Stocks and the euro fell on Tuesday after ratings agency S&P downgraded Italy and as Greece held talks with creditors to avoid running out of cash within weeks, amid worries that Europe's debt woes will trigger a full-blown banking crisis. Oil and copper prices steadied, after tumbling on Monday on concerns the economic damage wreaked

Hong Kong shares inched higher on Tuesday, led by defensive issues that have outperformed the market as spooked investors sought safer bets in lingering weakness that has shaved 18% off the Hang Seng Index in the year to date. Mainland telecommunications counters rose, led by China Mobile Ltd and China Unicom (Hong Kong), as investors

President Barack Obama will lay out a plan on Monday to cut the U.S. deficit that will raise taxes on the rich, striking a populist tone to motivate his Democratic Party base before the November 2012 election. Obama will vow to veto any cuts proposed for the government-run Medicare health program for the elderly unless

World stocks fell sharply on Monday, snapping a four-day advance, while the euro shed more than 1% as investors feared a possible Greek debt default and the fallout on the entire euro zone. European officials ended a weekend meeting without agreeing on new ways to tackle the debt crisis. International lenders told Greece on Monday

International lenders told Greece on Monday it must shrink its public sector and improve tax collection to avoid default within weeks as investors spooked by political setbacks in Europe dumped risky euro zone assets. Hours before a telephone conference between the Greek Finance Minister and senior EU and IMF officials, the IMF representative in Greece

The Lloyd's of London insurance market will this week report a half-year loss of 1.5 bln pounds ($2.37 bln) after absorbing a record surge in natural catastrophe claims, according to an estimate from audit firm Mazars. The projected loss, which compares with a 628 mln pound profit a year earlier, is based on first-half results

Luxury car maker Jaguar Land Rover, part of Indian group Tata Motors, said it will invest 355 mln pounds ($561 mln) on a new engine plant in central England, which fought off competition from India with backing from the UK government. The government, keen to support manufacturing in Britain, will provide up to 10 mln

German central bank Governor Jens Weidmann warned parliament on Monday that new measures taken by the euro zone do not encourage countries to get their budgets in order. He said further steps towards liability sharing without weaker states having to surrender some of their economic decision-making set the wrong incentives. "The decisions (from July 21)