Record high food prices are moving to the top of policymaker agendas, driven by fears it could stoke inflation, protectionism and unrest and dent consumer demand in key emerging economies. The United Nations' food agency (FAO) said on Wednesday that food prices hit a record high last month, above 2008 levels when riots broke out

Facebook is generating profits at a faster-than-expected rate, and will likely attract so many investors this year that it will have to disclose financial data similar to a publicly traded company by April 2012, according to a document distributed by Goldman Sachs. The move could set the stage for a much-anticipated Facebook initial public offering

The Group of 20 developed and leading emerging economies will discuss steps to address soaring food prices, including regulating commodity-linked derivative trades, a senior G20 negotiator said on Friday. Rhee Chang-yong, G20 official for South Korea which hosted the G20 summit in November, told reporters working-group talks were under way to improve global cooperation to

The euro slumped to a four-month low against the dollar on Friday and looked set for more weakness if U.S. payrolls data meets recently raised forecasts, strengthening the case for a sustainable economic recovery. The greenback remained buoyed by an unexpectedly strong ADP employment report earlier in the week which showed a record number of

– Trade surplus narrows to 11.8 bln euros  Germany's trade balance narrowed in November, with imports gaining speed in a sign that domestic growth is gathering importance in Europe's largest economy. Exports, the traditional backbone of the German economy, rose less than forecast, gaining 0.5 percent on the month adjusted for seasonal swings, less than the

Two of Britain's biggest listed retailers reported a drop in sales in the run-up to Christmas as snow and sub-zero temperatures deterred shoppers already worried about rising taxes, public spending cuts and inflation. Next, Britain's No. 2 fashion chain behind Marks & Spencer, said on Wednesday sales at shops open at least a year fell

Oil prices fell further from 27-month highs on Wednesday as a stronger dollar sapped investor risk appetite for commodities, despite signs of tighter oil supply fundamentals. Oil staged a sharp rally in late December, helping to make commodities the top performing asset class in 2010 but prices have since retreated as investors opted to take

FIFA president Sepp Blatter has said there is too much domestic football, potentially putting himself on a collision course with European clubs who last year complained about the international fixture list. Blatter also said he wanted only professional referees to officiate at the 2014 World Cup in Brazil. "In my view, and this is something

Australia's record floods are causing catastrophic damage to infrastructure in the state of Queensland and have forced 75 percent of its coal mines, which fuel Asia's steel mills, to grind to a halt, Queensland's premier said on Wednesday. The worst flooding in decades has affected an area the size of Germany and France, leaving towns