The Bank of Japan forecast on Tuesday that the world's second largest economy may stop shrinking later this year, and investors signalled that recession in Germany was nearing its low point. Data from the U.S. housing market, where the global financial crisis was born, showed construction of new homes rebounded in May. But analysts said
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The first summit of the world's biggest emerging economies will confront the failures of the global financial system and could discuss ways to reduce the dominance of the U.S. dollar. The leaders of Brazil, Russia, India and China, known as BRIC, are seeking to use their economic clout to get a bigger say in how
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Global stocks climbed off early lows on Tuesday led by European shares following data showing a surge in German investor sentiment, while the dollar stayed under pressure after Russia said the world needs new reserve currencies. Modest gains in U.S. stock futures pointed to a steadier start on Wall Street, a day after its worst
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Oil edged up towards $71 a barrel on Tuesday as the dollar slid after Russia said the world needed new reserve currencies, while stock market declines weighed on sentiment for economic recovery. Speaking at a regional security summit in Siberia, Russian President Dmitry Medvedev called for "creating new reserve currencies" a day after Russia's finance
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The U.S. dollar slid on Tuesday after Russia, before a meeting of the biggest emerging market powers, said the world needs new reserve currencies, while Asian stocks fell, as investors cut their holdings of riskier assets and bought yen. A day after Russian finance minister Alexei Kudrin said the dollar's status as the world's main
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Russia will advocate a cautious approach to changing the system of global reserve currencies when the world's biggest emerging economies hold their first formal summit on Tuesday, the Kremlin's top economic aide said. Brazil, Russia, India and China — which account for 15 percent of the $60.7 trillion global economy — will focus on ways
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Norway's Opera Software on Tuesday unveiled its new free service enabling simple sharing of pictures, files or music from computers, with anyone on the Internet. The direct downloading from PC to PC, which will be part of Opera's Web browser, means files can be viewed with any browser and removes the need for data storage
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U.S. software company Adobe Systems Inc said on Monday it had moved Acrobat.com out of public beta testing and would charge subscribers to use the online version of its popular PDF reader software Acrobat. The maker of Photoshop, Flash and Acrobat software said it would charge subscribers for two new services that add capacity and
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Research In Motion is adding another smartphone to its BlackBerry lineup as it aims to win market share among both executives and mainstream consumers despite tough economic conditions. The new model is known as the BlackBerry Tour and falls somewhere between the BlackBerry Curve, which has proved very popular with consumers, and the BlackBerry Bold,
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U.S. stocks tumbled, marking their worst slide in a month on Monday after regional manufacturing data dented optimism about the economy's health and resource shares fell alongside commodity prices. After a series of signs the economy may be stabilizing, investors are looking for more definitive signals of its improving health. Analysts also said a pullback was
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