US economy shrinks a surprise 0.1% in fourth quarter

The US economy unexpectedly shrank at an annualised rate of 0.1% in the fourth quarter of 2012, initial official estimates indicate.

Euro zone lending falls for 8th month

FRANKFURT: Loans to companies and households in the euro zone contracted for the eighth month running in December, showing low official borrowing costs are having little success in reviving investment and spending.

Carney Says Flexible Central Banks Not ‘Maxed Out’ on Policy

Bank of Canada Governor Mark Carney said central banks have room to ease monetary policy further if needed and can be flexible in meeting inflation targets.

UK GDP: Economy shrank at end of 2012

The UK economy shrank by 0.3% in the last three months of 2012, further fuelling fears that the economy could re-enter recession.

Italy's crisis-hit Monte dei Paschi: half a millennium in banking

SIENA, Italy (Reuters) - When the Monte dei Paschi di Siena bank was founded in 1472, Michelangelo was not born, Columbus had still to discover America and Henry VIII of England had yet to split from the church of Rome.