Germany's Merkel says wants debt redemption at federal level

(Reuters) - German Chancellor Angela Merkel said on Friday that she was in favor of debt redemption at a federal level after the state of Saxony managed to pay back some of its debts.

US economic growth revised upwards

The US economy grew at an annual rate of 4.2% in the second quarter of the year, according to revised figures from the US Department of Commerce.

George Osborne will miss UK export target, BCC warns

George Osborne will miss his target of doubling UK exports to £1tn by 2020 because the government has failed to take the radical action needed, a leading business lobby group has said.

Russia approves $6.6bn for sanctions-hit state banks

Moscow (AFP) - The Russian government has approved injecting 239 billion rubles ($6.6 billion, 5 billion euros) into two of the country's largest, state-controlled banks that have been hit with Western sanctions.

French borrowing costs fall to record low despite crisis

Paris (AFP) - Borrowing costs for France fell to a record low level early on Monday despite the resignation of the government, which plunged the country into a political crisis on top of depressed economic activity.

Olive oil prices set to rise sharply after Andalusia drought

Hold the bruschetta: olive oil prices are expected to rise sharply after a prolonged drought in the world's biggest producing region in southern Spain, at the same time as a blight has hit the crop in Puglia, Italy's main olive-growing area.

Canada’s Dollar Approaches Four-Month Low as Inflation Slows

The Canadian dollar traded at an almost four-month low after a government report showed the inflation rate slowed for the first time in five months in July.

Spain to wait for stress tests before more Bankia stake sales

(Reuters) - Spain will hold off on selling more of its controlling stake in lender Bankia until the results of Europe-wide bank stress tests in October, Economy Minister Luis de Guindos said in an interview published on Sunday.

Fed in 'real debate' on rate hike in early to mid-2015: Lockhart

(Reuters) - The U.S. Federal Reserve is focused on an initial interest rate hike between the first quarter and the middle of next year, with possible changes in its main policy statement as soon as next month, Atlanta Fed President Dennis Lockhart said on Saturday.

Eurozone Recovery Fragile as Russian Sanctions Hurt Trade

The eurozone's fragile economic recovery took another blow as private business growth slowed more than expected in August on worse than expected data from Germany and France.

China, Japan August factory surveys signal economic softness

(Reuters) - China's manufacturing activity hit a three-month low in August, raising the case for fresh policy steps to keep growth on track, while a Reuters poll showed Japan's economic recovery is likely to be modest despite a small acceleration in the factory sector.

Government posts surprise deficit in July after borrowing £239m

The chancellor, George Osborne, faces a battle to hit this year's borrowing target after the government posted a surprise deficit in the public finances in July.

Fed debates merits of earlier rate hike given U.S. jobs gains

(Reuters) - The U.S. Federal Reserve hinted on Wednesday that a surprisingly strong jobs market recovery could lead it to raise interest rates earlier than it had been anticipating.

Putin factor snuffs out European growth

First Japan, now Europe -- bad news for the world economy is piling up. Eurozone growth evaporated in the second quarter, as Russian meddling in Ukraine helped send the German economy into reverse and France stagnated.

Dudley cites risks in wholesale funding markets, urges changes

(Reuters) - The short-term U.S. wholesale funding market remains vulnerable to runs and other crisis-era risks and must be made more stable, an influential Federal Reserve official said on Wednesday.

Weak China July money data cast doubts on recovery

The amount of money flowing into China's economy slowed to the lowest level in nearly six years in July, adding to fears that a sustained recovery may be at risk in the second half of the year despite government efforts to shore up growth.

Gold-Oil Ratio Rises to Highest Since March on Economy

Gold is trading at the highest price relative to crude oil in more than four months amid global economic concerns.

Full economic recovery 'will not solve youth unemployment'

Centre-left think tank the Institute for Public Policy Research (IPPR) says that a full-blown economic recovery will not resolve the UK's youth unemployment problem.

BOJ warns of sluggish export recovery

TOKYO (Reuters) - Sluggish Asian demand and a shift in Japanese production overseas will continue to weigh on exports, the Bank of Japan said, underscoring its waning conviction that overseas shipments will soon pick up and support a fragile economic recovery.

How sound is Germany's economy? Ask its troubled neighbours

Growth figures for the eurozone are out on Thursday and the signs are not good. Data already released show that industrial output was down in the single currency's "big three" – Germany, France and Italy – during the second quarter as the recovery that began in the middle of 2013 petered out.

Bank of America nears $16 billion record settlement with US regulators

Bank of America is closing in on a deal to pay the biggest US banking settlement in history, in a move that could serve as a riposte to European complaints that American watchdogs are unduly targeting their banks.

BOJ to stick to optimistic economic view, debate weak exports

(Reuters) - The Bank of Japan is set to continue its massive asset purchases and retain its rosy view on the outlook on Friday despite a series of weak data, underscoring its conviction that the world's third biggest economy can withstand the pain from a tax hike without further stimulus.

Average house prices in London jump 19% in a year

Average house prices in London have jumped 19% in a year, with the typical cost of a property in one borough set to pass the £2m mark for the first time within weeks, according to new data.

ECB says Ukraine crisis threatens EU recovery, keeps rates low

(Reuters) - The Ukraine crisis has heightened risks to the euro zone's weak and uneven economic recovery, and a tit-for-tat sanctions war could compound the problem, the European Central Bank said on Thursday as it held borrowing rates at record low levels.

Canada-EU free trade deal may pave way for US agreement

Canada and the European Union have agreed the final text for a free trade agreement that could provide a blueprint for a US-EU trade deal.

Housebuilding boosts UK construction sector in July

UK housebuilding grew at its fastest rate in nearly 11 years in July, a survey suggests.

'If you want a strong pound, it has to be for the right reasons'

The current strong pound is starting to bite into the profits of corporate Britain. Aircraft-engine maker Rolls-Royce, defence group BAE Systems, and contract caterer Compass were among the heavyweights who lined up last week to say that adverse currency movements were wiping millions off their balance sheets.

China Services Index Drops to Six-Month Low on Property

A Chinese services-industry index declined to a six-month low in July, dragged down by a weaker property market.

U.S. job growth cools, unemployment rate rises

(Reuters) - U.S. job growth slowed a bit in July and the unemployment rate unexpectedly rose, pointing to slack in the labor market that could give the Federal Reserve room to keep interest rates low for a while.

PMI figures show UK manufacturing growth slowing amid fears for exports

Growth in Britain's factories was the slowest in a year in July amid mounting fears that tension between Russia and the west might start to weigh on manufacturing exports.

Spain's economy grows at fastest quarterly rate since 2007

The Spanish economy grew at its fastest pace over the last three months since the end of 2007, according to Spain's statistics office.