Latest stories
Western Powers Say Libya Risks bankruptcy as Oil Output, Prices Fall

The United States and five of its European allies on Saturday warned that Libya could face bankruptcy if its oil output and prices on international markets continue to fall.

Voicing alarm at the deteriorating security situation in the North African state, the allies said Libya was on the brink of economic implosion because of a collapse in its production and the sliding value of crude.

W140 Full Story
U.S. Economy Creates 1 Million Jobs in 3 Months

U.S. employers kept their doors wide open for new hires in January, capping a three-month surge that saw a stunning one million jobs created across the country.

A better-than-expected January total of 257,000 net new jobs made for the best hiring over three months since 1997, with a broad range of industries expanding payrolls despite the mid-winter economic slowdown.

W140 Full Story
Greece Lawmakers Meet as Default Fears Loom

Greece's hard-left government was set to meet Saturday, after sparking fresh fears of a default by demanding temporary funding from its European creditors before renegotiating its foreign loans.

The meetings comes after Athens put itself back on a collision course with the European Union by announcing it wanted to talk "without pressure and blackmail", days before an extraordinary meeting of eurozone ministers in Brussels.

W140 Full Story
U.S. Ambassador: Greece Must Cooperate with Europe, IMF

Greece must cooperate with Europe and the IMF to draw up a plan of reforms consistent with the country's international obligations, the U.S. ambassador to Athens said Friday.

"The United States believes that it is very important for the Greek government to work cooperatively with its European colleagues, as well as with the IMF," US Ambassador David Pearce said after two days of talks with new Prime Minister Alexis Tsipras and other Greek officials.

W140 Full Story
Analysts: Economic Outlook Gloomy for Nigeria Poll Winner

Whoever wins Nigeria's February 14 election will take charge of an economy battered by falling oil prices, leaving the new administration with fewer options to tackle the twin crises of poverty and unemployment, analysts said. 

President Goodluck Jonathan's government has over the last four years sought to paint a picture of Nigeria's prosperity rising. 

W140 Full Story
Ousted Turkey Bank Chief Takes 'Illegal' Seizure Decision to Court

The ousted chief executive of a Turkish bank linked to the top foe of President Recep Tayyip Erdogan on Friday said the deposed leadership was appealing the "illegal" decision in court.

Turkey's state-run Savings Deposit Insurance Fund (TMSF) late Tuesday seized control of Bank Asya, which is linked to Erdogan's former ally turned enemy, the U.S.-based preacher Fethullah Gulen.

W140 Full Story
Australia Central Bank Cuts Growth, Inflation Forecasts

Australia's central bank Friday cut its forecasts for economic growth and inflation this year and warned unemployment would likely rise as the economy transitions away from a mining investment boom.

The Reserve Bank of Australia (RBA) said gross domestic product would expand 2.25-3.25 percent in 2015, compared with a November estimate of 2.50-3.50 percent.

W140 Full Story
Twitter Revenue Nearly Doubles, User Growth Misses Mark

Twitter on Thursday reported its revenue nearly doubled in the final three months of last year, but user growth fell short of analyst expectations.

Twitter shares rallied more than 10 percent in after-market trades, evidently powered by an optimistic outlook painted by executives who expected user growth to ramp and who confirmed an alliance with Internet search titan Google.

W140 Full Story
Oil Extends Gains, Euro Recovers on ECB Assurances

Oil prices extended their gains on Friday at the end of a volatile week for the commodity, while the euro held its own after the European Central Bank made assurances that Greek banks would have access to much-needed funds.

Investors seemed to shrug off a clash between Greece's new finance minister and his German counterpart over renegotiating Athens' debt, while a strong rally on Wall Street provided some support to regional markets.

W140 Full Story
South Africa's National News Agency SAPA Closing Down

South Africa's national news agency SAPA Thursday announced it will shut down at the end of next month because of financial problems.

"The company will be liquidated and its operations will cease on March 31, 2015," South African Press Association (SAPA) board chairwoman Minette Ferreira said in a statement.

W140 Full Story