In order to raise $5.7 billion, Russian Central Bank has proposed to sale off a portion of its majority venture in OAO Sberbank, which is under the control of the state.

In a statement, released on Monday, Central Bank stated that it will be selling 7.6% of its stake, as the government is looking forward to lessen its role played in the economy of the country.

Americans have affirmed that they are positive about the economy, but the price hike in terms of gas has left them disabled and they need to think before spending.

It has been reported that a new law will be implemented in California on the 15th of September. The law has been designed to earn revenue from the internet merchants affiliated in California. As per the new law, the online shopping sites like Amazon and others will be asked to pay taxes.

Europe and Germany have been in talks over the troubled economy of Germany. During a meeting, Germany raised questions about the European Bank having control over the banking facilities of Germany.

It has been reported that the government of Europe has taken back its decision of providing aid to Spain and Greece. During a meeting, held in Cyprus, the finance ministers said that the decision to aid the financially disturbed nations won’t be taken before October.

Though, the Canadian Auto Workers had had a terrible talk with the Detroit Three on Thursday. Proposing concessions on wages of new automakers, the group expresses the belief that the whole picture could change in the upcoming four days, as per a recent report.

A recent report by the government of the US has unveiled that though, overall sales of corn have not realized a major rise. A fall in price of the corn last week made the nation realize a five-week high in its export sales.