WASHINGTON: The US government registered a record budget deficit in February despite rising revenues, setting a record 17th consecutive month in the red, the Treasury said on Wednesday.
The February budget shortfall was 220.909 billion dollars, a 14 percent rise from a year ago and the biggest monthly gap on record.
The reading, however, was slightly better [...]

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The worst ofGreece’s financial crisis is over and other European nations won’t follow in its path, said former European Commission President Romano Prodi.
“For Greece, the problem is completely over,” said Prodi, who was also Italian prime minister, in an interview in Shanghai today. “I don’t see any other case now in Europe. I don’t think there [...]

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The political consensus may be that President Barack Obama’s handling of the economy has been weak. The judgment of money in all its forms has been overwhelmingly positive, and that may be the more lasting appraisal.
One year after U.S stocks hit their post-financial-crisis low on March 9, 2009, the benchmark Standard & Poor’s 500 Index has risen [...]

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WASHINGTON: The US Federal Reserve is expected to hike benchmark interest rates within six months as the economy recovers from one of the most brutal recessions, a poll among economists showed Monday.
When asked what monetary policy posture they would prefer in the next six months, 63 per cent of 203 economists of the National Association [...]

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LONDON: Britain, which emerged from recession in the final quarter of 2009, faces a “high” risk of relapse and below-average growth in the next two years, the British Chamber of Commerce warned on Sunday.
“The UK economic outlook will remain highly uncertain for a considerable time,” the BCC said in the group’s latest economic forecast.
“The recovery [...]

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NEW YORK – Wall Street stocks rallied Thursday as sentiment was lifted by an EU pledge to help Greece stave off a debt crisis and better-than-expected US labour market data.
The Dow Jones Industrial Average overcame a weak start and climbed 105.81 points (1.05 percent) to close at 10,144.19, rebounding from modest losses Wednesday.
The Nasdaq composite [...]

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The biggest Australian jobs boom in five years may make it harder for central bank GovernorGlenn Stevens to extend a pause in recent interest-rate gains.
Investors doubled bets the Reserve Bank of Australia will raise the overnight cash rate target by a quarter percentage point to 4 percent next month after a report yesterday showed employers added [...]

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VIENNA: The OPEC oil producers’ cartel held its forecast for modest growth in world oil demand this year on Wednesday, but warned the slow pace of economic recovery was clouding the outlook.
“The slow pace of the recovery in the world economy in 2010 is putting pressure on oil demand,” the Organization of Petroleum Exporting Countries [...]

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Feb. 11 (Bloomberg) — Australianemployers added the most workers in more than three years in January, sending the currency surging on speculation the central bank will resume its record round of interest-rate increases.
The number of people employed rose 52,700 from December, the fifth straight monthly gain, the statistics bureau said in Sydney today. The median estimate [...]

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SYDNEY: Australia’s treasurer said on Sunday the government would withdraw its bank funding guarantee due to improved conditions, ending a scheme put in place at the height of the global crisis.
Treasurer Wayne Swan said the Council of Financial Regulators had recommended ending the measure, which he said had been vital in stabilising Australia’s banking system [...]

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