A spike in tensions between arch-rivals Saudi Arabia and Iran appeared on Sunday to ruin prospects of the first binding oil output deal in 15 years between Opec and non-Opec nations, and looked set to prompt another fall in the price of crude.

A growing roster of developing states are turning to their compatriots abroad to raise cash by marketing "diaspora bonds", a funding strategy successfully pioneered by India and Israel but sometimes tricky to imitate.

India's Tata Steel and Germany's Thyssenkrupp are in talks about a joint venture among the options being considered for their European steel operations, Germany's Rheinische Post said on Wednesday.

JPMorgan Chase & Co, the biggest US bank by assets, reported a 6.7 percent drop in quarterly profit as costs to cover possible sour loans to troubled shale oil companies rose and revenue from trading and investment banking declined.

India's 2016/17 wheat imports are expected to surge more than five-fold to the highest in a decade, as a severe drought linked to an El Nino weather event and unseasonal rains push domestic output down to the lowest since 2011, a Reuters survey shows.

Public debt has soared in advanced economies to the highest levels since World War II as governments struggle against slow growth and deflation, the International Monetary Fund warned Wednesday.

After winning the backing of President Tayyip Erdogan, Turkey's new central bank governor must now convince investors that an Islamic banker without formal training in economics can tame inflation while resisting political pressure to cut rates.

A labour dispute caused the cancellation of flights to and from Brussels international airport for a second day on Wednesday just after it reopened in the wake of deadly jihadist bombings.

Peabody Energy, the world's largest privately-owned coal miner, has filed for bankruptcy protection in the US after a sharp fall in coal prices left it unable to repay its debts.

China is facing increasing international pressure to tackle a steel supply glut that has flooded global markets and left beleaguered overseas producers at risk of closure.

A British vote to leave the European Union on June 23 would hurt the economy, an overwhelming majority of economists said in a Reuters poll, and could push the Bank of England to cut interest rates for the first time since the financial crisis.

Chinese exports surged in March, the first gain in nine months and the latest positive data out of the world's number two economy, but analysts warned Wednesday's headline figure masked ongoing weakness in overseas demand.

Oil prices slipped on Monday over worries that the result of next Sunday's meeting of producers in Qatar aimed at freezing current output levels would fail to improve the current supply-demand balance.

More than half of Indian jewellers reopened their shops on Monday after keeping them closed for nearly six weeks in protest over the reintroduction of excise duty on gold jewellery.

Jaguar Land Rover (JLR) launched a technology business on Monday which aims to create apps for services such as car-sharing, the latest automaker to explore ways of tapping demand for cheaper and greener ways of making short journeys.

China's economic slowdown will hit growth in developing East Asia and the Pacific from this year until at least 2018, the World Bank said Monday, warning of volatile global markets and urging caution.

Planned changes that President Barack Obama says are aimed at ensuring American companies do not avoid tax by shifting their headquarters overseas could also force foreign companies to adopt more conservative US tax-planning strategies.

CHINA'S consumer inflation was steady at 2.3 percent year-on-year in March, official data showed Monday, a sign of stabilisation for the world's second-largest economy.

China's online censorship system protects national security and does not discriminate against foreign companies, the country's internet regulator said, after the United States labelled the blocking of websites by Beijing a trade barrier.

Growth is seen easing off in major advanced economies, the OECD said on Monday, with the outlook continuing to deteriorate in the United States and Britain while the German economy is losing steam.