Finance news

Shoppers may have boosted retailers with slightly better sales this year. But only when compared to a disastrous 2008. And that’s no guarantee that consumers’ shop ’til you drop mentality is back.
Most retailers won’t report their December sales results until next month, but early forecasts indicate things could be less awful than last year. […]

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LONDON–Britain’s Treasury chief said Sunday that the government must make difficult choices on spending cuts as it seeks to slash the country’s growing deficit.
Chancellor of the Exchequer Alistair Darling is expected to announce tax hikes and public-sector spending cuts in a pre-budget review on Wednesday.
The government has said it wants to halve […]

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Glitzy Dubai may face a debt crisis that has sent a shudder through global markets, but you wouldn’t know it from officials or local media.
World leaders have commented on the crisis — but not those in the United Arab Emirates itself, where authorities have said little as UAE markets fell and the central bank […]

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More than a year after the financial meltdown of 2008, Congress is moving forward on plans to drastically curtail the power of the Federal Reserve.
There is a debate about lawmakers’ motivations, and many details must still be worked out between different proposals.
Currently, the main bills in the House and Senate differ in specifics, […]

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Former Federal Reserve Chairman Alan Greenspan said the central bank risks higher inflation by 2012 if it waits too long to start curtailing its unprecedented monetary stimulus.
“We cannot afford to get behind the curve on reining in this extraordinary amount of liquidity because that will create a major increase in inflation down the […]

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European consumer prices fell more than economists forecast in September as rising unemployment curbed demand and oil prices dropped.
Prices in the 16-nation euro region declined 0.3 percent from a year earlier after falling 0.2 percent in August, the European Union statistics office in Luxembourg said today. The September drop was the fourth straight […]

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U.K. home sellers raised asking prices in September as confidence in the property market improved and the supply of homes dwindled, Rightmove Plc said.
The average cost of a home increased 0.6 percent to 223,996 pounds ($364,000) after falling 2.2 percent in August, the owner of the U.K.’s biggest residential property Web site said […]

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Ukraine’s economy, the most damaged in Europe by the global crisis, may take two years to recover even if the Cabinet succeeds in trimming the deficit, President Viktor Yushchenko said.
The former Soviet republic’s economy shrank an annual 20.3 percent in the first quarter after growing 6.3 percent in the same period just a […]

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The U.S. economic recovery will probably be “lackluster,” hobbled by strains in financial markets and weak consumer spending, Federal Reserve Bank of Atlanta President Dennis Lockhart said.
“Over the medium term, I see a slow recovery with ongoing repair of the financial sector,” Lockhart said today in remarks prepared for a speech in Jacksonville, […]

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Central bankers and regulators adopted “new standards” for the global financial industry in a step to prevent a repeat of the worst economic crisis since the Great Depression.
The panel that oversees the Basel Committee on Banking Supervision, meeting after the Group of 20 nations sought to extend their reach into banks’ pay and […]

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