Finance officials from leading advanced and emerging countries began three days of talks Thursday on reshaping the global economic system to prevent debilitating crises like the one that took the world to the brink of a depression in 2008.
When it comes to overspending, Greece gets the gold medal.
World stock markets rallied hard Thursday as investor sentiment was boosted by a strong set of U.S. housing data and hopes about a pickup in the pace of U.S. jobs creation.
Oil prices rose slightly on Wednesday as investors began to place bets ahead of Friday's monthly jobs report that figures to provide fresh clues about the strength of the rebounding economy and demand for oil.
A look at economic developments and activity in major stock markets around the world Wednesday:
Billionaire investor Warren Buffett on Wednesday defended credit rating agencies that gave overly positive grades to mortgage-related investments before the housing bust. He said the agencies were among many who missed warnings signs of the crisis.
Stocks rebounded Wednesday after a stronger-than-expected increase in pending home sales restored investors' optimism about the economy.
Stock futures tumbled Tuesday after the euro fell to a new four-year low.
World stocks fell Tuesday amid news China's manufacturing slowed in May and as investors fretted Europe's shaky government finances could undermine the global economic recovery.
Fed Chairman Ben Bernanke says boosting interest rates and reeling in all the stimulus pumped out during the global financial crisis will be a delicate task.
Europe has spooked stock investors. Will it spook shoppers, too?
The Socialist government pressed unions and management on Monday to agree this week on labor reforms so Spain can resurrect its moribund economy and reassure markets worried about the country's ability to post growth and pay off debt.
The delicate task ahead for the Federal Reserve and other central banks is deciding when to start boosting interest rates and reeling in all the stimulus pumped out during the global financial crisis, Fed Chairman Ben Bernanke said Sunday.
If it happens gradually enough, the slide in the euro's exchange rate could help exports and provide the boost Europe's troubled economy needs.
It was only nine months ago that Forbes magazine named German Chancellor Angela Merkel the world's most powerful woman for the fourth year in a row.
Stocks closed out their worst month in more than a year by sliding again on more unsettling news about Europe.
Motorists will catch a break at the gas pump as they head out for the Memorial Day weekend.
Turkish fighter jets streak past remote Greek islands, shattering the calm of sleepy villages and alarming residents and beach-going visitors alike. Greek warplanes are scrambled to intercept them, fighting mock air battles over the Aegean Sea.
A look at economic developments and activity in major stock markets around the world Thursday:
Stocks are rocketing higher after reassuring words from China, that it doesn't plan to sell the European debt it holds.
Energy analysts don't expect a temporary shutdown of the trans-Alaska pipeline system due to an oil spill this week to have much effect, if any, on crude prices and gas supplies.
The U.S. and Europe broadly agree on the need for reform of the financial system, but global cooperation is needed, Treasury Secretary Timothy Geithner said Thursday. He also said countries are working together to balance cutting back deficits with supporting economic growth.
A drop in the euro set off a late-day slide in stocks Wednesday and sent the Dow Jones industrial average to its first close below 10,000 in nearly four months.
World stock markets rebounded Wednesday following steep losses the previous day, but sentiment remained fragile amid fears Europe's debt crisis could hamper global economic growth.
The Federal Reserve and other central banks must protect their ability to make key economic decisions free from political interference, Fed Chairman Ben Bernanke said Wednesday.