German Opposition at ECB Hardens as Lautenschlaeger Rebuffs QE

Germany’s board member at the European Central Bank said quantitative easing isn’t the right choice for the euro area at present, hardening a split among policy makers on how to respond to slowing inflation.

EU's Juncker says Luxembourg 'had no choice' on tax

Belgium - New European Commission chief Jean-Claude Juncker on Friday defended his country Luxembourg's controversial tax deals with global firms, saying it had no choice if it wanted to stay competitive.

India scraps gold import curbs

Leading gold buyer India has announced it has eased controls on imports of the yellow metal after its current account deficit narrowed sharply.

Philippines economy slows sharply in third quarter

Growth in the Philippine economy slowed sharply in the third quarter due to weaker growth in all sectors, the government said.

UK GDP growth: fears mount that plan to rebalance economy is failing

Britain’s recovery remained on track in the third quarter but fresh figures revealed growth was heavily reliant on the consumer, leaving the government’s much hoped-for rebalancing of the economy elusive.

French econ min Macron: govt needs to cut spending for fiscal consolidation

(Reuters) - French Economy Minister Emmanuel Macron said on Tuesday the government has to take steps to make public debt more sustainable by cutting government expenditure.

Czech Consumer Confidence Positive First Time in 7 Years

Czech consumer confidence turned positive for the first time in more than seven years, adding to signs that the central bank’s yearlong effort to keep the koruna weak spurred household demand by helping avert deflation.

Schaeuble raps German firms for avoiding taxes via Luxembourg: Focus

(Reuters) - German Finance Minister Wolfgang Schaeuble sharply criticized leading German companies for reducing taxes by creating subsidiaries in Luxembourg, where tax rates are lower, according to Focus news magazine.

Obama to visit India in January: White House

Washington (AFP) - US President Barack Obama will travel to India in January for its Republic Day celebrations, and talks with Prime Minister Narendra Modi, the White House said Friday.

U.S. jobless claims fall; continuing claims lowest since 2000

Nov 20 (Reuters) - The number of Americans filing new claims for unemployment benefits fell less than expected last week, but continued to point to strengthening labor market conditions.

RBS fined £56m for IT meltdown

Royal Bank of Scotland has been fined £56m for a meltdown in its consumer systems that locked 6.5 million customers out of their bank accounts for days on end in June 2012.

Canadians snap up U.S. commercial real estate at record pace

(Reuters) - Canadian investment in U.S. commercial real estate is on track to hit record levels this year, once Canada's second-largest pension fund closes a $2.25 billion deal to buy a landmark Manhattan property, according to data from property research firms.

UK inflation rate rises to 1.3% in October

UK inflation rose to an annual rate of 1.3% in October, up from 1.2% in the previous month, official figures show.

The world should be wary: Japan’s economic woes are contagious

Japan’s surprise descent into recession is going to have big repercussions. It means the abandonment of a planned increase in sales tax. It will lead to the country’s prime minister, Shinzo Abe, calling a snap election.

Carney Says Rate Moves to Take Account of Consumer Costs

Bank of England Governor Mark Carney said policy makers will take account of the interest rates actually paid by consumers as they start pushing rates higher. In an interview with The Australian newspaper, Carney said that banks weren’t now charging customers for liquidity because central bank action meant it was plentiful.

Saudi crown prince says kingdom continues with its balanced oil policy: Media report

DUBAI: Saudi Arabia is continuing with its balanced oil policy to support the market's stability, Crown Prince Salman bin Abdulaziz Al Saud said on Saturday, according to a copy of his speech at the G20 summit published by a state news agency.

Dollar Rises as Oil Rebounds, Stocks Fluctuate Amid Data

The dollar strengthened to a seven-year high against the yen while oil rebounded from the lowest levels since 2010. U.S. stocks ended little changed while Treasuries rose.

India-U.S. deal revives WTO and hope of world trade reform

(Reuters) - India and the United States settled a dispute on Thursday that had paralyzed the World Trade Organization and risked derailing a $1 trillion package of reforms of global customs procedures.

Jean-Claude Juncker: I will lead EU campaign against tax avoidance

Jean-Claude Juncker, the head of the European Union executive, has said he would lead a campaign against tax avoidance and evasion, after dominating Luxembourg politics for 20 years during which the Grand Duchy got rich on the most systematic tax avoidance practices known in Europe.

British retail sales stage modest recovery in October: BRC

(Reuters) - British retail spending recovered modestly last month after falling sharply in September, helped by consumers splashing out on big-ticket items like furniture, an industry survey showed on Tuesday.

China uses APEC to boost regional role

HUAIROU, China — Chinese President Xi Jinping called on Asia-Pacific leaders Tuesday to strengthen trade ties at a summit Beijing is using to boost its role as a regional power with a flurry of trade and finance pacts.

George Osborne criticised for claims over EU £1.7bn bill as UK to pay full amount

George Osborne won more time to settle an outstanding and highly contested £1.7bn EU budget bill and went on to make a disputed claim that he had halved the money owed by factoring in Britain’s budget rebates in Europe.

IMF, U.S. encourage ECB, Japan monetary stimulus

(Reuters) - The International Monetary Fund and the United States encouraged the European Central Bank and the Bank of Japan toward greater monetary stimulus on Friday and urged governments around the world to do their share to cultivate growth in their countries.

ECB ready to do more if needed, signs up to Draghi's target

(Reuters) - European Central Bank members all stand ready to take more policy action if needed to revive a struggling euro economy and the bank's staff will prepare the groundwork, President Mario Draghi said on Thursday.

Russia opens oil price-fixing probe against top firms

Russian state inspectors have opened an inquiry into major Russian oil firms suspected of market rigging to push up petrol prices nationally.

Kuroda Sets No Limits in BOJ Campaign to Spur Inflation

Bank of Japan chief Haruhiko Kuroda highlighted his determination to stoke inflation in the world’s third-biggest economy, saying there’s no limit to measures he could take to reach its price target.

UK manufacturing growth at three-month high

The UK manufacturing activity grew at its fastest pace for three months in October, despite a sharp fall in export orders, a survey has indicated.

Gas under $3 in US for 1st time in 4 years

NEW YORK (AP) The sight is so surprising that Americans are sharing photos of it: The gas station sign, with a price of $2-something a gallon.

Taiwan GDP Growth Misses Estimates After Food Safety Concerns

Taiwan’s economy grew at a slower pace than expected last quarter as concern over food safety damped spending at restaurants.

US grows at annual rate of 3.5% in third quarter

The US economy grew at an annual rate of 3.5% in the July-September quarter, the Commerce Department has said.

Germany faces lower tax intake due to slower growth: Handelsblatt

(Reuters) - Germany will take in several billion euros less in tax revenues next year than expected due to lower growth, Handelsblatt business daily reported on Thursday, a week before experts are due to give a new estimate.

Interest rates can stay low for longer, says Bank of England deputy chief

The Bank of England can afford to keep interest rates low for longer than previously thought, deputy governor Jon Cunliffe has said, in comments that will reinforce the market view that rates will remain at 0.5% until at least the middle of next year.

South Korea's president warns of long-term economic stagnation risk

(Reuters) - South Korean President Park Geun-hye warned the economy is at risk of falling into long-term stagnation and urged for speedier handling of economic law bills in parliament.

US official urges Vietnam to improve human rights

HANOI, Vietnam (AP) — A U.S. official said Sunday that while Vietnam has made progress on human rights, it must do more if it is to forge closer economic and security ties with the United States.

Raise UK interest rates now, says Bank of England policymaker

The Bank of England should begin raising interest rates now, because spare capacity in Britain’s fast-recovering economy could be used up by the middle of next year, adding to inflation pressures, a Bank policymaker said in a Sunday newspaper.

India, 20 others set up Asian Infrastructure Investment Bank

India along with 20 other countries on Friday signed an agreement to become founding members of the China-backed Asian Infrastructure Investment Bank (AIIB) to aid the infrastructure development in the Asian region and reduce the dependence on Western-dominated World Bank and IMF.

EU budget: Britain must pay 'and that's that' says MEP

Europe expects the UK to pay an extra £1.7bn towards the EU budget "and that's that", a vice president of the European Parliament has said.

Russia's Sberbank launches legal challenge against EU over Ukraine sanctions

The state-controlled bank confirmed it had filed a legal challenge at the General Court of the European Court of Justice on Thursday, but did not comment on the terms of the challenge.

Bank of England sets out tough regime for failed banks

(Reuters) - Top managers of a failed bank would be replaced immediately and creditors told within two days the losses they will bear, the Bank of England said on Thursday in its blueprint for avoiding taxpayer bailouts in future financial crises.

Japan's export growth fails to narrow trade deficit

Japan's trade deficit edged higher in September despite exports rising at their fastest pace in seven months.

ECB starts buying covered bonds in fight to revive euro zone economy

(Reuters) - The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, opening a new front in its battle to revive the euro zone economy and keep deflation at bay.

Pakistan central bank to phase in new Islamic finance rules

(Reuters) - Pakistan's central bank will phase in new capital adequacy rules for Islamic banking subsidiaries and trade sharia-compliant government debt in the open market, addressing a lack of liquidity management tools in the sector.

