ECB's Mersch says sees no acute risk of deflation

BERLIN (Reuters) - The European Central Bank sees no acute risk of deflation, Executive Board Member Yves Mersch said in an interview broadcast on Sunday, but what it does see is a long period of low inflation ahead.

Bank of Thailand Hopeful for Economic Recovery

BANGKOK--Thailand's central bank is hopeful that the country's economy will return to normal in 2015 given the greater clarity in the political situation as a result of the May 22 coup.

Argentina debt repayment must be returned, says US judge

A US judge has ordered that a debt repayment made by Argentina to US bondholders be returned, calling the payment "an explosive action".

Czechs to Keep Currency Cap for Longer on Low Inflation

Czech policy makers kept their koruna ceiling in place for a fifth meeting and said they won’t scrap the limit on the currency’s gains before the second quarter of 2015 due to slower inflation (CZCPYOY) at home and abroad.

Yellen may be poised to rewrite Fed's rule book on wages, inflation

(Reuters) - Federal Reserve Chair Janet Yellen wants to see U.S. wages climb at a much brisker clip to boost consumer spending and help workers recoup ground they lost in the last recession, but she'll have to fend off policymakers who fear that could cause inflation to surge.

Eurozone recovery losing momentum, PMI survey suggests

Economic activity in the eurozone slowed in June to its weakest rate in six months, a survey has suggested.

London is not in a property bubble, says Zoopla boss

London is not in a property “bubble” and ought to be an even more expensive place to live, the boss of the property website group Zoopla has claimed.

Economic recovery slow to ease Nevada child poverty

The number of children living in poverty in Nevada climbed 8.4 percentage points during the economic downturn and remained slightly above the national average in 2012, according to a report released Wednesday.

Risks remain for Irish economic recovery, says IMF

Dublin (AFP) - Ireland faces significant challenges as it begins a tentative economic recovery, the International Monetary Fund said Wednesday in its first review since Dublin exited an international bailout programme in December.

Eurozone recovery not strong enough, says IMF

The recovery in the eurozone is not strong enough, according to the International Monetary Fund (IMF). That's the assessment IMF head Christine Lagarde is delivering to eurozone finance ministers at a meeting in Luxembourg.

Retail sales dip 0.5% in May

UK retail sales fell for the first time since January last month, despite strong sales of replica football shirts ahead of the World Cup, official figures have shown.

Iran economy remains in distress amid sanctions: U.S.'s Lew

(Reuters) - U.S. Treasury Secretary Jack Lew said Iran's economy remained in a state of distress due to sanctions over its nuclear programme and that the United States would not rush into making a bad deal to prevent Iran from obtaining a nuclear weapon.

Optimism about the 2014 economy is fading

When it comes to the U.S. economy, the glass just went from half full to half empty. At the start of the year, economists were optimistic.

New Jersey's economic recovery still wobbly

TRENTON, N.J. (AP) - The New Jersey economy has so far replaced just about 40 percent of the jobs it lost from the recession.

Dubai faces moment of truth over looming property bubble

(Reuters) - "Keep calm. There's no bubble", proclaimed a giant poster on a 40-storey building overlooking a Dubai highway, advertising a property finding portal late last year. That may have been true at the time, but the risks are rising.

OECD sees U.S. growth accelerating through 2015

(Reuters) - The U.S. economic recovery should accelerate in coming months as an energy boom, steadily falling unemployment and a rebound in investment push growth to its fastest pace in a decade, the Organization for Economic Cooperation and Development said on Friday.

Vince Cable: Housing boom 'needs stopping'

Action must be taken to stop the "housing boom" in parts of the UK getting "out of control", according to Business Secretary Vince Cable.

Banks are not getting much use out of U.S. stress tests: survey

(Reuters) - The U.S. Federal Reserve wants banks to get something out of their annual stress tests beyond just ticking the box of regulatory compliance, but few banks actually do, according to a survey to be released later this week.

British wages slowing again as consumers remain under pressure

Britain's "cost of living crisis" will return to the fore today when official data shows real wages falling again.

South Africa platinum strike talks break down again

Talks aimed at ending the long-running strike in South Africa's platinum sector have collapsed, after the government pulled out of its role as mediator.

Bank of England's McCafferty says rate hike decision now more balanced

(Reuters) - The case for the Bank of England to raise interest rates is becoming more balanced, though there is still scope for the economy to grow further before rates go up, BoE policymaker Ian McCafferty said on Monday.

Fed’s Powell: Forward Guidance on Rates Has Bolstered Economic Recovery

The Federal Reserve‘s effort in recent years to provide forward guidance on the likely path of interest rates has helped bolster the U.S. economic recovery, Fed Governor Jerome Powell said Friday.

S&P and ABN Amro suffer Australian legal defeat

Two financial institutions have lost an Australian court appeal against a decision that they "deceived" investors prior to the 2008 financial crisis.

U.S. jobs report seen underscoring economy's resilience

(Reuters) - U.S. employers likely maintained a solid pace of hiring in May, returning employment to its pre-recession level and offering confirmation the economy has snapped back from a winter slump.

Drag in euro zone recovery supports call for ECB action

BRUSSELS (Reuters) - A slowdown in the euro zone's economic recovery in the first quarter was confirmed on Wednesday, likely reinforcing calls for bold action by the European Central Bank this week to fight low inflation and high unemployment.

India services activity grows for first time in nearly a year

(Reuters) - Activity in India's huge services industry expanded for the first time in nearly a year in May, driven by a surge in new business, a survey showed on Wednesday.

UK average house price hits all-time high, according to Nationwide

House prices in the UK have broken through their previous peak and the average cost of a home is now higher than ever before, according to the latest monthly survey by the country's largest building society.

Czech Manufacturing Expansion Underpins Economic Rebound

Czech manufacturing expanded the most in more than three years in May, signaling economic recovery is gaining strength on the back of orders from at home and abroad.

Spain to launch 6.3bn euro stimulus package

Spain will unveil a new stimulus package worth 6.3bn euros (£5.1bn; $8.6bn) next week, Prime Minister Mariano Rajoy has announced.

U.S. consumer spending dips; inflation creeps up

(Reuters) - U.S. consumer spending fell for the first time in a year in April after two months of solid gains, but the decline is likely temporary given a strengthening jobs market.