Global wealth soars to $263 trillion, as inequality swells: study

Global wealth skyrocketed 8.3 percent over the past year to a record $263 trillion, but the distribution of the riches has also become increasingly unequal, a Credit Suisse (NYSE: CS - news) report said Tuesday.

Divisions Grow as a Downturn Rocks Europe

PARIS — Six years after being struck by economic crisis, Europe is facing a fresh downturn, with few new ideas on the table for reigniting growth and deepening political divisions over the austerity policies that many blame for worsening the malaise.

EU sets economic priorities for next five years

BRUSSELS — Leaders of the European Union (EU) said that they have set economic priorities for the next five years, media reported Saturday.

Will G-20 Counter Power of Uncertainty?

By Alexander Mirtchev 

In 2009, G-20 leaders met in Pittsburgh and emerged with a mandate ‘to be the premier forum for international economic cooperation,' endowing the G-20 with a leading economic role on the global stage. It appeared at the time that the leaders of the G-20 had successfully defeated pessimism. However, the rising tide of global economic turmoil and problems ranging from sovereign indebtedness to consumption and saving imbalances have created a ‘perfect storm' that is far from abating.

Obama pledges tough enforcement of Wall Street reforms

May 19 (Reuters) - President Barack Obama on Saturday called on the U.S. Congress to back his efforts for tough new financial industry oversight, saying a $2 billion trading loss at JPMorgan underscored the need for such regulation.

EU Leaders Declare Crisis Turning Point as Focus Starts Shifting to Growth

European leaders declared a turning point in the Greece-fueled debt crisis, shifting their focus away from the budget-cutting spree that has dominated two years of rescue operations.