Janet Yellen warns on growing inequality in the US

US Federal Reserve chair Janet Yellen said that she was "greatly concerned" about rising inequality in the US. "I think it is appropriate to ask whether [growing inequality] is compatible with values rooted in our nation's history," she said in a speech in Boston on Friday.

Renzi's Italian budget is not so tax-cutting after all

(Reuters) - Two days after Matteo Renzi presented Italy's 2015 budget it is emerging that the prime minister's claims of unprecedented tax cuts to revive a stagnant economy are not exactly as he described.

Modi Taps Critic of His Budget as Top India Economy Aide

The Indian government named former International Monetary Fund official Arvind Subramanian as its new chief economic adviser, a position left vacant for a year after Raghuram Rajan was appointed central bank governor.

European stock markets recover after another day of tumbles

Leading shares in London clawed back most of their early losses at the close after another day of market turmoil caused by renewed concerns about the eurozone economy and fears about the prospects for global growth.

Germany cuts 2014 growth forecast from 1.8% to 1.2%

The German government has sharply cut its economic growth forecast for this year and next, citing "external" factors for the revision. It now expects growth this year to be 1.2%, down from its previous estimate of 1.8%.

Asian markets mixed after US shares slide

Asian shares have had a mixed day following a sell-off on Wall Street as investors worry about how weak global growth will affect companies' earnings.

Mark Carney says bankers' behaviour needs to change

Bankers' behaviour still needs to change following the financial crisis, Bank of England governor Mark Carney has warned. He said that top executives had "got away without sanction".

China’s Li Says Economic Growth Quality Important as Pace

The “quality” of economic expansion, including job creation and fighting pollution, is as important as its speed amid uncertainty over whether China will reach its growth target this year, Premier Li Keqiang said.

IMF chief: eurozone showing symptoms of Japan’s chronic economic ills

Christine Lagarde, the head of the International Monetary Fund, has warned that the eurozone is displaying the symptoms of Japan’s longstanding economic problems and needs fresh moves to avert the threat of recession.

Bank of England reveals emergency measures if Scotland had voted yes

The Bank of England was ready to flood the financial markets with millions of pounds of emergency funding if Scotland had voted to break away from the UK in last month’s referendum.

Interest rate rise fears help dampen housing demand

The continuing squeeze on workers’ pay packets and the prospect of higher interest rates have sapped the appetite of many homebuyers, according to the surveyors’ body RICS.

World Bank finance chief gives up bonus to please staff

The World Bank chief financial officer is giving up part of his bonus after an uproar over cost-cutting measures at the lender.

Global stock markets hit by fears over economic growth

Global stock markets have been hit by fears over global growth following a run of bad economic news. German figures revealed a sharp drop in industrial production, raising fears than Europe's traditionally strongest economy was weakening.

Rand strengthens on S Africa central bank appointment

South Africa's president, Jacob Zuma, has named the former Treasury boss, Lesetja Kganyago, as the new governor of the country's central bank.

Austerity versus growth version 3.0 at G20/IMF

(Reuters) - World policymakers gather in Washington later this week to ponder how to sustain economic recovery at a time when the United States is about to turn off its money taps.

U.S. hiring accelerates, jobless rate hits six-year low

(Reuters) - U.S. employers ramped up hiring in September and the jobless rate fell to a six-year low, bolstering bets the Federal Reserve will hike interest rates in mid-2015.

US and EU 'make progress' in free trade area talks

Officials from the United States and the European Union say they have made progress as they seek to sweep away trade barriers. Teams from the two sides have held a week of discussions in Chevy Chase, Maryland.

War may delay Ukraine's economic growth until 2016: world bank

(Reuters) - Ukraine's military conflict with pro-Russian separatists in the industrial east will force the Kiev government to shelve hopes of resuming economic growth until 2016, the World Bank said on Thursday.

Weak demand hits factory activity across Asia, Europe

(Reuters) - Dwindling demand hurt factory activity across much of Asia and Europe in September, and mixed manufacturing indicators in the Americas on Wednesday raised the chances of slower global economic growth in the months ahead.

UK economy grew 0.9% in second quarter, says ONS

UK economic growth has been revised up to 0.9% for the second quarter of the year by the Office for National Statistics (ONS), compared with a previous estimate of 0.8%. UK GDP was 3.2% higher in the second quarter compared with a year earlier.

BOJ chief says easy policy affects financial stability

TOKYO (Reuters) - The head of the Bank of Japan said on Monday that monetary policy has a substantial impact not only on prices but also on financial system stability by affecting various asset prices.

India regains 'stable' outlook from S&P on Modi reform agenda

(Reuters) - India regained its "stable" rating from Standard and Poor's on Friday, more than two years after an embarrassing downgrade, in a validation of Prime Minister Narendra Modi's ambitious agenda of economic and fiscal reforms.

Average house price in England and Wales approaching 2007 peak

The average house price in England and Wales is now just £3,500 off the peak of November 2007 thanks largely to a property price surge in London last month, according to the Land Registry.

Markets More in Agreement than Fed on Interest Rate Path

Financial-market participants are in closer agreement about where the Federal Reserve will steer interest rates than the central bank’s own policy makers, according to a study by the New York Fed.

Renzi Vows to Press Ahead With His Italian Reform Agenda

Italian Prime Minister Matteo Renzi said he will press ahead with his plan to overhaul the country’s labor market, a top priority in his agenda, even amid opposition from unions and members of his political party.

Chinese vice-premier keen to revive talks with Japan: executives

(Reuters) - Chinese Vice Premier Wang Yang looks forward to "quickly reviving" high-level economic talks with Japan, he was quoted by visiting Japanese executives as saying on Wednesday, indicating a possible thaw in relations between Asia's two biggest economies.

Appetite for loans picks up again, say major banks

The amount of new borrowing through personal loans has outstripped repayments every month this year, figures from UK banks have indicated.

Bank of Israel Holds Benchmark Rate at Record Low of 0.25%

The Bank of Israel left the benchmark lending rate unchanged following two consecutive surprise cuts, holding it at a record low as the inflation rate dropped to zero and economic growth slowed.

Clinton: Turn female economic issues into movement

WASHINGTON (AP) — Former Secretary of State Hillary Rodham Clinton said Thursday that voters need to turn pay inequity and women's economic security into a political movement in the November elections and beyond, pointing to an issue that could animate a future presidential campaign.

China says will not alter policy because of one economic indicator

(Reuters) - China will not dramatically alter its economic policy because of any one economic indicator, Finance Minister Lou Jiwei said on Sunday, in remarks that came days after many economists lowered growth forecasts having seen the latest set of weak data.

Russian PM Medvedev vows to keep economy open, hails pivot to China

(Reuters) - Prime Minister Dmitry Medvedev said on Friday that Russia would not isolate its sanctions-hit economy from the West but said improving relations with Asian countries has become a key strategy.

Ireland's economy fastest growing in European Union

Ireland's economy has surged 7.7% in a year, according to official figures that appear to show the former Tiger economy has rediscovered its vigour.

Bank split 7-2 on interest rate rise

The Bank of England's Monetary Policy Committee (MPC) was divided for the second consecutive month over interest rate policy, latest minutes show.

China August FDI falls to lowest in at least two-and-a-half years

(Reuters) - China's foreign direct investment inflows in August fell to a low not seen in at least 2-1/2 years, underscoring the challenges to growth facing the world's second-biggest economy.

U.S. and European Sanctions Take Aim at Putin’s Economic Efforts

WASHINGTON — The United States and the European Union dealt a blow on Friday to Russian efforts to develop future oil sources in the Arctic and elsewhere, broadening and deepening the range of sanctions imposed on Moscow in retaliation for its intervention in Ukraine despite the potential cost to Western firms like Exxon Mobil and BP.

China August factory growth slows to near six-year low, calls grow for more stimulus

(Reuters) - China's factory output grew at the weakest pace in nearly six years in August while growth in other key sectors also cooled, raising fears the world's second-largest economy may be at risk of a sharp slowdown unless Beijing takes fresh stimulus measures.

U.S. consumer sentiment at 14-month high in September

(Reuters) - U.S. consumer sentiment rose in September to its highest in more than a year on more upbeat views on the domestic economy in the coming year, a survey released on Friday showed.

Japan business mood turns positive: government survey

(Reuters) - Confidence at big Japanese manufacturers turned positive in July-September and they expect business conditions to improve further in the following quarter, a government survey showed, suggesting a gradual economic recovery from the slump after April's sales tax hike.

France to miss EU budget deficit target

France has admitted it will overshoot the EU's 3% budget deficit target this year, putting the eurozone's second-biggest economy on a collision course with Brussels.

Geopolitical conflicts weighing on German economy

(Reuters) - The German economy remains on track for expansion but geopolitical conflicts and weakness elsewhere in the euro zone are weighing on growth, the economy ministry said in its monthly report on Wednesday.

Ukraine crisis: EU adopts new sanctions on Russia

European Union member states have formally adopted new sanctions on Russia over the Ukraine crisis.

