GDP

The United States does not need and cannot afford the Pentagon’s request for the F-35 Joint Strike Fighter, which will cost -- incredibly -- a mind-boggling $134.5 million per plane.

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According to the Knight Frank Wealth Report 2012, China will overtake the U.S. to become the world's largest economy by 2020, but by 2050, India will surpass both.

Russia, the world's ninth largest economy, cut its 2012 GDP forecast to 3.4 percent from 3.7 percent as investment growth is expected to decline, its economy minister said Friday.

The U.S. economy is expected to expand at a disappointing pace in 2012, similar to the tepid 1.7 percent growth rate achieved in 2011, despite recent job gains, according to economists at HSBC, who said wages have failed to keep up.

U.S. 30-year fixed-rate mortgages declined slightly to 3.98 percent in the week ending April 5 as recent economic indicators were mixed, mortgage finance giant Freddie Mac said Thursday.

The Bank of England held back from giving Britain's fragile recovery an extra boost on Thursday, as the economy appears to have avoided falling into recession despite a shock drop in manufacturing output in the first months of 2012.

Claims for jobless benefits fell to 357,000 last week, building up toward a solid March nonfarm payroll report that is scheduled to come out on Friday. Some economists though still fear that the improvement in the U.S. economy seen so far this year could be just another false start.

Last year we woke up to headlines involving the home of the Acropolis and one of the worst debt situations in recent history – Greece.

China’s Premier Wen Jiabao called the country’s state-owned banks a “monopoly” that has to be broken to allow freer flow of capital to loan-hungry smaller businesses, as the world’s second largest economy appears to have skidded to its slowest growth in three years.

Fresh figures on business activity and retail sales in the 17-member currency area reinforce earlier signs of recession, even as the European Central Bank left its main interest rate unchanged at an all-time low of 1 percent.

UK economy seems to be on the track to buck the trend in many other European countries where economic recovery continues to struggle.

Unions, students and others have protested the proposed cuts by staging huge demonstrations in Barcelona, Madrid and other cities across the beleaguered country.

In the face of falling exports as a percentage of its economy, China is trying to get its citizens to overcome a long-held propensity to save and start spending more on consumer goods.

With an economy four to five times the size of Greece, a financial collapse and bailout of Spain would be unthinkable for Europe.

The unemployment rate in the eurozone increased to its highest level in 14 years in February, as the region’s faltering economic growth left more than 17 million people jobless in the month.

Japan's government approved on Friday a bill to double the nation's consumption tax by 2015, which is seen as an important step towards putting the public finances on a sustainable path.

According to Deputy Prime Minister Soraya Sanez de Santamaria the 2012 draft budget will is set to cut government ministry spending by an average of 17 percent.

China responded to U.S. claims of alleged involvement in cyberattacks by calling the accusations irresponsible and unprofessional. A defense ministry official attacked attempts to implicate Beijing without proper investigation and irrefutable evidence.

The euro zone has fallen into a technical recession, according to Eurocoin, an economic activity indicator, confirming the economic weakness of the battered region.

Household income grew at a faster pace in the fourth quarter than previously thought as the jobs market strengthened, a development that could underpin consumer spending.