European leaders have adopted another package of measures aimed at preventing Greece from defaulting on its huge public debt and stabilizing the common European currency.
European leaders have adopted another package of measures aimed at preventing Greece from defaulting on its huge public debt and stabilizing the common European currency.
World Bank President Robert Zoellick is urging the United States to take the lead in pushing the moribund Doha-round free-trade talks forward. He said open trade is the best way to help the struggling global economy. Zoellick delivered his blunt assessment at a World Trade Organization meeting in Geneva on Monday.
The new head of the International Monetary Fund, Christine Lagarde, has pledged to move forward with reforms to give emerging economies more influence at the lending organization.
French Finance Minister Christine Lagarde is the International Monetary Fund's new managing director. The 24-member IMF Executive Board made the announcement Tuesday, more than a month after Dominique Strauss-Khan resigned after being charged with sexual assault in New York.
The U.S. economy is showing signs of slowing down, adding only 54,000 jobs in May - the smallest increase in eight months. The nation's unemployment rate inched higher last month to 9.1 percent, raising fears the U.S. recovery already may have peaked.
A New York City judge has granted bail to Dominique Strauss-Kahn as the former International Monetary Fund chief awaits arraignment and trial on charges of sexual assault. He is accused of attacking a maid in a New York hotel.
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