Pound slumps to 10-month low after Scottish yes campaign takes poll lead

The pound has slumped to a 10-month low after the yes campaign took the lead in the opinion polls just 10 days before the Scottish independence vote.

Italian business pushes Renzi for action

(Reuters) - The annual meeting of Italy's business elite on the shores of Lake Como was - again - dominated by calls for reforms and gloomy discussion of an economic crisis now well into its sixth year.

U.S. Stocks Extend Record in Week as Jobs Data Boost Fed Bets

U.S. stocks rose a fifth week, giving the Standard & Poor’s 500 Index (SPX) its longest rally this year, as investors speculated weaker jobs growth will prevent the Federal Reserve from raising rates sooner than anticipated.

Canada Posts Surprise August Employment Decline

Canadian employment unexpectedly fell in August led by a record drop in private-sector jobs, undermining policy makers’ optimism about Canada’s economic recovery.

ECB cuts rates to ward off euro zone deflation threat

(Reuters) - The European Central Bank cut interest rates to new record lows on Thursday, unexpectedly lowering borrowing costs to try to lift inflation from rock-bottom levels and support the stagnating euro zone economy.

South Korea inflation eases to five-month low, gives central bank room to cut again

(Reuters) - South Korea's annual inflation in August eased to its lowest in five months, data on Tuesday showed, giving the central bank sufficient headroom to cut interest rates again to spur economic growth.

Australia's central bank keeps rates low amid moderate growth

(Reuters) - Australia's central bank kept interest rates at record lows for the 12th straight policy meeting on Tuesday and seemed content to stay on the sidelines for a while to come as the economy wrestles with a waning mining boom.

Central European PMIs point to slowdown as sanctions hit sentiment

(Reuters) - Polish manufacturing activity shrank for a second straight month in August and Czech expansion slowed more than expected, adding to signs weaker euro zone economies and crisis in Ukraine are cooling growth in the EU's east.

Ukraine, Afghanistan issues to dominate NATO Summit

WASHINGTON: The current situation in Ukraine and the security transition in Afghanistan at the end of the year will dominate the proceedings of the NATO Summit next week, according to White House officials.

ECB ready to adjust monetary policy, Coeure says in Greek paper

(Reuters) - The European Central Bank is ready to adjust its monetary policy further if needed and boost bank liquidity, ECB executive board member Benoit Coeure said in an essay published in Greek newspaper Ta Nea on Saturday.

Italy Posts Biggest Consumer Price Decline on Record Amid Slump

Italy’s consumer prices this month dropped the most since records began after the euro-area’s third-largest economy slipped into recession, adding to concerns that the region might be headed toward deflation.

Double trouble: China property launches to deepen inventory overhang, price declines

(Reuters) - Property launches in China are set to surge in the latter half of the year with developers sticking to their schedules despite mounting inventories, spelling double trouble for a market hammered by months of falling prices.

Buffett puts shareholders ahead of patriotism in Canadian deal

(Reuters) - Warren Buffett may be most famous for the billions of dollars he has made from investing but he is also well known as a cheerleader for the United States.

Sanction-hit Russian economy nears recession

"The economy is close to recession," said Oleg Zasov, the head of forecasting at the economy ministry, according to Russian news agencies.

New home sales fall, but U.S. economy stays on solid ground

(Reuters) - Sales of new U.S. single-family homes fell for a second straight month in July, but a surge in the stock of properties on the market and slower price gains should help stimulate demand in the months ahead.

A Theory on Long-Term Economic Trends and a Sudden Crash

Employment losses during the Great Recession may have had more to do with factors like the rise of Walmart than with the recession itself, two economists say in a new academic paper.

Iceland Warns Airlines of Ash Plume as Volcano Erupts

Iceland warned airlines of a potential ash plume that could disrupt flights as one of the North Atlantic island nation’s biggest volcanoes erupted after a week of rumbling.

French economy minister urges alternative to German austerity

(Reuters) - The time has come for France to resist Germany's "obsession" with austerity and promote alternative policies across the euro zone that support household consumption, firebrand French Economy Minister Arnaud Montebourg said on Sunday.

UK government finances show an unexpected deficit in July

Government finances showed an unexpected deficit in July for the second year running, according to official figures.

Shrinking Russian economy adds to fears of full-blown recession

MOSCOW (Reuters) - Russia's economy has contracted in annual terms for two months in a row, the Economy Ministry said on Friday, adding to concerns that Russia may be heading for recession as western sanctions over Ukraine bite.

Japan manufacturers' mood, output rise, outlook dims

(Reuters) - Japan's manufacturers reported improving confidence and growth in new orders from domestic and export customers in August, but the service sector's mood soured for a second straight month, reflecting a patchy economic recovery from April's sales tax rise.

Fed debates merits of earlier rate hike given U.S. jobs gains

(Reuters) - The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating.

China economy fears deepen as August HSBC flash PMI at three-month low

(Reuters) - Growth in China's vast factory sector slowed to a three-month low in August as output and new orders moderated, a preliminary private survey showed on Thursday, heightening concerns about increasing softness in the economy.

Rosneft Said to Ask State for Up to $42 Billion After Sanctions

OAO Rosneft (ROSN) asked the state for as much as 1.5 trillion rubles ($42 billion) of aid, a government official said, signaling a U.S. ban on long-term loans to Russia’s largest company is starting to bite.

Japan GDP set to fall sharply; may increase stimulus expectations

(Reuters) - Japan's economy likely shrank sharply in the second quarter, which would be bad news for Prime Minister Shinzo Abe's growth policies, but it could raise market expectations of further stimulus. Data due at 8:50 a.m.

Record fall in youth unemployment pushes UK jobless rate to six-year low

A record fall in youth unemployment has pushed the jobless count to its lowest level for more than five years despite “dismal” wage growth, figures showed today.

Security firm G4S back in profit but more work needed

Security firm G4S has reported a pre-tax profit of £85m for the six months to the end of June, compared with a loss of £94m a year earlier.

China says over 150 'economic fugitives' at large in the U.S

BEIJING (Reuters) - More than 150 economic fugitives, many of whom are corrupt officials or suspected of graft in China, are at large in the United States, Chinese state media said on Monday, citing a senior official from the public security ministry.

UK is now the self-employment capital of western Europe, says IPPR report

Britain is dubbed the self-employment capital of western Europe in a report published on Tuesday that feeds concerns over the strength of the UK's economic recovery.

Britain ‘facing lost decade of economic growth’

Britain is facing a lost decade of economic growth despite the economic recovery, the latest forecasts from a respected think tank suggest today.

Putin’s Trade Blow Throws Finland’s Exporters Into Shock

Some of Finland’s biggest exporters have been thrown into survival mode as they struggle to work out how to cope with Russian import bans unveiled yesterday.

Chinese banks get serious about risk of bad debts swell

(Reuters) - Chinese banks are scrambling to get on top of bad debts they have downplayed for years, cutting off riskier borrowers, further tightening lending terms and, in one case, deploying teams of investigators to assess the risk of loan defaults.

Summit sees US boost security assistance to Africa

Washington (AFP) - The United States will step up its support for the African militaries battling Islamic extremists or conducting dangerous peacekeeping missions, President Barack Obama said.

US trade deficit narrows as imports drop

The US trade deficit fell in June after imports dropped 1.2% from the previous month, the biggest fall in a year.

Banks to be forced to increase competition in SME lending

Britain's biggest banks are to be forced to increase competition in the SME loans market in a bid to ensure further growth in a key part of the economy.

Japan Inc. Seeks to Recover Influence in Brazil

In the 1950s, Japan helped Brazil establish industries such as steelmaking and initiated key purchases of Brazilian iron ore.

Fed's Fisher, Plosser push for earlier rate hike

(Reuters) - Two top Federal Reserve officials known for their hawkish policy views said Friday they believed the U.S. economy was ready for interest rate hikes sooner than many expect, with one saying he thought rate hikes should start this year.

German economic growth to be hit by Ukraine crisis, Ifo head says

(Reuters) - German economic growth will shrink towards zero in the second quarter due to the Ukraine crisis and the tough new economic sanctions imposed on Russia from 0.8 percent in the first quarter, the head of Germany's Ifo institute said on Saturday.

Argentina's government blames 'conspiracy' for defaulting on debt

Argentina's government was in a defiant mood on Thursday after defaulting on its debt for the second time in 13 years.

Russia's Gazprombank says EU sanctions will not affect its financial stability

MOSCOW, July 31 (Reuters) - The inclusion of Gazprombank in the latest round of EU sanctions against Russia over the Ukraine crisis will not affect the bank's financial stability or its ability to fulfil obligations to lenders and investors, the company said on Thursday.

Economy seen regaining muscle in second quarter

(Reuters) - U.S. economic growth likely regained steam in the second quarter as activity picked up broadly, which would bolster expectations for a stronger performance in the last six months of the year.

BP sees profits rise but warns of Russia sanctions risk

BP has warned that further sanctions against Russia could affect its business as it posted a rise in second quarter profits.

Many investors face Scotland exit risk unprotected

(Reuters) - Less than two months before an independence vote that could ultimately tear apart a G7 country, investors in financial markets seem largely unmoved.

