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World Economy International Organizations

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  • LONDON, May 10- With optimism building that the United States is already recovering smartly from another horrible start to the year, focus will shift this week to reports that may show the euro zone is finally shaking off half a decade of torpor. The 19- member currency union has been a millstone around the global economy's neck ever since the financial crisis...

  • ATHENS, May 9- Greece's main debt negotiator called on the European Union and the International Monetary Fund to show their willingness to break an impasse in debt talks, ahead of a crucial meeting of euro zone finance ministers on Monday. Prime Minister Alexis Tsipras' leftist-led government, which came to power promising to end the austerity terms under...

  • BRUSSELS, May 8- The European Union and the United States are close to completing negotiations on a deal protecting personal data shared for law enforcement purposes such as terrorism investigations, three people familiar with the matter said. However, talks have been hampered by the lack of a right for EU citizens not resident in the United States to go to U.S....

  • Italy's Renzi presses for EU-U.S. trade deal Friday, 8 May 2015 | 10:56 AM ET

    FLORENCE, Italy, May 8- Italian Prime Minister Matteo Renzi backed the planned free trade deal between the European Union and the United States, saying on Friday it would be an "own goal" to let the opportunity for an agreement slip. According to some estimates, the proposed Transatlantic Trade and Investment Partnership could unlock $100 billion a year in...

  • Sometimes called financial deepening, deeper markets and better access to financial services can still spur economic growth, especially in emerging markets, but this is not an endless process, according to a new study by the International Monetary Fund. "Our analysis uncovers evidence of' too much finance' in the sense that beyond a certain level of financial...

  • *OPEC will likely stick to market share at June meeting- delegate. NEW YORK, May 7- Oil fell 2 percent on Thursday, wiping out gains from the past two sessions, as euphoria from the first U.S. inventory drawdown in months faded and focus returned to oversupplies in crude and gasoline. Brent futures were down $1.56 at $66.21 a barrel by 11:10 a.m. EDT, losing all they...

  • *OPEC will not cut output alone- Gulf delegate. LONDON, May 7- Brent crude oil retreated below $67 a barrel on Thursday as ample supplies weighed on prices and the impact faded of the first drawdown in U.S. crude inventories since January. Brent crude was down 97 cents a barrel at $66.80 by 1353 GMT.

  • *Indonesia left OPEC in 2008 on becoming net oil importer. JAKARTA, May 7- Indonesia's energy minister said on Thursday he would seek President Joko Widodo's approval for the country to rejoin OPEC, seven years after leaving the oil exporters' group. OPEC termed Indonesia's departure a "suspension" and Ecuador, which rejoined in 2007, set a precedent for a return...

  • *OPEC will not cut output alone- Gulf delegate. LONDON, May 7- Brent crude oil headed up towards 2015 highs above $68 a barrel on Thursday after official data showed the first drawdown in U.S. crude inventories since January, evidence the market there is balancing after months of heavy oversupply. Brent crude was up 50 cents a barrel at $68.27 by 0845 GMT.

  • *OPEC will not cut output alone- Gulf delegate. SINGAPORE, May 7- Oil prices eased on Thursday after hitting 2015 highs in the previous session, as an OPEC delegate indicated the group would stick to a strategy of pursuing market share rather than cutting output and traders took profits after a multi-week rally. Brent crude was trading 13 cents lower at $67.64 per...

  • *Indonesia left OPEC in 2008 after becoming net oil importer. JAKARTA, May 7- Indonesia's energy minister said on Thursday he would ask for President Joko Widodo's approval for the country to rejoin OPEC seven years after leaving the oil exporters' group. It was not immediately possible to confirm with OPEC that it had offered to let Indonesia rejoin the group or...

  • *OPEC will not cut output alone- Gulf delegate. SINGAPORE, May 7- Oil prices fell on Thursday after hitting 2015 highs in the previous session as an OPEC delegate indicated the group would stick to its strategy of pursuing market share rather than cutting output and traders took profit from a multi-week rally. U.S. crude stocks fell 3.9 million barrels last week, the...

  • Oil prices fall after hitting 2015 highs Wednesday, 6 May 2015 | 8:45 PM ET

    *OPEC indicates it will not cut output alone. OPEC comments made overnight also indicate that core Gulf oil producers are not wavering in their strategy to focus on market share rather than cutting output alone, suggesting big policy changes are unlikely at the June meeting unless non- OPEC producers change their stance. As a result, benchmark Brent crude...

  • U.S., EU officials clash over derivatives rules Wednesday, 6 May 2015 | 12:50 PM ET

    LONDON, May 6- U.S. and European Union regulators clashed on Wednesday over how to provide solid financial backing for the world's $630 trillion derivatives market and also avoid duplication of rules that would be costly for banks and other players. But the difficulty in getting agreement between the EU and the United States has held up the process.

  • *OPEC oil cut at June meeting unlikely without non- OPEC. Some OPEC members are trying to bring major non- OPEC producers such as Russia on board in cutting supplies, as the Organization of the Petroleum Exporting Countries is unlikely to curb output alone when it meets on June 5 without the participation of non- OPEC countries, the delegate said.

  • *Azeri, African, North Sea oil languishes unsold. Tens of millions of barrels are struggling to find buyers in Europe with traders of West African, Azeri and North Sea crude blaming poor demand. Benchmark Brent oil futures prices more than halved between June 2014 and January 2015 after OPEC refused to cut output and instead chose to undercut more expensive...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer, in a warning to the banking industry and non-bank lenders. In prepared remarks at the " Finance and Society" conference held at the International Monetary Fund, Yellen outlined the contributions of the...

  • WASHINGTON, May 6- Federal Reserve Chair Janet Yellen on Wednesday said the central bank is prepared to take further action to make the financial system safer. In prepared remarks at the International Monetary Fund, Yellen outlined the contributions of the banking system to society and the economy. But Yellen quickly turned her speech to the distorted system...

  • BRUSSELS, May 6- European Union antitrust regulators opened an investigation into cross-border e-commerce on Wednesday in a move aimed at removing borders to online sales as part of a broad strategy to overhaul the bloc's digital market. European Competition Commissioner Margrethe Vestager had announced her intention in March to open the sector inquiry. 1/...

  • *OPEC set to keep production unchanged at June 5 meeting. *Saudi Arabia keeps prices unchanged for Asian buyers. SINGAPORE, May 6- Oil prices rose more than $1 to fresh 2015 highs on Wednesday, continuing a month-long rally that has been supported by a weaker dollar and a disruption to crude exports from Libya.