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Apsley director Arshad Mahmood with the suit featuring 22-carat gold stitching, a gold waistcoat and diamond-encrusted gold buttons Asis Briefing: €100,000 for suit with gold stitching and diamond buttons

International Monetary Fund managing director Christine Lagarde called on the United States to “hurry up with putting in place a medium-term road map to restore long-run fiscal sustainability”. Photograph: Reuters/Jose Luis Magana Stop using the future as an excuse for inaction on the US economy

Long-term fiscal projections should be seen mainly as especially boring science fiction

Asia Briefing: Urbanisation seen as answer to economic questions

Minister for Enterprise Richard Bruton held bilateral meetings with EU trade ministers throughout yesterday in a bid to secure consensus on EU-US trade talks. Photograph: David Sleator Common EU position on trade talks with US agreed

French cultural sector a key issue in negotiations

High security: razor wire near Lough Erne, in advance of the G8 leaders’ arrival. Photograph: Paul Faith/PA The power of eight

The G8 economic club is losing influence in a fast-changing world. But next week’s summit at Lough Erne, in Co Fermanagh, is still the most powerful gathering ever in Ireland

At the start: Valéry Giscard D’Estaing, Helmut Schmidt and Jimmy Carter at a G7 summit in 1978. Photograph: Keystone France/Gamma/Getty First-world problems: History of the G8

The still-powerful club was founded as a response to the economic crisis of the 1970s

Edward Kleinbard, professor of law at the University of Southern California, addressed the House of Representatives’ Ways and Means Committee. Capitol Hill hears how tax-avoiding giants create ‘stateless income’

Professor calls for tax rate of 25 per cent on worldwide corporate income

Migration across OECD is on the increase

Rate of immigration to Ireland remains above the broader OECD average

Milton Friedman, recipient of the 1976 Nobel Prize for economic science. Fear of inflation is not grounded in facts

A high rate may be a risk in the very long run – but right now the risk is that it may be too low

Managing director of sovereign ratingsfor Standard & Poor’s, which has upgraded its credit outlook for the United States government to ‘stable’ from ’negative’. Photograph: Shannon Stapleton/Reuters US credit rating upgraded to ‘stable’
  • World
  • June 10, 2013, 15:53

Move reduces threat of further downgrade to country’s sovereign rating

Jason Furman is to replace Alan Krueger as chair of the White House’s Council of Economic Advisers, an administration official has said. Photograph: Jason Reed/Reuters Obama to name Furman as chief economist
  • World
  • June 10, 2013, 13:04

‘Bright and able economist’ will replace Alan Krueger as Council of Economic Advisers chairman

Japan’s prime minister Shinzo Abe haspledged to boost incomes by 3 per cent annually and allow tax cuts and reduce red tape in special economic zones. Photograph: Toru Hanai/Reuters Japan’s economy grew quicker than estimated in first quarter
  • World
  • June 10, 2013, 10:19

Account surplus of 750 billion yen is up 100% on last year

America Letter: Poverty levels in Washington are food for thought

In a city of haves and have-nots, 680,000 are at risk of hunger

A protestor in Taksim Square yesterday. Photograph: Uriel Sinai/Getty Images EU criticises Turkey over crackdown on protesters in Taksim Square

Turkish PM Erdogan in audience as Stefan Rule makes remarks

A job seeker talks with a recruiter at a career fair in San Francisco. Fewer Americans than forecast filed first-time claims for unemployment,pointing to moderate job growth despite slowing economic activity. Photograph: David Paul Morris/Bloomberg US jobless claims fall as jobs market improves
  • World
  • June 6, 2013, 13:51

European data shows Greek unemployment at almost 27 per cent

A salesman displays a bottle of French Cotes de Bourg wine to a customer at a wine expo in Beijing, this week. Photograph: Reuters China to target EU wines in investigation
  • World
  • June 5, 2013, 10:11

Move is in response to EU duty on imported solar panels

Bangkok tops Asian domination of most-visited cities

Thai capital edges out London by about 25,000 visitors last year

India’s growth slowest in a decade
  • World
  • May 31, 2013, 08:15

Asia’s third largest economy grew 4.8 per cent in the first quarter

Graduates queue at a recent jobs fair in New York. Photograph: Andrew Burton/Reuters US GDP lower than expected as austerity bites
  • World
  • May 30, 2013, 15:52

Number of new jobless rose last week as fears grow that economy may be entering another ‘soft patch’

OECD expects global growth to accelerate in 2014
  • World
  • May 29, 2013, 10:33

Paris-based organisation says euro area economy will expand by 1.1% next year

Traders work the floor of the New York Stock Exchange. Photograph: John Moore/Getty Images Asian shares halt US-led rally
  • World
  • May 29, 2013, 08:02

MSCI’s broadest index of Asia-Pacific shares outside Japan down 0.3 per cent at 467.33

Latest Economy

US president Barack Obama in Belfast this week. Photograph: Paul Faith/Getty Images Obama shows NI is open for business
Legal services 'a drag on Ireland's competitiveness'
Euro zone inflation accelerated in May, led by the Netherlands, adding to signs the currency bloc’s economy is beginning to emerge from a record-long recession. Photo: Bloomberg Euro zone inflation rises
The seasonally adjusted trade surplus fell in April as exports increased by 1 per cent and imports rose by 4 per cent. Photo: Bloomberg Trade surplus narrows to €3.4 billion in April
Asia Briefing: Urbanisation seen as answer to economic questions
Apsley director Arshad Mahmood with the suit featuring 22-carat gold stitching, a gold waistcoat and diamond-encrusted gold buttons Asis Briefing: €100,000 for suit with gold stitching and diamond buttons