International

• Wednesday, July 11th 2012 - 19:57 UTC

  German proposal: richest citizens should pay more taxes or loan long term to governments

  

  A leading German economic research institute has come up with one way to help countries involved in the euro crisis pay down their sovereign debt: get the wealthiest citizens to pay higher taxes, or force them to loan money to their governments.

• Wednesday, July 11th 2012 - 19:35 UTC

  OPEC lowers world oil demand forecast for next year

  

  The Organization of the Petroleum Exporting Countries, left its forecast for 2012 growth in world oil demand unchanged at 0.9 million barrels a day, saying it expects growth to slow to 0.8 million barrels a day in 2013 due to a continuing global economic slowdown.

• Wednesday, July 11th 2012 - 06:43 UTC

  PM Cameron/Hollande summit: France admits “Europe at different speeds”

  

  President Francois Hollande and British Prime Minister David Cameron tried Tuesday to shake off a rocky start to their relationship despite lingering differences over the Euro zone crisis.

• Wednesday, July 11th 2012 - 03:03 UTC

  Roubini says ‘perfect storm’ is closer; forecasts Finland will leave the Euro before Greece

  

  Nouriel Roubini, or “Mr. Doom” who predicted earlier this year that a “perfect storm” scenario would play out in the global economy, has now said that his prediction is coming true, pointing to slow growth currently hitting the United States, Europe and China.

• Tuesday, July 10th 2012 - 21:17 UTC

  China feeling the strain of global slowdown: US overtakes EU as main export market

  

  China's June trade data stoked anxiety about the strength of domestic demand in the world's second biggest economy as imports rose at only half the pace expected, signalling a need for Beijing to do more to bolster growth.

• Tuesday, July 10th 2012 - 21:07 UTC

  Argentina reports the US and Japan before the WTO for restrictions on beef and lemons

  

  Argentina announced it has formally reported the United States and Japan before the World Trade Organization for the constant barriers set to Argentina’s meat and lemon exports to the afore mentioned countries.

• Tuesday, July 10th 2012 - 21:02 UTC

  The 34-country OECD has 48 million jobless with little hopes until 2014

  

  Unemployment in advanced economies will remain high until at least the end of 2013, with young people and the low-skilled bearing the brunt of what is by far the weakest economic recovery in the past four decades, the OECD said today.

• Tuesday, July 10th 2012 - 05:21 UTC

  Spain applies further budget savings and is granted another year to reach targets

  

  Euro-zone ministers agreed early on Tuesday to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget savings and set the parameters of an aid package for Madrid's ailing banks.

• Monday, July 9th 2012 - 18:13 UTC

  Euro zone to tighten financial regulation following the Libor rigging scandal

  

  Michel Barnier, the European commissioner in charge of financial regulation, is expected to bring forward changes to his market abuse directive and regulation within in the next weeks, the Financial Times said on Monday.

• Monday, July 9th 2012 - 18:04 UTC

  BoE Tucker denies making any suggestions to Barclays on the Libor (in 2008)

  

  The deputy governor of the Bank of England (BoE) has said he did not give Barclays instructions to lower its Libor submissions in 2008. Paul Tucker said no government minister had asked him to “lean on” Barclays over its inter-bank lending rates. But he also told MPs that the BoE and the government feared that Barclays may need a bailout.