Draghi Safety Net Becomes Blindfold to Risk as Bonds Soar

Two years since European Central Bank President Mario Draghi’s historic promise to defend his currency bloc, there are signs bond investors are growing too complacent under his protection.

Russia raises rates in move seen as arming for sanctions

(Reuters) - The Russian central bank unexpectedly raised interest rates on Friday, apparently preparing for possible further Western sanctions over Ukraine that could speed up capital flight from Moscow's already battered markets.

Spanish jobless rate below 25% for the first time in two years

The unemployment rate in Spain has fallen below 25% for the first time in two years, thanks to the beginning of a revival in the economy.

IMF Cuts 2014 Global Forecast After Slowdowns in China, U.S.

The International Monetary Fund lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices.

Europe braced for any gas crisis as Russia sanctions escalate

Europe has enough spare capacity in liquefied natural gas (LNG) to meet a large part of the region’s needs if Russia retaliates against the latest EU sanctions by restricting gas supplies.

Soros Chart Shows Euro-Yen Reaching 2008 High: Chart of the Day

The euro will surge to a six-year high against the yen by the end of 2014 as the European Central Bank isn’t printing money as fast as the Bank of Japan, according to Daiwa Securities Co.

China home prices fall again in June, stirring policy hopes

(Reuters) - China's new home prices fell in June from May for a second straight month and analysts forecast the falls would continue - sparking a surprise rally in Chinese property stocks as investors anticipated imminent government support.

EU call for views on U.S. trade deal draws huge response

(Reuters) - The European Commission's call for views on a contentious part of a planned EU-U.S. free trade deal has drawn almost 150,000 responses that will take months to process, a senior EU official said on Friday.

IMF's Lagarde says financial markets 'perhaps too upbeat' on Europe

(Reuters) - The head of the International Monetary Fund warned on Friday that financial markets were "perhaps too upbeat" because high unemployment and high debt in Europe could drag down investment and hurt future growth prospects.

Malaysia plane crash rattles US market

US shares ended sharply lower after geopolitical unrest unnerved investors.

Profit growth at Chinese state firms accelerates in H1

(Reuters) - China's state-owned firms enjoyed faster growth in their profits in the first six months of 2014, official data showed on Thursday, the latest indication that the economy is picking up as government stimulus measures kick in.

EU's Juncker wins approval with 'grand coalition' program

(Reuters) - Jean-Claude Juncker won a wide endorsement from the European Parliament on Tuesday to be the next head of the executive European Commission after setting out a "grand coalition" investment programme to help revive Europe's economy.

U.S. risks fiscal crisis from rising debt: CBO

WASHINGTON (MarketWatch) — The U.S. risks a fiscal crisis if it doesn’t get large and continuously growing federal debt under control, the Congressional Budget Office said Tuesday.

US, China vow greater economic and security cooperation

BEIJING — The United States and China vowed today to improve their economic and security cooperation, saying they wouldn't let persistent differences over maritime claims, cyberhacking and currency hamper a relationship critical to global peace and prosperity.

Economy needs consumers to chip in

WASHINGTON (MarketWatch) — The U.S. economy is revved up and ready to go by most measures except for, perhaps, the most critical one: The consumer.

Rate liftoff still not likely until second half of 2015: Fed's Lockhart

(Reuters) - Federal Reserve officials on Friday said U.S. labor markets remain slack and inflation unlikely to accelerate, damping any sense that recent strong jobs and other data may prompt the central bank to raise interest rates sooner than expected.

German cabinet clears way for Europe's banking union

(Reuters) - Germany's cabinet has approved a package of draft laws which effectively give the go-ahead to Europe's plans for banking union - its main confidence-building response to the crisis in the financial sector, a government source said on Wednesday.

UK economy growing solidly but exports and investment slip - survey

LONDON (Reuters) - Britain's economy kept growing at a robust rate in the second quarter, but exports and business investment weakened, clouding the prospects for a balanced recovery, a major business survey showed on Tuesday.

European Stocks Little Changed as Espirito Santo Declines

European stocks were little changed as investors awaited minutes from the Federal Reserve’s most recent meeting and as Banco Espirito Santo SA led Portuguese stocks to this year’s low.

Greece Resists Troika on Third Bailout as Draghi Protests Delays

Greece fought off calls to consider a third bailout as European Central Bank President Mario Draghi warned that the pace of economic fixes is slowing, officials said after euro-area finance ministers met yesterday.

Turkey to keep economic policies and personnel under Erdogan presidency -officials

ISTANBUL/ANKARA, July 7 (Reuters) - Turkish officials say key economic ministers will stay in post if, as expected, prime minister Tayyip Erdogan becomes president next month, and they dismissed fears that policy would take a populist turn, jeopardising more than a decade of strong growth.

ECB’s Noyer says seems deflation risk has been avoided

(Reuters) - European Central Bank (ECB) policymaker Christian Noyer said on Saturday it seemed that the risk of deflation had been avoided in euro currency zone, even if inflation remained too low.

Irish Economy Returns to Growth With 2.7% Surge

Ireland’s economy returned to growth in the first quarter as pressure mounts on Prime Minister Enda Kenny to ease austerity after years of spending cuts and tax increases.

Market Access, Currency Value to Top US-China Dialogue

WASHINGTON — U.S. Treasury Secretary Jack Lew says the pace of economic reform and the need for further appreciation of China’s currency will be among the issues at next week’s (July 9, 10) Strategic and Economic Dialogue in Beijing.

US non-farm payrolls: what the economists say

There was a sharper than expected rise in the number of jobs created in the US in June, at 288,000. Economists had forecast a more modest rise in non-farm payrolls of 212,000.

Housebuilding boosts UK construction again in June

An increase in housebuilding helped the UK construction industry to grow at its fastest pace for four months in June, a survey has suggested.

Security detail for Fed chairwoman irks neighbors

WASHINGTON—In the Georgetown gated community of Hillandale, residents live in secluded calm governed by some 50 pages of rules banning fences, motorcycles, certain paint colors, tree species and excess dogs and cats (no more than two total per household).

BIS: Central banks warned of 'false sense of security'

The Bank for International Settlements (BIS) has warned that ultra-low interest rates have lulled governments and markets "into a false sense of security".

French employers urge Hollande to speed up reforms, cut spending

(Reuters) - French employer groups called on President Francois Hollande to speed up reforms and cut public spending to revive the ailing economy in a joint statement issued on Sunday ahead of an annual conference of government officials, employers and labor unions.

Gartner: Let’s get ready for ‘digital business,’ especially you security pros

IT security professionals need to ready themselves for the coming “digital business” revolution and a new breed of security implications that it’s sure to bring, said Gartner analyst Jorge Lopez at the Gartner Security and Risk Management Summit yesterday.

UK economic growth boosted by business investment

UK economic growth in the first quarter was helped by the fastest expansion in business investment in two years, official figures have shown.

Americans still hesitant to spend more

Personal income rose 0.4% in May, according to the Bureau of Economic Analysis. It may not sound like much, but it marked the fifth straight month in a row that incomes rose.

US court fines Credit Suisse trader over bond prices

A New York court has fined a former UK-based Credit Suisse trader for his role in artificially inflating bond prices.

Japan approves string of reforms to revive economy

TOKYO (AP) — Japanese Prime Minister Shinzo Abe has formally announced an outline of his long-awaited growth strategy, a slew of reforms meant to revitalize the economy and restore its waning competitiveness.

Drone markets open in Russia, China and rogue states as America's wars wane

Last October, in a private ceremony held at a stately mansion on the campus of the California Institute of Technology, the Aerospace Historical Society awarded the reclusive, 78-year-old CEO of General Atomics, Neal Blue, with the prestigious Von Karman Wings Award, a sort of Nobel Prize in the field, for “pioneering novel applications" of military drones.

IMF considers asking for longer debt maturities in bailouts

(Reuters) - The International Monetary Fund should ask private bondholders to hold onto the debt of financially distressed countries for longer, as the global lender seeks to improve its sovereign debt restructuring strategy, IMF economists said on Friday.

Recovery Tipped For Hong Kong Stocks

(RTTNews.com) - The losing streak has stretched to three sessions now for the Hong Kong stock market, which has given away more than 135 points or 0.6 percent in that span.

Strong pound likely to dent UK manufacturing growth, warns CBI

Britain's factories have their strongest order books in six months but a rising pound could start to weigh on exports, the CBI has warned.

Ukraine crisis: EU deal to be signed on 27 June

The new president of Ukraine, Petro Poroshenko, has said he will sign a controversial association agreement with the EU on 27 June.

Russia may revise 2014 GDP forecast upwards - economy minister

(Reuters) - Russia's gross domestic product growth forecast of 0.5 percent for 2014 may be revised upwards in September due to the slowing pace of a decline in investment, Economy Minister Alexei Ulyukayev said on Thursday.

IMF cuts US growth forecast as it urges minimum wage hike

The International Monetary Fund (IMF) has slashed its US growth forecast, urged policy makers to keep interest rates low and raise the minimum wage to strengthen its recovery.

