Global economy on recovery path, risks remain: IMF chief

Reuters– The global economy has stepped back from the brink of danger and signs of stabilization are emerging from the euro zone and the United States, but high debt levels in developed markets and rising oil prices are key risks ahead, the IMF said on Sunday.

“The global economy may be on a path to recovery, but there is not a great Read more of this post


Growth China’s top priority, inflation key risk-NDRC

Reuters– China’s economic policy priority is to maintain relatively fast growth, but Beijing cannot lower its guard against inflation risks, the head of the country’s top planning agency, the National Development and Reform Commission, said on Sunday.

“First of all, we need to maintain steady and relatively fast economic Read more of this post

Soldier suspected in Afghanistan massacre to meet with lawyers

Reuters– A lawyer representing the U.S. soldier implicated in the massacre of 16 villagers inAfghanistan said on Saturday he and other members of the defense team would spend several days with him in the week ahead.

U.S. Army Staff Sergeant Robert Bales is in solitary confinement at a military detention center Read more of this post

Dollar gains; shares slip on China growth woes

Reuters-– Asian shares eased on Thursday on renewed concerns about Chinese growth, but a brighter global economic outlook underpinned the dollar and kept investor risk appetite intact, reducing the appeal of safe-haven government debts.

Financial spreadbetters expected major European markets .FTSE .FCHI.GDAXI to open Read more of this post

Bernanke says Fed to make bank rules clearer

Reuters–  The Federal Reserve will try to make it clearer whether new banking rules apply to small lenders, Federal Reserve Chairman Ben Bernanke said in remarks on Wednesday.

Bernanke said the goal is to prevent community banks from wasting time and money trying to figure out if a new regulation applies to them.

“Although this change seems relatively simple, we hope it will help banks avoid allocating precious resources to poring over supervisory guidance that does not apply Read more of this post

Hungary aid frozen by EU over budget deficit

BBC– The European Union has decided to suspend 495m euros ($655m) of funds due next year to Hungary, because of the country’s budget deficit.

This is the first case of the EU taking action over the budget deficit of any of its members.

But the EU will allow three months for Hungary to pass more budget cuts.

The decision came Spain will have to cut its deficit to 5.3% of GDP this year – higher than the 4.4% that Spain was originally told to target Read more of this post

Dharun Ravi ‘is no gay-hater’

A US student accused of using a webcam to spy on a homosexual encounter involving his room-mate is not a criminal, his defence lawyer says.

Steven Altman told jurors in closing statements that Dharun Ravi Read more of this post