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US tells China at G20 to avoid 'competitive devaluation' US tells China at G20 to avoid 'competitive devaluation' US Treasury Secretary Jacob Lew on Friday told his Chinese counterpart at a G20 meeting in Ankara to avoid competitive devaluation and improve communication of Beijing`s economic policy.
Wall Street falls as jobs report fuels rate hike anxiety Wall Street falls as jobs report fuels rate hike anxiety U.S. stocks were down in afternoon trading on Friday as a mixed August jobs report did little to quell investor uncertainty over whether the Federal Reserve will increase rates by mid-September.
EU loses 168 billion euros in sales tax fraud, errors EU loses 168 billion euros in sales tax fraud, errors EU countries lost 168 billion euros (USD 187 billion) in sales-tax revenue in 2013 mostly due to fraud and errors, the European Commission said on Thursday.
G20 promises transparency on rate moves as global economy disappoints G20 promises transparency on rate moves as global economy disappoints The text welcomed strengthening activity in some economies but said that global growth fell short of expectations, although it expressed confidence a recovery would gain speed.
US unemployment falls to 5.1%, lowest since April 2008 US unemployment falls to 5.1%, lowest since April 2008 The US economy generated a lower-than-expected 173,000 new jobs in August, the government reported Friday, but upward revisions to previous months` data sweetened the picture for hiring across the country.
British, Spanish PM urge `real` reform of eurozone British, Spanish PM urge `real` reform of eurozone The prime ministers of Britain and Spain called for a "real reform of the eurozone" that makes growth and free trade a priority, in a joint newspaper column published Friday ahead of their talks in Madrid.
US trade deficit drops to $41.9 billion in July US trade deficit drops to $41.9 billion in July The US trade deficit fell in July to the lowest level in five months as exports posted a small gain while imports declined, reflecting a big drop in shipments of consumer goods such as cell phones.
ECB flags beefed up QE as growth, inflation outlook fades ECB flags beefed up QE as growth, inflation outlook fades The European Central Bank cut its growth and inflation forecasts on Thursday, warning of possible further trouble from China and paving the way for an expansion of its already massive 1 trillion-euro plus asset-buying programme.
IMF says Fed `can hold off` on interest rate rise IMF says Fed `can hold off` on interest rate rise The International Monetary Fund said Thursday that the Federal Reserve has the room to hold off from raising interest rates for the moment amid a "pretty bumpy" global economic situation.
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