Leaving the EU would set Britain back 50 years, says Virgin's Branson

A British exit from the European Union would set the country back half a century and be catastrophic for its trade and economic prospects, billionaire entrepreneur Richard Branson said on Sunday.

Greece's Creditors Offer $17.3 Billion Package to End Standoff

Greece’s creditors offered to unlock aid of as much as 15.5 billion euros ($17.3 billion) for the indebted country, as Prime Minister Alexis Tsipras lamented the tough conditions demanded in return for the deal.

UAE expects strong economic growth

The United Arab Emirates expects strong growth this year after its oil-rich economy expanded by 4.6 percent in 2014, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said.

Lew Says Euro Exit Would Hurt Greek People, Economy

U.S. Treasury Secretary Jacob J. Lew said that a possible Greek exit from the euro would have a major impact on the country’s citizens and economy and that risks of potential consequences for other nations remains unclear.

Italy prosecutors target Bank of China in graft probe

Rome (AFP) - Italian prosecutors have asked for some 300 Chinese nationals and the Bank of China's Milan branch to be tried for money laundering and tax evasion.

ECB agrees to pump more cash into Greek banks

The European Central Bank has agreed to increase its emergency support for Greece's banking sector after fears of a Greek exit from the euro led to a run on the banks.

UK retail sales growth slowed in May

UK retail sales rose by 0.2% in May, a slowdown from a rise of 0.9% in April, after shoppers bought fewer clothes. The Office for National Statistics said clothing sales were 1.6% down on April's level, the biggest fall since September 2014.

Fed expected to open door to rate hike if economy improves

WASHINGTON (AP) -- The Federal Reserve is expected to signal Wednesday that it's getting closer to raising interest rates for the first time in nearly a decade while leaving the timing of that increase uncertain.

April house prices in sharpest slowdown since 2006

House price growth across the UK slowed at the fastest pace for nine years in April, according to official figures, as London prices weakened amid unfounded fears of a Labour election victory.

Yuan Taking on Dollar Set to Forge $16 Billion Panda Bond Market

Deutsche Bank AG sees China expanding its panda bond market to about 100 billion yuan ($16 billion) over five years, as President Xi Jinping promotes the yuan’s challenge to the dollar’s supremacy.

Fears of Greece eurozone exit mount as EU deadline looms

Fears that Greece could leave the eurozone continued to mount on Saturday, despite its finance minister saying that Europe would not allow that to happen.

Africa creates TFTA - Cape to Cairo free-trade zone

African leaders have agreed to create the continent's largest free-trade zone, covering 26 countries in an area from Cape Town to Cairo.

New Greek Budget Plan Falls Short of Last Week’s Pledge

Greece pulled back on budget concessions to its creditors in new proposals Tuesday, as German Finance Minister Wolfgang Schaeuble said it would be “daft” to accept blame for Prime Minister Alexis Tsipras’s predicament.

CBI cuts outlook for UK economic growth but backs continued austerity

Britain’s leading corporate lobby group has insisted the government should press ahead with its austerity drive, despite warnings that another round of deep cuts could dent the recovery.

Greece's Tsipras 'failed' to deliver promised plan - Juncker

Greek Prime Minister Alexis Tsipras failed to deliver alternative economic reforms that he had "promised", says European Commission president, Jean-Claude Juncker.

China shares breach 5,000 level first time since 2008

Shares in mainland China closed at a new seven-year high, with the Shanghai Composite breaching the key 5,000 level for the first time since 2008.

HSBC pays out £27.8m over money-laundering claims

HSBC has been ordered to pay a record 40m Swiss francs (£27.8m) and been given a final warning by the Geneva authorities for “organisational deficiencies” which allowed money laundering to take place in the bank’s Swiss subsidiary.

UK factories struggle to boost output

Worries about the unbalanced nature of Britain’s economic recovery intensified on Monday after news that UK factories struggled to crank up output in May amid flagging overseas demand.

Russia Sees More Pragmatic U.S. Ties After Ukraine Crisis

Russian Foreign Minister Sergei Lavrov said a “realistic approach is getting the upper hand” in relations with the U.S., amid the worst tensions since the Cold War.

U.S. Economy Contracted 0.7% in First Quarter

The United States economy got off to an even weaker start this year than first thought, the government reported Friday, as economic activity contracted because of a more dismal trade performance and continued caution by businesses and consumers alike.