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WSJ.com: Economy
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Economy
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Budget Plan Has Familiar Ring
Obama will release a familiar budget plan, calling for $3 trillion in deficit reductions over 10 years, including $1.5 trillion in tax increases to fall mostly on the wealthiest Americans.
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Greece to Cut Public-Sector Jobs
Greece has agreed to lay off 15,000 public-sector workers by the end of 2012, as international pressure mounts on Athens to agree on austerity measures needed to secure major new debt agreements.
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Some Europe Banks Shun ECB Loans
The lenders are fearful of being perceived as bailout recipients that could subject them to potential political or regulatory interference.
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Indonesian Economy Grows at Top Clip Since '90s
Indonesia's economy grew last year at its fastest pace since the 1997-1998 Asian crisis, with the country's vast domestic market helping to shield it from global economic turmoil.
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U.K. Retail Sales Drop
Retail sales in U.K. stores that have been open for at least a year fell in January, and at the second-fastest rate for the first month of the year since records began in 1995, according to the British Retail Consortium's monthly survey.
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German Manufacturing Orders Up
German manufacturing orders rose more than expected in December, driven by a surge in demand from outside the euro zone, in the latest sign that Europe's largest economy may yet avoid recession.
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Euro-Zone Government Debt Falls
The combined debt of the 17 euro-zone governments fell as a percentage of economic output in the third quarter of 2011, although it rose in all three members that have been forced to seek a bailout.
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Italian, French Bonds Rise
Italian and French government bonds reversed earlier declines to trade modestly higher, although the market was cautious amid a deadlock over a new rescue package for cash-strapped Greece.
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IMF Urges Beijing to Ready Bold Moves
The IMF urged China to run a federal deficit of 2% of GDP rather than looking to reduce the country's deficit as planned, given the uncertainty in the global economy.
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