U.S. President Barack Obama said on Wednesday there was enormous consensus between the world's largest developed and emerging economies on plans to haul the world out of the deepest downturn since the 1930s.
U.S. President Barack Obama denied rifts between the world's leading economies on the eve of a crisis summit and urged them on Wednesday to act together to find the fastest route out of global recession.
U.S. President Barack Obama said on Wednesday there was enormous consensus between the world's largest developed and emerging economies on plans to haul the world out of the deepest downturn since the 1930s.
World stocks kicked off a new quarter Wednesday with strong gains in Japan and losses in Europe after registering their best monthly performance since December 1999.
France threatened on Tuesday to storm out of this week's G20 summit if it did not get the results it wanted, despite Britain's call for countries to unite and restore confidence to a broken world economy.
The World Bank announced a $50 billion program on Tuesday to counter a decline in global trade and Britain called on G20 leaders to supply the oxygen of confidence to drag the world economy out of recession.
U.S. Treasury Secretary Timothy Geithner heads for a summit of world leaders this week having strengthened his president's hand by rolling out key pieces of a U.S. financial rescue plan.
U.S. Treasury Secretary Timothy Geithner heads for a summit of world leaders this week having strengthened his president's hand by rolling out key pieces of a U.S. financial rescue plan.
The World Bank announced a $50 billion program on Tuesday to counter a decline in global trade and Britain called on G20 leaders to supply the oxygen of confidence to save the world economy from recession.
Five people suspected of planning to join protests against the G20 summit in London on Thursday have been arrested after weapons were found during a raid on a house in southwest England, police said on Monday.
Leading and emerging nations will commit this week to pursuing responsible economic policies that do not hurt each other's prospects with protectionism or currency devaluations, according to a draft G20 statement.
Center-left world leaders including Britain's Gordon Brown and Brazil's Luiz Inacio Lula da Silva on Saturday called for global financial reforms at next week's G20 summit, but the U.S. warned against over-regulation.
Thousands of people marched in Britain, France, Germany and Italy on Saturday to protest about the economic crisis and urge world leaders to act on poverty, jobs and climate change at a G20 summit next week.
He promised a grand bargain but British Prime Minister Gordon Brown's hopes of an overarching deal to pull the world out of recession look doomed even before the G20 crisis summit has started.
Leave the flash car at home, spend the night in a hotel, hire a bodyguard. This is the kind of advice security experts are giving bank executives who fear attacks from people angered by the financial crisis.
Japan edged closer to deflation, highlighting a threat to the world economy before next week's G20 summit where Europe and the United States may clash over stimulus plans, but seek common ground on regulating the financial system.
Japan slipped to the brink of deflation and inflation in Europe slid closer to zero, underlining a threat to the world economy before next week's G20 summit which is supposed to produce a cure for the crisis.
The following is an open letter from Franck Biancheri
Director of studies of LEAP/E2020 to the G20.
The United Nations is urging 20 of the world's most powerful economies to support a $1 trillion stimulus plan for developing countries when the 20 meet in London next month, U.N. officials said on Wednesday.
Financier George Soros said the G20 summit next month must support developing nations to prevent further market turmoil.
G20 finance ministers promised rescue money for troubled emerging market economies on Saturday and said they would use their full fiscal and monetary firepower to combat the worst downturn since the 1930s.
More spending will give only a brief sugar high if G20 nations fail to clean up their banks, the World Bank said on Friday as economic powers struggled to agree a response to the worst downturn in decades.