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  • *Italy calls for emergency EU meeting this week. PALERMO, Italy April 19- As many as 700 people were feared dead after a fishing boat packed with migrants capsized off the Libyan coast overnight in what officials said may be the Mediterranean's worst disaster as thousands flee poverty and war to Europe. Only last week, around 400 migrants were reported to have died...

  • Tesco says prospect of EU referendum is damaging UK Sunday, 19 Apr 2015 | 11:13 AM ET

    LONDON, April 19- Tesco, the world's third biggest retailer, said big businesses could be driven from Britain by the uncertainty surrounding a referendum on European Union membership, which the governing Conservatives have promised to hold if re-elected. The Conservatives want to renegotiate Britain's role in Europe and then hold a referendum by the end of...

  • WASHINGTON, April 18- The International Monetary Fund's member nations on Saturday warned of risks to the global economy from exchange rate shifts and geopolitical tensions as they took note of "moderate" global growth and "uneven prospects." With the United States poised to hike interest rates, the panel- speaking for the Fund's 188 member nations- said moves...

  • WASHINGTON, April 18- Beijing will accelerate reforms to the country's currency as part of a push for the yuan's inclusion in the International Monetary Fund's currency basket, China's central bank governor Zhou Xiaochuan said on Saturday. Winning approval for the yuan's inclusion in the IMF's currency basket could raise China's standing in the global...

  • WASHINGTON, April 18- The head of the International Monetary Fund said on Saturday that a new IMF support program for Ghana would likely unlock lending from other bilateral institutions. "It clearly will have a catalytic effect," IMF Managing Director Christine Lagarde told a news conference at the conclusion of a meeting of the IMF's steering committee.

  • WASHINGTON, April 18- The International Monetary Fund warned in a communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports. Those meetings conclude on Sunday and have taken place amid growing concerns cash-strapped Greece will fail to reach...

  • WASHINGTON, April 18- China does not want to bend the rules in its favor to include the yuan in the IMF's basket of major reserve currencies, the No. 2 official at the International Monetary Fund said. Beijing tightly controls the yuan's movements and has strong capital controls, but it is pushing for increased use of the currency for trade and investment as part of a...

  • WASHINGTON, April 18- The International Monetary Fund warned in a draft communique on Saturday that while economic growth in developed countries had strengthened, some emerging nations were being hit by weaker commodity prices and exports. With the United States poised to hike interest rates, the IMF member nations said it was essential that moves to "policy...

  • SHANGHAI, April 18- China central bank governor Zhou Xiaochuan said Beijing would accelerate reforms to the country's currency to push for the yuan's inclusion in the International Monetary Fund's currency basket, known as Special Drawing Rights, the official Xinhua news agency reported on Saturday. Zhou made the comments during an interview with Xinhua...

  • The IMF's member countries agreed in 2010 to give more voting power to countries like China and India, double the Fund's resources, and reduce the dominance of Western Europe on its 24- member board. To get around the United States, the IMF's board had proposed one "interim" plan to raise the voting rights of some emerging countries under an "ad hoc" increase without...

  • *Britain's Osborne says Greece casts gloom over meetings. *Turkey's Babacan says Greece is issue for bilateral talks. Greece was not mentioned by name in the communique and Turkish Deputy Prime Minister Ali Babacan, speaking on behalf of the G20, said the issue of Greece did not feature in the formal discussions.

  • U.S. urges Greece to strike deal with creditors Friday, 17 Apr 2015 | 4:12 PM ET

    WASHINGTON, April 17- The Obama administration on Friday urged Greece to move quickly with technical negotiations aimed at reaching agreement on bailout terms with the International Monetary Fund and European Union, saying a failure to strike a deal could hit the global economy. Treasury Secretary Jack Lew said in a statement prepared for delivery at a...

  • WASHINGTON, April 17- Bank of Japan Governor Haruhiko Kuroda said on Friday the dominant view among Group of 20 finance leaders was that recent exchange-rate moves largely reflected economic fundamentals, while Japanese Finance Minister Taro Aso said he had not faced criticism from his G20 counterparts over the weak yen. "I didn't get the impression there was...

  • FRANKFURT, April 17- The European Central Bank has analysed a scenario in which Greece runs out of money and starts paying civil servants with IOUs, creating a virtual second currency within the euro bloc, people with knowledge of the exercise told Reuters. Greece is close to having to repay the International Monetary Fund about 1 billion euros in May and...

  • WASHINGTON, April 17- The Group of 20 leading economies on Friday said risks to the global economy had diminished with improved growth prospects in rich nations, but it warned of challenges from exchange rate volatility and geopolitical tensions to low inflation. "Risks to the global economy are more balanced since we last met," G20 finance ministers and central...

  • WASHINGTON, April 17- Turkish Deputy Prime Minister Ali Babacan said on Friday that the Group of 20 leading economies saw a moderate, but uneven, global recovery, and said officials agreed to proceed cautiously in adjusting monetary policies. "Monetary policy settings should be carefully calibrated and carefully communicated to minimize spillovers," Babacan...

  • G20 to sidestep U.S. on IMF reforms -draft communique Friday, 17 Apr 2015 | 12:39 PM ET

    To get around the United States, the IMF's board had proposed one "interim" plan to raise the voting rights of some emerging countries under an "ad hoc" increase without touching U.S. veto power. But countries like China would only get a small bump in their shares under this option, which requires all changes to allow the United States to keep at least 15 percent of the...

  • *Britain's Osborne says Greece casts gloom over finance meetings. WASHINGTON, April 17- The Group of 20 leading economies struck a hopeful tone on the outlook for global growth on Friday even as officials fretted that Athen's inability to strike a deal with its lenders could upset Europe's tentative recovery. While Greece was not mentioned by name in the...

  • LONDON, April 17- The Group of 20 leading economies is set to back action by regulators to ensure that clearing houses for securities can withstand market shocks. "We will identify and address gaps related to the resilience, recovery and resolution of central counterparties," G20 finance ministers and central bankers said in a draft communique prepared for a...

  • OPEC should consider return to oil quotas-delegate Friday, 17 Apr 2015 | 9:43 AM ET

    *OPEC last set quotas in 2008, not easy to revive them. LONDON, April 17- OPEC should consider re-introducing individual output quotas, shuffled quietly to one side in 2008, to prevent oversupply hitting prices should Iran increase its oil exports following a deal over its nuclear work, an OPEC delegate said. "Iraq is increasing each month and if that is so and if...