Global economy and finance
  • Global financial lenders are advising countries to prepare for the possibility of higher food bills in the coming months, but for the moment the InternationalMonetary Fund and World Bank see few signs of a widespread food price crisis like in 2007/08.

    LAST UPDATE : Aug 23, 2012, 4:04 AM EDT
  • Blindsided by the "ArabSpring", taken aback by the speed of the economic and geopolitical shift to Asia and apparently always a step behind on the Eurozone, Western governments are putting new effort into "horizon scanning" for coming seismic global shifts.

    LAST UPDATE : Aug 22, 2012, 6:05 PM EDT
  • World stock markets eased on Monday after weak Japanese economic data added to the latest reports showing a slowing global economy, while the euro rose as investors exited bearish bets against the common currency.

    LAST UPDATE : Aug 21, 2012, 9:59 PM EDT
  • While testifying about the economy before the House Financial Services Committee, Treasury Secretary Timothy Geithner responds to questions from Rep. Brad Miller, D-NC, about what he knew in 2008, when, as president of the Federal Reserve Bank of New York, that a key international interest rate, the London Interbank Offered Rate, or LIBOR, could be manipulated by large banks, on Capitol Hill in Washington, Wednesday, July 25, 2012.


    By Kirstin Ridley and Huw Jones

    LONDON, Aug 8 (Reuters) - Minos Zombanakis, born 86 yearsago on a Greek island, remembers the birth of the interest ratebenchmark now at the heart of a global rigging scandal well.

    "I was, more or less, if you excuse the lack of modesty, theone who started the whole thing," he laughs, speaking bytelephone from his village among citrus orchards in Crete.

    LAST UPDATE : Aug 21, 2012, 7:07 AM EDT
  • World stocks hit a three-month high and the euro gained on Tuesday as investors drew encouragement from signs that Europe is edging toward resolving its debt crisis.

    LAST UPDATE : Aug 21, 2012, 3:16 AM EDT