In dealings with the West, Erdogan holds all the cards


ISTANBUL - President Tayyip Erdogan's tightening grip on power is likely to meet little more than symbolic resistance from the West next year, as Turkey's G20 presidency and the fight against Islamic State trump concerns about a slide towards authoritarianism.

Global insurance rule held hostage to accounting splits

LONDON - The first single global capital rule for cross-border insurers will have to value assets in two ways due to a failure to merge accounting standards and a desire to keep U.S. support.

Business, 17 Dec 2014

EU shines light on dirty money with central registers

LONDON - The European Union has agreed rules to stamp out tax evasion and stop dirty money from criminal gangs or terrorism finance being channelled through anonymous companies.

Business, 17 Dec 2014

Gorbachev calls for U.S.-Russia summit to defrost ties

MOSCOW - Former Soviet leader Mikhail Gorbachev called on Wednesday for a U.S.-Russia summit to be convened to prevent a deep freeze in Moscow's relations with the West over the Ukraine crisis.

World, 10 Dec 2014

Britain's Cameron to ask Turks for more data on foreign fighters

LONDON - Prime Minister David Cameron will use talks in Ankara on Tuesday to ask Turkey to supply Britain with more and swifter information about Britons fighting in Syria and Iraq with Islamic State (IS), his spokesman said.

World, Syria, Iraq, Middle East 09 Dec 2014

Regulators concerned at banks scaling back market making commitments

LONDON - Global financial regulators worry that banks are scaling back costly market making functions and that this could leave investors stranded, as well as squeezing funds to drive economic recovery, a senior official said on Tuesday.

Business, 09 Dec 2014

China and Turkey fall behind in global corruption index

BERLIN - Turkey and China's rating on perceived corruption has fallen steeply, according to Transparency International (TI), and the global watchdog called for closer international cooperation to root out graft and abuses of power.

World, Middle East 03 Dec 2014

Officials hiding ill-gotten gains undermine corruption fight-watchdog - TRFN

LONDON (Thomson Reuters Foundation) - Efforts to end corruption will be undermined as long as corrupt officials are able to hide their ill-gotten gains in other countries, a global watchdog said on Wednesday as it released its annual corruption rankings.

World 03 Dec 2014

China to crack down on tax avoidance by foreign firms - Xinhua

SHANGHAI - China will toughen its stance on tax avoidance by foreign firms to prevent tax payments being directed overseas, the official Xinhua news agency has said, after Beijing levied $140 million (£89 million) in back taxes from U.S. firm Microsoft Corp last week.

Business, 02 Dec 2014

Tough first year raises doubts Australian PM will last full term

SYDNEY - Australian Prime Minister Tony Abbott is nearing the end of his first full year in office hobbled by missteps and a souring economy that have plunged his approval ratings to historic lows, increasing speculation he may not survive to a second term.

World, Australia 01 Dec 2014



Global GDP comparison

A graphical look at the world's top economies by size and per-capita production.  Interactive