News from Around the World

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KIM KYUNG-HOON/REUTERS

What Christine Lagarde Brings to the ECB: Flexibility


For seven hours, European finance ministers in a windowless room argued over how to keep a government-debt crisis from infecting eurozone economies, and the meeting threatened to fall into disarray.

Then Christine Lagarde stood up to speak.

BLOOMBERG

White House Knows It Needs the Fed to Make a Dent in the Dollar


Donald Trump needs help from one of his favorite punching bags, the Federal Reserve, if he truly wants to take action to weaken the dollar.

© Bloomberg

Europe faces ‘crying need’ to loosen purse strings, warns OECD


Europe is not well enough prepared for an economic shock and faces a “crying need” to loosen the public purse strings to stimulate growth, the OECD’s chief economist has warned.

Laurence Boone, who joined the Paris-based organisation a year ago, told the FT there was “a big question mark” over Europe’s ability to give fiscal support to the economy, which has been weakened by trade tensions.

Bank of England

New face of the Bank of England's £50 note is revealed


Computer pioneer and codebreaker Alan Turing will feature on the new design of the Bank of England's £50 note.

 PHOTO: KIICHIRO SATO/ASSOCIATED PRESS

Fed Chairman Jerome Powell’s Approach to Interest-Rate Policy Wins Bipartisan Backing


President Trump’s relentless public criticism of the man he picked to run the Federal Reserve, Jerome Powell, isn’t broadly shared by lawmakers who confirmed the central bank leader to his post last year.

Simon Dawson/Bloomberg

EU Officials Are Considering Mark Carney for Top IMF Job


European governments are actively discussing nominating Bank of England Governor Mark Carney as the next head of the International Monetary Fund, according to a person familiar with the matter.

AFP

Christine Lagarde tapped as next president of Europe's central bank


Christine Lagarde has been tapped as the next president of the European Central Bank, an appointment that would make her the first woman to lead the powerful institution.

GETTY IMAGES

What is the G20 summit, and what do world leaders talk about?


World leaders from 19 countries – and the European Union – are meeting in Osaka, Japan, from Friday.

They are the "Group of 20" – G20 for short – but what exactly is the summit about, and why is it important?

What is the G20?

The G20 is an annual meeting of leaders from the countries with the largest and fastest-growing economies. Its members account for 85% of the world's GDP, and two-thirds of its population.

 
CreditCreditTom Brenner/The New York Times

Trump’s Feud With the Fed Is Rooted in Presidential History


President Trump has made heckling the Federal Reserve, and its chair, Jerome H. Powell, something of a sport. He has berated Mr. Powell for raising interest rates and taking steps to end a crisis-era stimulus program, likening the Fed to a powerful golfer who has “no touch” and cannot win.

The past provides some precedent for that frayed relationship.

Ali Mohammadi | Bloomberg | Getty Images

Iran is already in a ‘very dangerous’ economic position as US prepares major new sanctions


President Donald Trump is threatening to impose “major” new sanctions against Iran on Monday, ramping up the pressure on the Islamic Republic at a time when its economy is straining under the weight of financial restrictions.