Fed's Fisher says U.S. "drowning in unemployment"

RICHARDSON, Texas (Reuters) - The United States is "drowning in unemployment," its economy is running at stall speed and inflation is "not a problem," but easier monetary policy is not the answer, one of the Federal Reserve's most hawkish policymakers said on Friday.

Shadow banking looms over China as economy struggles

China's slowing economic growth is putting the spotlight on the quality of loans - both within the country's official banking sector and beyond.

Spain's crisis flares again as AAA club scuppers bank rescue deal

Spain's debt crisis has returned with a vengeance after Germany, Holland and Finland reneged on a crucial summit deal and scuppered hopes of direct eurozone help for Spanish banks.

US presidential elections: Mitt Romney, Barack Obama speeches face off on overseas issues

NEW YORK: The US presidential candidates laid out their visions of America's role in the world on Tuesday with dueling foreign policy speeches shaped by violent protests in the Middle East and their closely fought campaign at home.

IMF hints at more time for Greece to implement hardline austerity

The International Monetary Fund dropped the broadest of hints on Monday night that it would give Greece more time to implement its hardline cuts programme as it warned that Europe posed a "critical risk" to a weakening global economy.

Top China official visits Afghanistan, signs security deal

KABUL (Reuters) - China has signed security and economic agreements with Afghanistan during a rare trip to Kabul by a top Chinese official, in deals seen aimed at bolstering Beijing's influence ahead of a NATO withdrawal of most combat forces by 2014.

Spain in no rush to seek aid, banks need 60 billion euro - Economy Minister

(Reuters) - Spain will not rush to seek external aid to finance its debt, Economy Minister Luis de Guindos said on Saturday, adding that the country's banks would need 60 billion euros to clean up the toxic property assets on their balance sheets.

ECB's Makuch: Room to cut interest rates if needed

(Reuters) - The European Central Bank has room to cut base interest rates below their current record low of 0.75 percent if the economic situation in the crisis-hit euro zone warrants it, Governing Council member Jozef Makuch said on Tuesday.

India central bank in lending boost as rates on hold

India's central bank has lowered the amount of money that banks need to keep in reserve, in a bid to boost lending and spur domestic demand.

Spain shuns further cuts as unrest grows

Spain is digging in its heels against further austerity as protests sweep the country and mounting tensions with Catalan nationalists threaten to split the country.

Large anti-austerity protests in Spain, Portugal

MADRID: Tens of thousands of people from all over the country converged on Spain's capital to hold a large anti-austerity demonstration on Saturday.

Greece may get more time, not more money, indicate IMF, EU

NICOSIA: Greece may get more time to reach financial targets under its 130 billion euro rescue package but probably not more money, its international lenders signalled on Friday, saying a decision had to come by the end of October.

Draghi to Explain ECB Strategy to German Parliament

FRANKFURT—European Central Bank President Mario Draghi offered to appear before Germany's parliament to explain the bank's new bond-buying strategy, his latest attempt to convince skeptical Germans that the ECB's open-ended commitment to purchase bonds of Spain and other struggling euro countries is necessary to help resolve Europe's debt crisis.

Japan buys disputed islands, China sends patrol ships

TOKYO: Japan brushed off stern warnings by China on Tuesday and bought a group of islands that both sides claim in a growing dispute that threatens to deepen strains between Asia's two biggest economies.

Obama Discusses Iran Threat With Netanyahu Amid Tensions

President Barack Obama and Israeli Prime Minister Benjamin Netanyahu discussed Iran’s suspected atomic weapons program amid a rift between the two nations over how to confront the issue.

Turkey's Economy Grows Less Than Expected

ISTANBUL—The Turkish economy slowed to 2.9% expansion on the year in the second quarter, a lower rate than expected, suggesting that the government could fail to meet its 4% economic growth target this year.

IMF tells Europe to deliver on Irish bailout, cuts growth

DUBLIN: The success of Ireland's international bailout hinges on it getting more European support and there being economic recovery externally, the International Monetary Fund (IMF) said on Monday as it cut its growth forecast for Ireland for next year.

China: Inflation jumps as economy slows

ANAHEIM, CALIF. (CNNMoney) -- After four straight months of declines, consumer price inflation has finally edged up in China.

Germany should back growth or leave euro: Soros

VIENNA (Reuters) - Germany should leave the euro zone if it is not prepared to take a more decisive lead in helping the euro zone's weaker nations escape a spiral of increasing indebtedness and economic decline, veteran financier George Soros said on Saturday.

ECB plan pushes euro to two-month high against dollar

The euro has strengthened to a two-month high against the US dollar, as the European Central Bank's bond-buying plans continued to please the markets.

Bank of England sits tight over rates, stimulus

LONDON: The Bank of England on Thursday kept its main interest rate at a record low 0.50 per cent and decided to maintain the amount of special funds used to help stimulate Britain's recession-affected economy.

Eurozone likely in recession as PMIs slump

The eurozone is likely to have slipped back into recession in the current quarter, according to a survey that showed a seventh month of contraction for the bloc's private sector.

Swiss economy shrinks under euro crisis pressure

(Reuters) - The Swiss economy unexpectedly shrank in the second quarter as the euro zone crisis caught up with a country that had seemed relatively immune to its neighbors' woes, providing further justification for the central bank's cap on the strong franc.

Global shares gain on central bank hopes, eyes on ECB

LONDON (Reuters) - European shares crept higher on Monday after weak factory data highlighted the poor health of the global economy, keeping alive talk of fresh stimulus from major central banks.

Years of US fines over Iran loom for foreign banks like Deutsche Bank, Intesa San Paolo

LONDON/FRANKFURT: For years, the United States struggled to get foreign bankers to comply with its effort to throttle Iran's economy - but a couple of billion dollars in fines, not to mention lurid headlines and talk of jail time, has suddenly got their attention.

IMF Deputy MD David Lipton 'optimistic' about Greece

WASHINGTON: IMF Deputy Managing Director David Lipton said Friday he was optimistic that Greece could get its restructuring program back on track and remain in the eurozone.

Spain: One in four is unemployed

Spain suffered the highest level of joblessness in the eurozone in July, as overall unemployment in the region held steady at a record high.