Dominique Strauss-Kahn, the former French finance minister who will become the new managing director of the International Monetary Fund next month, Sunday expressed confidence that IMF reforms can be achieved within a year.
China's investment in factories, real estate and other urban assets rose 25.7 percent in the first three quarters of this year from the same period last year, a central bank official said Sunday, despite curbs meant to prevent runaway spending.
The International Monetary Fund urged continued vigilance by finance ministers and central bankers to contain financial market turbulence and said it would try to determine what action to take to prevent future crises from erupting and damaging the global economy.
Workers at three more United Auto Workers local unions have rejected a tentative contract agreement between the national union and Chrysler LLC, casting doubt on whether the deal will be ratified.
Despite strong global economic growth in the past decade, the World Bank has a large unfinished agenda in promoting growth and reducing poverty in the developing world, U.S. Treasury Secretary Henry Paulson said Sunday.
Caribbean islands, separated by diverse languages and cultures, are developing a single regional brand to promote the tourism industry that drives most of their economies.
A large pension plan that owns shares of struggling Countrywide Financial Corp. has asked the board of the United States'largest mortgage lender to oust Chairman and CEO Angelo Mozilo.
