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.

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.

US consumer spending up 0.2 percent in January

WASHINGTON (AP) — U.S. consumers increased spending modestly in January but cut back on major purchases that signal confidence in the economy.

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.

Obama administration warns of impact of broad budget cut

WASHINGTON: The Obama administration is painting a dire portrait of widespread flight delays, off-limit seashores, and unprotected parks among the many ways the public will feel the effects of automatic federal spending cuts due to begin March 1.

US fiscal cliff deal to slow growth: Economists

WASHINGTON: The political deal to pull the US away from the " fiscal cliff" will still hit economic growth and efforts to generate jobs, economists said Wednesday, but the country will avoid a feared recession.

Stocks Stir After Holiday

Stocks were slightly higher on Wall Street on Wednesday, ahead of the resumption of negotiations over the federal budget in Washington.

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.

US industrial production drops 0.4 percent

WASHINGTON (AP) — Superstorm Sandy depressed U.S. industrial output in October, the latest indication that the storm could temporarily slow the economy.