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OECD says growth outlook has got much worse

The outlook for economic growth in developed countries has got much worse in the last three months, the OECD said on Thursday and urged central banks to keep rates low and be ready to pursue other forms of easing.

U.S. Tumbles to 5th in Global Competitiveness Ranking

Global Competitiveness Index
The Global Competitiveness Index (GCI) published by the World Economic Forum, which ranks the world's most competitive economies, has pushed the U.S. down the list to a No. 5 spot. Escalating government debts and declining faith of the public in its administration were cited as the critical factors that contributed to the plunge of the country which was No. 1 in 2008 and No. 4 last year.
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Wall Street up 2 percent as Europe concerns ease

Stocks rallied on Wednesday, reversing three days of losses on hopes the European debt crisis might ease after Germany's top court smoothed the way for Berlin's participation in bailout packages.
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Futures rebound after 3-day decline; Yahoo eyed

Stock index futures rose on Wednesday, following a three-day equities decline, on hopes the European debt crisis might ease after Germany's top court smoothed the way for Berlin's participation in bailout packages.
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German court gives MPs bigger say in euro bailouts

Germany's highest court said on Wednesday that parliament must have a bigger say in euro zone rescue packages, in a landmark ruling that may make it more difficult for Europe to respond swiftly in delivering aid to crisis-hit member states.
President of the German Constitutional Court Vosskuhle pronounces judgment on euro bailouts at the German Constitutional Court in Karlsruhe

Top German Court Gives Bundestag More Say in Euro Bailouts

Germany's highest court said on Wednesday that parliament must have a bigger say in euro zone rescue packages, in a landmark ruling that may make it more difficult for Europe to respond swiftly in delivering aid to crisis-hit member states.
Traders work on the floor of the New York Stock Exchange

U.S. Stock Index Futures Rise

Stock index futures pointed to a higher open on Wall Street on Wednesday, with futures for the S&P 500 up 1 percent, Dow Jones futures up 0.79 percent and Nasdaq 100 futures up 0.97 percent at 0900 GMT (5 a.m. ET).
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FDA Recommends Against Bayer and J&J Anti-Clot Drug

The Food and Drug Administration has recommended against an immediate approval for Bayer AG and Johnson & Johnson’s anti-clotting drug, Xarelto, as a treatment to prevent strokes in patients with atrial fibrillation.
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iPhone 5 in Spotlight as Rumors Point to October First Week Release

Apple iPhone 5 is grabbing attention from all corners as the consumer electronics major is prepping for a bigger iPhone market in the second half of the year. The iPhone 5 production rumors and the reported loss of a sensitive prototype have fueled release date rumors.
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U.N. study savages U.S., European economic policy

The pursuit of austerity measures and deficit cuts is pushing the world economy toward disaster in a misguided attempt to please global financial markets, the annual report of the United Nations economic thinktank UNCTAD said on Tuesday.
Galaxy Tab 7.7

Top 5 Features That Make Samsung Galaxy Tab 7.7 a Better Choice Over iPad 2

One of the hottest gadgets that emerged from the IFA technology show in Berlin is the Samsung Galaxy Tab 7.7. The device, which Samsung was forced to pull from the IFA 2011 show following a preliminary injunction issued by a German court, is hugely shaping up to be the strongest rival to Apple iPad 2.

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