There will be considerable discussion about the European economy at the G20 meeting of finance officials and central bankers in Busan, South Korea, this weekend, a senior Canadian finance official said on Monday.
Oil climbed above $74 per barrel on Monday in line with a timid recovery across financial markets, but still logged its biggest monthly loss in 18 months after the European economic crisis raised the prospect of reduced fuel demand.
The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a second wave of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
Oil crept above $74 on Monday in line with a timid recovery across financial markets, but was set for its biggest monthly loss in 18 months after European economic crisis raised the prospect of reduced fuel demand.
Advanced economies face years of anemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday.
The European Central Bank disclosed increased purchases of euro zone government bonds on Monday as Spain assured investors it would reform its rigid labor market even if employers and trade unions cannot agree.
Workers at a strike-bound Honda Motor parts factory in southern China pressed on with a drive to win higher wages on Monday while the carmaker lured back many to partly resume production.
Workers at a strikebound Honda Motor parts factory in southern China pressed on with a drive to win higher wages on Monday even as the Japanese carmaker lured some back to partially resume production.
China warned on Monday that Europe's struggle to contain ballooning debt posed a risk to global economic growth, raising the specter of a double-dip recession.
China's National Development and Reform Commission (NDRC) on Monday slashed gasoline prices by 230 yuan per tonne and diesel prices by 220 yuan per tone. However, NDRC increased onshore domestic gas prices by 24.9 percent to 1,155 yuan ($169.1) per tone per 1,000 cubic metres.
Surge in crude oil storage capacity in emerging markets will help lift global average annual growth rate (AAGR) in oil storage capacity by 4.9% during 2009-15. Emerging markets constitute 26% of the global storage capacity, according to an analysis by Research and Markets.
The euro steadied from recent falls and world stocks were becalmed on Monday with a Chinese warning about risks to global growth and a downgrade of Spain's credit heightening investor caution in holiday-thinned trade.
Chinese Premier Wen Jiabao warned on Monday that global economic growth remained vulnerable to sovereign debt risks and the possibility of a second downturn, but said his own nation's growth remained on track.
The euro steadied on Monday but remained under pressure after Fitch downgraded Spain's credit rating and France said keeping its top credit rating may be a stretch without tough budget cuts.
Chinese inflation will peak this summer, a respected economist said, as a top planning official pinpointed decreased land supply and the rising cost of agricultural labor as driving strong prices of Chinese agricultural commodities.
Brazilian mining company Vale will raise iron ore prices about 35 percent to as much as $145 per metric ton in July as part of a switch to quarterly pricing, a Brazilian newspaper reported on Sunday,
Brazilian mining giant Vale will hike iron ore prices by around 35 percent to as much as $145 per tonne starting in July, a Brazilian newspaper reported on Sunday, without saying where it got the information.
Gold prices have set on fire but the demand for gold coins seem to have emerged stronger than ever with global investors going on the buying spree last year. As per the available statistics, investors bought 228.5 tonnes of gold in the form bullion coins, up by over 195% since 2000, when the investors bought 77.4 tonnes of gold coins.
Asia is one of the more interesting gas markets in the world. Places like Thailand and its southeast Asian neighbors have seen phenomenal demand growth over the last several years. Total has said they're in Thailand for gas. (Part of the reason I believe Thai shale gas may become an interesting play over the coming years.)
France's Renault SA and India's top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.
Honda Motor Co is still trying to resolve a labor dispute at a China parts plant that led to the closure of all four of its car plants in the country and has no timetable for resuming production, a company spokesman said on Friday.
The world's top countries face more wrangling over a global bank tax next week and crunch time over beefing up capital and cutting risks at big banks.
