AFP World Economic News Summary

The top world economic stories on Tuesday:


LONDON: The Group of Seven top industrialised nations said that "excessive volatility" in exchange markets undermines stability, in a statement by current G7 president Britain.


DUBLIN: Irish no-frills airline Ryanair said that the European Commission intends to block its takeover bid for rival carrier Aer Lingus on grounds of unfair competition and that it would appeal against the decision.


PARIS: French President Francois Hollande said France's growth forecast for 2013 could be reviewed in coming days as the country's accounting court warned government targets for the year had "little chance" of being achieved.


NEW DELHI: India's industrial output slipped by a surprise 0.6 percent in December from a year earlier, data showed, dampening hopes that Asia's third-largest economy could be on the upswing.


NEW YORK: American Airlines and US Airways are close to striking a merger deal that would create the largest airline in the United States in the latest bout of consolidation in the US aviation industry.


LONDON: Barclays will cut at least 3,700 jobs this year and slash costs, the scandal-hit bank announced as it also revealed that it had plunged into an annual net loss amid the Libor rate-rigging crisis.


MADRID: International Airlines Group said it intends to cut more than 3,800 jobs at Iberia airline, about 700 fewer than it had planned in November.


WARSAW: Orange Poland, controlled by France Telecom, will axe 1,700 of its total 22,414 jobs in Poland this year, a company spokesman said.


ROME: Italian police arrested the chief executive of aerospace and defence giant Finmeccanica for corruption and embezzlement in relation to alleged bribes given to the Indian government, Italian media reported.


WARSAW: Poland will invest 1.1 billion euros ($1.4 billion) as of 2014 in a gas pipeline network linking a new Baltic LNG terminal at Swinoujscie to its Czech, Slovak and Ukrainian neighbours, Poland's state-owned gas transmission monopoly Gaz-System said.