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.
The re-emergence of Vladimir Putin as Russia's political supremo failed to prevent the country's markets being buffeted by the global financial turmoil on Monday, with the pressure only set to intensify after the sudden dismissal of the country's finance minister and leading fiscal hawk.
The business model of the Big Four accounting firms is under attack from the European Commission, which is pushing for tough rules that would force the firms to abandon their consultancy businesses and share audit work with smaller rivals.
Dmitry Medvedev, Russian president, sacked the country's finance minister on Monday, in the clearest sign yet that a deal between Mr Medvedev and prime minister Vladimir Putin to swap jobs next year is provoking a furious backlash in Moscow political circles.
Time is running out to find a solution to the eurozone crisis and prevent another global recession, finance ministers warned on Friday, as they hinted that discussions were under way to boost the firepower of European rescue funds.
WASHINGTON-The finance ministers and central bankers that gathered here for the International Monetary Fund's annual meeting face an uphill struggle convincing markets they can prevent the world from sliding into a second recession in three years.
Gold prices slumped more than $100 an ounce on Friday, the biggest fall on record in dollar terms, as traders sold to cover losses, while global stocks edged up on expectations the European Central Bank will take new measures to contain the euro zone debt crisis.