The German parliament has voted by an overwhelming majority in favour of measures bolster the EURO 440bn eurozone rescue fund, and give it new powers to buy bonds and recapitalise weak banks, in a move that lifted financial markets and boosted the euro.
Procter & Gamble, the world's biggest consumer products group by sales, has thinned the ranks of senior managers by 10-15 per cent and is considering ways to restructure further as investors press it to improve profitability.
Prime minister Manmohan Singh faces a growing political storm over how to measure poverty in India amid fears that new benchmarks proposed by a powerful policymaking body could see many of the country's poor lose their welfare benefits.
Obama offers $3.6 trillion deficit plan, would up taxes
President Barack Obama laid out a $3.6 trillion plan on Monday to cut budget deficits partly by raising taxes on the rich, but Republicans rejected it as a political stunt and made clear the proposal had little chance of becoming law.
Britain is to sue the European Central Bank for setting rules that allegedly handicap the City of London and would force one of the world's largest clearing houses to decamp operations to the euro area.
Britain's banks face some of the world's toughest regulations under reforms outlined on Monday, which require them to insulate their retail lending activities and store up billions in extra capital at a cost of up to 7 billion pounds ($11 billion).