Greek Plan to Tackle Economy Goes Before Finance Chiefs
(Bloomberg) -- Greece's month-old government is about to find out whether a package of new economic measures sketched in recent days is enough to win more funding from the rest of the euro region to keep the country solvent.
A draft list of commitments was under discussion with the International Monetary Fund, the European Commission and the European Central Bank after Finance Minister Yanis Varoufakis sent it to the institutions and Jeroen Dijsselbloem, president of the euro-area finance ministers group, before the midnight deadline on Monday. The group is scheduled to hold a conference call on Tuesday to assess the measures.
Yellen faces Senate grilling on Fed rate policy, transparency
(Reuters) - Federal Reserve Chair Janet Yellen is expected to face pointed questions this week from U.S. lawmakers aimed at revealing details about the Fed's timing on interest rate hikes, as well as fresh scrutiny about transparency at the central bank.
Yellen will likely give away little in her prepared testimony for the Senate Banking Committee on Tuesday, and the House Financial Services Committee on Wednesday. But her answers to lawmakers' questions will be parsed for insight into the her thinking about issues like persistently weak inflation, stagnant wage growth and whether she still feels the nation's falling unemployment rate disguises lingering ills in the labor market.
Brent falls toward $58 as supply fears linger
(Reuters) - Brent fell toward $58 a barrel on Tuesday, extending the 2-percent loss in the previous session, as oversupply fears lingered, overshadowing any optimism on the outlook for the global economy.
The oil benchmark had traded above $59 in early Asian trade before negative sentiment overtook, dragging prices 7-percent off its near two-month peak reached last Tuesday.
Brent LCOc1 fell 58 cents to $58.32 a barrel by 0704 GMT (2.04 a.m. EST), while U.S. crudeCLc1 was down 60 cents at $48.85.
U.S. crude stocks are expected to have increased by 4 million barrels to a record high in the week ending Feb. 20, a preliminary Reuters survey showed on Monday.
Refinery woes weighed on crude prices.