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EU finance minister talks break down on bank closure regime European Union finance ministers failed early Saturday to reach an agreement on how to close down failing banks before they can do too much damage to the wider economy.

24 June 2013

US cuts prison term of disgraced Enron CEO Skilling A US judge cut 10 years off the prison sentence of disgraced former Enron chief executive Jeff Skilling on Friday after he spent years fighting his original 24-year jail term for fraud.

23 June 2013

Rousseff says Brazil can do better, slams violence Embattled president Dilma Rousseff admitted in a televised address that Brazil can do better and pledged to do more to fight corruption.

23 June 2013

One million march in Brazil's escalating protests At least one million people rallied across Brazil on Thursday in escalating mass demonstrations over the quality of public services and the high cost of staging the World Cup.

21 June 2013

Brazil fare hikes rolled back in victory for protests Brazil's two biggest cities on Wednesday rolled back transit fare hikes that had triggered massive protests as demonstrators clashed with police outside a Confederations Cup match.

20 June 2013

Deloitte fined $10 mn in US laundering case Big accountancy Deloitte was fined $10 million by New York state on Tuesday for its actions in advising Standard Chartered Bank over money laundering.

19 June 2013

OECD report to help G8 offensive against tax evaders The OECD provided ammunition Tuesday for an expected G8 offensive against tax evasion in a report outlining how to bring about automatic sharing of financial information that would shoot a hole through banking secrecy.

19 June 2013

Greece faces general strike amid fury over state TV closure Greek unions plan a 24-hour general strike Thursday, amid a storm of protest over the government's decision to shut down public broadcaster ERT as part of sweeping cost-cutting measures.

13 June 2013

World Bank sees less global growth, more stability The World Bank on Wednesday lowered its growth estimate for the global economy in 2013, but said that expansion appeared better balanced than just before the 2008 financial crisis.

13 June 2013

Consumers in crisis-hit Spain put brakes on spending Spaniards are buying fewer cars, fewer clothes and even cutting back on smoking as a grinding recession and rising unemployment force them to slash spending, dealing a severe blow to manufacturers and shops.

11 June 2013

Kerry renews $1.3 bn annual military aid for Egypt Secretary of State John Kerry last month approved $1.3 billion in annual US military aid to Egypt, despite concerns over democratic progress by the country's new government.

08 June 2013

Global cybercrime ring targeted by Microsoft and FBI Microsoft on Wednesday said it teamed with the FBI to disrupt armies of hacked computers used to commit more than a half-billion dollars in financial fraud around the world.

07 June 2013

IMF admits 'notable failures' in 2010 Greece rescue The International Monetary Fund on Wednesday admitted to significant failures in the first Greek rescue that forced a second, larger bailout and left the country in a deep recession.

06 June 2013

Hiring a smoker costs US firms $6,000 a head An employee who smokes costs his or her employer nearly $6,000 (4,500 euros) more per year than a non-smoker.

05 June 2013

EU, IMF, praise Greek progress battling debt Greece on Friday received a vote of confidence from international creditors over progress in overhauling its stricken economy -- and a fresh injection of cash from the IMF.

01 June 2013

Japan pledges $14 bn in aid to Africa over 5 years Japan said Saturday it would give $14 billion in aid to Africa over the next five years, as Tokyo scrambles to grab a share of resources and the potentially vast marketplace on offer.

01 June 2013

Cancer researchers warn US budget cuts block advances Cancer researchers warned Friday that federal budget cuts enacted by the US Congress could block key advances in the fight against deadly disease.

01 June 2013

Judge in case linked to Lagarde probed for fraud The judge in a corruption case linked to IMF chief Christine Lagarde has been placed under formal investigation for fraud.

31 May 2013

Kazakhstan has lowest gas prices in Europe Average gas price in Kazakhstan is 2.1 rubles ($0.07) per cubic meter while it makes 59.9 rubles ($1.924) per cubic meter in Sweden.

28 May 2013

Japan retains status as top creditor nation Japan kept its position as the world's largest creditor nation for the 22nd straight year in 2012, government data showed Tuesday, as the dollar's gains helped inflate the value of overseas assets.

28 May 2013

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