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.