The dollar fell broadly Monday, with the euro climbing above $1.50, after a report from the International Monetary Fund suggested the U.S. currency could fall further.
Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse.
British Prime Minister Gordon Brown told a meeting of G-20 ministers in his home region in Scotland Saturday that the public must be protected from the failure of the banking system in future.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
This week in iReport, we received compelling images and stories from major international natural disasters: a tsunami in the Samoan Islands and flooding in the Philippines from Typhoon Ketsana. Pittsburgh, Pennsylvania, hosted the G-20 summit, and iReporters chronicled the scene as protesters and police clashed in the streets. One iReporter, Chris Morrow, won an award at the San Diego Film Festival. Check out the video here, or get a better idea of the stories below.
As an American of African descent, I swelled with pride when I heard that the Norwegian Nobel Committee selected President Obama to receive the Nobel Peace Prize. The award further validates what the 2008 presidential election demonstrated: The United States is the most mature and fully functioning multi-ethnic democracy in the world.
The attorney for one of two men arrested during last month's G-20 summit for sending Twitter messages to help protesters argues that they were merely passing along public information.
In what appeared to be the most visible demonstration yet of this week's G-20 summit, four people attached to a massive banner dangled from a Pittsburgh bridge Wednesday to protest the global economic meeting.
Leaders of G-20 nations committed Friday to a timeline to establish and enforce new rules aimed at spurring financial firms around the globe to improve capital cushions and avoid taking risk.
Leaders of the G-20 economic summit will announce Friday that the group will become the new permanent council for international economic cooperation, senior U.S. officials told CNN Thursday.
The dollar fell broadly Monday, with the euro climbing above $1.50, after a report from the International Monetary Fund suggested the U.S. currency could fall further.
Key players in the Group of 20 refused to support a plan create an insurance fund to pay for bailouts if governments have to step in again to save giant businesses on the brink of collapse.
British Prime Minister Gordon Brown told a meeting of G-20 ministers in his home region in Scotland Saturday that the public must be protected from the failure of the banking system in future.
World stocks added to the previous week's losses on Monday, hugging one-month lows as investors pulled back from a more than seven month rally and prepared for the eventual withdrawal of stimulative monetary policy.
This week in iReport, we received compelling images and stories from major international natural disasters: a tsunami in the Samoan Islands and flooding in the Philippines from Typhoon Ketsana. Pittsburgh, Pennsylvania, hosted the G-20 summit, and iReporters chronicled the scene as protesters and police clashed in the streets. One iReporter, Chris Morrow, won an award at the San Diego Film Festival. Check out the video here, or get a better idea of the stories below.
As an American of African descent, I swelled with pride when I heard that the Norwegian Nobel Committee selected President Obama to receive the Nobel Peace Prize. The award further validates what the 2008 presidential election demonstrated: The United States is the most mature and fully functioning multi-ethnic democracy in the world.
The attorney for one of two men arrested during last month's G-20 summit for sending Twitter messages to help protesters argues that they were merely passing along public information.
In what appeared to be the most visible demonstration yet of this week's G-20 summit, four people attached to a massive banner dangled from a Pittsburgh bridge Wednesday to protest the global economic meeting.
Leaders of G-20 nations committed Friday to a timeline to establish and enforce new rules aimed at spurring financial firms around the globe to improve capital cushions and avoid taking risk.
Leaders of the G-20 economic summit will announce Friday that the group will become the new permanent council for international economic cooperation, senior U.S. officials told CNN Thursday.
U.S. stocks were set to open lower Friday after a government report showed durable goods orders declined in August.
To Marla Martinko, Wednesday felt like a holiday in downtown Pittsburgh.
For Pittsburgh International Airport, the Group of 20 summit is like the Sunday after Thanksgiving: the busiest flying day of the year, with world leaders instead of holiday travelers.
Pittsburgh conjures up visions of steel mills and gritty sports teams for many. The host city of this week's Group of 20 summit hopes to update that image.
As the leaders of the world's industrial powers gather this week in Pittsburgh, Pennsylvania, their economies are starting to emerge from the shadow of the worst financial downturn since the Great Depression.
To: Interested parties From: John King, CNN chief national correspondent Re: The Monday Memo
Australian Prime Minister Kevin Rudd said the world needs a "new, sustainable growth model for the future" to reduce "massive financial imbalances" between consumer-driven economies in the West and developing economies in the East.
Finance ministers from the G-20 nations meeting in London have reiterated their commitment to coordinated action to tackle the global economic crisis and agreed on the need for tougher rules on banking bonuses.
