China's factory activity shrank for a third successive month in January, a private-sector survey of purchasing managers showed on Wednesday, reinforcing views that Beijing's pro-growth policy stance will stay despite

Chancellor Angela Merkel cemented her political ascendancy in Europe on Monday when 25 out of 27 EU states agreed to a German-inspired pact for stricter budget discipline, even as they

At a discreet farewell dinner in Davos for Swiss National Bank chief Philipp Hildebrand, a handful of guests including central bankers past and present were handed blank sheets of paper.

Chancellor Angela Merkel tried to deflect growing international pressure on Germany to agree an increase in the euro zone's bailout funds on Sunday by saying talks were still continuing.

Amid

A disorderly and potentially devastating Greek debt default is looking much less likely.

Greece and investors who own its bonds have reached a tentative deal to significantly reduce the country's

Fitch downgraded the sovereign credit ratings of Belgium, Cyprus, Italy, Slovenia and Spain on Friday, indicating there was a 1-in-2 chance of further cuts in the next two years.

Asking European leaders to spend more to resolve the debt crisis, G-20 President and Mexican President Felipe Calderon has said the failure to contain the crisis would be devastating for

The European Union and IMF want Greece to push through more budget cuts and implement a series of long-agreed austerity reforms before they agree on a new bailout the country