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LONDON (Reuters) – Oil climbed above $74 per barrel on Monday in line with a timid recovery across financial markets, but still logged its biggest monthly loss in 18 months after the European economic crisis raised the prospect of reduced fuel demand.
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VENICE, Louisiana (Reuters) – Oil from BP’s out-of-control Gulf of Mexico oil spill could threaten the Mississippi and Alabama coasts this week, U.S. forecasters said on Monday, as public anger surged over the country’s worst environmental disaster.
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FRANKFURT/MADRID (Reuters) – The European Central Bank warned on Monday that euro zone banks face up to 195 billion euros in a “second wave” of potential loan losses over the next 18 months due to the financial crisis, and disclosed it had increased purchases of euro zone government bonds.
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OTTAWA (Reuters) – There will be considerable discussion about the European economy at the G20 meeting of finance officials and central bankers in Busan, South Korea, this weekend, a senior Canadian finance official said on Monday.
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SAO PAULO (Reuters) – Advanced economies face years of anemic growth and the risk of a double-dip recession as their citizens cope with sluggish employment and highly indebted governments, economist Nouriel Roubini said on Monday.
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DETROIT (Reuters) – Retailers are expected to show a sizable increase in sales for the month of May, but erratic trends of consumer spending could grow more pronounced over a seasonally weaker period for shopping.
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LONDON (Reuters) – The euro steadied from recent falls and world stocks were becalmed on Monday with a Chinese warning about risks to global growth and a downgrade of Spain’s credit heightening investor caution in holiday-thinned trade.
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FOSHAN, CHINA/TOKYO (Reuters) – Workers at a strike-bound Honda Motor parts factory in southern China pressed on with a drive to win higher wages on Monday while the carmaker lured back many to partly resume production.
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BERNE (Reuters) – The Swiss government failed to act swiftly to prevent a credit and tax crisis that had endangered banking giant UBS AG in 2008-2009 and could have sunk the Swiss economy, a parliamentary report said on Monday.
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SEOUL (Reuters) – The heads of the Federal Reserve and the European Central Bank on Monday both singled out emerging economies as key to global financial stability.
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