MUMBAI - Standard & Poor's reiterated its negative outlook on India's credit rating, which is one notch above "junk", warning of the need to follow through on reforms and dealing a blow to a government that had recently pitched for an upgrade.
WASHINGTON - Near-term U.S. deficits under President Barack Obama's 2014 budget plan would be higher than those forecast by the Congressional Budget Office this week but $1.1 trillion lower than what it estimates over the coming decade, CBO said on Friday.
WASHINGTON - The outgoing head of the U.S. Internal Revenue Service angered Republican lawmakers on Friday by resisting their demands that he identify who at the tax-collection agency had inappropriately targeted conservative groups for extra scrutiny.
BALTIMORE - President Barack Obama on Friday sought to turn the spotlight from controversies threatening to swamp his agenda back to his top priority - the economy - and announced he will try to cut in half the time it takes to get federal approval for large job-creating projects.
BEIJING - Chinese President Xi Jinping has taken charge of drawing up ambitious reform plans to revitalise the economy, sources close to the government said, shunning policy stimulus for fear it could worsen local government debt and inflate property prices.
NEW YORK - Americans felt better about their economic and financial prospects in early May as consumer sentiment rose to the highest level in nearly six years, an encouraging sign after other recent data had suggested broader U.S. growth is cooling.
BRUSSELS - Saving pocket change may not end the euro zone crisis, but the European Commission hopes that scrapping the smallest coins could help penny-pinching governments cut costs.
NICOSIA - The IMF said on Friday that risks for Cyprus were "unusually high" given its weak banking sector and economy and the island's full adoption of an economic austerity plan was imperative.
MUMBAI - The unexpectedly sharp fall in the wholesale inflation for April has prompted many economists to change their policy rate cut views, according to a Reuters poll on Thursday.
HOUSTON/MILAN - A trio of hawkish regional Federal Reserve officials are calling for the U.S. central bank to stop buying mortgage-backed bonds, citing the recent improvement in the housing market.
LONDON - A broad collapse of company profits in the developing world shows no sign of abating, forcing investors to tilt portfolios towards sectors such as healthcare or consumer goods where margins are more robust.
China president takes charge of sweeping economic reform plans - sources. Full Article
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