Fed seen trimming bond buys, could offer vague rate clues

(Reuters) - The U.S. Federal Reserve on Wednesday looks certain to press forward with its plan to wind down its bond-buying stimulus, and could offer some vague clues on how much nearer it might be to finally raising interest rates.

Bank of England to unveil bonus clawback plan

The Bank of England is expected to unveil on Wednesday a plan which may see rule-breaking bankers return bonuses up to seven years after being awarded them, the BBC understands.

Consumer spending, inventories seen lifting U.S. second-quarter GDP

(Reuters) - U.S. economic growth likely rebounded in the second-quarter from a winter-induced slump at the start of the year and will probably continue to gather momentum through the rest of 2014.

China's bad loan ratio rises, adding to bank sector worries

(Reuters) - Chinese banks' bad loan ratio rose to 1.08 percent at the end of June from 1.04 percent in March, the banking regulator said on Friday, adding to concerns a slow economy and cooling property market could weigh on banks and brew up financial risks.

German consumer morale at highest level in more than 7.5 years

(Reuters) - German consumer morale rose to its highest level in more than 7-1/2 years heading into August as shoppers became more upbeat about their future income prospects than at any point since 1991, a survey showed on Friday.

Eurozone recovery picks up – except for France

The dip in fortunes that has spread across the eurozone since spring was reversed last month after businesses expanded output and order books swelled – with the exception of France, which is nearing its third recession since the banking crash.

George Osborne's deficit reduction plan under pressure as borrowing rises

George Osborne is on course to miss his goal of trimming Britain’s deficit this fiscal year after figures showed public borrowing climbed 7.3pc in the first quarter.

Hungary minister sees forex loans conversion at year end: TV

(Reuters) - Hungary's banks will have to convert foreign currency- denominated loans into forints most probably at the end of the financial year on Dec. 31-Jan. 1, the Hungarian economy minister told private channel HirTV late on Monday.

NABE survey points to rising U.S. wage pressures

(Reuters) - The share of U.S. companies raising wages more than doubled in the three months to July from a year ago, a survey showed on Monday, suggesting a faster pace of wage growth.

Greek banks can handle capital needs in ECB test: rescue fund CEO

(Reuters) - Any capital shortfalls that the European Central Bank finds this fall at Greece's four big banks will be manageable, the head of the country's bank bailout fund told Sunday's Kathimerini newspaper in an interview.

Current accounts are costly and confusing, says competition Watchdog as it launches enquiry into the big banks

Complicated overdraft charges make it almost impossible for bank customers to choose the cheapest or most appropriate account for them.As a result banks may not be bothering to compete with each other, leading to higher overdraft charges for all.

Christine Lagarde warns against stockmarket optimism

IMF head Christine Lagarde has warned that financial markets maybe a little too upbeat given the persistently high levels of unemployment and debt in European economies.

German recovery runs out of steam as sentiment falters

Frankfurt (AFP) - Europe's biggest economy German could already be running out of steam, data showed on Tuesday, and economists say the country's World Cup win is unlikely to provide any fresh momentum.

Bank of England governor warns of a bubble as UK house prices rise 10.5%

Rising house prices and high levels of household debt could tip the UK back into recession if left unchecked, the Bank of England governor has warned.

Fed's Yellen says U.S. recovery incomplete, defends loose policy

WASHINGTON (Reuters) - The U.S. economic recovery remains incomplete, with a still-ailing job market and stagnant wages justifying loose monetary policy for the foreseeable future, Federal Reserve Chair Janet Yellen told a Senate committee on Tuesday.

Bank of Scotland PMI report: recovery 'firmly embedded'

The recovery in the Scottish economy has become "firmly embedded", according to Bank of Scotland chief economist Donald MacRae.

Singapore’s GDP Decline Shows Manufacturing Constraint: Economy

Singapore’s economy unexpectedly contracted in the second quarter as higher labor costs and company moves to shift production overseas hurt manufacturing.

Euro zone industry stumbles in May, recovery still frail

BRUSSELS (Reuters) - Euro zone industrial production dropped sharply in May with only the energy sector thriving, another sign that the bloc's economic recovery remains fragile.

Fed closer to tightening policy than many think: Plosser

(Reuters) - A top U.S. central banker said on Friday the Federal Reserve may be "closer than a lot of people think" to raising interest rates given the firmer recent inflation and labor data.

UK house price inflation to outstrip pay rises 'for years to come'

Soaring house prices are likely to outstrip pay rises for at least the next five years ad possibly for decades to come, the government's official forecaster has warned.

China’s Exports Rise 7.2% as Imports Rebound From May’s Decline

China’s exports trailed estimates in June, suggesting support for growth from global demand will be limited as leaders try to defend their economic-expansion goal of about 7.5 percent this year.

Slow recovery leaves clouds over second quarter profits in Europe

LONDON, July 9 (Reuters) - The earnings outlook for European firms is on the mend, though a spate of profit warnings and some weak economic indicators mean the second-quarter reporting season is unlikely to give investors a decisive steer.

Australia business conditions at five-month high: survey

(Reuters) - A measure of Australian business conditions hit the highest in five months in June as a pick up in sales and profits helped firms stay confident in the wake of an unpopular federal budget.

Eurozone recovery to continue at moderate pace: think-tanks

FRANKFURT: The eurozone's economic recovery is set to continue at a moderate pace in the coming months, driven by domestic demand, three of Europe's leading economic institutes predicted on Friday.

Japan sees Ottawa trade talks as key to final stage by end-year

(Reuters) - Current trade talks in Ottawa between Japan, the United States and 10 other Pacific rim countries are key to advancing the planned Trans-Pacific Partnership (TPP) to its final stage by year-end, Japan's chief negotiator said on Saturday.

US economic recovery better than others in last 5 yrs: Obama

The US economic recovery after the recent global crisis is better than other countries, President Barack Obama said on Thursday with a latest report showing that America has seen the fastest job growth in the first half of the year, since 1999.

ECB's Coeure says only productivity growth will end low rates

(Reuters) - The only way to move from current low interest rates is to reinvigorate productivity in the euro zone, with states continuing reforms and budget consolidation, European Central Bank Executive Board member Benoit Coeure said on Thursday.

Global economy ends first half on a high: PMI

LONDON (Reuters) - The global economy ended the first half on a high as business activity picked up in June, with new orders pouring in at their fastest rate in over three years, a survey showed on Thursday.

London house prices soar 26 percent in a year, fastest pace since 1987

LONDON (Reuters) - London house prices soared 26 percent over the past year in the biggest annual jump since 1987 as the economic recovery and record-low interest rates stoked a boom in one of the world's most expensive property markets.

U.S. factory, auto sales data bolster growth outlook

(Reuters) - U.S. manufacturing activity rose at a steady clip in June and major automakers reported better-than-expected sales, pointing to momentum in the economy after a turbulent start to the year.

UK interest rates 'could return to 5% in long term'

Interest rates could rise to 5% in "the very long term", a senior Bank of England figure has said. Sir Charlie Bean, deputy governor for monetary policy, called it "reasonable" to think rates would return to pre-recession levels in 10 years or more.