African spending spree faces punishment by markets

KIGALI (Reuters) - African economies are securing new funds through resource finds or dollar bonds but many governments face questions over how they use the money and risk being punished by international capital markets.

EU to move spotlight from austerity to reforms on Wednesday

(Reuters) - The European Commission will further shift the EU's policy focus from austerity to structural reforms to revive growth when it presents economic recommendations for each member state on Wednesday, officials said.

Spending cut showdown threatens Barack Obama's second-term agenda

WASHINGTON: Just hours after across-the-board spending cuts officially took effect, President Barack Obama pressed Congress on Saturday to work with him on a compromise to halt a fiscal crisis that threatens the economy and his broader domestic policy agenda.

Q&A: Why investors are wary of Italy's elections

FRANKFURT, Germany (AP) — Investors are keeping a wary eye on Italy as the country heads to the polls Sunday and Monday to elect a new parliament.

Gold Seen Rallying From Worst Streak in Eight Years: Commodities

Gold traders expect prices to rebound from the longest weekly losing streak in eight years as mounting concern that U.S. lawmakers are doing too little to control the budget deficit spurs demand for a protection of wealth.

Spain to Tighten Fiscal Screws

SINGAPORE—Spain's Finance Minister Luis de Guindos said Friday that his government would need to implement an additional €35 billion ($46.20 billion) of fiscal tightening this year and next to achieve its budget deficit goal.