Finance ministers from the G-20 nations meeting in London have reiterated their commitment to coordinated action to tackle the global economic crisis and agreed on the need for tougher rules on banking bonuses.
Finance ministers from the world's leading economies have gathered in London to discuss the global economic crisis ahead of a full meeting of G-20 leaders later this month.
World leaders on Thursday set out the first steps toward withdrawing emergency support for the global economy even though they warned that the crisis was not over.
A police officer has been interviewed under caution for manslaughter after tests on a man who died during G-20 protests in London, the UK police watchdog said Friday.
A police officer was suspended Thursday as part of the investigation into the death of a man during last week's G20 protests in London.
As Barack Obama headed back from his first diplomatic venture, two distinct views of his performance are emerging in Washington.
Video appearing to show police hitting a man who later died in protests over last week's G-20 summit in London sparked anger Wednesday and calls for an immediate criminal investigation.
International media reaction to the G-20 summit in London ranged from wary to upbeat Friday, as the world digested details of the $1 trillion plan to tackle the economic crisis.
President Obama fired a CEO, threatened to let two automakers file for bankruptcy, made his first appearance at a summit of world leaders, and saw the blueprint for his budget pass some congressional hurdles.
Leaders of the world's largest economies agreed on Thursday to a package worth more than $1 trillion to tackle the global economic crisis.
Stocks rallied Thursday afternoon after regulators changed an accounting rule that critics say exacerbated the financial sector crisis, and by extension, the recession.
World leaders agreed Thursday to tighter regulation of the global financial system and pledged more than $1 trillion to bolster lending by the International Monetary Fund to nations in need.
Bond prices fell Thursday as investors fled to the stock market, which rallied at the start of a meeting of the world's largest economies.
Shares on Wall Street surged higher Thursday, following a global market upswing amid renewed optimism as G-20 leaders in London agreed a deal on lifting the global economy out of crisis.
Scattered demonstrations were taking place around East London as the G-20 summit got under way Thursday, but they were far smaller than the protests seen a day earlier.
Stocks rallied Thursday morning as the G-20 meeting of the world's largest economies got underway and regulators reportedly eased rules that determine how banks value bad debt.
A great age of protest should be dawning. The global mismanagement of the financial system has led to a deep recession. Intellectual paralysis has gripped the authorities and their policy response has been risky.
Leaders attending the G-20 summit in London Thursday said they were confident and hopeful of progress as they sat down to grapple with the global economic crisis.
India's prime minister, in a speech ahead of the G-20 economic summit, called for added funding to developing nations as a way to maintain demand in a troubled global economy.
French President Nicolas Sarkozy is threatening to walk if there's no agreement on new and more stringent international financial regulation. German Chancellor Angela Merkel may throw a fit of her own if other countries keep insisting that the Germans have room for a bigger economic stimulus package. The Russians and Chinese want to get some control over the International Monetary Fund, and if there's one issue on which there is a wide consensus, it's that American corporate greed and negligent financial oversight is to blame for all the mess.
Suits were swapped for jeans and sneakers throughout London's financial district today, as bankers heeded warnings to dress down to avoid the potential wrath of G-20 protestors.
If money is power, China is now in a powerful position to play a critical role at the Group of 20 summit in London.
Celebrity Chef Jamie Oliver will serve a dinner of Scottish organic salmon, Welsh lamb and a traditional Bakewell Tart for G-20 leaders at the prime minister's residence Wednesday.
Barack Obama announced new arms negotiations with Russia's president, discussed North Korea with China's president, talked about the global economy with Britain's prime minister and had tea with Queen Elizabeth II on Wednesday -- a busy day for any leader.
Police and protesters skirmished around the Bank of England on Wednesday as world leaders gathered for the G-20 summit.
British Prime Minister Gordon Brown's wife, Sarah, wore an outfit from designer Britt Lintner to greet President Obama and his wife, Michelle, while Michelle Obama wore J.Crew, according to spokeswomen for both sides.
Can this G-20 summit prove to be anything more than group therapy for a bunch of fingernail-gnawing, troubled individuals?
As President Obama brings a proposed wish list for fixing financial markets and the global economy to the world stage, he's likely to have a tough sell.
Finding a tax haven is easy. Just flip to the back of the Economist. "New Accounts in 8 Minutes" brags one ad. Another promises that no one is "better positioned to deliver solutions that work" on offshore companies. And yet another offers more than 20 years of experience and the "best prices guaranteed."