Japan's GPIF should quickly enact portfolio changes: draft

(Reuters) - Japan's Government Pension Investment Fund (GPIF), the world's biggest pension system, should quickly enact changes to its investment portfolio management strategy, a draft of the government's growth strategy showed on Monday.

Chancellor says 200,000 homes could be built on brownfield land by 2020

Chancellor George Osborne claimed on Friday that 200,000 new homes could be created by 2020 by accelerating development of disused industrial sites.

U.S. consumer sentiment slips in June

(Reuters) - U.S. consumer sentiment fell in June as views by consumers with the lowest incomes soured, a survey released on Friday showed.

China’s New Loans Top Estimates in Boost for Economy

China’s new yuan loans and money supply topped estimates in May as the government supports economic growth while reining in shadow banking.

UK unemployment total falls to 2.16m

The UK jobs market continued to improve in the three months to April, although the rate of wage increases slowed sharply, official figures show.

ECB's long-term loans to see strong demand, won't boost interbank lending: poll

(Reuters) - Demand for the European Central Bank's newly announced long-term loans will be strong, traders polled by Reuters said, but they will do little to boost interbank lending.

Ghana’s Risk Rising as Bank Prints Money to Pay Debt, Fitch Says

Ghana’s central bank is printing money to help finance the government’s budget deficit, threatening to fuel inflation and weaken a currency that’s already the worst performer in Africa this year.

Sisi keeps Egyptian premier to fix economy after turmoil

CAIRO (Reuters) - Newly inaugurated President Abdel Fattah al-Sisi reappointed Egypt's prime minister on Monday, signalling continuity as he sets out to fix the economy and overcome political divisions after a long period of turmoil and bloodshed.

Bulgaria halts work on gas pipeline after US talks

Bulgaria is to halt work on its Russian-backed South Stream gas pipeline following criticism from the EU and US. Prime Minister Plamen Oresharski announced that he had "ordered all work to be stopped".

ECB Liquidity Success Depends on Loan Demand, Japan’s Aso Says

The European Central Bank’s bid to head off deflation hinges on the take up for the unprecedented cash it’s pumping into the economy, Japanese Finance Minister Taro Aso said.

Bundesbank Cuts Prices Forecast as ECB Fights Low Inflation

The Bundesbank cut its inflation forecast for Germany this year, reflecting the euro area’s battle with subdued price pressures.

BOJ's Sato warns euro area of Japan-style deflation risk

Japan, June 5 (Reuters) - The euro area may face a prolonged period of disinflation that risks harming long-term price expectations, a Bank of Japan policymaker said, warning that the region should not take lightly the potential danger of slipping into a Japan-style deflationary period.

Australian PM says tour will boost security

CANBERRA, Australia (AP) — Australian Prime Minister Tony Abbott said on Wednesday his 12-day, four-nation tour will bolster his country's economic and national security.

Russia, China to create joint rating agency as ties grow

(Reuters) - Russia and China have reached an agreement to create a joint credit rating agency and are working on a series of measures to make trade easier, Russia's finance minister said on Tuesday, a sign of growing ties between the neighbors.

UK manufacturing, mortgage data point to more balanced recovery

LONDON (Reuters) - Britain's economic recovery is showing signs of a healthier balance after data on Monday suggested some of the heat is coming out of the housing market while manufacturing remains strong.

Snubs, harsh words at Asia security meet as U.S. and Japan rile China

SINGAPORE (Reuters) - When Japan's defense minister greeted the deputy chief of staff of China's army at a regional security forum this weekend, he was undiplomatically snubbed.

Europe needs to stick to reform path to secure growth: ECB's Mersch

(Reuters) - European policymakers should not give up on efforts to make their economies more efficient and stick to budget rules, despite a strong protest vote in European Parliament elections, the ECB's Yves Mersch said on Saturday.

U.S. economy stumbles in first-quarter, but prospects brighter

(Reuters) - The U.S. economy contracted for the first time in three years in the first quarter as it buckled under a severe winter, but there are signs it has rebounded and economists say it could grow as much as 4 percent in the current quarter.

Spanish economy posts third straight quarter of growth

(Reuters) - The Spanish economy grew between January and March, buoyed by recovering domestic demand and marking the third quarter of growth as the country shakes off a long-running recession, data showed on Thursday.

Bank of England chief Mark Carney warns of rising inequality as average US chiefs’ pay tops $10m

The Bank of England’s Governor Mark Carney has warned that a more unequal society was “amplifying the rewards of the superstar” as he pledged to help build a “more trustworthy” capitalism.

Canada's top banks agree to no-cost accounts for the low-income

(Reuters) - Canada's eight largest banks have agreed to provide no-cost accounts to 7 million low-income people, Finance Minister Joe Oliver said on Tuesday as part of the Conservative government's consumer protection agenda ahead of a 2015 election.

Obama congratulates new India PM Modi

Washington (AFP) - US President Barack Obama congratulated Narendra Modi and said he was looking forward to working with him after he was sworn in as Indian prime minister on Monday.

Euro-Area Periphery Hooked on BOJ Stimulus: Chart of the Day

Euro-area peripheral bonds are hooked on Japan’s monetary stimulus.

US claims win in car trade dispute with China

GENEVA (AP) — The United States claimed victory in a trade dispute Friday after a key panel ruled that China's anti-dumping duties on imports of American-made cars and sport-utility vehicles violate international trade rules.

China vows year-long terrorism crackdown after attack

Beijing (AFP) - China on Sunday vowed a year-long campaign against terrorism, days after attackers in the western region of Xinjiang killed 39 people in a suicide raid.

EU election casts shadow over euro zone as ECB meeting approaches

(Reuters) - Investors this week will be watching the results of elections that could deal a blow to political parties that are key to reform efforts in the European Union and could also fan instability in Ukraine.

Italian Bonds Fall as EU Elections Test Investor Demand

Italian government bonds fell for a second week, pushing 10-year yields up from near a record low, amid speculation results of European Parliament elections may derail the euro region’s recovery.

Putin tries to woo investors to Russia but many stay away

(Reuters) - President Vladimir Putin tried on Thursday to warm up relations with foreign investors chilled by the crisis in Ukraine, but many senior executives snubbed him by boycotting a conference billed as Russia's answer to Davos.

eBay faces backlash on hack delays

Online marketplace eBay is facing questions over its handling of a hack attack that exposed millions of passwords and other data.

Fed may need to update its interest rate guide

(Reuters) - Interpreting Federal Reserve policy is hard enough, but the central bank may need to dust off its 'How to' guide to explain the nuts and bolts of new tools it will use when it finally starts to raise interest rates.

What's really behind China's clash with Vietnam

Territorial conflict is an old story in the South China Sea, where several nations make conflicting claims on the region—and its oil and gas potential. But the escalating conflict between Vietnam and China is something new altogether.

Fast-Food Workers Stage Worldwide Protests Over Minimum Wage

Fast-food workers seeking higher pay protested around the globe at chains such as McDonald’s, Burger King and Wendy’s amid a broader debate about raising the minimum wage.

French government announces tax relief as euro election looms

(Reuters) - French Prime Minister Manuel Valls, struggling to win back disgruntled voters, said on Friday his government planned to exempt a further 1.8 million households from income tax, at a cost to the state of 1 billion euros ($1.4 billion).

Russia confirms sharp fall in growth

Russia's economy slowed sharply in the first three months of 2014 as the Ukraine crisis slammed business confidence and investment.

Italy's Berlusconi says he was forced out by EU 'plot'

(Reuters) - Former Italian prime minister Silvio Berlusconi repeated accusations on Wednesday that he had been forced out of office at the height of the euro zone crisis in 2011 as the result of a plot by European Union officials.

Saudi Arabia’s Oil Minister Ali al-Naimi Says His Country Will Supply More Oil If Ukraine Crisis Creates Shortage

Saudi Arabia, the world’s largest producer and exporter of oil, on Monday sought to reassure markets by stating that it is willing to increase the supply of crude if the ongoing crisis in eastern Ukraine created a shortage.

Japan Shows Resilience to Tax-Rise on Record Confidence Gain

Confidence in Japan’s economic outlook among taxi drivers and restaurant staff and other workers soared by a record in April, indicating the blow from last month’s sales-tax increase may be short-lived.

U.S. economic growth could top 3 percent in second quarter: Fed's Lockhart

(Reuters) - The U.S. economy could grow 3 percent or more in the second quarter of this year and the housing market is likely to pick up again after recent sluggishness, a U.S. Federal Reserve official said on Sunday.

Portugal Q1 jobless rate falls for fourth consecutive quarter

LISBON: Portugal's jobless rate fell for the fourth consecutive quarter in the three months that ended in March, to 15.1 percent from 15.3 percent in the previous quarter, data showed on Friday.

Yen at 85 Seen by Tokai Predicting BOJ Policy Miss: Japan Credit

The Bank of Japan’s failure to achieve its inflation target will see the yen rebound to the highest since 2012, reversing the results of its unprecedented stimulus, according to Tokai Tokyo Securities Co.

Aliko Dangote to invest $2.3bn in north Nigeria

Nigerian businessman Aliko Dangote has said that he will invest $2.3bn (£1.35bn) in sugar and rice production in the north of the country.

