World stocks hit a 12-day low on Monday, depressed by recent weak U.S. economic data and failing to find support from the G20 summit, while the yen attracted fresh flows to hit an eight-month high against the dollar. Weaker-than-expected U.S. housing sales and durable goods orders on Friday drove U.S. stocks lower, and world and

The mobile music landscape is very much a study in good news, bad news. The bad news is that mobile music has failed to live up to the expectations that the early success of ringtones had inspired. Combined ringtone and ringback tone sales have fallen almost 23 percent so far this year, according to Nielsen

European shares were little changed on Monday after two sessions of losses, with weaker miners offsetting positive E.ON and RWE shares, which rose after German election results. At 0714 GMT, the FTSEurofirst 300 index of top European shares was largely unchanged at 983.79 points after falling 0.4 percent in the previous session. The index is

The fundamental credit outlook for the Saudi banking system is stable, reflecting the sector's resilience and its ability so far to absorb the adverse effects of the global financial crisis and deteriorating macroeconomic conditions, Moody's Investors Service said in its new Banking System Outlook on the kingdom. Moody's believes that the banking sector will benefit

Australia's government this week will reveal an improvement of up to A$10 billion ($8.67 billion) in the past year's budget, a report said on Monday. Treasurer Wayne Swan would release the 2008-09 budget outcome by Wednesday, the Australian newspaper said, while a mid-year review of 2009-10 budget numbers would come in November, along with a

China marks 60 years of Communist rule on Thursday, with the country enjoying unprecedented global economic and geopolitical influence but still facing several challenges. Following is a summary of key risks and issues to watch: * GOVERNMENT STABILITY China's government has so far maintained widespread popular support without major political change. Predictions that the global

German Chancellor Angela Merkel faces tough negotiations to bridge policy differences with the business-friendly Free Democrats (FDP) after an election which gave her a new term as head of a centre-right government. After barely squeezing into office four years ago and being forced into a ruling partnership with her main rivals, the Social Democrats (SPD),

The yen surged to an eight-month high against the dollar on Monday as Japanese officials waved off any plans to stem the currency's rise, driving the Nikkei down more than 2 percent and sparking a broad retreat in risky assets. The yen's jump against the dollar has it poised to make a run at the