G20 finance ministers in day two of eurozone talks

Finance ministers of the G20 group of nations are meeting in Paris to continue talks to find the solution of eurozone debt crisis.

One solution is whether the IMF Fund should rise in size as part of a broader global response to the current situation.

US resist to increase IMF find to solve this current situation.

On Friday, US President Barack Obama and German Chancellor Angela Merkel spoke by phone to discuss the current crisis.

US officials said Mr Obama had warned of the risks posed to the US economy, and also discussed preparations for a G20 summit in Cannes scheduled for early coming month.

G20 ministers meeting to discuss eurozone debt crisis

To find a solution to the debt crisis in the eurozone, Finance ministers of G20 group of nations arrange meeting in Paris

main discussion is about Greece remains, fears remain that the crisis could spread to other highly indebted eurozone countries such as Spain and Italy, and exposed European banks.

To protect  defaulting on its debt Greece needs next bailout loan in coming month

Spain was hit by a further credit rating down on Thursday.

Standard & Poor's reduced Spain's long term rating by one notch, citing weak growth and high levels of private-sector debt.

It came a week after fellow credit rating agency Fitch also cut Spain's rating. Fitch also downgraded the creditworthiness of UK banks Lloyds and RBS, and also Switzerland's UBS

Eurozone industrial production sees surprise rise

Industrial production in the 17 countries of Europe rose unexpectedly about 1.2% in August.

The EU's statistics office, Eurostat, said it meant industrial production had been risen by 5.3% on an yearlyl basis.

The rise in industrial production might be easy because eurozone is getting release from recession in the third quarter.

Economists had forecast a rise of 2.2% on an yearly basis, and fall of 0.7% on the month. August's increase follows a rise of 1.1% in July.

Developed countries like Germany output fell by 1% month-on-month, but was 7.8% higher than 12 months ago.

Meanwhile the Irish Republic, which is implementing an austerity programme, saw its industrial production rise 4.4% in August and jump by 10.1% year-on-year.

Chinese bank shares rise after Beijing ups stake

Shares big banks in China have moving toward higher when the country's sovereign wealth fund announced it was rising its stake in them.

Central Huijin, the domestic arm of China Investment Corporation, invest funds in four major banks on Monday, said the official Xinhua news agency.

Investment in share is the first since the global financial crisis in 2008.

Analysts said the move was aimed at boosting investor confidence shaken by foreign markets and local policy.

Shares in Agricultural Bank of China increased more than 12% on Hong Kong's main index, while Industrial and Commercial Bank of China increase 7% in early trade.

Bank of England governor fears crisis is 'worst ever'

Bank of England governor Mervyn King has said this financial crisis could be more worst the UK has ever seen.

He passed His comments after the Bank authorised the injection of a further £75bn into the economy through quantitative easing (QE).

"This is the most worst financial crisis we've seen at least since the 1930s, if not ever," governor said

Despite criticizing the use of QE in the past, Chancellor George Osborne said it was now the right move to make.

The Bank has already injected £200bn into the economy, under the previous Labour government.

It has done this by buying assets such as government bonds, in an attempt to boost lending by commercial banks.

Mr Osborne also said he is agreed King's view on the severity of the financial crisis.

Bank of England injects further £75bn into economy

The Bank of England has said bank will inject a further £75bn into the economy through quantitative easing (QE).

The Bank has already invested £200bn into the economy by buying assets such as government bonds, in an attempt to boost lending by commercial banks.

First time it has added to its QE programme since 2009. There have been recent required for it to step in again to aid to the Economy.

At 0.5% interest rates at the record low is held by bank.

On Wednesday, data showed the UK economy grew by 0.1% between April and June, which was less than previously thought.

"In the United Kingdom, the path of output has been affected by a number of temporary factors, but the available indicators suggest that the underlying rate of growth has also moderated,"

"The deterioration in the outlook has made it more likely that inflation will reduce the 2% target in the medium term.

"This injection will shift in the balance of risks, and in order to keep inflation on track to meet the target over the medium term, the committee feel need that more monetary funds required to inject further monetary stimulus into the economy."

Sterling fell by almost two cents after the announcement to $1.5280, its lowest since late July 2010.