The first big challenge confronting Italian Prime Minister Paolo Gentiloni is finding a way to rescue the country’s troubled banks. He has proposed borrowing €20 billion to bail them out but will first need approval […]
The dollar is climbing back towards a 14-year high after Janet Yellen flagged strength in the U.S. jobs market, while fallout from attacks in Germany, Turkey and Switzerland are putting pressure on the euro, pushing […]
The Bank of Japan upgraded its economic forecast but decided not to make any changes to its monetary policy. A modest recovery is gaining momentum, and export sales are strengthening, the central bank said. Bloomberg […]
International Monetary Fund directors said they have “full confidence” in the ability of Christine Lagarde to carry out her duties as managing director. The statement of support came after a French court convicted her of […]
Indonesia’s central bank is looking to revive a previously shelved plan to slash three zeroes off the face value of its rupiah notes. Bank Indonesia Governor Agus Martowardojo told President Joko Widodo the proposal would […]
Australia downgraded its growth forecasts overnight and predicted larger than expected budget deficits over the next four years, heightening concerns the country could lose its AAA credit rating. The resources-driven economy has enjoyed more than […]
Mortgage rates are rising after the presidential election and Federal Reserve’s interest-rate hike, signaling a shift to higher borrowing costs for consumers. Mortgage lenders expect refinance volumes to reach half their previously anticipated levels next […]
Germany’s spending on research and development rose 9.5% to €62.4 billion last year, a record. By far the biggest factor driving the trend was investment by the auto industry, which spent €21.7 billion on R&D. […]
Malaysia’s ringgit touched 4.4805 to the dollar, its weakest value since January 1998 during the Asian financial crisis. The fall comes as global investors sell off emerging-market assets, a trend that accelerated in Malaysia after […]
Moody’s Investors Service changed its outlook for Italy’s banking system to negative from stable. Over the next 12 to 18 months, increasing loan-loss provisions will cut profit and decrease banks’ capital, the ratings firm said. […]
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