French President Nicolas Sarkozy insisted Wednesday that new financial regulation is a "non-negotiable" aim of the G-20 Summit in London, as world leaders gathered for the event.
Security at the G-20 summit in London, England, is tight as protesters fill the streets. CNN anchor Kiran Chetry spoke Wednesday with Frances Townsend, who was Homeland Security adviser under the Bush administration, about the security. Townsend now is a national security contributor on CNN.
Forget about the debate over stimulus "coordination" coming out of the March G-20 meeting, or whether some countries, like France and Germany, should do more. The fact is, between China's $586 billion stimulus, Japan's $200 billion, and U.S. government outlays that will soon be the highest share of GDP since World War II, we're already looking at more than $2 trillion of added government spending worldwide in response to this recession. That's an unprecedented global wave, and it means that government will soon be exerting more influence over business than it has in decades.
Stocks turned mixed Wednesday morning, cutting bigger morning losses as investors made a tentative start to the new quarter on a slew of economic reports and more talk about automaker bankruptcy.
President Obama said Wednesday world leaders meeting at the G-20 summit "cannot afford half-measures" as they try to hammer out ways to address the global financial crisis.
Headlines proclaiming that G-20 activists and police are following each others' activities on Twitter, Facebook and other social networking sites may give one the impression that a new age of surveillance and political activism has dawned.
London prepared on Wednesday for what police warned could be "unprecedented" mass protests by anti-capitalist and climate change campaigners ahead of Thursday's G-20 economic summit.
Oil prices ended the session higher on Tuesday, just shy of the $50 a barrel threshold, as a Wall Street rally picked up steam late in the trading day.
Authorities were investigating a suspicious package that was found Tuesday in the vicinity of the Bank of England, just two days before world leaders meet in London at the G-20 Summit.
Leaders at this week's Group of 20 summit must reshape the world's economic system to reflect global values, British Prime Minister Gordon Brown said Tuesday.
Stocks gained Tuesday as investors tiptoed back into equities after a two-session retreat, on the last trading day of a choppy quarter on Wall Street.
This week's London Summit brings together the leaders of the world's 20 largest economic powers, known as the Group of 20, to discuss the global financial crisis and decide new measures to set the world on a more stable economic footing.
This week's London Summit brings together the leaders of the world's 20 largest economic powers, known as the Group of 20, to discuss the global financial crisis and decide new measures to set the world on a more stable economic footing.
Thousands of people have converged in the center of London for the first major protest ahead of next week's G-20 summit.
Five days before world leaders meet in England for the G-20 Summit, Vice President Joe Biden is attending a two-day conference in Chile that includes seven Latin American and European heads of state.
London police said Thursday they are planning one of the largest and most complex operations in their history as the city gears up to host the G-20 summit next week.
Social networking Web sites are set to play a crucial role in protests ahead of next week's G-20 meeting of world leaders in London as demonstration organizers and police use Twitter and Facebook as key sources of real-time information and intelligence.
European leaders have agreed to make $100 billion available to the International Monetary Fund and €50 billion ($68 billion) to eastern European countries, British Prime Minister Gordon Brown said Friday.
The G-20 meeting in London, England, on April 2 will be watched by the entire world with urgency and with a yearning for hope, vision and programmatic clarity.
Bank stocks led a bigger rally Monday morning, as investors looked to extend the recent advance to a fifth straight session.
Financial experts from 20 nations urged more regulation and oversight of fiscal institutions to help prevent another monetary crisis, as they laid the groundwork Saturday for next month's G-20 Summit of world leaders.
British police warned on Monday that officers were preparing for a "summer of rage" as protests mount across Europe against the economic crisis.
The world needs a "global New Deal" to haul it out of the economic crisis it faces, Prime Minister Gordon Brown of the United Kingdom said Sunday.
The dollar ticked lower against major European currencies Monday after the weekend's G-20 economic summit in Washington failed to impress currency investors.
A group of nearly two dozen world leaders on Saturday reached agreement on a wide-ranging set of proposals to better regulate financial markets. Their goal is over the next several months to put rules and early-detection systems in place to head off another financial crisis like the one currently damaging economies worldwide.
World leaders are descending on Washington Friday to talk about what's needed to get the global economy back on track. But few expect quick fixes.
Global stock markets advanced Friday, buoyed by hopes that world leaders meeting in Washington would push for changes that will help right the economy.
The role of the United States as the world's economic leader will be tested this weekend when 20 significant world leaders meet in Washington to address the global financial crisis.
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