Lloyd's calls on insurers to take into account climate-change risk

Lloyd's of London, the world's oldest and biggest insurance market, has for the first time called on insurers to incorporate climate change into their models.

Big ANC majority could usher in South African economic reforms

JOHANNESBURG (Reuters) - In the 20 years since apartheid, South African jewellery designer Nthabiseng Xaba has gone from bank clerk to state employee to thriving entrepreneur - just the kind of economic improvement story the government wants to promote.

Portugal to Emulate Ireland in Exit From Bailout Program

Portugal will follow Ireland in exiting its three-year bailout program without seeking a precautionary credit line, after bond yields in peripheral Europe dropped to pre-crisis levels.

Side deals with Moscow thwart drive to wean Europe off Russian gas

(Reuters) - While officials in Brussels were calling for Europe to reduce its dependency on Russian natural gas and negotiate with Moscow as a bloc, Austria was quietly bypassing the European Commission to cut its own bilateral deal on building a pipeline.

Japan considers tax breaks to promote investment, help companies: report

(Reuters) - Japan is considering expanding tax breaks and loosening some rules to promote investment in start-ups as part of the second installment of the government's economic growth strategy, the Nikkei newspaper reported on Saturday.

Bank of England warns on house price 'correction'

The Bank of England has given a stark warning that the recent surge in house prices could end in a crash.

Jamaica scraps bank withdrawal tax

The Jamaican government has announced it is scrapping controversial plans for a tax on bank withdrawals.

Dutch PM threatened in 2012 to quit euro zone over reform contracts: newspaper

(Reuters) - Dutch prime minister Mark Rutte threatened in 2012 to take his country out of the euro zone if Brussels pushed forward with plans to impose "reform contracts" on member states, according to the daily De Volkskrant, citing several sources.

UK economy grows by 0.8% in first quarter

The UK economy grew by 0.8% in the first quarter of 2014, according to the latest figures. It marks the fifth consecutive period of GDP growth - the longest positive run since the financial crisis.

Increased borrowing drives shopper spending

Shoppers are increasingly turning to borrowed cash after the first growth in overdrafts and personal loans for five years, figures showed today.

Russia Faces More Sanctions as Monitors Held in Ukraine

Group of Seven leaders agreed to impose additional sanctions on Russia, blaming it for stoking the conflict in Ukraine as the government in Kiev said rebels had taken international military observers hostage.

Trade, security on agenda for Obama in Malaysia

KUALA LUMPUR, Malaysia (AP) — Opening the first visit to Malaysia by a U.S. president in nearly half a century, Barack Obama looked ahead Saturday to economic and security talks with Prime Minister Najib Razak, who leads a southeast Asian nation with an important role in Obama's efforts to forge deeper ties with the region.

Japan PM Abe says achieved 'historic' success with Obama

"It was a historic statement for Japan and the United States," Abe told reporters shortly after Obama finished the first state visit to Japan by a U.S. president in 18 years.

Euro Factory Surveys Rise as Price Weakness Persists

Euro-area services and manufacturing expanded faster than economists forecast in April, indicating the economy continued to strengthen at the start of the second quarter.

German Economy Strengthens as Industry Survey Beats Estimate

German manufacturing and services strengthened more than economists forecast this month, adding to signs that the euro area’s largest economy is underpinning the region’s recovery.

Fall in lending to UK business raises concerns over shape of recovery

Lending to businesses fell again in recent months but more mortgages were approved, fanning fears of a housing bubble and raising more concerns over the shape of the recovery.

Russia's PM says government has funds to honor social spending pledges

(Reuters) - Russia's government has enough resources honor all its social spending pledges although this will not be easy, Prime Minister Dmitry Medvedev was quoted as telling the country's president on Saturday as tensions over Crimea add to Moscow's economic ills.

Japan to arm remote western island, risking more China tension

(Reuters) - Japan is sending 100 soldiers and radar to its westernmost outpost, a tropical island off Taiwan, in a deployment that risks angering China with ties between Asia's biggest economies already hurt by a dispute over nearby islands they both claim.

Fed bond buying twice as effective on growth as BoE's: research

(Reuters) - Bond purchases by the U.S. Federal Reserve have been twice as effective at boosting economic output as those by the Bank of England, research by a BoE policymaker showed on Thursday.

Global accounting body airs possible reform of bank hedging rule

(Reuters) - Investors would be able to make a more accurate assessment of how well banks manage risks on their books under proposals published by the International Accounting Standards Board (IASB) on Thursday.

Weak U.S. prices, not inflation, the threat now: Fed's Yellen

(Reuters) - Persistently low inflation poses a more immediate threat to the U.S. economy than rising prices, Federal Reserve Chair Janet Yellen said on Wednesday, stressing that the U.S. central bank would be delivering policy stimulus for some time to come.

Russia Sees Euro, Dollar Investments at Risk in Ukraine Backlash

Sanctions over Ukraine may threaten Russia’s investments in assets denominated in euros and U.S. dollars, Economy Minister Alexei Ulyukayev said, urging the use of the nation’s wealth funds for domestic projects.

Nigeria pledges massive security for World Economic Forum event

Nigeria will mount a massive security operation to protect a World Economic Forum on Africa planned in Abuja next month, following the bomb attack by suspected Islamist militants on the capital's outskirts on Monday, the event's Nigerian hosts said.

Sanctions Are Eased; Iran Sees Little Relief

Halfway through a six-month nuclear deal between Iran and major world powers that was meant to allow time to reach a comprehensive agreement, the Iranians have seen little in the way of a boost from the sanctions relief they had been expecting, trade lawyers and diplomatic analysts say.

Europe's top banks cut 80,000 more staff in post-crisis overhaul

(Reuters) - Europe's largest banks cut their staff by another 3.5 percent last year and the prospect of a return to pre-crisis employment levels seems far off, despite the region's fledgling economic recovery.

G20 urges US to ratify IMF reforms by year-end

The G20 pressed the United States on Friday to ratify crucial IMF reforms after four years of waiting, suggesting they would find an alternative if Washington does not deliver by year's end.

Security Council Approves UN Peacekeeping Mission For CAR

Voicing serious concerns over the deteriorating security situation and ongoing human rights abuses in the Central African Republic (CAR), the Security Council on Thursday approved the establishment of a nearly 12,000-strong United Nations peacekeeping operation to protect civilians and facilitate humanitarian access in the war-torn African country.

China boosts market ties with Hong Kong

China is boosting stock market ties with Hong Kong with new measures allowing cross-border stock investment between Hong Kong and Shanghai.

BOJ unruffled by Japan's weak machinery orders, quells stimulus hopes

(Reuters) - Japan's economy took another knock as a gauge of business investment weakened, but the Bank of Japan remained unperturbed and is expected to release optimistic inflation projections as a swing voter on its board turned more confident about the growth outlook.

Australia consumer sentiment edges higher in April: survey

(Reuters) - A measure of Australian consumer sentiment inched higher for the first time in five months in April as households became more optimistic on the near-term outlook for both the economy and their own finances.

Japan, Australia said to clinch trade deal as U.S.-Tokyo talks heat up

(Reuters) - Japan and Australia clinched a basic trade deal to cut import tariffs, Australian media reported, as U.S. and Japanese officials stepped up efforts to reach a parallel agreement that would re-energize stalled talks on a broader regional pact.

EU foreign ministers meet in Athens to discuss Ukraine crisis, Syrian civil war

ATHENS, GREECE: European Union foreign ministers have gathered in Athens for the second day of an informal meeting where attention has focused on the crisis in Ukraine and the civil war in Syria.

Price cuts aid first-quarter growth for euro zone businesses

(Reuters) - Euro zone businesses started 2014 with their best quarter in three years, but buoyant growth came at a cost as they slashed prices to drum up trade, which could further stoke deflation fears.

Kerry hails Morocco reforms, regional security efforts

Rabat (AFP) - Secretary of State John Kerry on Friday pledged US support for Moroccan reforms and efforts to promote regional stability, while also highlighting the social challenges faced by Rabat.

ECB president takes swipe at IMF over policy recommendations

European Central Bank President Mario Draghi swatted away suggestions from the International Monetary Fund that his bank should ease monetary policy further on Thursday, questioning the timing of the Fund's most recent comments.

Angela Merkel approves Germany's first minimum wage

German Chancellor Angela Merkel has approved the country's first minimum wage, at 8.50 euros an hour (£7; $11.75), to start in 2015.

Australia job vacancies rise 2.6 percent in February quarter

(Reuters) - Job vacancies in Australia rebounded last quarter as expanded openings in the private sector offset continued weakness in government employment and added to signs that hiring is stabilizing.

In Brussels, China learns 'eurospeak' to seek influence

(Reuters) - At the height of the euro zone crisis, a Chinese official quipped that Europe was being reduced to a "wonderful theme park" for tourists.

US GDP grew 2.6% in Q4

Economic growth in the United States grew faster than previously estimated in the fourth quarter of last year helped by stronger consumer spending, the U.S. Commerce Department said on Thursday.

