U.S. job openings hit record high; small businesses upbeat

U.S. job openings surged to a record high in April and small business confidence perked up in May, suggesting the economy was regaining speed after stumbling at the start of the year.

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.

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.

Cyprus approves first post-bailout budget

NICOSIA: The Cyprus parliament has approved the island's first post-bailout budget providing deep spending cuts in 2014 of about 10 per cent to ensure international bailout targets are met.

Portugal Holds Local Elections as Deeper Spending Cuts Approach

Portugal holds local elections on Sunday, two weeks before the government hands in a budget proposal for 2014 that will include new spending cuts.

France signals shift to tax cuts in boost to business

France's Socialist government is hinting it may appease discontent at tax rises by putting more stress on spending cuts in its fight to control the budget and boost growth.

UK voters want chancellor to act now to boost economy

The chancellor is content to let the economy recover at its own pace, without further intervention from the government, but voters want him to boost growth.

U.S. council warns of threat of cyber attacks, market runs

WASHINGTON (Reuters) - Regulators should guard against runs on the shadow banking system and watch out for cyber attacks on banks in coming months, the top U.S. financial stability group said on Thursday.

Fragile Portugal gets more time on bailout goals

LISBON (Reuters) - Portugal's lenders eased its budget goals on Friday and gave it more time to make unpopular spending cuts, acknowledging the country's compliance with its bailout program will not prevent its economy from slumping further.

Draghi: Reforms must continue despite social cost

FRANKFURT, Germany (AP) — European Central Bank President Mario Draghi has acknowledged that austerity measures and economic reforms can have heavy social costs — but argues they are the way to a fairer society because they can reduce injustices such as widespread youth unemployment.

EU leaders agree budget cut deal in Brussels

EU leaders have reached an agreement on the budget for 2014-20 after marathon talks in Brussels.

Analysis: Even brief spending cuts could hit U.S. economy hard

WASHINGTON (Reuters) - The U.S. economy could take a big hit from automatic government spending cuts even if Congress only leaves them in place for a month or two.

US economy grew at 3.1 per cent in July-September

WASHINGTON: The US economy grew at an annual rate of 3.1 percent over the July-September quarter as consumers spent more and state and local governments added to growth for the first time in nearly three years.

Markets firm despite ongoing US budget concerns

LONDON (AP) — Stock markets rose on Tuesday as investors hoped U.S. leaders would eventually thrash out a budget deal needed to keep a slew of tax increases and spending cuts from hitting the world's largest economy.

Australia lowers key interest rate to 3 percent

SYDNEY (AP) — Australia's central bank cut its benchmark interest rate by a quarter percentage point Tuesday, taking it to its lowest level since the global financial crisis, as slower growth in China, uncertainty over the U.S. outlook and stubbornly weak conditions in Europe undermine the Australian economy.

Public Anger Over Europe’s Budget, and Wine Cellar, Bubbles Before Talks

BRUSSELS — Amid wrangling over how much money the European Union spends at a time of grinding austerity across the Continent, Martin Ehrenhauser, an Austrian member of the European Parliament, lobbed a sobering question this summer at the union’s Brussels bureaucracy: How many bottles of booze does it have stocked in its wine cellars?

IMF suggests Europe should act to reduce Greece debt

WASHINGTON: The International Monetary Fund suggested Thursday that Europe should act to reduce Greece's debt, insisting the Fund itself was not prepared to contribute more to the country's bailout.

Greece prime minister says country must stay in euro to be "modern and credible"

Antonis Samaras, the prime minister of Greece, says the European Central Bank's decision to start buying eurozone bonds has proved the beleaguered country must stay in the euro.

Spain’s Plea for Fiscal Leniency Challenges Rules

ONLY months after they tightened the rules for the euro, Europeans are again confronting a question posed a decade ago: Is their rule book in fact a little stupid?