Legal "safety valves", allowing countries to suspend or waive trade commitments, can damage the global economy if abused for protectionist purposes, the World Trade Organisation said on Wednesday. In its annual World Trade Report, the WTO examined the use of "contingency measures", a topic it said was particularly timely given fears of protectionism in the

Solid results from companies including heavy machinery firm Caterpillar and phone maker LG Electronics hinted the global economy is on the mend, but Federal Reserve Chairman Ben Bernanke warned rising unemployment could yet undercut the U.S. recovery. After a brutal slump that began in the second-half of 2008, the world is starting to head down

Asian shares inched up to a 10-month peak on Wednesday, but gains were kept in check as investors booked profits in the belief that the run up in stocks had become overstretched. European stocks were set to open higher, with futures on the Dow Jones Eurostoxx 50 up 0.4 percent. The dollar was stuck near

World exports of merchandise goods grew 15 percent in nominal terms in 2008 to $15.78 trillion, while exports of services rose 11 percent to $3.73 trillion, the World Trade Organisation said on Wednesday. In its latest World Trade Report, the WTO gave no forecast for trade this year, but in June, WTO Director-General Pascal Lamy

Federal Reserve Chairman Ben Bernanke on Tuesday said the outlook for the long-suffering U.S. economy appears to be improving and the U.S. central bank was carefully reviewing ways to withdraw its massive monetary policy stimulus when conditions permit. But Bernanke cautioned that unemployment was likely to remain high into 2011, and he warned that this

U.S. small businesses say they feel slighted by the Obama administration and efforts to shore up the economy, with large companies taking much of the government's attention and stimulus cash. The government decision last week against bailing out small business lender CIT Group raised fears of thousands of companies left without funding for day-to-day operations,

World stocks hit a 2009 high on Tuesday, taking them to levels last seen in October 2008, and emerging market debt spreads with U.S. Treasuries were the narrowest in 10 months. MSCI's all-country world stock index touched 255.35, slipping past a June 11 high to stand at its highest since October 14 last year. Emerging

Futures for the Dow Jones industrial average, the Nasdaq 100 and the S&P 500 share indexes are down 0.1-0.2 percent, pointing to a lower start on Wall Street on Tuesday. At 7.45 a.m. ET, ICSC/Goldman Sachs release chain store sales for the week ended July 18 versus the prior week. In the previous week, sales