(MENAFN - AFP) International Monetary Fund chief Christine Lagarde said Friday the plunge in global stock exchanges this week was due to a market "over-reaction".
"Generally the IMF doesn't comment on short-term market variations (but) we can't help ourselves from thinking we're in the presence of a correction and maybe at this stage an over-reaction," she said.
(MENAFN - AFP) "Juan Middle Class" may be a cartoon, but the problems he faces -- expensive schools, crummy healthcare, ballooning grocery bills -- are all too real for millions of newly middle-class Latin Americans.
The Uruguayan cartoon character speaks to the frustrations of more than 50 million Latin Americans who made a mass exodus from poverty during the region's so-called ...
(MENAFN - AFP) The ratio of bad loans at Spanish banks rose in August to 13.25 percent, the Bank of Spain said Friday, a worrying sign as the ECB put the final touches on its bank assets review, or stress tests.
The volume of bad loans, primarily a legacy of the country's real estate boom that went bust, actually dipped slightly to 184.3 billion euros ($236.2 billion), but ...
(MENAFN - AFP) German automaker Volkswagen will recall more than a million cars in China and the United States due to a defect in the rear axles, a company spokesman said.
The company's US unit informed the National Highway Transport Safety Administration that it would recall more than 400,000 Jetta sedan models and nearly 42,000 Beetle cars manufactured between 2011 and ...
(MENAFN - AFP) European stock markets surged Friday as investors snapped up bargains, ending a roller-coaster week marked by alarm over fading global growth, a reemergence of eurozone tensions and the Ebola virus spreading.
Having already mounted a robust late recovery on Thursday following sharp losses earlier in the session, indices shot higher heading into the weekend.