British Economy Shrinks More Than Expected

LONDON — The British economy shrank more than previously expected in the fourth quarter of 2011, but some economists said that improving conditions in Europe could keep the country from falling back into a recession.

Global economy shows 'very fragile' improvement: IMF

BANGKOK: Recent improvements in the global economy are "very fragile" and an escalation of the eurozone crisis remains the most immediate concern, IMF deputy managing director Naoyuki Shinohara said Tuesday.

Merkel: Greek euro exit would be "catastrophic"

LONDON (Reuters) - Greece's exit from the euro would be a "catastrophic" political and economic mistake that would severely weaken Europe's single currency bloc, German Chancellor Angela Merkel said in a BBC interview broadcast on Monday.

Ben Bernanke warns jobs recovery may be 'out of sync' with economic picture

Federal Reserve chairman Ben Bernanke has warned that the recovery in the job market remained fragile – but said he believed cyclical, not structural, problems were to blame.

Euro Leaders Need to Step Up Austerity, Finland’s PM Says

European policy makers can’t rely on the central bank to manage the region’s crisis and must now follow with measures to cut debt and restore economic confidence, Finland’s Prime Minister Jyrki Katainen said.

Recovery program seeks to revamp local businesses

One committed Rhode Islander has been working for the past two years to help small businesses combat difficult economic times.

Economic recovery looks more certain: Japan govt

TOKYO: Japan's government maintained its assessment that the economy is slowly picking up in a report on Wednesday but saw a brighter outlook than a month ago due to encouraging signs in the global economy.

Europe faces 'long, hard road' to recovery, US treasury secretary says

Europe is only at the beginning of a "very tough, very long, hard road" to recovery and its future is still a threat to the US economy, Timothy Geithner, the treasury secretary, warned on Tuesday.

Inflation falls again as energy bills ease

Inflation continued to fall last month as lower energy bills eased the pressure on UK households, but economists warn high petrol prices and drought risks to food crops could soon see prices tick higher again.

Global economic growth to slow this year: IMF's Zhu

HONG KONG: Global economic growth will slow this year, though it is faring better with the United States looking much improved, the International Monetary Fund's deputy managing director Zhu Min said on Monday.

Greece recovers more of the 8bn euros of lost tax

Greece has collected almost 1bn euros ($1.3bn; £830m) in back taxes, still a fraction of the amount outstanding.

US, Britain agree to emergency oil stocks release, Reuters reports

LONDON — Britain has decided to cooperate with the United States in a bilateral agreement to release strategic oil stocks, two British sources said, in an effort to prevent high fuel prices derailing economic growth in an election year.

Broad trade deficit measure hits 3-year high

WASHINGTON – The U.S. current account deficit, which includes the trade balance of goods, services and investment flows, widened at the end of 2011 to the largest quarterly gap in three years.

Bailout can make Greek debt sustainable, but risks remain: EU/IMF

(Reuters) - Greece's second bailout package can make its debt sustainable, but Athens will have to stick firmly to agreed policies until 2030 and may need more money after 2014, an updated debt sustainability analysis by international lenders shows.

UK recovery has been weaker than in US, Germany, France and Canada

Britain has slipped behind Brazil in the global economic league table. The Bank of England has now kept the official cost of borrowing at 0.5% for three years and is part way through a third dose of electronic money creation.

Global liquidity peak spells trouble for late 2012

Data collected by Simon Ward at Henderson Global Investors shows that M1 money supply growth in the big G7 economies and leading E7 emerging powers buckled over the winter.

European Markets Extended Recent Recovery After Greek Situation Resolved

(RTTNews.com) - The European markets finished higher again on Friday, extending their recovery following Tuesday's sharp decline.

U.S. Trade Deficit Widens

The United States trade deficit surged to the widest imbalance in more than three years in January as imports hit an all-time high, the Commerce Department reported Friday, reflecting demand for foreign-made cars, computers and food products.

Don't tax pensions, George Osborne told

In a move that would be worth up to £1,000 a year each, the Office for Tax Simplification said that scrapping the levy should be considered because many pensioners considered it “unjust”.

Private sector adds 216,000 jobs in February

NEW YORK (CNNMoney) -- Hiring in the private sector picked up in February, according to a report released Wednesday by payroll processor ADP.

Australia aims for surplus despite economy slowing

CANBERRA, Australia (AP) — Australia's Treasurer said his government remains committed to returning the national budget to surplus next fiscal year despite the task becoming more difficult with slower than expected economic growth.

Hiring, key to U.S. recovery, on upswing

WASHINGTON (MarketWatch) — There’s a growing sense among economists that the U.S. recovery is gaining steam, a view heavily supported by a marked improvement in jobs data.

Canada's economy grows 2.5 percent in 2011

OTTAWA: Canada's economy grew 2.5 percent in 2011, down from 3.2 percent in the previous year, but it is much better than the economists' estimates a few months ago, and also slightly higher than the central bank's prediction in January, Statistics Canada announced.

Spain faces recession, growing unemployment in 2012

Spain's gross domestic product will shrink 1.7 percent this year and the jobless rate will climb to 24.3 percent, the government said Friday.

Bernanke: Economic recovery 'uneven'

NEW YORK (CNNMoney) -- In day two of Ben Bernanke's semi-annual testimony before Congress, the Federal Reserve Chairman warned lawmakers that their short-term policies could put the recovery at risk.

EU Leaders to Meet On Greece, Growth

BRUSSELS—European leaders and finance ministers will meet Thursday and Friday in Brussels to finalize the second Greek bailout package and discuss measures to promote long-term growth, but there will be no decision on boosting the euro-zone rescue fund, EU officials said.