Sandy: Damage estimated at up to $20bn

Businesses on the US East Coast have continued to be disrupted by storm Sandy, with total damage estimated at between $10bn and $20bn (£6bn-£12bn).

Eurozone crisis: Spain has no immediate need for help, says ECB's Ewald Nowotny

VIENNA: Spain has no immediate need of help from the European Central Bank's new bond-buying programme and should try to refinance itself before requesting aid, ECB policymaker Ewald Nowotny said.

9 more banks under scrutiny in Libor investigation

NEW YORK (CNNMoney) -- A state investigation into whether some of the world's biggest banks manipulated key global interest rates has widened to 16 institutions, according to a source familiar with the matter.

Treasury Real Yields Turn Positive as Inflation Slows

Treasury 10-year note yields exceeded the Federal Reserve’s preferred inflation gauge for the first time since 2011 as a report showed price increases slowed during the third quarter.

Dodd-Frank forces European banks to review U.S. deals

(Reuters) - Some European banks are ordering their brokers to rein in and even quit trading some derivatives with U.S.-based peers in a protest against tough new American rules.

Greece says wins more time from creditors but no deal confirmed

ATHENS: Greece's finance minister announced Wednesday he had agreed on a new austerity package with its international creditors and won more time to fix the debt-crippled nation's finances -- but the European Central Bank insisted there was no deal yet.

Spain sells debt despite regions, recession

MADRID (Reuters) - Spain sold more short-term debt than planned on Tuesday, with demand shored up by expectations the country will ask for aid after ratings for some of its most indebted regions were cut to 'junk'.

EU hopes for Greece bailout funds deal soon

BRUSSELS: The European Commission said Monday it hopes Greece and its international creditors will reach within days an agreement on extra measures Athens must take to get its next tranche of bailout funds.

Ukraine's economy nears post-election crunch time

MAKIYIVKA, Ukraine (Reuters) - Crumbling concrete pillars resemble ancient Greek temples, abandoned and overgrown, next to slag heaps that smell like piles of rotten eggs just a mile away from the center of the Ukrainian town of Makiyivka.

Egypt studying joint bourse trading with Turkey

CAIRO: Egypt's bourse is studying an alliance with the Istanbul Stock Exchange that would allow investors in the two countries to trade on each other's markets.

GDP figures to show Britain's double-dip recession is over

The double-dip recession will be officially declared over this week when the Office for National Statistics reveals that the economy grew by around 0.7pc in the months to September.

EU summit: France says bank deal helps eurozone fusion

The French president says a deal to start building a banking union on 1 January will enable the eurozone to speed up economic integration.

European Union leaders meet as Spain bailout looms

BRUSSELS: Spain edged closer on Wednesday to asking for bailout aid after months of hesitation on the eve of a summit where European Union leaders aim to strengthen the bloc's shaky foundations.

BoE's Tucker: Worst may still be ahead for banking

The "worst may still be ahead" for the banking system, the Bank of England's deputy governor has told a gathering of leading bankers.

UK pushing for curbs on ECB in banking union

(Reuters) - Britain and other European countries have deep concerns about a banking union in the euro zone, although there are signs of a compromise to limit the powers of the European Central Bank (ECB) in countries outside the euro, a UK minister told Reuters.

UK inflation expected to fall to lowest level in three years

Inflation is expected to have dropped to its lowest level for nearly three years in September, but there are fears the respite may only be brief as energy bills start to rise.

EU's Van Rompuy warns Cameron over sensitive budget issues

(Reuters) - The European Union's top official fleshed out his ideas for a separate budget for euro zone countries on Thursday, and indirectly warned British Prime Minister David Cameron about using the proposal for his own political gain.

Europe's outlook darkens as German growth fades

BERLIN (AP) — Europe's economic outlook darkened further Thursday when top economists slashed their growth forecasts for Germany and warned that public support for more financial aid to struggling countries was evaporating.

Global financial risks have increased, says IMF

Risks to global financial stability have increased in the past six months despite efforts by policymakers to make the financial system safer, according to the International Monetary Fund.

EU fin mins blocked on thorny banking union

LUXEMBOURG (AP) — Europe made little progress Tuesday in its efforts to secure the region's stricken financial system and ensure that failing banks never risk an entire country's economy again when finance ministers from the 27-country European Union failed to agree on how a single banking supervisor should be set up.

Euro zone launches $650 bn rescue fund as Greece, Spain struggle

LUXEMBOURG: The eurozone unlocked on Monday its 500-billion-euro crisis war chest, the European Stability Mechanism, amid worries over Greece and as Spain agonised over whether to call for a full bailout.

Greece to continue austerity talks with international lenders

ATHENS: Greece will continue talks with international lenders next week on new austerity measures for the debt-ridden country to clinch its next loan tranche, the finance minister said on Saturday, with both sides saying progress had been made.

Poor European states face clash over future aid funds

(Reuters) - Poor European Union states must fight hard to prevent richer members from cutting development aid for the rest of this decade or growth across the entire bloc could be undermined, the head of the EU executive said on Friday.

US Fed says low interest rates are likely until 2015

The Federal Reserve is likely to keep US interest rates at the current near-zero rate until 2015, minutes from its September rate-setting meeting have shown.

Spain says convinced will find investors for bad bank

LONDON (Reuters) - Spain's Economy Minister said on Thursday he was certain the country would find interest from the private sector for the 'bad bank' it is setting up to park billions of euros in soured real estate assets.

ECB seen keeping interest rates on hold

BRDO PRI KRANJU, Slovenia (Reuters) - The European Central Bank is expected to hold interest rates when it meets on Thursday to allow time for new details to emerge on the health of the euro zone economy and for Spain to ask for aid.

EU says banks should split risky trading from banking

A European Union advisory group says that Europe's banks should be split into separate legal entities, in order to protect ordinary retail banking from risky trading.

Europe focused on union rather than breaking up banks

BRUSSELS (Reuters) - Experts may recommend this week that European banks should separate retail banking from their riskier investment arms to make them safer and soften the impact of financial crises.

Energy fuels euro inflation but ECB rate cut still on

(Reuters) - Euro zone inflation accelerated in September as energy costs soared but core prices stayed low, likely leaving the European Central Bank on track to cut interest rates soon.