Mexico economy hampered by U.S., weather in first quarter: Carstens

(Reuters) - Mexico's economic growth in the first quarter of the year is being affected by slower growth in the United States and by poor weather, Mexico Central Bank Governor Agustin Carstens said on Friday.

Japan prices rise for ninth month ahead of tax increase

Consumer prices in Japan increased by 1.3% in February compared with the same period last year, marking the ninth month in a row of gains.

Bank of England readies tools to rein in risky mortgage lending

(Reuters) - The Bank of England urged banks on Thursday to consider the risk of future spikes in interest rates when they approve mortgages, and prepared tools to rein back potentially dangerous lending.

European leaders ask Obama to allow increased exports of US shale gas

European leaders on Wednesday asked Barack Obama to share the US's shale gas bonanza with Europe by facilitating gas exports to help counter the stranglehold Russia has on the continent's energy needs.

Americans still worried about their financial future

Most Americans believe that the Great Recession is over, according to MONEY magazine's new national survey.But a Great Insecurity seems to have emerged in its wake.

German economy makes solid start to 2014: finance ministry

(Reuters) - The German economy got off to a solid start in the first quarter and the data point towards a broad upturn, the Finance Ministry said in its monthly report for March released on Tuesday.

China Expands Bank Financing With Preferred Stock Trial

China issued rules for a trial program allowing companies to sell preferred stock, expanding financing options for the nation’s banks as they seek to address tougher capital requirements.

Housing market 'momentum' continues

Property sales rose sharply in February compared with a year ago, while rental costs started to go up again, figures have suggested.

Blow for Scottish nationalists as BAE says split would destroy jobs

The defence giant BAE Systems has finally warned that Scottish independence could threaten thousands of jobs north of the border, after months of refusing to comment on September's vote.

Bank Rossiya Becomes First Russian Lender Under U.S. Sanctions

OAO Bank Rossiya, a St. Petersburg-based lender owned by associates of Russian President Vladimir Putin, became the first financial institution to face U.S. sanctions over the Ukraine crisis.

Inflation in U.S. Shows Little Pickup as Fed Meets: Economy

The cost of living in the U.S. was little changed in February, showing inflation remains well below the Federal Reserve’s goal as policy makers meet to decide on the path of interest rates.

US consumer price growth remains weak

US consumer prices were little changed in February, indicating that inflation continues to remain tame. The consumer price index rose 0.1%, from a month earlier. That matched the increase seen in January.

In doubling yuan trading band, China aggravates foreign investor concerns

(Reuters) - The Chinese central bank's decision to relax its grip on the yuan has been welcomed as a sign of financial liberalization, but it is aggravating concerns among foreign executives and investors about their exposure to China in the near term.

British economic recovery incomplete, warns Osborne

London (AFP) - Chancellor of the Exchequer George Osborne warned Sunday that Britain's economic recovery was on course but far from completion as he prepared to deliver his annual budget this week.

Mexico central bank seen holding rates steady next week: Reuters poll

(Reuters) - Mexico's central bank is expected to hold its main interest rate steady next Friday and policymakers are likely to brush off higher inflation as they look to support an economic recovery, a Reuters poll showed on Friday.

Japan February exports seen accelerating; trade gap to narrow

(Reuters) - Japan's export growth is forecast to have accelerated in February as shipments recovered from a Lunar New Year slowdown, which along with slower import growth is expected see the trade deficit narrow from record levels, a Reuters poll shows.

Mark Zuckerberg 'confused and frustrated' by US spying

Facebook founder Mark Zuckerberg has said he has called President Barack Obama to "express frustration" over US digital surveillance.

Libya's parliament ejects 'failed' prime minister

Ali Zeidan has been criticized, opposed, and even briefly kidnapped since taking office as interim prime minister in October 2012.

Poland Says German Reliance on Russian Gas Threatens Europe

WARSAW -- Germany's reliance on Russian natural gas poses a threat to European sovereignty, Polish Prime Minister Doland Tusk warned Monday amid rising East-West tensions over Ukraine.

Italy must wait to see if reform efforts affect budget goals: minister

(Reuters) - Italy will have to wait to judge whether planned structural reforms will affect its ability to meet strict European Union budget limits, Economy Minister Pier Carlo Padoan said on Monday.

Japan fourth-quarter GDP revised down to +0.2 percent quarter on quarter

(Reuters) - Japan's economy grew 0.2 percent in October-December from the previous quarter, government data showed on Monday, revised down from a preliminary 0.3 percent expansion due to slower growth in capital spending and private consumption.

US economy adds 175,000 jobs in February

The US economy added 175,000 new jobs in February, but the unemployment rate rose slightly to 6.7%.

Heavier sanctions on Russia could backfire

WASHINGTON (AP) — Underlying talk about taking harsh punitive measures against Russia for its military incursion into Ukraine are economic complications and worries that sanctions levied against Moscow could backfire on the U.S. and Europe.

European Central Bank keeps interest rates at 0.25%

The European Central Bank (ECB) has kept its benchmark interest rate at its record low of 0.25%. The bank slightly raised its forecast for growth to 1.2% in 2014, but dropped its inflation estimate.

UK energy security at risk as gas imports surge - Centrica

Britain must find new sources of energy fast as the quantity of imported natural gas is expected to increase at a much faster rate than the government had previously expected, the chief executive of Centrica has warned.

Ukraine crisis sends wheat and corn prices soaring

Wheat and corn prices have risen sharply in response to the crisis in Ukraine, which is one of the world's biggest exporters of both crops.

Buffett says economy continues to grow steadily

OMAHA, Neb. (AP) — Investor Warren Buffett says the economy continues the steady improvement that began in fall of 2009 and he remains optimistic despite Russia's advance into Ukraine.

Lew Says Ukraine’s Leaders Ready to Tackle ‘Market Reforms’

Ukraine is ready to undertake “urgently needed market reforms” to help restore financial stability and strengthen its economy, U.S. Treasury Secretary Jacob J. Lew said today after several conversations with Ukrainian Prime Minister Arseniy Yatsenyuk.

US economy grew 2.4% in fourth quarter

Washington (AFP) - The US economy grew more slowly late last year than previously thought, but there was enough vigor that the Federal Reserve will likely continue reducing its stimulus program, analysts said.

Ukrainian currency hits 10-year low

Ukraine's currency, the hryvnia, has fallen to a new low of 10 to the US dollar. The currency's decline reflects political upheavals and longer-term persistent economic weakness.

China's official PMI seen hitting eight-month low

(Reuters) - China's factory activity likely expanded only slightly in February, a Reuters poll showed, dropping to an eight-month low that would indicate a modest slowdown is continuing.

UK GDP: Investment fuels hopes of balanced recovery

Hopes for a stable and sustained recovery were boosted today as official figures showed the economy becoming less reliant on consumer spending after a surge in business investment.

Harsh weather tests optimism over U.S. economy

(Reuters) - Unusually cold weather will take a bite out of U.S. economic growth this quarter, but a rebound seems likely on the horizon and expectations for stronger growth this year have not changed.

G20 pledges to add $2 trillion to global economy

The largest global economies have pledged to install policies that will add $2 trillion to the world economy over the next five years.

Rate of UK unemployment decline slows – but there are more falls to come

The latest unemployment figures are a bit of a mixed bag. In the final three months of 2013, the number of people classified as jobless fell by 125,000.

Senior German official brands country's trade surplus 'unfair'

(Reuters) - A leading German foreign ministry official has called the country's massive trade surplus "unfair", joining others in Europe and the United States in criticizing Germany for not boosting its domestic demand and dismantling global imbalances.

Iran's most sensitive uranium stockpile falls after nuclear deal

(Reuters) - The size of Iran's most contested uranium stockpile has declined significantly for the first time in four years following a landmark nuclear deal with world powers in November, the U.N. atomic watchdog reported on Thursday.

G-20 ready to take action to underpin global growth: Saccomanni

(Reuters) - Italy's outgoing Economy Minister Fabrizio Saccomanni on Wednesday said market turmoil in emerging markets is a threat to global growth and the world's 20 major economies are ready do what is necessary to underpin output.

Bank of Japan holds fire despite soft GDP, expands loan programs

(Reuters) - The Bank of Japan maintained its expansionary monetary policy on Tuesday and extended special loan programs to help buoy economic growth, signaling its resolve to keep the positive mood generated by premier Shinzo Abe's reflationary policies from fading.

India interim budget: Indirect taxes on cars cut

India's Finance Minister Palaniappan Chidambaram has cut indirect taxes on cars and mobile phones in an attempt to boost economic growth.

BoE's Carney: jobs, incomes, wages to be factored into any rate rise

(Reuters) - The Bank of England will only start to increase interest rates when a range of measures suggest the economy is operating at closer to full capacity, central bank governor Mark Carney said in an interview broadcast on Sunday.

Hopes pinned on private sector as Libya economy slumps

Tripoli (AFP) - Small businesses are prospering in Libya's major cities even as the economy at large is being throttled because of security problems and industrial action which has shrunk lifeline oil revenues.

Japan speeds up stimulus as tax hike looms

Japan said Friday it is moving to speed up the impact of a $50 billion stimulus package aimed at countering any slowdown from a looming sales tax hike.

