Frankfurt - Falling inflation and a deepening recession is likely to pave the way for the European Central Bank (ECB) to deliver another hefty rate cut Thursday, trimming borrowings costs to an historic low of 1 per cent.
Thursday's widely forecast 50-basis-point reduction in the cost of money in the 16-member eurozone will bring the total rate cuts made by the ECB since October to 325 basis points reflecting its effort to spur economic growth.
London - The world's biggest economic powers are set to agree Thursday to a radical rewrite of the rules for global financial markets to bring them into line with the changes unleashed in recent years by fast-paced globalization.
The Group of 20 (G20) meeting of the world's most advanced and emerging economies in London is expected to sign off on steps aimed at greater global market supervision and closing gaps in the regulatory system in an effort to bolster the global economy, as well as avoiding future crises.
London - US President Barack Obama and Russian President Dmitry Medvedev moved to open a new chapter in relations between their two nations Wednesday by agreeing to draw up a new deal on nuclear disarmament.
At a meeting in London ahead of Thursday's summit of Group of 20 (G20) leading world economies, both presidents pledged to "move further along the path of reducing and limiting strategic offensive arms," in a joint statement issued after their first meeting since Obama's inauguration.
The leaders of the world's big economies launched a summit on the global economic crisis in London Wednesday with a dinner at the residence of the meeting's host, British Prime Minister Gordon Brown, and a reception at Buckingham Palace.
"We are within a few hours, I think, of agreeing on a global plan for economic recovery and reform," said Brown ahead of the summit's formal sessions of the Group of 20 (G20) leading industrialized nations and major emerging economies on Thursday.
London - German Chancellor Angela Merkel and French President Nicolas Sarkozy threw down the gauntlet Wednesday and challenged the Group of 20 (G20) big economic powers to agree to tough new reforms for global financial markets.
"We don't want results that won't have a practical effect," said an unusually combative Merkel at a joint press conference with Sarkozy ahead of Thursday's summit in London of the leading industrialized nations and emerging economies.
London - Under the unwritten rules of summit politics, everyone is a winner and failure is not an option.
Frankfurt - Falling inflation and a deepening recession is likely to pave the way for the European Central Bank (ECB) to deliver another hefty rate cut Thursday, trimming borrowings costs to an historic low of 1 per cent.
London - The world's biggest economic powers are set to agree Thursday to a radical rewrite of the rules for global financial markets to bring them into line with the changes unleashed in recent years by fast-paced globalization.
London - US President Barack Obama and Russian President Dmitry Medvedev moved to open a new chapter in relations between their two nations Wednesday by agreeing to draw up a new deal on nuclear disarmament.
The leaders of the world's big economies launched a summit on the global economic crisis in London Wednesday with a dinner at the residence of the meeting's host, British Prime Minister Gordon Brown, and a reception at Buckingham Palace.
London - German Chancellor Angela Merkel and French President Nicolas Sarkozy threw down the gauntlet Wednesday and challenged the Group of 20 (G20) big economic powers to agree to tough new reforms for global financial markets.
