Headline News and Feeds

Reuters - The world economy is recovering moderately but still faces challenges such as the need for medium-term fiscal consolidation, the IMF's First Managing Director, John Lipsky, said on Sunday.

Reuters - Wall Street closed a stellar week on Friday after recent economic data, including a stronger-than-expected labor market report, bolstered optimism that the economy would not fall back into recession.

Reuters - The U.S. government is likely to take a loss on General Motors Co in the first offering of the automaker's stock, six people familiar with preparations for the landmark IPO said.

Reuters - Chinese officials have ordered state companies to meet investment bankers to explore ways to block BHP Billiton's $39 billion bid for Potash Corp, a source with direct knowledge of the matter said.

AP - Summer is rarely a hot sales season for Campbell Soup Co., and this year's sweltering June and July made that even more true, but the company said Friday that cost-cutting and strong drink sales helped its net income climb.

AFP - European Central Bank chief Jean-Claude Trichet called Saturday for Europe to hold a united position on refomin the International Monetary Fund.

AFP - Brazil's Petrobras unveiled one of the world's biggest share offerings Friday, a sale of up to 64 billion dollars in new stock to finance oil exploration aimed at turning Brazil into a leading oil exporter of the 21st century.

AFP - The IMF and the UN labour agency are urging advanced economies not to cut government spending before 2011, warning that a move to tighten fiscal policies could hurt the global recovery.

AP - Investigators looking into what went wrong in the Gulf of Mexico oil spill are a step closer to answers now that a key piece of evidence is secure aboard a ship.

AP - Eager to jumpstart the economy ahead of crucial midterm elections, President Barack Obama said Friday he intends to unveil a new package of proposals, likely including tax cuts and targeted spending, to spark job growth.

AFP - Japan's top minicar maker Suzuki Motor Corp. is to build a new auto assembly plant near the Indian capital New Delhi in a bid to meet growing demand in the country, a newspaper reported on Sunday.