International

• Wednesday, June 2nd 2010 - 03:36 UTC

  China’s manufacturing expansion slows prompting world markets’ reaction

  

  China’s manufacturing expanded at a slower pace than estimated in May, prompting stock declines across Asia. The Purchasing Managers’ Index fell to 53.9 from 55.7 in April, the Federation of Logistics and Purchasing said in an e-mailed statement on Tuesday.

• Tuesday, June 1st 2010 - 05:04 UTC

  Roubini warns Brazil about asset-bubble; recommends limiting Real appreciation

  

  Nouriel Roubini, the New York University professor who predicted the global financial crisis before markets peaked, said the Brazilian, Chinese and Indian economies may be overheating and developing asset bubbles.

• Tuesday, June 1st 2010 - 04:49 UTC

  India raises basic rate, drains liquidity and says recovery is “firmly in place”

  

  The Reserve Bank of India (RBI) has raised key interest rates by a quarter of a percentage point in an attempt to curb near double-digit inflation. The rise was the second in a month and was in line with analysts' forecasts.

• Tuesday, June 1st 2010 - 04:46 UTC

  Tories implement civil service “salary transparency”; 171 above PM Cameron

  

  Some 171 civil servants are paid more than Prime Minister David Cameron's £142,500-a-year salary, according to Cabinet Office figures. The salaries of those earning over £150,000 were revealed for the first time in a bid to aid transparency.

• Tuesday, June 1st 2010 - 04:40 UTC

  European confidence in economic outlook down and inflation up

  

  European confidence in the economic outlook unexpectedly worsened in May and inflation accelerated as the Euro region’s debt crisis shook markets.

• Tuesday, June 1st 2010 - 02:40 UTC

  China warns of a double-dip recession because of European sovereign debt

  

  China warned that Europe's struggle to contain soaring debt posed a risk to global economic growth, raising the spectre of a double-dip recession.

• Tuesday, June 1st 2010 - 01:43 UTC

  German president resigns on comments about military actions overseas

  

  German President Horst Koehler unexpectedly resigned due to a storm over comments he made about military action abroad in a move that could cause conservative Chancellor Angela Merkel a headache.

• Monday, May 31st 2010 - 04:20 UTC

  European weakened governments must address this week tough decisions

  

  Budget Minister Francois Baroin indicated on Sunday that France should not take for granted its AAA rating, which allows Paris to borrow relatively cheaply on international markets and finance its big budget deficit.

• Monday, May 31st 2010 - 04:04 UTC

  Experts warn Europe’s ‘austerity zeal’ could dampen anaemic recovery

  

  Experts are warning that European governments rush to cut budget deficits with draconian austerity measures could mean a blow for Europe's tentative economic recovery.

• Saturday, May 29th 2010 - 05:32 UTC

  Economics Nobel Prize Stiglitz favours regulation of risk rating agencies

  

  Economics Nobel Prize Joseph Stiglitz said it was time to end with the “authority” that countries have deposited in risk assessment agencies and which “have not done things correctly” and have been an essential factor in giving “the global crisis a nice boost”.