ECB confronts more signs of weak growth

FRANKFURT, Germany (AP) -- The European Central Bank is facing more signs of weakness in the economy of the 18 countries that use the euro as it weighs whether to add more stimulus.

Turkish central bank makes massive rate hikes to stem lira fall

(Reuters) - Turkey's central bank hiked all its key interest rates in dramatic fashion at an emergency midnight policy meeting, ignoring opposition from Prime Minister Tayyip Erdogan as it battles to defend the country's crumbling lira currency.

UK economy grew 1.9% in 2013 – the fastest growth since 2007

The British economy grew at the strongest rate in six years in 2013, having ended the year on a strong note as the recovery became more entrenched.

Draghi Says Europe’s Recovery Firming With No Deflation in Sight

European Central Bank President Mario Draghi said he sees signs of a “dramatic” improvement in the health of the euro-area economy and that inflation will gradually return to target.

Emerging market chaos hits stock markets and currencies

A series of political scandals and accusations of mismanagement in some of the world's major developing economies triggered turmoil on international stock exchanges on Friday.

Argentina to ease foreign exchange controls after peso slump

Argentina is to relax its strict foreign exchange controls, a day after the peso suffered its steepest daily decline in 12 years.

U.S. economic activity gauge edges up in December

(Reuters) - A gauge of future U.S. economic activity rose modestly in December, suggesting a gradual strengthening in growth.

UK public sector borrowing falls to £12.1bn in December

UK government borrowing fell in December to £12.1bn, down £2.1bn from a year earlier, according to official figures.

EBRD cuts Turkey outlook, but sees improving euro zone steadying region

(Reuters) - The European Bank for Reconstruction and Development cut its economic growth projections for Turkey on Tuesday but otherwise barely trimmed its overall view for its regional emerging markets.

World powers, Iran to activate landmark nuclear deal after IAEA nod

VIENNA/BRUSSELS: Iran has halted its most sensitive nuclear activity under a ground-breaking deal with world powers, a confidential U.N. atomic agency report reviewed by Reuters on Monday showed, paving the way for the easing of some Western sanctions.

'Don't hollow out financial transactions tax', says EU tax chief

(Reuters) - The European Union's top tax official has called on member countries not to dilute proposals for a financial transactions tax in the euro zone, suggesting the bloc could instead implement the plan more gradually.

No reason for 'irrational inflationary fears' - ECB's Weidmann

(Reuters) - The president of Germany's Bundesbank said on Thursday there was no reason for "irrational inflationary fears" and dismissed suggestions of a danger of the euro zone falling into deflation, echoing the European Central Bank's outlook.

IMF warns Slovenia against complacency after fixing banks

LJUBLJANA: The International Monetary Fund (IMF) warned Slovenia on Friday against complacency after taking a first step towards fixing its banking system, urging it restructure the corporate and banking sectors.

Osborne wants above-inflation minimum wage rise

Chancellor George Osborne has said he wants to see an above-inflation increase in the minimum wage. He told the BBC the "economy can now afford" to raise the rate, currently set at £6.31 an hour for people over the age of 21.

Global recovery hopes shore up markets

LONDON (AP) — Japanese shares led markets higher on Wednesday as investor sentiment recovered amid hopes for the global economy.

Some banks easing lending ahead of stress tests: ECB's Honohan

(Reuters) - Some euro zone banks are restricting lending to boost their performance in financial stress tests this year, a member of the European Central Bank's (ECB) governing council said on Friday.

Japan’s Abe Pledges Funds to Help Mozambique Energy Sources Grow

Japanese Prime Minister Shinzo Abe pledged to invest 70 billion yen ($672 million) in development projects in Mozambique during the next five years as he seeks to secure natural gas supplies from southern Africa.

U.K. Industry Production Stagnates as Construction Falls

U.K. industrial and manufacturing production unexpectedly stagnated in November and construction fell the most in more than a year, indicating the economy may have struggled to build momentum in the fourth quarter.

US economy adds 74,000 jobs, rate falls to 6.7 per cent

WASHINGTON: US employers added a scant 74,000 jobs in December, the fewest in three years. The disappointing gain ends 2013 on a weak note and could raise questions about the economy's recent strength.

ECB toughens talk, holds off fresh action for now

(Reuters) - The European Central Bank on Thursday forcefully underlined its determination to take action should euro zone inflation risk turning into deflation or rising money market rates threaten the bloc's fragile recovery.

Loans to business getting cheaper and more readily available, Bank says

Hopes of an end to the prolonged fall in business lending were boosted on Wednesday when the Bank of England announced that loans were becoming cheaper and more readily available to the UK corporate sector.

US Senate confirms Yellen as Federal Reserve chair

Washington (AFP) - The US Senate confirmed Janet Yellen as the new leader of the Federal Reserve, marking the first time a woman has headed the world's most powerful central bank.

Financial risks recede in 2014

For the first time in five years, the big risk for the global economy is not a collapse of the financial system, according to a report by the Eurasia Group released Monday.

Top Fed officials zero in on next policy steps

(Reuters) - The U.S. Federal Reserve, having just reduced its bond-buying program, now appears deep in debate over the best way to unwind its extraordinary stimulus in the months and years ahead.

Osborne’s family business hit by the poor global economic climate

Osborne & Little, the luxury wallpaper and furnishings company majority-owned by the Chancellor’s family, has seen losses widen amid difficult market conditions.

Business lending slump deepens, as mortgage approvals hit fresh high

The slump in business lending has deepened, it has emerged, further sharpening the contrast with a surging mortgage market.

Turkey crisis sends lira to new low as investors spooked

Istanbul (AFP) - The Turkish lira touched a new low against the dollar and shares also slid on Thursday, under pressure from a corruption scandal roiling the government.

China to deepen reforms in 2014 to be rich and strong: Xi Jinping

BEIJING: China will make new strides in 2014 to deepen reforms to make the world's second largest economy rich and strong, President Xi Jinping vowed today.

ECB balance sheet shrinks by 2.1 billion euros in week to December 27

FRANKFURT: The balance sheet of the European Central Bank and the euro zone's 17 national central banks shrank by 2.132 billion euros to 2.285 trillion euros in the week ending December 27, the ECB said on Tuesday.