President Barack Obama said that the Asia-Pacific region will play a key role in defining the world's future. The United States is a Pacific power, and we are here to stay, he stated in a speech to the Australian Parliament, sending a clear message to Beijing.
The head of the International Monetary Fund's European department quit less than a year into the job and was replaced by a veteran staffer as the European debt crisis worsens.
Benetton, the Italian family-controlled clothing empire, looks set to raise a few eyebrows, as it unveiled a new worldwide communication “Unhate” campaign that features political and faith leaders like Pope Benedict XVI, German chancellor Angela Merkel, French president Nicolas Sarkozy, Barack Obama and Hugo Chavez kissing.
Mario Monti formed a new technocrat government in Italy Wednesday to tackle a major debt crisis threatening the entire Euro zone and said he hoped it would placate financial markets.
As protestors against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43.000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
Non-European policymakers joined US President Barak Obama in urging greater action from the European Union to deal with the two year old crisis, and came as equity markets fell in response to a sell-off in euro zone bond markets.
The European Central Bank stepped in on Wednesday to stem an accelerating sell-off of Euro zone government bonds, traders said, after the United States called for more decisive action to halt a spreading sovereign debt crisis.
Brazil does not want to see the BRICS group of emerging countries enlarged for the time being but demands the developing world be given a greater say in international bodies, the country's foreign minister said on Wednesday.
The administration of President Barak Obama reaffirmed its decision to “keep reminding” Argentina of the need to comply with its international obligations as well as the importance of upholding an investment climate ‘transparent and fair’ that includes paying creditors, points out a piece from Buenos Aires La Nacion correspondent in Washington.
The European Parliament on Tuesday voted into law a regulation to curb short selling and trading in credit default swaps (CDS), a financial product for insuring against default.