Nish Amarnath

The Fed will drop its wavering plans for a fresh spate of monetary stimulus measures, according to Bernard Baumohl, chief global economist at the Economic Outlook Group.

The exit of one or more countries from the euro zone could drive gold prices significantly higher by the end of this year, according to a Friday Capital Economics report.

At a time when the U.K. is in a recession, what will the Olympics mean for the country's sagging economy? Will the event worsen the ongoing recession or help initiate economic recovery?

As Congress makes it easier for taxpayers to collect refunds from the Internal Revenue Services (IRS), scores of crooks have been stealing people's identities, costing the debt-ridden federal government billions of dollars.

Thalia Paraskeva, 24, was getting increasingly desperate. Equipped with a degree in graphic design from Athens, she had no luck finding a job in Greece. One day, she booked a ticket to Berlin and swiftly packed some dresses, a jacket, a pair of snug boots and a Greek-German dictionary before boarding the plane.

The financial situation in Iraq, one of the world's largest reservoirs of crude oil, has become grave.

For-profit colleges, which are squandering their resources at the expense of students' outcomes, are bilking the government and the public, a two-year investigation led by Sen. Tom Harkin (D-Iowa), chairman of the U.S. Senate Committee on Health, Education, Labor and Pensions, concluded.

The number of unemployed people across all 17 euro zone countries soared 11.2 percent to 17.8 million in June -- up 1 percentage point from the year before, Eurostat, the European Union's statistical agency, reported Tuesday. Euro zone unemployment among people younger than 25 rose to 22.4 percent.

Despite rising income at the end of the second quarter, U.S. consumer spending fell in June by 0.1 percent from the month before, the Commerce Department said on Tuesday.

The wheat production downgrade, made after corn and soybean prices reached fresh, all-time highs, is a blow for global wheat suppliers, especially those in Canada and the Black Sea, which includes Russia, Kazakhstan and Ukraine, Barclays PLC said on Monday.

Energy infrastructure company Chicago Bridge & Iron Company NV (NYSE: CBI) will buy The Shaw Group Inc. (NYSE: SHAW), a Baton Rouge, La.-based engineering and construction firm, for about $3 billion in cash and stock, the companies said Monday.

Pfizer Inc. (NYSE: PFE), the world's largest drug developer by revenue, is expected to report a decline in second-quarter profits on declining sales of its top-selling cholesterol drug Lipitor and generic competition for its glaucoma pill Zalatan.

The hefty $7.25 billion settlement that Visa and MasterCard have agreed to, in response to a 2005 class action lawsuit over credit card swipe fees, will disadvantage retailers further and restrict consumer spending in an economy that relies heavily on credit card use and personal expenditure.

The U.K. Home Office's hard-nosed line on immigration cuts new avenues for job growth and business investments, further jeopardizing an economy that is under the sway of a double-dip recession.

Thousands of irate protesters swarmed over Hong Kong's thoroughfares on Sunday and marched toward government headquarters to lash out against a government-proposed school curriculum plan, which they said was an attempt to indoctrinate students by lauding the feats of the Chinese Communist Party.

The influx of millions of conscientious and low-cost Chinese graduates in the global job market could exacerbate the woes of a U.S. job market that is already staggering from high unemployment.

Global economic uncertainty and the dreaded fiscal cliff have taken a toll on American consumer demand, affecting second-quarter revenues and urging companies to dim their forecasts. DuPont and Co, Texas Instruments, Inc. and United Parcel Service, Inc. are the latest to do so.

Based on analyst estimates, Merck & Co. will report earnings of $1.01 a share on sales of about $12.16 billion -- an increase of 0.1 percent from the year-earlier quarter. The company posts its second-quarter earnings on Friday, before the opening bell.

Based on a median estimate among analysts polled by Thomson Reuters, ExxonMobil will report earnings of $1.96 a share on revenues of about $115.08 billion -- a decline of 8.3 percent from the year before. The company will post its second-quarter earnings on Thursday at 10 a.m. EDT.

Wal-Mart, in a bid to protect consumers, said it was not happy with the proposed $7.25 billion retailers' settlement with Visa Inc., and MasterCard Inc., over interchange and processing fees to cover credit and debit card payments.

As U.S. President Barack Obama shifts the focus of his re-election campaign from joblessness to income inequality, unemployment has increased in more than one-half the country's states this year.

U.S. consumer spending will grow at a meager rate of 1.5 percent to 2 percent by the end of this year, Sterne Agee, a U.S. brokerage and investment firm said on Friday in a report.

The Federal Reserve Bank of New York is proposing that money market managers be empowered to hold back depositors' money for 30 days in the event of a run on funds. The controversial proposal is being called by critics a kind of capital control.

Standard & Poor's (S&P) Capital IQ equity analyst Todd Rosenbluth changed his rating on Verizon Communications (NYSE: VZ), from Hold to Strong Sell after the $128.4 billion-cap mobile service carrier posted its second-quarter earnings Thursday morning.

Gold continues to fare better than other asset classes in spite of a downward pressure on prices.

Britain risks permanent damage to its economy if the government does not adopt fiscal stimulus measures to reverse the country's recession, the International Monetary Fund (IMF) warned Thursday as it pressed for a reduction in the country's deficits to jumpstart its ailing economy.

Capital One agreed to pay $210 million to resolve two regulatory cases arising from its crooked marketing and billing practices.

Nass Contracting Co., a wealthy Bahraini construction giant that was recently under fire from human rights groups, announced on Tuesday that it would permit its workers to leave the country and return home.

As Washington struggles to address America's intensifying fiscal woes, it is getting help from an independent and growing brigade of budget experts, business tycoons and civic leaders.