Chancellor's economic strategy is 'risky', says Item Club

Chancellor George Osborne's economic plans are 'risky', and could contribute to a slowdown in UK growth, the EY Item Club has warned.

Iran to draw on sovereign fund to withstand oil price slide

(Reuters) - Iran will draw on its sovereign wealth fund to cope with damage to its economy from plunging global oil prices, Iranian Oil Minister Bijan Zanganeh was quoted by the ministry's news agency Shana as saying.

2014 could be better year for US economy: Ben Bernanke

WASHINGTON: Federal Reserve Chairman Ben Bernanke said on Friday that factors which have kept the economy from accelerating appear to be abating, and he predicted stronger growth in 2014.

Hedge Funds Rose 0.9% Last Month on U.S. Budget Agreement

Hedge funds climbed 0.9 percent last month, posting their best gain since September while trailing global equities, as markets rallied in the wake of a U.S. budget agreement and correlation between stocks diminished.

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.

US fiscal deal could spell trouble for Asia's investment winners

HONG KONG: A resolution to the US fiscal cliff crisis, messy and protracted as it was, provided an immediate boost for financial markets but longer term could spell trouble for some Asian assets that are coming off a stellar 2012.

Peering into a Fiscal Cliff Crystal Ball: Stocks Could Dive 15% by February

With the clock ticking on the fiscal-cliff negotiations, investors are increasingly dreading what their portfolios will look like if Washington fails to reach a deal before this $600 billion batch of spending cuts and tax increases wreaks havoc on the markets.

'Fiscal cliff' talks stalled for now, but progress possible

WASHINGTON: US lawmakers have made little progress in the last 10 days toward a compromise to avoid the harsh tax increases and government spending cuts scheduled for Jan. 1, a senior Democratic senator said on Sunday.

Conrad Says an Economic Crisis May Be Only Way to Prod Lawmakers on Debt

An economic catastrophe like the debt crisis in Europe or a Middle East conflict may be the only way to get congressional action this year on a broad reduction of the U.S. deficit, Senate Budget Committee Chairman Kent Conrad said.