Economic recovery still years away?

WASHINGTON — The stagnant job growth that has plagued the American economy for more than three years is finally showing signs of easing, but it still could take years before the nation returns to the levels that preceded the economic collapse of 2008.

G20 chiefs: Europe needs a bigger financial firewall

NEW YORK (CNNMoney) -- European leaders have taken "substantial" steps to contain the eurozone debt crisis, but they need to build a stronger financial firewall to ensure the safety of the global economy, top finance officials said Sunday.

Tanzania economy may grow 7 pct in 2012/13: World Bank

DAR ES SALAAM (Reuters) - Tanzania's economy could rebound to 7 percent growth in 2012/13 if the global economy recovers, with gas revenues expected to boost domestic growth in the next decade, a World Bank official said on Friday.

Structural reforms needed even in recovery: OECD

Reuters) - The recent financial crisis and sluggish recovery around the globe have rightly helped spur governments to take on structural reforms such as in the labor, retirement and tax sectors to the benefit of many nations, the OECD said on Friday.

ECB's Draghi says euro zone recovering slowly

FRANKFURT (Reuters) - The euro zone economy is on the mend after a very weak end to 2011 and there have been more positive signs over the last two weeks, European Central Bank President Mario Draghi was quoted on Thursday as saying.

Surging gas prices threaten to derail economic recovery

The average cost for regular gasoline in California has climbed past $4 a gallon, with prospects for even higher prices ahead. The recent dramatic increases nationally and statewide could hurt consumers and, in turn, the broader economy.

US recovery real – but vulnerable

While the gains so far may be modest, evidence suggests the US recovery is gathering strength and could finally be on track to regaining its old form.

Economic Growth Called Priority for Philippines

Philippine Finance Secretary Cesar Purisima Saturday said he viewed encouraging economic growth a key policy priority for the country's government and central bank this year, saying there could be room for further interest rate cuts because of continuing economic uncertainty in Europe and the U.S.

Greek cabinet tackles austerity, rescue hopes rise

ATHENS: Greece's cabinet tackled on Saturday how to implement austerity demanded by the EU and IMF as a 130-billion-euro ($171-billion)rescue seemed within reach, while the euro zone considered modifying a deal with private creditors to help Athens reduce its huge debts.

Nicolas Sarkozy admits David Cameron was right to veto European treaty

Drawing a line under months of bitter clashes over the future of Europe, Mr Sarkozy said he might have done the same if his country was threatened in a similar way.

OECD sees German growth at 0.4% in 2012: Economic ministry

BERLIN: The Organisation for Economic Co-operation and Development (OECD) has predicted that Germany, Europe's top economy, will grow by 0.4 percent this year, the economy ministry in Berlin said on Tuesday.

Soros: Shale Gas and Oil Prompting Economic Recovery

Millionaire investor George Soros attributes part of his favorable economic outlook for the U.S. to the nation's shale resources, he said in a weekend TV interview.

Obama proposes $800 million in aid for "Arab Spring"

WASHINGTON (Reuters) - The White House announced plans on Monday to help "Arab Spring" countries swept by revolutions with more than $800 million in economic aid, while maintaining U.S. military aid to Egypt.

European Leaders ‘Confident’ Greece Meeting Bailout Demands

Feb. 13 (Bloomberg) -- Germany and the European Commission welcomed Greek approval of the austerity steps demanded for a financial lifeline, suggesting euro finance chiefs will pull Greece back from the brink when they meet in two days.

Retail sales key to U.S. economic recovery

WASHINGTON (MarketWatch) — If the U.S. economy is to continue to chug along, consumers will have to take the lead.

BHP mulls production cuts as prices fluctuate

Global mining giant BHP Billiton warned that it could scale back production at unprofitable operations as commodity prices softened due to economic uncertainty.

As Economy Slows, India Awakens to Need for Foreign Investment

NEW DELHI — When India’s finance minister, Pranab Mukherjee, flew to Chicago recently to address a group of American executives, it was to deliver an urgent message: India is still open for business.

ECB will particiapte in Greek debt writedown: report

PARIS: The European Central Bank will participate in a sharp writedown of Greece's debt currently under negotiation in Athens, the Wall Street Journal reported on Wednesday.

With job spurt, US economy races ahead of Europe

The latest surge in US job creation suggests the world's biggest economy is gathering momentum -- in contrast with the recession taking hold in parts of Europe.

Analysis: Euro zone strugglers lack innovative knack

LONDON (Reuters) - To get an idea of the economic mountain euro zone strugglers Greece and Portugal have to climb, consider this: per million inhabitants, they each filed fewer than eight applications with the European Patent Office in 2010.

Economy moving in right direction

Economists are more optimistic that the economy is gaining momentum, based not only on job growth but other positive reports.

Europe gets bond market respite, real economy pain

MADRID/FRANKFURT (Reuters) - Spain and France gained fresh relief at bond auctions on Thursday, extending a rally in euro zone government debt markets since the European Central Bank flooded banks with cheap money in December.

China Economy Heading for ‘Hard Landing’ as Exports Decline, Shilling Says

Feb. 2 (Bloomberg) -- China’s economy is headed for a “hard landing” this year as weaker demand overseas chokes off exports, said Gary Shilling, who correctly forecast the U.S. recession that began in December 2007.

Portugal Pulls Off Debt Auction, but Fears Remain

MADRID — Portugal easily sold a new batch of short-term debt Wednesday, lifting some of the gloom after a recent surge in its borrowing costs amid concerns that the country will have to follow Greece in seeking a new bailout.

Budget Treaty: Neither Panacea Nor Poison

BERLIN—As German Chancellor Angela Merkel sees it, Europe's new "fiscal compact" on budget discipline will turn the euro zone into a more-perfect currency union.