POLITICS

French winemakers are disappointed that President Nicolas Sarkozy is teetotal and fear his clean-living image gives the wrong impression of France.

A general strike to protest against a rise in fuel prices paralyzed most economic activity in Nigeria for a second day on Thursday, but unions spared vital oil exports.

The nations will review labor and environmental standards in a deal struck earlier in the year.

China on Thursday forgave Iraq's debt owed to the Chinese government and pledged to help rebuild the country's war-shattered economy.

Residents from the seaside resort of Rimini on Italy's Adriatic coast quietly admit that a short drive to nearby microstate San Marino has allowed many to hide cash from the taxman for decades.

U.S. Federal Reserve policy makers want to shift their emphasis away from current benign inflation to uncertainty about future price pressures, and are debating whether to stop calling inflation 'elevated' in their policy statements, The Wall Street Journal reported on Thursday.

The shutdown of a Venezuelan television station critical of President Hugo Chavez may prove a windfall for the owner of a rival network: millions of dollars in advertising revenue.

U.S. businesses painted dramatically different portraits of a new trade deal with South Korea on Wednesday, some touting lucrative sales opportunities and others charging the Bush administration had brought home an abominable deal for U.S. workers.

From depressed investment to bulging foreign exchange reserves, Asia's economies are still deeply marked by the legacy of the financial crisis that engulfed the region a decade ago.

China decreased its holdings of U.S. government debt in April for the first time in 18 months, but this may not be the bearish signal it appears to be for U.S. Treasury bonds.

The pace of U.S. home construction fell 2.1 percent in May to a slightly lower rate than analysts had expected while building permit activity, a signal of future building plans, increased more than anticipated, a government report showed on Tuesday.

French President Nicolas Sarkozy won a solid parliamentary majority for political and economic reforms on Monday but voters soured the right's celebrations by not giving a forecast landslide and rejecting a top minister.

Palestinian President Mahmoud Abbas swore in an emergency government on Sunday in a move that could bolster him in his power struggle with Islamist rivals by unlocking foreign aid in the West Bank.

Central banks should be ready to respond to events that could have systemic risks but should not try to 'prick' asset bubbles with tighter monetary policy, San Francisco Federal Reserve Bank President Janet Yellen said on Friday.

South Korea said on Sunday that the United States had proposed some revisions to a free trade agreement between the two countries, in areas including labor rights, environment and investment.

Japan and the United States are set to allow private defense contractors to directly share and transfer information on defense technology, the Nikkei business daily said on Sunday.

Changes in financial and credit conditions can amplify cyclical swings in the economy and the effect of monetary policy, Federal Reserve Chairman Ben Bernanke said on Friday.

Reports showing a moderate rise in a key U.S. inflation gauge and continued manufacturing gains helped fire investor optimism on Friday, despite signs consumers' spirits were dampened by higher gasoline prices.

Spending on roads, power plants has grown quickly this year, prompting concerns over monetary policy.

Higher energy costs boosted producer prices 0.9 percent in May, but excluding volatile food and energy costs, prices paid at the factory gate were up a more moderate 0.2 percent, the Labor Department reported on Thursday.

Huge increases in U.S. food prices over the past few months are not only putting a strain on consumer's pocketbooks, but they may also make the Federal Reserve's fight to curb inflation more difficult.

The Federal Reserve Board is weighing whether it should ban some mortgage lending practices that fueled the recent housing market boom, Fed governor Randall Kroszner told a panel of lawmakers Wednesday.

U.S. economic activity expanded from mid-April through May, with a number of areas reporting stronger growth, the Federal Reserve said on Wednesday.

Retail sales in May rose at the strongest pace since January 2006, while import prices surged, adding to recent data suggesting the U.S. economy is recovering strongly from a first-quarter slowdown.

Gov't to 'appropriately tighten' monetary policy to keep inflation in check.

Sales by retailers rebounded by a stronger-than-expected 1.4 percent in May as consumers shrugged off higher gasoline prices and increased spending on cars, clothing and building materials, a Commerce Department report showed on Wednesday.

Japan's current account surplus rose more than expected in April thanks to firm exports and gains in investment income, a sign that the world's second-largest economy continues to enjoy a solid recovery.

Venezuelan President Hugo Chavez visited convalescing Cuban leader Fidel Castro, his ideological mentor and ally, for six hours on Tuesday, Cuba's state television said.

A Japanese district court ordered the government to pay 670 million yen ($5.66M) in compensation to victims of fraud by failed mortgage securities firm Daiwa Toshi Kanzai on Wednesday.