Europe Moves Closer to Expanding Greek Bailout

Stock markets are rallying in expectation that European governments are finally committed to a comprehensive solution to their spreading debt crisis.  Two of the most reluctant countries – Germany and Finland – are expected to vote this week for expanding a key bailout fund.  Time is running out for Greece to receive more bailout funds

IMF: World Economy Entering ‘Dangerous New Phase’

The International Monetary Fund says the U.S. economy is struggling to overcome “sluggish” growth due to an unresolved government debt crisis and weaknesses in the housing market and household finances. In a report released Tuesday, the IMF downgraded its forecast for U.S. economic growth this year to 1.5 percent, one percentage point lower than its

Interest Rate Hikes Take Toll on Indian Economy

A series of interest rate hikes is beginning to take a toll on the Indian economy. The rate increases have slowed economic growth and dampened business confidence. Second quarter economic growth, from April to June, fell to 7.7 percent compared to 8.8 percent during the same period last year. But the numbers have caused little