U.S. Economy

LONDON (AP) — The price of silver was the standout mover in financial markets Monday as it took a hammering for the second trading session in a row, even as stocks remained relatively solid amid hopes over the U.S. economy.

By Herbert Lash NEW YORK (Reuters) - Global equity markets resumed this year's rally on Monday, driven higher by a flurry of merger and acquisition activity, while a recent tumble in the yen against the dollar halted after Japan's economy minister suggested the currency might have weakened enough. Despite major American and European stock indices being up double digits - the U.S. benchmark S&P 500 index is almost 17 percent higher so far this year - investors still see better returns ahead in equities than elsewhere. Deals such as Yahoo's $1. ...

By Frank Jack Daniel and Rajesh Kumar Singh NEW DELHI (Reuters) - India and China will study new ways to ease tensions on their ill-defined border after an army standoff in the Himalayas, Chinese Premier Li Keqiang said on Monday on his first official foreign trip. The number two in the Chinese leadership offered New Delhi a "handshake across the Himalayas" and said the world's most populous nations could become a new engine for the global economy if they could avoid friction on the militarized border. ...

(Reuters) - While the Federal Reserve's accommodative policies have boosted stocks and helped the rich, it is unclear whether they are doing enough for the broader U.S. economy, a top central bank official said on Monday. "We've made rich people richer...," Dallas Fed President Richard Fisher said on CNBC television. "Question is what have we done for working men and women in America?" Fisher, who has long opposed the Fed's bond-buying program and wants to reduce it, added he expects real gross domestic product growth of more than 2.5 percent by year end. ...

By Chijioke Ohuocha LAGOS (Reuters) - Nigeria will increase the amount it borrows overseas to around 40 percent of all debt over the next three to five years, from 12 percent currently, to lower its cost of funds, the head of the debt office said on Monday. DMO Director General, Abraham Nwankwo, said he expected Nigeria's debt to GDP ratio to fall to 17 percent over the same period from 21 percent, as Africa's second-biggest economy switches into cheaper foreign debt. ...

LONDON (AP) — Stock markets remained relatively solid Monday as evidence of a steady economic recovery in the U.S. continued to shore up sentiment.

PORT LOUIS (Reuters) - Mauritius's earnings from tourism dropped 12.4 percent from a year earlier to 12.06 billion rupees in the first three months of this year as the weak economic environment in Europe hurt visitors' spending. Statistics Mauritius cut its forecast for visitor arrivals this year to 990,000 from a previous estimate of 1 million, but said it expected tourism revenue to increase to 46.1 billion rupees, from 44.3 billion in 2012. Visitor numbers grew 1. ...

BANGKOK (AP) — Evidence of a steady economic recovery in the U.S. helped push world stock markets higher Monday.

By Marc Jones LONDON (Reuters) - Rising optimism about global growth pushed world shares to a near five-year high on Monday, while comments from Japan's economy minister that consumers could suffer if the yen falls further lifted it off a 4-1/2 low. Data last week that showed U.S. consumer sentiment at its strongest in nearly six years continued to support equity markets. MSCI's world index is at its highest since June 2008 as top European shares started the week up 0.2 percent. With risk appetite dominating, safe-haven German Bunds fell 45 ticks, while gold, also pressured by signs the U.S. ...

By William James LONDON (Reuters) - The cost of protecting Scottish savers would prove difficult to bear if the country broke away from the rest of the UK, a study by the Treasury said on Monday. The findings come in the latest paper from the British government on how independence would impact the country. On Sunday the Treasury said an independent Scotland would have a huge financial sector relative to its economy, leaving it vulnerable to a Cyprus-style banking crisis. ...

By Stanley White TOKYO (Reuters) - Japan risks missing, yet again, an opportunity to use foreign investment to help fuel sustained economic growth that has eluded it for the last two decades. Prime Minister Shinzo Abe pledged to make Japan "the world's easiest country for companies to do business in" as part of his economic revival plan, which so far has been largely met with approval. The stock market has rallied 45 percent this year and Abe's approval ratings are around 70 percent. ...

By Tetsushi Kajimoto and Izumi Nakagawa TOKYO (Reuters) - The Japanese government upgraded its assessment of the economy on Monday, as emerging signs of an upturn in exports and factory output added to growing evidence that Prime Minister Shinzo Abe's aggressive polices are beginning to reignite growth. The world's third-biggest economy is gradually recovering, according to the government's monthly report released by the Cabinet Office. The upgrade was the first in two months, and an improvement from April when it said the economy was showing signs of recovery but still had some weak spots. ...

BANGALORE (Reuters) - Infosys Ltd, India's No. 2 software services exporter, said on Monday it would challenge a 5.77 billion rupees ($105.3 million) income tax demand raised by Indian authorities earlier this month. The demand relates to certain tax benefits on income from software development done overseas at the clients' location and revenue from special economic zones in India, Infosys said in a statement. It said the latest tax demand disregards a clarification by the government in January. ...