Asia's travel and tourism industry 'to face talent crisis'

Asia's travel and tourism sector is booming but will faces a severe shortage of skilled workers in the next 10 years, a top industry executive said Wednesday.

Rousseff says Brazil will recover, avoid credit downgrade

(Reuters) - Newly re-elected President Dilma Rousseff said on Tuesday that the Brazilian economy will recover in her second term and avoid a downgrade of its credit rating.

German business confidence falls again, Ifo says

German business confidence has fallen to its lowest level in almost two years, a survey suggests, raising concerns about the strength of Europe's largest economy.

African oligarchs splash out on London homes

A new wave of African oligarchs are following the trail blazed by Russian billionaires, buying up luxury properties in some of London’s most exclusive postcodes, according to new research.

China economic growth seen slowing well into next year, no rate cut seen: poll

(Reuters) - China's economy is likely to grow at its slowest pace in 24 years this year and will cool further in 2015, weighed down by a cooling property sector and factory overcapacity and as top leaders push structural reforms, a Reuters poll showed.

Merkel Hints That Euro-Area Nations May Have Room for Investment

German Chancellor Angela Merkel hinted she is ready to make a grand bargain with France and Italy by allowing them some leeway in meeting deficit-reduction targets in exchange for measures to make their economies more competitive.

APEC finance chiefs meet as global worries persist

The global economic recovery is beset by "downside risks", China's vice-premier told Asia-Pacific finance ministers Wednesday, a day after growth in the world's second-largest economy hit a five-year low.

South Africa economic growth forecast slashed

South Africa has downgraded its economic growth, but the country's new finance minister pledged to keep a tight rein on government spending.

Sales of U.S. Existing Homes Rise to One-Year High

Sales of previously owned homes climbed in September to the highest level in a year, pointing to growing confidence in the U.S. economy as employment firms.

Bank of England payment system crashes leaving homebuyers in limbo

The Bank of England apologised last night after a crucial payments system collapsed, forcing Mark Carney to launch an urgent investigation following the delay of hundreds of thousands of payments, including for homebuyers waiting for money to be transferred to pay for their new homes.

Japan ruling coalition ally seeks fresh stimulus to deal with weak yen

(Reuters) - The junior partner in Japanese Prime Minister Shinzo Abe's coalition government on Monday called for steps to stimulate an economy hit by April's sales tax rise and to soften the pain of rising costs caused by a weak yen.

Euro zone not heading for recession, says EU's Barroso

LONDON (Reuters) - The euro zone is not heading for another recession, the outgoing president of the European Commission Jose Manuel Barroso said on Sunday.

Bank of England chief economist ‘gloomier’ about UK prospects

The chances of an early rise in UK interest rates have fallen, says the Bank of England’s chief economist, Andrew Haldane, who admits he is “gloomier” about the prospects for the economy than he was a few months ago.

This is not another financial crisis

But now it's time to take a deep breath and relax. (And not look at your 401(k) balance.) We've been through this before. It's not the end of the world.

Inflation Approaches a 5-Year Low in China

BEIJING — Consumer inflation in China slowed more than expected in September, nearly to a five-year low, government data showed on Wednesday, pointing to broad weakness in the economy.

Three Fed banks pushed again for discount rate hike: minutes

(Reuters) - Three regional Federal Reserve banks in September pressed again for an increase in the Fed's emergency lending rate ahead of last month's Fed policy meeting, according to minutes released on Tuesday.

Richest 1% of people own nearly half of global wealth, says report

The richest 1% of the world’s population are getting wealthier, owning more than 48% of global wealth, according to a report published on Tuesday which warned growing inequality could be a trigger for recession.

Europe needs structural reform to boost growth: Australia's Hockey

(Reuters) - Europe needs to undertake structural reforms to boost growth and should not rely on further monetary easing by the European Central Bank, Australian treasurer Joe Hockey said on Monday.

China offers hint of growth prospects, Germany expects more bad news

(Reuters) - China's economy, the second largest in the world, gets a spot check this week with a barrage of data due that should indicate how successful Beijing has been in supporting growth.

Fed should reconsider 'considerable time' vow on rates: Fisher

(Reuters) - The Federal Reserve should rethink its forward guidance, potentially ditching its promise to keep interest rates near zero for a "considerable time" after it ends its bond-buying stimulus, a top Federal Reserve official said on Friday "I feel it is time to reconsider 'considerable time,'" Dallas Fed President Richard Fisher told reporters after a speech here.

France's credit outlook cut to negative by S&P

Credit rating agency Standard and Poor's has cut France's credit outlook to 'negative', due to concerns about the country's struggling economic recovery.

Draghi Policies Blunted in Berlin as German Protests Grow

Mario Draghi’s policy tools are being blunted in Berlin. The European Central Bank president has stopped short of large-scale sovereign-bond purchases as efforts to mollify Germany’s political elite do little to silence criticism of his ever-more expansionary measures.

Fed's Kocherlakota: 'inappropriate' to raise rates in 2015

(Reuters) - The Federal Reserve should keep interest rates near zero through at least the end of next year, a top U.S. central banker said on Tuesday, saying that inflation is simply too low to justify tighter monetary policy.

Booming UK housing market may need interest rate rises, IMF warns

The Bank of England will need to consider raising interest rates to rein in Britain’s housing market if controls designed to curb risky lending prove insufficient to see off the threat to financial stability, the International Monetary Fund (IMF) has said.

Greek budget promises higher growth, tax cuts

(Reuters) - Greece's government unveiled its 2015 budget on Monday, promising a second year of growth and tax breaks aimed at easing austerity imposed after the country sank into its deepest post-war economic crisis.

U.S. Economy, Stocks Can’t Escape the World’s Pain

The bulls have perpetrated a fantasy over the last few months. It went something like this: You can safely ignore the market declines on foreign bourses and the slowdown of economies in Asia, Europe and the emerging world because the American economy and U.S. stocks were an island of their own.

EMERGING MARKETS-Latam currencies sink on U.S. data; Brazil election eyed

SAO PAULO, Oct 3 (Reuters) - Latin American currencies weakened on Friday after strong U.S. jobs data was seen as increasing the likelihood of higher interest rates in the world's largest economy, while Brazil markets fluttered in the last trading session before Oct. 5 elections.

Euro zone business growth in September weakest this year: PMI

Oct 3 (Reuters) - Euro zone business grew at the slowest rate this year in September, reflecting falling demand in the region where new orders were the weakest in almost a year, surveys showed on Friday.

ECB to start asset buying programme

The European Central Bank has kept its benchmark interest rate at 0.05% and given details of its asset purchase programme announced last month.

Shadow banking system a growing risk to financial stability – IMF

Growth in the world’s $70tn (£43tn) shadow banking system is a risk to financial stability and monitoring of the sector is inadequate, the International Monetary Fund has warned.

UK economy bigger and growing faster than thought, says ONS

Britain’s economy was bigger and grew faster than previously thought over the second quarter, according to official figures that measure GDP in a new way.