China's underground banks spread pain as defaults rise

BEIJING (AP) — Fan Xiaolin, an engineer in Changsha in central China, thought he was safe when he deposited his family's savings of 800,000 yuan ($130,000) in a private finance company he said was recommended by employees of state-owned Bank of China.

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.

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.

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.

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.

Financial Industry Is Serious About Cybersecurity

The financial industry has been under a constant state of attack for the past year as hackers attempt to steal clients’ money, crash computer systems and disrupt capital markets.

US central bank keeps buying bonds to boost economy

The US Federal Reserve has kept its $85bn-a-month bond buying in place, in an effort to keep borrowing costs low and bolster the economy.

US adds 157,000 jobs in January but unemployment rate climbs to 7.9%

The US unemployment rate edged up to 7.9% in January as the number of new jobs came in below expectations, in a further indication of the fragility of the economic recovery.

Eurozone likely in recession as PMIs slump

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

Greek Workers Strike Against New Round of Austerity

ATHENS — Greek workers walked off the job on Tuesday to protest a new barrage of austerity measures being demanded by the country’s foreign creditors in exchange for a second bailout of $170 billion without which Greece faces a potentially catastrophic default within weeks.