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China surpassed Germany to become the world's third-largest economy behind the United States and Japan after Beijing on Wednesday raised its estimate of economic growth in 2007.
China overtakes Germany to become world's third largest economy

The International Monetary Fund may impose budgetary cuts on Ireland's public sector, a senior member of the country's ruling Fianna Fl party admitted today.
Irish government fears IMF intervention

Standard & Poor's has downgraded Greek sovereign debt in a surprise move that will make it even harder for the country to finance its ballooning deficits this year and may trigger further strains on fringes of the eurozone.
Greek crisis deepens as S&P downgrades sovereign debt

Investors withdrew close to a net $150bn from hedge funds last month despite moves by dozens of funds to halt or suspend redemptions. The record December figure, equivalent to about 10% of industry assets, extends the run of outflows to four consecutive months and has increased the total net outflow for 2008 to $200bn.
Investors pull $150bn from hedge funds

Citigroup shares plunged Wednesday, closing down 23% to $4.53, the lowest level since the governments $300bn bail-out of the group in November just $24.7bn, after news that Vikram Pandit, Citis embattled chief executive, plans to split off a third of the group into a non-core unit.
Citi plunges on financial woes

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