President Barack Obama vowed to get tough on unfair trade practices by nations such as China, and said the U.S. will give aid to help domestic companies compete.
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President Barack Obama called on Congress to require the highest earners to pay at least 30 percent of their income in taxes, building on his election-year push for what he terms economic fairness.
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Australian consumer prices were unchanged last quarter banana costs plunged, while a measure of core inflation that accelerated more than economists forecast sent the currency higher.
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Japan posted a trade deficit of 2.49 trillion yen ($32 billion) in 2011, the first since 1980, the Finance Ministry said in Tokyo today.
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European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said there are signs that investor confidence in the euro-area economy is returning and growth may be about to rebound.
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Greece is likely to default in the first half of this year, an event that’s poised to leave the country with a “very high” debt burden, according to John Chambers of Standard & Poor’s .
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WASHINGTON (Reuters) - The U.S. economy appears to have shaken off the gloom from Europe's debt crisis in the fourth quarter, pushing ahead at what was likely its fastest pace in nearly two years.
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Bank of England Governor Mervyn King said slower inflation gives policy makers room to increase bond purchases to aid the U.K. economy and guard against a “renewed severe downturn.”
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The Bank of England stands ready to engage in further stimulus and extend support to lenders facing funding shortages in order to shepherd the U.K. economy through a new global slowdown, BOE Governor Mervyn King said.
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WASHINGTON (Reuters) - The Federal Reserve is expected to break new ground this week by providing a clearer window into official thinking on monetary policy and is expected to signal that interest rates will be held near zero into 2014.
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