U.S. Federal Reserve chairman Ben Bernanke takes center stage Friday facing hopes from around the world that he will shore up faith in the US economy and offer more stimulus to boost business.
Bernanke is to address a gathering of central bankers in Jackson Hole, Wyoming beginning at 1400 GMT on the U.S. economy in what many hope will reprise his speech a year ago, when he signaled the coming of the $600 billion "QE2" quantitative easing and delivered a much-needed shot of adrenalin to markets.
Full StoryGrowth in Eurozone money supply, a key indicator of demand in the economy, edged higher in July, the European Central Bank said on Friday.
The M3 indicator rose 2.0 percent following a gain of 1.9 percent in June.
Full StoryIt's not every day that a U.S. governor accepts an invitation to the launch of a Japanese-built car, but Nissan's all-electric Leaf offers environmental credentials that top any nationalistic concerns.
"Illinois is laying the groundwork for electric vehicles and a more green economy, and our efforts are paying off," Governor Pat Quinn said Thursday, as he thanked Nissan for bringing the Leaf to his state months earlier than originally planned.
Full StoryThe Emmental Show Dairy has cranked out tons of cheese for years. But now it's in trouble — production is down by a third and the company fears it may be forced to cut back to just a few wheels a day, enough to show tourists.
The dramatic slide in sales of Emmental, popularly known as "Swiss cheese" in North America, is caused by the strength of the Swiss franc, a financial phenomenon that is driving down profits in sectors across all of export-driven Switzerland.
Full StoryEuropean stock markets rose Thursday after strong gains in Asia and overnight on Wall Street, on hopes that the U.S. Federal Reserve could soon unveil new economy-boosting plans, dealers said.
In midday trade, London's FTSE 100 index of leading shares added 0.11 percent to 5,211.49 points, Frankfurt's DAX 30 index gained 0.80 percent to 5,726.65 points and in Paris the CAC 40 was up 0.87 percent to 3,166.99 points.
Full StoryChina has an "essential role" to play in efforts to boost the global economy at the next G20 meeting in November, French President Nicolas Sarkozy told his Chinese counterpart in Beijing on Thursday.
Sarkozy made the comments to President Hu Jintao during a brief stopover in China, the world's second largest economy, amid growing concern over the debt crises in the Eurozone and the United States.
Full StoryShares in Samsung jumped on Thursday and other competitors also benefited as Apple chief Steve Jobs stepped down, with analysts seeing a window of opportunity for rivals of the trailblazing U.S. firm.
The cancer-stricken Jobs -- the driving force behind iconic products such as the Mac computer, iPhone and iPad -- said Wednesday he would step down as chief executive and retreat to the back seat as chairman.
Full StoryA U.S. financial regulator warned Wednesday of multiplying scams involving investing in gold stocks as the price of gold has skyrocketed in recent months.
As gold prices sank for a second day from the record $1,913.50 an ounce, the Financial Industry Regulatory Authority said that investors were being caught out by both listed mining companies that overstate their gold reserves and private investment schemes that directly steal their money.
Full StoryVisa credit cards issued in Syria, by Syrian banks or those with branches in the country, have stopped working from Wednesday, bank officials and users told Agence France Presse.
"Clients were sent SMS messages Tuesday evening informing them they could no longer use their Visa cards in Syria, or even abroad if it was issued in Syria," said Wissam Abu Ghazala, director of a branch of Lebanon's Byblos in Damascus.
Full StoryThe head of Italian auto giant Fiat, Sergio Marchionne, said Wednesday that issuing Eurobonds is the only solution to the looming Eurozone debt crisis -- following Italy's lead on supporting the idea.
"I do not believe that there are any other solutions to the problem," he said on the sidelines of a conference in Rimini.
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