Consumers face 'lost decade' as spending squeeze bites

British consumers face another three years of squeezed spending, an influential report suggests, amounting to a "lost decade" for households.

German economy minister: 2014 GDP growth could be less than forecast

(Reuters) - Germany could grow less in 2014 than the 1.8 percent forecast by the government early this year, Economy Minister Sigmar Gabriel said in an interview published on Sunday, although he added the country was still in good shape compared to euro zone peers.

Banks could face record fines totalling £1.8bn over currency rigging

Six major banks caught up in the investigation into rigging the currency markets are being pressed by the regulator to agree to fines – possibly of as much as £1.8bn – in the next eight weeks.

Fed's Lockhart says weak demand puts rate hike timetable in doubt

(Reuters) - Atlanta Federal Reserve bank president Dennis Lockhart said the U.S. economy is still hampered by weak demand at home and internationally, potentially pushing the need to raise interest rates later into next year.

China steel demand shrinks for first time in 14 years as slowdown stings

DALIAN China (Reuters) - China's steel consumption dropped this year for the first time since at least 2000 due to slower economic growth, leading to a surplus of iron ore in the country and a more than 40 percent plunge in prices of the steelmaking raw material.

German business confidence falls further, Ifo survey finds

Europe's largest economy has shown further signs of fragility, as a key indicator of German business confidence fell for a fifth successive month.

ECB's Visco says disinflation weighing on high-debt countries

(Reuters) - The euro area may struggle to recover from the economic crisis with entrenched high unemployment and weak investment hitting heavily indebted countries already suffering from disinflation, ECB Governing Council member Ignazio Visco said on Tuesday.

Ed Balls proposes spending watchdog role in vetting expenditure plans

Ed Balls has sought to reassure voters that Labour can be trusted with public finances by announcing plans to allow the Office for Budget Responsibility (OBR) to check future governments’ spending commitments are affordable.

With Eye on Market Stability, Fischer Carves Out Fed Role

Investors are becoming complacent about risks in financial markets as loose monetary policy spurs a search for yield, the Financial Stability Board said today.

ESM's chief says EU, IMF in no mood for a Greek debt haircut

(Reuters) - Greece's international creditors have no appetite for considering a haircut as a way to lighten its debt load, the head of the European Stability Mechanism, the euro zone's bailout fund organization, told Greek Sunday newspaper Realnews.

Investors Complacent About Financial Market Risks, FSB Says

Investors are becoming complacent about risks in financial markets as loose monetary policy spurs a search for yield, the Financial Stability Board said today.

Wall Street sees holes in Fed's new policy-tightening plan

(Reuters) - No sooner did the Federal Reserve reveal its plan for eventually tightening U.S. monetary policy than many on Wall Street flagged problems with the mechanics of the strategy, and said more adjustments would have to come.

UK jobless rate falls to lowest level since 2008

The unemployment rate fell to 6.2% over the three months to the end of July, its lowest level since 2008, official figures show.

OECD slashes growth forecasts, urges aggressive ECB action

(Reuters) - The OECD slashed its growth forecasts for major developed economies on Monday, urging much more aggressive ECB stimulus to ward off the risk of deflation in a subdued euro zone.

Russia to create anti-crisis fund to aid sanctions-hit companies

(Reuters) - Russia will create a multi-billion dollar anti-crisis fund in 2015 of money destined for the Pension Fund and some left over in this year's budget to help companies hit by sanctions, Finance Minister Anton Siluanov was quoted as saying on Monday.

Federal Reserve creates financial stability committee

WASHINGTON--The Federal Reserve is elevating its postcrisis efforts to monitor potential threats to financial stability, creating a high-level committee led by the central bank’s No. 2 official.

Argentina enacts law restructuring government debt

Argentina's Congress has approved legislation to restructure the country's debt and sidestep a US court ruling that recently pushed the government into its second default in 13 years.

BOJ chief tells Abe ready to take steps if price goal in doubt

(Reuters) - Bank of Japan Governor Haruhiko Kuroda told Prime Minister Shinzo Abe he is prepared to take whatever steps needed to achieve the central bank's 2 percent inflation target if it comes under threat.

Carney: massive shortfall in currency reserves for independent Scotland

Mark Carney was dragged further into the debate about the currency implications for an independent Scotland on Wednesday, telling MPs that in the event of a yes vote Scotland would need to amass billions of pounds of currency in reserves if it uses sterling without a formal agreement with Westminster.

Swiss Rate-Setter Search Is Chance to Catch Up on Diversity

The Swiss National Bank has just gained the chance to end the century-long male dominance of its governing board.

Stronger euro justifies easier monetary policy: ECB's Coeure

(Reuters) - A stronger euro is justification for an easier monetary policy, European Central Bank executive board member Benoit Coeure said in an interview with the Robert Schuman Foundation think tank.

China's export numbers beat forecasts for August

China's latest export numbers rose by 9.4% in August from a year earlier, beating forecasts of about 8% growth.

Scottish independence: pound could drop 10% in value

Scottish independence is expected to knock up to 10% off the value of sterling, taking it back to levels last seen when Britain was in recession.

Draghi's ECB surprise puts off bigger quantitative easing for now

(Reuters) - The European Central Bank's surprise interest rate cut and new schemes to bolster lending have allowed its president to swerve a thorny debate over full-scale money printing in the hope that such a move may never be needed.

Fed's Powell says alternative to Libor needed as soon as practical

(Reuters) - The U.S. Federal Reserve will accelerate its search for a substitute to the Libor benchmark interest rate to stave off what would be "a horrible mess" if the current system collapses with no alternative, Fed Governor Jerome Powell said on Thursday.

German industry orders weather Ukraine crisis in July rebound

BERLIN, Sept 4 (Reuters) - German industrial orders rose at their strongest rate in more than a year in July, raising hopes that Europe's biggest economy may yet weather the crisis in Ukraine and bounce back after a tricky second quarter.

UK recovery stronger than thought, official data shows

The Office for National Statistics has revised up its estimates for UK Gross Domestic Product during and after the recession.

Factory activity in Europe, Asia cools; demand lull a concern

(Reuters) - Factory activity in Europe and Asia cooled in August after a strong July, as new orders dwindled in the face of escalating tensions in Ukraine and a patchy recovery in China, purchasing managers indexes showed.

UK companies remain confident about economic outlook

Growth in UK manufacturing has eased back to more moderate levels, but companies remain confident about the economic outlook, according to a new study.

France's economics ills worsen but all remedies appear unpalatable

Emmanuel Macron had been in his new job less than 48 hours when he dropped his bombshell. Picked by François Hollande to be economy minister after a row over austerity prompted a reshuffle, the young investment banker suggested that France could consider an end to its hallowed 35-hour week.