Obama breaks off vacation to deal with fiscal cliff
President Barack Obama was to cut his holiday short and head back to Washington on Wednesday to try to address the "fiscal cliff," a set of tax hikes and spending cuts to take effect next year.
27 December 2012
China and emerging powers to pay more for UN
China, Brazil, India and other emerging powers agreed to major increases in their United Nations payments as the global body hammered out a new budget deal this week to avoid its own fiscal cliff.
US stocks lower on 'fiscal cliff' pessimism
US stocks slid during a shortened Christmas Eve session Monday amid pessimism about prospects for a "fiscal cliff" deal by the end of the year.
Vietnam seeks economic boost with fresh rate cuts
Vietnam on Monday cut its key interest rates for the sixth time in 2012 in an attempt to boost an economy growing at the weakest pace in more than a decade.
Belize PM says debt deal reached with creditors Belize has reached a deal in principle with creditors to restructure about half of its unpaid debt after "long and arduous" talks, allowing the country to avoid default.
Christmas debt boons for Greece but risks remain Greece opened its Christmas stockings early this year with an unexpected debt rating boon and European Central Bank support but analysts warn that risks remain in the troubled nation's fragile fiscal recovery.
20 December 2012
Obama, Boehner spar on fiscal cliff, deal may go to wire US President Barack Obama and House Speaker John Boehner dueled over the fiscal cliff Wednesday, and despite narrowing differences remained stubbornly at odds over how to avoid looming tax hikes and spending cuts.
20 December 2012
World Bank ups Chinese growth projection for 2013The World Bank on Wednesday upwardly revised its projection for Chinese economic growth in 2013 from 8.1 percent to 8.4 percent, but predicted the rate would taper off in the longer run.
AU Optronics executive guilty in LCD price-fixing case A US jury on Tuesday found a former senior manager at Taiwan-based AU Optronics Corp. guilty of taking part in a global scheme to rig prices of liquid crystal display screens.
19 December 2012
IMF's Argentina censure motion set for late January The International Monetary Fund said Monday its executive board is unlikly to consider until late January any possible action against Argentina for failing to supply accurate economic data.
18 December 2012
EU leaders end year on high with Greece, bank deals EU leaders put a crisis-hit year behind them at the last summit of 2012 Friday, trumpeting hard-fought deals on Greece and banks but seemed to row back on reforms to fix the euro's shortcomings.