Financial and consumer-related shares rose in Asia and the U.S. dollar turned lower on Friday as G20 leaders pledged in a draft statement to keep some stimulus supports in place until a recovery is clearer.
World leaders at the G20 meeting on Thursday closed in on a statement urging new restraints on bankers' pay, a flashpoint for outrage in the global financial crisis.
President Barack Obama arrived at the Group of 20 summit in Pittsburgh on Thursday with an ambitious agenda to crack down on banks' risky behavior and rebuild the global economy on a more stable footing.
World leaders at the G20 meeting here on Thursday were closing in on a statement calling for new restraints on banker pay, but would not endorse specific monetary caps, a deal-breaker for the United States.
World leaders at the G20 meeting here on Thursday were closing in on a statement calling for new restraints on banker pay, but would not endorse specific monetary caps, a deal-breaker for the United States.
German Chancellor Angela Merkel warned on Thursday that a U.S. drive to rebalance the global economy risked distracting the Group of 20 from a more urgent need for market regulation at their Pittsburgh summit.
Global leaders will institutionalise the G20 as the world's main economic governing council, British Prime Minister Gordon Brown said on Thursday.
World stocks slipped from the previous day's 11-month high on Thursday as falling oil prices and caution ahead of the Group of 20 summit prompted investors to cut back on risky assets.
International leaders representing the Group of 20 leading industrial nations and the European Union are gathering at Pittsburgh in the north eastern U.S. for the next two days to focus on the task of ensuring that the world emerges from the economic crisis as soon as sustainably possible.
U.S. stock index futures were flat on Thursday as investors awaited data on home sales and jobless claims for an indication of the state of the economy following a sharp sell-off in the last session.
A U.S. drive to build a more balanced global economy gained the qualified support of China on Wednesday in a sign that Group of 20 leaders may be ready to take joint action to prevent future economic crises.
The OECD signaled on Wednesday that Switzerland would soon be taken off a list of financial centers judged to fall short of international standards of cooperation in tax evasion inquiries due to bank secrecy rules.
China offered some support on Wednesday to U.S. plans to build a more balanced global economy, as world leaders seek to agree ways to nurture a tentative recovery and prevent future crises.
G20 countries must sign up to a new agreement setting clear objectives on how they can contribute to more balanced global economic growth, Prime Minister Gordon Brown said on Wednesday.
Who, What, When, Where, Why and How about the Pittsburgh G20 Summit
The United States is still working toward an agreement with G20 partners to phase out subsidies for fossil fuels, a top White House adviser said ahead of this week's G20 summit.
India's prime minister called on Group of 20 nations on Wednesday to send a strong warning against protectionism this week as world leaders seek to shore up a tentative global recovery and prevent future economic crises.
Leaders from some of the largest Western powers rallied support Tuesday behind a U.S. plan to build a more balanced global economy and warned against returning to business as usual once recovery takes hold.
Support grew on Tuesday for a U.S. plan to build a more balanced global economy and leaders warned against returning to business as usual once recovery takes hold.
British Prime Minister Gordon Brown said on Tuesday there was substantial support among the Group of 20 nations for creating a new framework to tackle global economic imbalances.
U.S. Treasury Secretary Timothy Geithner on Tuesday said that the U.S. economy appeared to be picking up steam and G20 leaders gathering in Pittsburgh this week would strive to ensure the recovery was balanced.
The euro hit a one-year high against a sliding dollar on Tuesday as dealers resumed selling the U.S. currency following its rise the previous day, while markets awaited a Federal Reserve policy decision and Group of 20 summit later in the week.
