A top economist at one of Canada's biggest banks says it's unlikely the U.S. dollar will be ditched as the lead currency used in international trade. Richard Kelly, senior economist with TD Bank Financial Group, says he... [full story]

The 1pc drop in second-quarter GDP makes this the US's worst recession since the Second World War. Government stimulus spending has helped a bit, but US personal savings are still depressed and the federal deficit is huge.... [full story]

Lawmakers are quickly learning that "too big to fail" may be too complex to legislate away. The issue of determining which financial firms are worthy of a government rescue, which first took hold when the credit... [full story]

Stock markets dropped heavily on Monday as crude oil prices fell to the lowest level since mid-March and fears grew that big U.S. banks are imperilled by swelling bad debts. Toronto's S&P/TSX composite index [TSX-I]... [full story]

This is the week Mark Carney redefines Canadian monetary policy. On Thursday, the 44-year-old Bank of Canada Governor is set to explain how he will go about guiding the economy now that he has cut the benchmark lending rate... [full story]

When the economy started to squeeze the Wojtowicz family, they gave up vacation cruises, restaurant meals, new clothes and high-tech toys to become 21st-century homesteaders. Now Patrick Wojtowicz, 36, his wife Melissa,... [full story]

Wells Fargo & Co. stunned the world last week by proclaiming it had just finished its most profitable quarter ever. This will go down as the moment when lots of investors decided it was safe again to place blind faith... [full story]

Switzerland’s largest bank, plans to cut another 7,500 jobs, bringing total staff reductions to almost 20 percent of the workforce, amid mounting losses and customer defections.... [full story]

Shares in General Motors Corp slumped more than 17 percent in Frankfurt on Tuesday amid growing concern the automaker might file for bankruptcy.... [full story]

Net flows into ETF Securities' physically-backed precious metals exchange-traded commodities surged over 400 per cent in quarter one 2009 compared to quarter four 2008 - the most rapid pace of growth on record.... [full story]