Business and Finance news

Monthly U.S. exports to Europe grew in December, a hopeful sign after a steep decline the previous month. But some economists remain concerned that the region’s debt crisis will still weigh on the U.S. economy this year.
The Commerce Department said Friday that the overall trade deficit widened to $48.8 billion in December because imports grew […]

In his first 100 days as European Central Bank President, Mario Draghi has taken unprecedented action to tackle the sovereign debt crisis. Greece may push him even further into unknown territory.
Draghi will today face questions on the ECB

Citibank won approval to issue its own credit card in China, making it the first non-Asian bank to enter that market.
The approval from Chinese banking authorities was announced by the bank’s parent, Citigroup (, Fortune 500), Monday. The card is expected to be issued sometime later this year.

"This approval represents a significant milestone in […]

Federal Reserve Bank of Chicago President Charles Evans said the central bank needs a clear low- rate commitment or a third round of purchases of Treasuries and mortgage bonds to further stimulate a still struggling economy.
People outside the Fed have

Belgian Prime Minister Elio Di Rupo reiterated a pledge to make extra budget cuts amid slower economic growth while calling on the European Union to step up efforts to bolster the region

An Italian coast guard official vehemently demanded that the captain go back to his crippled cruise ship to oversee its evacuation, but the captain repeatedly resisted, according to a shocking audiotape made public Tuesday.
Prosecutors have accused Capt. Francesco Schettino of manslaughter, causing a shipwreck and abandoning his vessel before all passengers were evacuated during the […]

U.K. Chancellor of the Exchequer George Osborne said he sees some reason for optimism in Europe, while acknowledging that 2012 is set to be a challenging year.

South Korea and Indonesia will probably keep interest rates unchanged this week as a drop in their currencies risks heightening inflationary pressures even as the faltering global economy undermines growth prospects.
All 14 economists surveyed by Bloomberg News expect the Bank of Korea to keep the benchmark seven-day repurchase rate unchanged at 3.25 percent on […]

A day after taking over the job as the first director of the Consumer Financial Protection Bureau, Richard Cordray defended his role and says he’ll work to win Congress over.
"The appointment is valid, I’m now the director of the bureau," said Cordray, a former Ohio attorney general. "The important thing for us is that […]

Fewer Americans filed claims for unemployment insurance payments last week, showing the labor market is starting 2012 on better footing than a year earlier.
Applications for jobless benefits (INJCJC) decreased 15,000 in the week ended Dec. 31 to 372,000, Labor Department figures showed today. The median estimate of 38 economists in a Bloomberg News survey […]