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.