CAMP DAVID, Maryland (Reuters) – President Barack Obama, wrapping up the G8 summit he hosted at Camp David, welcomed Europe’s focus on rekindling growth and warned the crisis in the euro zone was dangerous for the world. Obama, whose re-election chances in November depend heavily on the U.S. economy continuing to shake off recession,...
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BERLIN (Reuters) – Germany is willing to consider additional measures to promote growth in Greece but the struggling economy must still carry out the agreed reforms, German Finance Minister Wolfgang Schaeuble said in an interview with Welt am Sonntag weekly. “If the Greeks have an idea of what we could do, in addition, to...
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LONDON (Reuters) – A successful euro zone requires a single government if it is to work properly, Prime Minister David Cameron said in a newspaper interview on Wednesday. “There’s nowhere in the world that has a single currency without having more of a single government,” Cameron told Daily Mail. “Making sense of the euro...
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YANGON (Reuters) – European firms seeking to invest in Myanmar are unlikely to rush into business deals until more concrete reforms are put in place, despite a suspension of economic sanctions by the EU, its foreign policy chief Catherine Ashton said on Saturday. The European Union and other powers have moved in recent weeks...
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STOCKHOLM (Reuters) – Budget cuts by wealthy western countries has ended a 13-year run of rising military spending in the world, despite big increases by China and Russia, a study released on Tuesday said. “The after-effects of the global economic crisis, especially deficit-reduction measures in the USA and Europe, have finally brought the decade-long...
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WASHINGTON (Reuters) – Americans shrugged off high gasoline prices in March and spent more strongly than expected, suggesting economic growth in the first quarter was probably not as weak as many had feared. Retail sales increased 0.8 percent, the Commerce Department said on Monday, after rising 1.0 percent in February. Last month’s gains handily...
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TOKYO (Reuters) – The euro slumped on Monday, hitting a one-month low against the dollar and 1-1/2 year nadir against the British pound as soaring bond yields in Spain rekindled worries about the fragile state of the euro zone economy. Broad risk-averse sentiment in financial markets also hurt commodity currencies such as the Australian...
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WASHINGTON (Reuters) – The International Monetary Fund welcomed China’s move on Saturday to double the size of its trading band against the dollar, and said it would help the country rebalance its economy. “I would like to welcome this important step by the People’s Bank of China to increase the flexibility of their currency,”...
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ABUJA/BOSTON (Reuters) – General Electric Co and the government of Nigeria have signed a memorandum of understanding intended to help Africa’s second-largest economy to build up its power grid. Nigeria aims to develop 10 gigawatts of additional electricity-generating capacity over the next decade, after it privatizes its power sector, which is seen as dilapidated...
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SINGAPORE (Reuters) – Tanzania has tendered for more than 600,000 tonnes of oil products for delivery over May and June on the back of strong economic growth, industry sources said on Wednesday. State-run oil company the Petroleum Importation Coordinator is seeking 416,000 tonnes of 500 parts per million sulphur gasoil, 200,000 tonnes of 93-octane...
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(Reuters) – General Electric Co will keep its focus on boosting its dividend and improving margins as it faces what Chief Executive Jeff Immelt expects to be an extended period of economic instability. “We live in what most business commentators call a volatile world. I would argue that when the environment is continuously unstable,...
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Reuters – China’s Premier Wen Jiabao cut the country’s growth target to 7.5 percent for 2012 in a bid to find leeway for promised economic and welfare reforms while delivering stability ahead of a leadership transition later this year.
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