Morgan Stanley reported a surprising third-quarter loss, suggesting the bank is losing hard-won ground in the battle with Goldman Sachs for Wall Street supremacy. The firm's $91 mln loss, on weak volumes
Britain will cut half a million jobs, slash the welfare state and raise the retirement age as part of an unprecedented cost-cutting drive that will test the strength of both the economy
German Chancellor Angela Merkel was pilloried by coalition allies and the media on Wednesday for an alleged sellout to French President Nicolas Sarkozy, dropping German demands for automatic enforcement of EU budget
Despite posting relatively solid performance since the economic turmoil of 2009, the slow recovery of domestic demand continues to limit the growth prospects of the Russian steel industry, Moody's Investors Service said
The Group of 20 should share a common view on the need to restrain rapid and extreme currency moves, Japanese Deputy Chief Cabinet Secretary Tetsuro Fukuyama said on Wednesday, days ahead of
The world's richest man weighed into the argument between China and the United States over currencies, saying the dispute could be resolved if China raises wages for workers. Rather than drive each
European corporate credit default swap spreads widened on Wednesday on mounting fears that U.S. banks could be whacked by mammoth costs related to mortgage bonds. The mood was also blighted by an
Speculation of a grand bargain by the Group of 20 to rebalance the global economy is swirling ever faster thanks to China's surprise decision to raise interest rates for the first time
Seventy percent of tourists who will visit Cyprus this winter will end up in Paphos, according to the European Tourism Programme for Senior Citizens. During a press conference on Tuesday at the
Canada's privacy watchdog accused Google Inc <GOOG.O> on Tuesday of violating the rights of thousands of Canadians by inappropriately collecting their personal information in building its Street View service. Google must tighten
