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The United States has tumbled further down a global ranking of the world's most competitive economies, landing at fifth place due to its massive deficits and declining public faith in government, a global economic group said Wednesday....

The Portuguese government is planning the country's biggest spending cuts in 50 years, a move it described as "unprecedented".

Measuring the country’s economic development against that of China seems to be a national obsession in India, but the rivalry seems to be largely one-sided.

U.S. President Barack Obama and German Chancellor Angela Merkel discussed the eurozone crisis and financial-market turbulence on Saturday and vowed action to bolster the global economy, the White House said in a statement.

World stocks fell on Thursday as heightened worries about sluggish economic recovery prompted investors to cut exposure to riskier assets, while the Swiss franc fell as the central bank took further steps to halt its steady rise.

Markets are in a "new danger zone" as investors have lost confidence in the economic leadership of several countries, the World Bank president says.

French economic growth ground to a halt in the second quarter, raising pressure on the government to cut spending and abolish tax breaks to convince turbulent financial markets it will deliver on debt reduction targets.

Finance officials from major industrial countries, seeking to calm nervous global markets, pledged Sunday to increase cooperation on attacking economic problems.

More than $2.5 trillion have been wiped off the value of world stocks this week on mounting concerns the global economy is heading toward another recession.

As markets continued to hammer Italy, Prime Minister Silvio Berlusconi rebutted calls for his resignation, saying Italy’s economic fundamentals were strong.