When South Korea is faced with a severe dollar shortage in the local swap market, currency swap deals with other central banks have a far stronger effect than using its own foreign reserves, a BIS report found on Monday.
South Korea announced on Sunday long-anticipated currency controls, saying it aimed to curb rapid shifts in capital flows that were linked to short-term foreign debt and posed a risk to the world's ninth-biggest exporter.
Boeing Co workers at a C-17 plant in Long Beach, California, will return to the job on Monday, ending a one-month strike, but Boeing faces another possible work stoppage at a plant in St. Louis.
Treasury Secretary Timothy Geithner indicated U.S. patience on China's currency policy was wearing thin on Thursday as a key lawmaker warned that he would move soon on legislation that would penalize Chinese goods.
U.S. technology companies hope a preliminary World Trade Organization ruling expected on Friday will persuade the European Union to drop tariffs on three products at the center of the dispute.
Introduction It is a pleasure to be here at this important meeting. It comes at a critical time, as we all work to repair a global financial system that has failed our citizens. Given this failure, the G-20's agenda to reshape the global financial system is comprehensive and radical. The coming weeks and months will be pivotal to its success. The time for debate and discussion is drawing to a close. Policymakers now need to decide and to implement. Recent tensions in Europe have underscored this...
New strategic brinkmanship by the Democratic People's Republic of Korea (DPRK); a now-clear determination by the People's Republic of China (PRC) to more aggressively assert its territorial claims in regional waters; the near-collapse of Japanese strategic cohesion during 2010; and the increasing signs of US political caution in North-East Asia, all point to a period of strategic concern for the Republic of China, particularly in its maritime responsibilities.
Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.
Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.
Countries with big deficits must offer clear plans on how they will balance their budgets to maintain investor confidence and avoid problems seen in Europe, top economic policymakers said on Monday.
European finance ministers sought to calm nervous financial markets on Monday by nailing down details of a massive financial safety net for the euro zone and working toward stricter budget discipline rules.
Stock index futures pointed to a lower open on Wall Street on Monday, adding to the previous session's strong sell-off, with futures for the S&P 500 down 0.6 percent, Dow Jones futures down 0.7 percent and Nasdaq 100 futures down 0.5 percent at 0755 GMT.
U.S. stocks could face more pressure this week unless investors get some relief from worries about Europe, jobs and the toll they might take on the economic recovery.
China's currency policies were spared a specific mention in the Group of 20 communique on Saturday, but U.S. Treasury Secretary Timothy Geithner and the IMF kept up pressure for a stronger yuan.
Leading policymakers spoke with unusual frankness on Friday of their fears that the euro zone's financial and banking woes could derail the global economic recovery.
Leading policymakers were unusually candid on Friday in voicing fears that the euro zone's financial and banking woes could derail the global economic recovery.
Growth in the euro zone services sector quickened in May, helped by a the recovery in France, but activity slowed in the big emerging economies and was stable in the United States, surveys showed on Thursday.
Disagreements over how quickly to reduce billowing budget deficits and restore balance to the global economy risk straining high-level Group of 20 talks that started on Thursday.
Iran's central bank will sell 45 billion euros from its reserves to buy dollars and gold ingots, a report on the website of state-owned Press TV said on Wednesday.
Some of the world's richest central banks will not stop investing in the euro, supporting its reserve status, despite the sovereign debt crisis hammering the euro zone's currency, government sources said.
The euro rose on Wednesday after some of the world's biggest central banks said they would not stop investing in the single currency, while world equities and commodity prices fell.
South Korea's largest carmaker, Hyundai Motor Co Ltd, posted a steeper-than-expected 23 percent decline in domestic sales in May as competition stepped up, pulling its shares to a three-week closing low.
