Economy News

YOKOHAMA, Japan (Reuters) - Leaders of the world's most powerful economies went home on Sunday after four days of summitry that left them little closer to agreeing how best to rebalance the global economy and stave off fresh crises. Full Story »

YOKOHAMA, Japan (AFP) - Pacific Rim leaders including the US and China pledged Sunday to turn their dreams of a vast free-trade zone into reality, setting aside conflicts that marred the G20 summit in Seoul. Full Story »

YOKOHAMA, Japan (Nov 14) - Russia is aiming to complete the negotiations to enter the World Trade Organization and become a member next year, President Dmitry Medvedev's top aide on economy said on Sunday. Full Story »

NEW YORK (Reuters) - Without a boost from Washington policymakers or data showing budding strength in the economy, Wall Street's rally may be running out of fuel as the S&P; 500 eases off its 2010 high. Full Story »

ATHENS (Reuters) - Greece's prime minister said in an interview that the possibility of extending repayment of its EU/IMF loan was on the table, but an ECB policymaker said any talk of renegotiation could harm the country's credibility. Full Story »

ATHENS (Reuters) - Greece must focus on meeting targets to cut its budget deficit, ECB policymaker Lorenzo Bini Smaghi said in an interview, warning that any renegotiation of the terms of EU/IMF loans would harm its credibility. Full Story »

YOKOHAMA, Japan (AFP) - President Barack Obama defended his economic recovery policies Saturday after top powers rebuffed US plans for binding trade targets and curbs on currency manipulation at the G20 summit. Full Story »

YOKOHAMA, Japan (Reuters) - Corporate executives attending an Asia-Pacific meeting are counting on a recovery in the U.S. economy to boost trade, although say uncertainties over currencies and economic policies remain a threat to business. Full Story »

YOKOHAMA, Japan - Chinese President Hu Jintao said Saturday that his country will keep its markets open and seek more balanced trade, while gradually adjusting the value of its currency. Full Story »

YOKOHAMA, Japan (Reuters) - President Barack Obama said on Saturday he has made "good progress" on his Asia tour of increasing U.S. exports to Asia and renewed his pledge that world leaders must work toward a balanced economic recovery. Full Story »

WASHINGTON - The Postal Service said Friday it lost $8.5 billion last year despite deep cuts of more than 100,000 jobs and other reductions in recent years. The post office had estimated it would lose $6 billion to $7 billion, but a sharp decline in mail took a toll. Increased use of the Internet and the recession, which cut advertising and other business mail, meant less money for the agency. Full Story »

WASHINGTON - Regulators on Friday shut down two banks in Georgia and one in Arizona, bringing to 146 the number of U.S. banks that have succumbed this year under the burden of bad loans and a tepid economy. Full Story »

SEOUL (AFP) - G20 leaders vowed on Friday to avoid currency manipulation and trade protectionism, but bad blood between China and the United States blocked deeper progress in rebalancing the skewed global economy. Full Story »

HAVANA (AFP) - Only 220 tourists got off the cruise ship Gemini in Havana Friday, but for Cuban officials it signaled the end of a three-year slump in a key sector crippled by a US company's duty to comply with Washington's economic embargo. Full Story »

LOS ANGELES - With job-loss fears keeping many on the housing market's sidelines, California's real estate agents' association has devised a scheme that uses unemployment insurance to lure wavering buyers into the fray. Full Story »

WASHINGTON - The world's most important economies are going home to look after themselves. They left their summit without any meaningful agreement, finding it ever harder to cooperate and more likely to erect trade barriers to protect their own interests. Full Story »

SEOUL, South Korea - Leaders of 20 major economies on Friday refused to back a U.S. push to make China boost its currency's value, keeping alive a dispute that raises fears of a global trade war amid criticism that cheap Chinese exports are costing American jobs. Full Story »

NEW YORK - A two-week rally in oil prices stalled Friday on concerns that China would take steps to cool its economic growth. Full Story »