Finance & Economics | WPN World People News

Europe’s economic crisis is expected to dominate the discussions when the Group of Eight nations hold their economic summit near Washington on Friday and Saturday. Food security in Africa will also be high on the agenda.

In a 3.2 billion euros ($4.1 billion) deal, a consortium led by Australian investment bank Macquarie Group has bought the Open Grid Europe gas distribution network from Germany's largest utility E.On.

Secretary-General Ban Ki-moon (left) and General Assembly President Nassir Abdulaziz Al-Nasser co-chair the high-level thematic debate on the world economy.

The Bank of England Wednesday admitted the headline inflation rate would run above target for another 'year or so', reversing the optimistic forecast in February that it would come down to desired level of 2 per cent by yearend.

New French President Francois Hollande and German Chancellor Angela Merkel agreed to work around their differences on how to boost growth in the crisis-ridden Eurozone, and also pledged to put "everything on the table" during a summit of European leaders next week.

British energy major BG Group and its partner Ophir Energy have made their fifth consecutive gas discovery at the Mzia-1 exploration well located in Block 1, offshore southern Tanzania, the companies announced Wednesday.

US Treasury Secretary Timothy Geithner Tuesday said the JPMorgan Chase's $2 billion losses on the derivatives market make a "very powerful case" for the Dodd-Frank financial reform law.

Socialist Francois Hollande was sworn in as president of France on Tuesday in a low-key ceremony amid a debt crisis gripping the Eurozone.

The 17-member eurozone and 27-member European Union avoided falling back into recession in the first quarter of the year, with few countries like Germany, Finland, Lithuania, Latvia, Estonia and Belgium confounding expectations with a positive growth.

Global mining, oil and gas major BHP Billiton Monday justified the company's $20 billion foray into US shale gas stating that shale liquids developments are now among the most attractive projects in the world.