Housebuilders boost UK construction sector output by 2%

Booming housebuilders pushed output across the construction sector up 2% in December last year, according to revised official figures, as rising house prices and cheap loan rates encouraged builders to expand the number of house starts.

Cold weather depresses retail sales in January

(Reuters) - Retail sales fell unexpectedly in January and the number of Americans filing new claims for unemployment benefits rose last week, in the latest signs of slowing economic growth early in the first quarter.

Euro zone industry stumbles in December, but recovery still seen on track

BRUSSELS (Reuters) - Euro zone industrial output fell more than expected in December, data showed on Wednesday, but probably not by enough to have stopped economic growth from picking up slightly in the last three months of the year.

Rouhani Seeks Economic Fix as Iran Commemorates Revolution

Iranian President Hassan Rouhani had foreign-policy successes to showcase when he spoke in Tehran’s Azadi Square today to mark the 35th anniversary of Iran’s Islamic revolution.

China Signals Volatility in Money Markets Will Persist

China’s central bank signaled that volatility in money-market interest rates will persist and borrowing costs will rise, underscoring the risk of defaults that could weigh on confidence and drag down growth.

Bank of England's method of setting interest rates needs reviewing

Mark Carney has some explaining to do on Wednesday. Last August, the governor of the Bank of England announced the arrival of a shiny new model for setting interest rates in the UK.

France to invest EUR 1 bn to update cyber defences

PARIS: France unveiled plans on Friday to bolster long-neglected defences against cyber attacks, with 1 billion euros ($1.36 billion) of investment foreseen to bring the country's technology up to speed with NATO partners.

Draghi comments at ECB news conference

Following are comments by ECB President Mario Draghi at a post-meeting news conference.

UK tax system is 'punishing success' says Institute for Fiscal Studies

Forcing Britain’s highest earners to foot a greater share of the nation’s tax bill is putting the Government’s long-term finances at risk, a leading economic think tank has warned.

Japan Real Wages Fall to Global Recession Low in Abe Risk

Japan’s base wages adjusted for inflation last year matched a 16-year low in 2009 when the world was gripped by recession, posing a risk to consumer spending as the nation girds for a higher consumption tax.

Ukraine on brink as turmoil hits currency

Ukraine is on the brink of economic disaster as its currency plunges to a four-year low amid political turmoil and a tug-of-war between Russia and the European Union.

Corruption across EU 'breathtaking' - EU Commission

The extent of corruption in Europe is "breathtaking" and it costs the EU economy at least 120bn euros (£99bn) annually, the European Commission says. EU Home Affairs Commissioner Cecilia Malmstroem has presented a full report on the problem.

Banks Could Still Face Tougher Capital Requirements to Prevent Crises

FRANKFURT — Ever since the end of the 2008 financial crisis, the world’s leaders have searched for ways to shore up the banking system.

Obama to tout economic security proposals Wednesday in Md., Pa.

Fresh off his State of the Union address, President Obama plans to discuss new ways to build economic security for the middle class and expand opportunity for all so that every American can get ahead.

Japan inflation rises at fastest pace in over five years

Japan's consumer prices have risen at their fastest pace in more than five years, marking more progress in the country's battle against deflation.

Vince Cable confronts Lloyds over staff cuts in commercial banking

Vince Cable is demanding an urgent meeting with the boss of Lloyds Banking Group after the bailed-out bank made deep cuts to the number of its small business experts.

Economy slowly exits the Great Recession

WASHINGTON — The U.S. economy is showing more strength than at any time since the Great Recession began six years ago. Employers are hiring.

European Union to meet Russian President, Vladimir Putin amid growing tension over pressing issues

BRUSSELS: Russian President Vladimir Putin and the European Union's top two officials were set to hold "clear the air" talks in Brussels on Tuesday after months of growing tension over Ukraine and trade and energy disputes.

Hollande’s Announcement of Split to Move Focus to Economy

Francois Hollande’s announcement that he has split from partner Valerie Trierweiler should end weeks of discussion about the French president’s private life and turn attention back to the economy, politicians said.

Obama set to announce 'practical' agenda focusing on immigration, income equality

President Obama is expected in his annual address Tuesday to detail what he calls “practical” proposals to advance the country in 2014, including ones to address "income inequality" and the nation’s immigration system.

At World Economic Forum, Kerry defends focus on Israeli security

DAVOS, Switzerland — Israel cannot make peace with the Palestinians so long as it fears that a free Palestine next door would be a base for terrorism or attacks on Israel, Secretary of State John F. Kerry said Friday, explaining why Israeli security concerns figure so prominently in his effort to forge a peace deal.

Economic recovery in Europe is not over, bosses say

Top leaders at the 2014 World Economic Forum in Davos have warned Europe is not fully out of recession.

South Korea’s Fourth-Quarter Expansion Matches Estimates

South Korea’s economic growth matched analysts’ estimates in the fourth quarter, as the central bank kept the benchmark interest rate at the lowest level since 2010.

China and UK trade at 'record high'

Bilateral trade between China and the United Kingdom hit a "record high" in 2013, according to the Chinese ambassador to the UK, Liu Xiaoming.

EU poised to suspend some sanctions on Iran

BRUSSELS: Sometime between breakfast and lunchtime Monday, a message will arrive in Belgium's capital that should set in motion an international diplomatic machine, affect billions of dollars blocked in banks and have repercussions from US college campuses to oil tankers on the seas.

IMF head Christine Lagarde warns of deflation risks

The head of the International Monetary Fund has warned about the risks to global economic recovery of deflation.

Davos 2014: Widening wealth gap 'biggest risk' in 2014

The increasing gap between rich and poor is seen as the biggest risk to global stability, according to a survey by the World Economic Forum (WEF). In its annual report it warned that income disparity is seen as the risk "most likely to to cause serious damage globally in the coming decade".

Carney Fight Against Higher Rates Helped by Inflation

Bank of England Governor Mark Carney has won respite in his battle to keep a lid on interest rates after inflation slowed to the 2 percent target for the first time in four years.

Fed banks split in December on what to do with discount rate

(Reuters) - One regional Federal Reserve bank continued to push for a cut in the U.S. central bank's emergency lending rate in December, while three others renewed a request to hike it, minutes of Fed deliberations released on Tuesday showed.

French economy 'still looking weak'

France's unemployment rate is stubbornly high, just below 11%, and economic growth is persistently weak.

Spain Refit Erodes China Edge as Business Lured Back Home

Almost 10 years ago, Priviet Sportive SL was losing business to Chinese suppliers. These days, the Spanish clothes designer is snatching orders back as falling wages at home let it produce garments at a lower cost.

Inflation, strangely low, holds key to 2014 US Federal Reserve policy

SAN FRANCISCO/NEW YORK: Stubbornly weak inflation is shaping up as the wild card for US monetary policy makers this year, with top Federal Reserve officials stumped by why it has lingered so low for so long and at odds as to what to do about it.

UK industrial output and construction data miss forecasts

New economic data has cast doubt over the strength of the UK's economic recovery, prompting warnings against an early rise in interest rates.

Some banks easing lending ahead of stress tests: ECB's Honohan

(Reuters) - Some euro zone banks are restricting lending to boost their performance in financial stress tests this year, a member of the European Central Bank's (ECB) governing council said on Friday.

Improving US jobs growth led to Federal Reserve taper

Federal Reserve members mostly agreed about a reduction in the central bank's stimulus efforts in December, meeting minutes released Wednesday reveal.

IMF Plans to Raise Global Economic Growth Forecast, Lagarde Says

The International Monetary Fund will raise its forecast for world growth, Managing Director Christine Lagarde said, underscoring confidence in the global recovery as the outlook for the U.S. improves.

UK economy set to strengthen this year, BCC says

The UK's economic recovery is set to gather momentum this year, according to the latest quarterly survey by the British Chambers of Commerce (BCC).

China's crackdown on risky lending raises economic growth fears

China's economic growth could drop below 7% this year after government documents revealed plans for a crackdown on risky lending.

Economies of Britain and France have more similarities than differences

As British crowing about last year's return to growth increasingly irks the struggling administration of François Hollande, it is worth remembering that London and Paris have more in common than they care to admit.

Fed could trim bond-buying more sharply in future: Plosser

(Reuters) - The Federal Reserve could well consider cutting its bond-buying by more than a $10 billion monthly increment in the future, Philadelphia Fed President Charles Plosser said on Saturday, floating $25 billion as a hypothetical amount.

Catalan president calls on EU leaders to support push for independence

(Reuters) - Catalonia's president has called on European Union prime ministers for support as the region seeks a vote on independence in November this year, the source of an increasingly bitter fight with Spain's central government.

UK manufacturing growth remains strong

The UK's manufacturing sector continued to see strong growth last month, according to a closely watched survey.

Euro Zone's Weak Recovery Poses Risks to Others

BERLIN—The euro zone's recovery from crisis looks stuck in low gear, posing risks to its struggling members and weighing on fragile global growth.

US consumer confidence rises on better job outlook

WASHINGTON: US consumer confidence jumped this month on a better outlook for hiring and growth, supporting other signs that show the economy could accelerate in 2014.