Brazil's real defence falters as Fed leaves emerging markets to their fate

Brazil's emergency intervention to shore up the real has already begun to unravel, prompting fears of fresh capital flight unless the government takes more radical action.

Saudis offer Russia secret oil deal if it drops Syria

Saudi Arabia has secretly offered Russia a sweeping deal to control the global oil market and safeguard Russia’s gas contracts, if the Kremlin backs away from the Assad regime in Syria.

Estonia becomes self-sufficient on shale gas boom

The Baltic tiger of Estonia is the world’s first country to meet all its power needs from shale, with enough left over for neighbours and fuel exports for the shipping industry.

Emerging market rout threatens wider global economy

The $9 trillion (£5.8 trillion) accumulation of foreign bonds by the rising powers of Asia, Latin America and the emerging world risks going into reverse as one country after another is forced to liquidate holdings to shore up its currency, threatening to inflict a credit shock on the global economy.

Poland's shale drive will transform Europe, if it does not drop the ball

The US Energy Department thinks Poland has enough shale gas to power the country for 300 years.

Greece becoming new Kosovo as youth jobless hits 65pc

Greek youth unemployment has soared to a record 64.9pc as the country’s downward spiral continues almost unchecked.

IMF crosses swords with Germany over crisis handling

The International Monetary Fund has exhorted Germany to stop dragging its feet on eurozone crisis measures, refuting claims that austerity is working and that Europe is on the road to recovery.

Investors euphoric as US margin debt reaches 'danger' levels

Fund managers are around the world are gripped by euphoria, convinced that America is in full recovery and Europe has overcome its debt crisis.