British investors bet on Japan's recovery plan

(Reuters) - British investors threw their weight behind Japan's pro-growth economic recovery plan in May, raising their investments in Japanese stocks to the highest level in more than a year.

Germany sees 'revolution' if welfare model scrapped

PARIS: German Finance Minister Wolfgang Schaeuble warned on Tuesday that failure to win the battle against youth unemployment could tear Europe apart, while abandoning the continent's welfare model in favour of tougher U.S. standards would cause "revolution".

EU to close excessive deficit procedure against Italy on Wednesday: Media

MILAN: The European Commission will close on Wednesday a procedure against Italy started in 2009 when Rome breached the European Union's deficit ceiling of 3 per cent of gross domestic product, several Italian newspapers said quoting Commission documents.

IMF: Arab Spring Nations Face Delayed Economic Recovery

AMMAN — Arab spring countries face rising social tensions that could thwart an early economic recovery from over two years of political turmoil that has worsened fiscal pressures and threatens macroeconomic stability, a senior IMF official said on Saturday.

Economic recovery in NH steady but slow progress

CONCORD, N.H. (AP) -- With steady but slow growth, New Hampshire appears to have relinquished its traditional position as a regional leader in economic recovery, according to a report released Wednesday.

EU likely to remove Hungary from fiscal offenders list: Sources

BUDAPEST: The European Commission is very likely to propose that EU finance ministers remove Hungary from the bloc's list of fiscal offenders next month, web site Bruxinfo.hu reported on Friday, citing several unnamed sources.

Yet Another China Growth Downgrade

Another week, another downgrade as pessimism spreads about China’s economic prospects. This time it’s UBS Securities (UBS), which cut its 2013 forecast for gross domestic product expansion from 8 percent to 7.7 percent.

IMF calls for UK government to stimulate growth

The International Monetary Fund has called on the UK government to take more action to boost the economy, which it warns is "still a long way from a strong and sustainable recovery".

Shrinking US deficit reduces pressure for budget deal

WASHINGTON: The chances of a deal between Democratic and Republican lawmakers that would overhaul the US tax system, trim government spending and reform safety net spending programs appear to be fading.

U.K. Warns Independent Scotland Would Have High Risk in Bank Sector

LONDON—An independent Scotland would have an exceptionally large banking sector compared with the size of the rest of its economy, making it vulnerable to financial shocks and putting Scottish taxpayers at significant risk if the country is hit by another banking crisis, the U.K. Treasury said Sunday.

Japan's economic rebound a recipe for Europe?

PARIS: The recovery of the Japanese economy, just as a recession in Europe digs in, is renewing pressure on European policymakers to shift course from austerity to stimulus.

Barack Obama’s budget would cut $1 trillion from US deficit

WASHINGTON: President Barack Obama's budget proposal, if enacted into law, would cut more than $1.1 trillion from the government's projected deficits over the next 10 years, the nonpartisan Congressional Budget Office said Friday.

Japan economy grows again, points to recovery

TOKYO: Japan said on Thursday that its economy grew again in the quarter to March, pointing to a recovery as Tokyo and its hand-picked central bank team set about stoking the world's third-largest economy.

Eurozone recession continues into sixth quarter

The recession across the 17-nation eurozone has continued into a sixth quarter, figures show. The bloc's economy shrank by 0.2% between January and March, according to official figures.

Israel Inflation Rate Drops to 0.8%, Below Target

Israel’s inflation rate dropped to a six-year low in April, adding to the economic evidence that spurred policy makers to cut borrowing costs yesterday.

UK plunges down economic wellbeing league, while US remains top

The UK has plunged down an economic wellbeing league, falling from fifth place to 12th over six years, according to a new report that underlines the pressure on Britons' finances amid rising unemployment.

Risks to China recovery seen as factory output underwhelms

(Reuters) - China's factory output growth was surprisingly feeble in April and fixed-asset investment slowed, rekindling concerns that a nascent recovery is stalling and adding to pressure on policymakers to take action to stimulate the economy.

G7 says Japan playing by currency rules

AYLESBURY: Japan convinced its partners in the Group of Seven leading industrial economies Saturday that it was not manipulating its currency as part of a bold attempt to get its economy out of a near two-decade period of stagnation.

France Suffers ‘Adjustment Fatigue’ on Austerity, Moscovici Says

France’s Finance Minister Pierre Moscovici said that his country is suffering “adjustment fatigue” as he reiterated his government’s push for policies to spur growth and fight unemployment.

U.S. Posts Widest Monthly Surplus Since 2008 on Revenue

The U.S. posted its widest budget surplus in five years in April, swelled by stronger individual and corporate income-tax receipts.

Britain must be ready to 'walk away' from EU, says Boris Johnson

Boris Johnson has said Britain "must be prepared" to "walk away" from the European Union if David Cameron's efforts to strike a new deal with Brussels fail.

Slovenia seeks to avoid EU bailout

The government of Slovenia is due to unveil an economic action plan that it hopes will help it avoid an EU bailout. The plan, which will be presented to the European Commission, is expected to include tax increases, banking sector reforms and privatisations.

Spanish PM Mariano Rajoy balks at making deeper reforms

MADRID: After a year of radical reforms that made Spain more competitive but also exacerbated a deep recession, Prime Minister Mariano Rajoy has largely lost his appetite for aggressive and unpopular cuts to pensions or state bureaucracy.

Greece: IMF hails economic 'progress' but warns on tax evasion

Debt-laden Greece has made progress in improving its finances, but the country must do more to fight tax evasion, the International Monetary Fund has said.

Germany's Angela Merkel not to blame for austerity: EU's Jose Manuel Barroso

BERLIN: German Chancellor Angela Merkel is not to blame for the austerity policies being imposed elsewhere, the head of the European Commission was quoted on Sunday as saying, in an apparent attempt to mend fences with Berlin.

US job market showing gains, but healing is slow

WASHINGTON: The American economy and job market are moving in the right direction, just not very quickly.

France to relax austerity as recession bites

France has slipped back into recession and will need two more years to bring its budget deficit under control, the European Union said Friday, taking another step back from its austerity drive.

UK construction climbs back towards growth - PMI

LONDON: British construction output almost returned to growth in April, a survey showed on Thursday - the best performance in six months for a sector that has been the main brake on the country's economic growth.

Factories boost for recovery hopes

Britain's factories almost stabilised in April after months of contraction, sending the pound higher on hopes that the recovery is bedding in.

Pound Posts Monthly Advance Versus Dollar on Home Loans Gain

The pound posted its biggest monthly gain versus the dollar since October 2011 as a report showed British banks granted more loans for homes in March than analysts predicted, adding to signs the economy is improving.