China increased its steelmaking capacity last year by more than twice Britain's annual output, a report said Monday, despite repeated pledges to cut huge excess in the sector. 

China makes more than half the world's steel but a slowdown in its economy and sagging global demand has left the industry with massive excess capacity. 

International Monetary Fund chief Christine Lagarde on Sunday voiced optimism for U.S. economic growth under President Donald Trump but warned it could herald trouble for the rest of the world.

Despite uproar created by the diesel emissions cheating scandal at Volkswagen, Ford and General Motors are poised to offer new or revamped diesel vehicles to their American customers.

It is a bold move, since only 255 diesel cars were sold in the U.S. market in January, compared to the 5,000 to 10,000 a month rate for most of 2015 -- before the VW scandal broke.

Greek Prime Minister Alexis Tsipras on Saturday warned the International Monetary Fund and German Finance Minister Wolfgang Schaeuble to "stop playing with fire" in the handling of his country's debt.

Opening a meeting of his Syriza party, Tsipras said he was confident a solution would be found, a day after talks between Greece and its creditors ended in Brussels with no breakthrough.

Egypt's annual inflation rate hit 29.6 percent in January, official figures showed Saturday, three months after the government floated the pound in line with an International Monetary Fund bailout.

Prices were rising even more quickly than in December, when inflation stood at 24.3 percent, the highest level since January 2011 when the Arab Spring uprising was at its height.

OPEC countries are largely complying with a landmark deal to reduce the global oil glut, the IEA said Friday, as it predicted that oil demand was likely to be more vigorous than anticipated this year. 

In its latest monthly report, the International Energy Agency estimated "a record initial compliance rate of 90 percent" to the landmark deal that came into effect in January.

The dollar extended a rally on Friday after Donald Trump said he would release details of a "phenomenal" tax-cut plan, sending Asian stock markets soaring on hopes it will ramp up the US economy.

Twitter shares plunged early Thursday on poor earnings and Coca-Cola fell on a disappointing outlook, but on the broader market U.S. stocks edged higher.

Twitter dived 11 percent after reporting a fourth-quarter loss of $167 million following only modest gains in the number of users on the social network.

U.S. authorities have demanded information from online payment service PayPal as part of a money laundering investigation, according to a regulatory filing available on Wednesday.

"We have received subpoenas from the U.S. Department of Justice seeking the production of certain information related to our historical anti-money laundering program," Silicon Valley-based PayPal said in an annual report to the U.S. Securities and Exchange Commission.

French oil major Total said Thursday it planned to increase its dividend to shareholders as it expressed confidence earnings could withstand the current volatility in oil prices.