Germany's economic surge powered the European Union to a faster-than-expected growth rate of 1 per cent in the second quarter of this year, the EU's statistical office said Friday.
China overtook Japan as the world's second-largest economy in the second quarter, capping three decades of spectacular growth.
The United States on Tuesday began the difficult process of reforming its housing market, the collapse of which helped cause the worst financial crisis in eight decades.
Only a fleeting fear six years ago, worry of an economy-wide slide in prices has returned, slipping into economists' discussions and shading investment decisions.
General Motors chief executive Ed Whitacre in a surprising announcement Thursday said he will step down on September 1, after little more than eight months in the job.
Inflation in Greece rose in July to
5.5 percent, the highest in 13 years, the Greek Statistical
Authority said Friday.