U.S. Economy

WASHINGTON (Reuters) – President Barack Obama pressed Europe on Friday to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide. Setting the tone for a weekend G8 summit, Obama made clear he was aligning...
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MADRID (AP) — Concern grew for the stability of Spain‘s place in the fragile eurozone economy after reports of a rise in the level of bad loans on the books of its banks and word from the government Friday that it may have to revise its 2011 budget deficit upwards for a second time....
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HAVANA (AP) — An exploratory oil well off the northern coast of Cuba has proved a failure and will be capped and abandoned, Spanish company Repsol said Friday, a disappointment for a cash-strapped nation hoping for an economic lifeline. Trial and error is par for the course in oil exploration, however, and analysts said...
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KHARTOUM (Reuters) – Sudan, hit by an economic crisis since losing crucial oil revenues, will effectively devalue the pound by allowing foreign exchange bureaux to trade dollars at a level away from the official rate, a banking source and Sudanese media said on Friday. Sudan’s economy has been battered since the country lost three-quarters...
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TENSIONS EASED: Taiwan President Ma Ying-jeou has leveraged growing economic ties with China to reduce tensions to their lowest level since the two sides split in 1949. SECOND TERM: Ma’s second four-year term begins Sunday and the question is whether he can keep tensions at a low boil. China insists that Taiwan is part...
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WASHINGTON (Reuters) – U.S. President Barack Obama said after meeting French President Francois Hollande at the White House on Friday that the Group of Eight should focus on ways to promote growth alongside budget cuts in Europe to help ease the euro zone crisis. “President Hollande and I agreed that this is an issue...
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World stock markets mostly fell on Friday and the euro hit another four-month dollar low, slammed by a ratings downgrade for Greece and warnings for 16 Spanish banks, ahead of a crucial G8 meeting. In late morning deals, London’s benchmark FTSE 100 index dropped 0.96 percent to 5,286.83 points, Frankfurt’s DAX 30 lost 0.42...
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