germany could make concessions on efforts to put together a bailout for Greece, while Japanese shares rose on data suggesting industrial activity has begun to recover from a March earthquake.
Goldman Sachs invested more than $1.3 billion from Libya's sovereign-wealth fund in currency bets and other trades in 2008 and the investment lost more than 98 percent of its value, the Wall Street Journal reported, citing internal Goldman documents.
The European Union is racing to draft a second bailout package for indebted Greece to release vital loans next month and avert the risk of the euro zone country defaulting.
Japan's economy showed more signs of recovery from the deadly March earthquake and tsunami with last month's industrial output inching up and manufacturers planning to crank up production further in May and June, bringing it near pre-disaster levels.
The euro hit a three-week high versus the dollar on Tuesday on a report that Germany could make concessions on efforts to put together a bailout for Greece, while Japanese shares rose on data suggesting industrial activity has begun to recover from the March earthquake.
Brent crude oil fell below $115 a barrel on Monday, heading for its first monthly decline this year, as investors weighed the prospect that Europe's debt crisis and a sputtering U.S. economy may slow demand.
French Finance Minister Christine Lagarde pledged to push reforms to give Brazil and other emerging economies more influence at the International Monetary Fund as she kicked off a worldwide tour on Monday to win support for her candidacy to lead the global lender.
We're in no danger of hyperinflation because the Fed is not printing money. That's not what the program is all about. Instead it was a gamble meant to lift the prices of stocks and commodities, which it did - but which could now colapse very quickly when QE2 ends.
Exchange giant NYSE Euronext is looking to set up two parallel clearing services if it seals its proposed deal to buy Anglo-French clearing house LCH.Clearnet as well as merging with Deutsche Boerse .
The European Union is racing to draft a second bailout package for Greece to release vital loans next month and avert the risk of the euro zone country defaulting, EU officials said on Monday.
French Finance Minister Christine Lagarde arrived in Brazil on Monday seeking to win support from one of the most influential emerging economies for her bid to the lead the International Monetary Fund.
Ireland's government moved on Monday to quash speculation it would be forced to seek a second EU-IMF bailout and said it would make a tentative return to international debt markets in the final quarter of next year.
Ratings agency Standard and Poor's cut its credit rating on Tokyo Electric Power <9501.T> to junk status on Monday, saying the utility's lenders were more likely to be forced to write off debt as part of a plan to compensate victims of an ongoing nuclear crisis.
In a country where being connected is seen as crucial, Ushi, China's answer to LinkedIn, expects explosive growth over the next few years in the world's largest Internet market.
Ratings agency Standard and Poor's cut its credit rating on Tokyo Electric Power <9501.T> to junk status on Monday, saying the utility's bank lenders were more likely to be forced to write off debt as part of a restructuring scheme to compensate victims of an ongoing nuclear crisis.
