Slow economic recovery to weigh on U.S. banks: Citi

(Reuters) - Citi Investment Research cut its price targets and second-quarter outlook on several U.S. banks including Bank of America Corp (BofA) and Goldman Sachs as slow economic recovery hurts trading.

Germany must step up to save eurozone, George Soros says

George Soros has criticised Germany's "can't do" attitude and said it will be to blame if it blocks plans to rescue the single currency.

Cameron suggests cutting housing benefit for under-25s

The prime minister has suggested that people under the age of 25 could lose the right to housing benefit, as part of moves to cut the welfare bill. Scrapping the benefit for that age group would save almost £2bn a year.

Obama, where is the recovery?

(CNN) -- Two years ago this week, the Obama administration hailed the advent of the "Summer of Economic Recovery."

Greece seeks to extend austerity measures deadline by two years

ATHENS: Greece wants tax cuts, extra help for the poor and unemployed, a freeze on public sector lay-offs and more time to cut its deficit under a plan likely to run into strong opposition at a European Union summit next week.

Booming Iceland makes second early loan repayment to IMF

Iceland, whose economy has recovered rapidly following the 2008 collapse of its banking sector, on Friday repaid $483.7 million in loans to the International Monetary Fund.

UK inflation rate drops to 2.8% in May, says ONS

The UK rate of inflation fell last month to a two-and-a-half year low owing to slowing fuel and food prices.

Draft: G-20 will produce plan for global growth

LOS CABOS, Mexico (AP) — The leaders of the world's largest economies will portray themselves as united behind efforts to boost growth and job creation in order to repair a global economy roiled by fears over the European financial crisis, according to a draft of the statement to be released Tuesday at the end of the Group of 20 annual meeting.

Markets rise after Greek pro-bailout party win‎

LONDON - Investors have pushed stock markets in Europe and Asia higher after pro-bailout parties won enough votes in Greece's parliament elections to form a government.

Spain PM Rajoy says further reforms needed

Spanish Prime Minister Mariano Rajoy has said further action is needed to make the economy "more flexible and competitive" after the International Monetary Fund called for wider reforms.

Weak factories, sentiment show shaky U.S. recovery

WASHINGTON (Reuters) - Factory output contracted in May for the second time in three months and families took a dimmer view of their economic prospects in early June, signs that the economy's recovery is on shaky ground.

Eurozone industrial production falls in April

Output from eurozone factories fell by 0.8% in April, according to the latest official figures from EU body Eurostat.

India assures US of economic vigor

India insisted that its economy would regain vigor and satisfy foreign investors as it fended off US accusations of a worsening business climate ahead of high-level talks.

Fed report: Economic crisis set back median family net worth two decades

WASHINGTON — The recent economic crisis left the median U.S. family in 2010 with no more wealth than in the early 1990s, erasing almost two decades of accumulated prosperity, the Federal Reserve said Monday.

Surprise drop in UK manufacturing raises risk of longer recession

British manufacturing output posted a surprise fall in April, raising the risk of a longer recession and piling pressure on the Government to take action to boost growth.

Investors see Spain rescue as only 'temporary fix'

NEW YORK: Investors aren't sold on a rescue of Spanish banks.

Osborne: Euro zone crisis "killing" UK recovery: report

LONDON (Reuters) - The euro zone debt crisis is "killing off" Britain's fragile economic recovery and European leaders are close to the "moment of truth" after more than two years of uncertainty, British finance minister George Osborne wrote in a newspaper article.

A 12-Step Program for India’s Economic Recovery?

Indian industry leaders gathered on June 4 in New Delhi to unveil their solution to India’s unfolding fiscal crisis: a 12-step program to economic recovery.

Fed's Rosengren warns on growing economic risks

(Reuters) - Risks to the world's economic and financial outlook are growing again and affecting the behavior of households and businesses, a top U.S. Federal Reserve official said on Thursday.

'Remarkable' Australian economy steams ahead

Australia Wednesday hailed as "remarkable" the 1.3 percent growth in its mining-driven economy in the first three months of 2012, as consumer spending rallied and business investment boomed.

Ireland's recovery is still green

After the "Yes" vote on the European Union's fiscal pact and backed by some encouraging signals in the economy, Ireland is fast becoming Europe's austerity poster pin-up.

Spain seeks direct EU bank aid, Germany resists‎

BERLIN, GERMANY - Spain is pressing for direct European financial aid to rescue its debt-ridden banks, but Germany is holding steadfast against such assistance without imposing new spending conditions on the Madrid government.

Economy is Slowing, Obama Can't Help, at Least Before November

President Obama’s economic recovery is caught in a tractor beam. He has long since abandoned major efforts to accelerate growth and job creation through government stimulus; now, there’s no way he could get them in time to dent the unemployment rate before November, even if he wanted to.

Slowdown worsens as China cools, Europe sinks

LONDON/SINGAPORE: Some of the world's major economies are faltering or shrinking, with Chinese factory output barely growing and powerful European manufacturing countries falling deeper into malaise, surveys showed on Friday.

Polish economy grew at lower pace of 3.5 percent

WARSAW, Poland (AP) — Poland's economy grew 3.5 percent year-on-year in the first quarter, a slowdown compared with last year but still one of the strongest rates in the European Union, according to government data released Thursday.

Swiss economic growth accelerates despite euro zone crisis

ZURICH: The Swiss economy grew more than expected in the first three months of the year thanks to strong private and public consumption, even as exporters tussled with a stubbornly strong franc and crisis in the euro zone.