ECB set to up the ante as eurozone fiscal compact cracks

FRANKFURT: The European Central Bank looks set to dig its heels in this week and refuse any more easy money for governments as the political resolve to rein in deficits shows signs of crumbling, analysts say.

Jobless claims remain elevated

NEW YORK (CNNMoney) -- First-time claims for unemployment benefits remained elevated for the third straight week, the government said Thursday, a sign that a job recovery might be stalling.

No respite seen for euro zone periphery woes: Poll

LONDON: Deeper recessions, spiralling unemployment and a failure to meet budget deficit targets will afflict the euro zone's most vulnerable economies floundering under austerity, a Reuters poll suggested on Thursday.

Gold stuck in range after Fed, equities curb losses

SINGAPORE (Reuters) - Gold held above $1,644 on Thursday after the U.S. Federal Reserve's meeting on interest rates offered few surprises, but gains in equities and expectations the central bank could do more if necessary to lift the economy may eventually spur buying from investors.

HSBC targets back office workers in 2,000 UK job cuts

Investment advisers and back office workers will be the main targets of 2,000 job cuts HSBC is to make in its British business as part of the bank’s efforts to reduce costs.

Euro-Zone's Private Sector Shrinking Fast

LONDON—The euro zone's private sector contracted in April at the sharpest pace since November, damaged by a steep decline in the manufacturing sector, suggesting the region won't rebound quickly from the recession recent data are pointing to.

Cyprus to make more cuts to meet deficit target

NICOSIA, Cyprus (AP) — Cyprus' finance minister said Monday that more austerity measures will be needed to meet a deficit target of 2.5 percent of gross domestic product this year.

ECB deaf to call for more action to help euro zone

WASHINGTON (Reuters) - European Central Bank officials showed no sign of bending to renewed international pressure to do more to boost the euro zone's struggling economy.

Europe's Rescue Plan Falters

Europe's bold program to defuse its financial crisis by injecting cash into the banking system is running out of steam.

IMF's Lagarde: Let EU Bailout Funds Go To Banks Without Sovereign Pit Stop

Keeping a country like Spain afloat financially may not be enough to salvage its banks without direct injections of capital, according to Christine Lagarde.

IMF warns against big bank deleveraging in Europe

WASHINGTON: Growing pressure on European banks to clean up their books could deeply impact economic growth in the eurozone, the International Monetary Fund warned Wednesday.

Japan to give the IMF $60bn in loans to help stability

Japan has agreed to give the International Monetary Fund (IMF) loans worth $60bn (£38bn).

Spanish minister calls on ECB to buy more bonds

Jaime Garcia-Lehaz, a deputy minister in Luis de Guindos's economy ministry, said on Friday: "They [the ECB] should step up the purchase of bonds" after the cost of insuring Spain's bonds against default surged to record levels.

Bernanke Says Promoting Financial Stability Is Key Fed Role

Federal Reserve Chairman Ben S. Bernanke said the central bank must increase its focus on maintaining financial stability in order to prevent a repeat of the crisis that triggered the worst recession since the 1930s.

Christine Lagarde says IMF needs less new funds than thought

WASHINGTON: International Monetary Fund chief Christine Lagarde said Wednesday that the Fund probably needs less new money for crisis intervention than the $500 billion earlier anticipated, crediting action by the eurozone for the change.

ECB may act to bring down Spanish borrowing costs

The European Central Bank may intervene to pull down Madrid's borrowing costs as prime minister Mariano Rajoy warned that debt had created a "vicious circle that strangles Spain".

How low can US jobless rate really fall?

NEW YORK/WASHINGTON: Gary Feeman has been searching for a job for 16 months. He's not ready to give up just yet, but the 60-year-old worries he is running out of options.

Brussels' austerity drive must be stopped if eurozone is to survive

Looking back over 2012, it was clear where it had all started to go wrong for the eurozone. Markets had rallied strongly in the first two months of the year following the decision by the European Central Bank in late 2011 to provide cheap three-year loans to commercial banks starved of credit.

SBI to look at rate cuts after RBI's credit policy

Country's largest lender State Bank of India (SBI) on Saturday said it will consider reducing lending rates after the announcement of the Reserve Bank's annual credit policy on April 17.

Why Spain’s now threatening to drag down Europe

Just when we thought the euro crisis had subsided for a bit, Spain is bursting back up as a trouble spot. On Wednesday, Prime Minister Mariano Rajoy said the country is “facing an economic situation of extreme difficulty.”

US Fed indicates smaller chance of more QE

Federal Reserve policymakers appear less keen to launch a fresh round of monetary stimulus as the US economy gradually improves, according to minutes for the central bank's March meeting.

Greek economy to slump 5% this year: IOBE

ATHENS: Greece's most influential think tank projected the economy would contract by 5 percent this year, taking a more pessimistic view than the European Commission and the IMF and casting a cloud over government efforts to meet fiscal targets.

RBS to pay £400m dividend to preference share holders

RBS is working on plans to “turn the tap back on” for a £350m-£400m dividend payment to preference shareholders as the bank addresses a clutch of hurdles in its quest to privatise the Government’s 82pc stake.

Eurozone boosts financial buffers to $1.1 trillion

COPENHAGEN, Denmark (AP) — The 17 countries that use the euro have boosted their emergency funding for heavily indebted countries to €800 billion ($1.1 trillion) — an amount that falls short of what the currency union's international partners had said is needed to calm financial markets.