Greek government gets more time to rescue economy

Early elections in Greece have been delayed to give the interim government more time to rescue the country's crisis-hit economy, but political uncertainty looks set to complicate delicate talks with creditors.

Britain's poorest hit by £2.5bn 'stealth tax'

Tax cuts for low and middle-income families in April will be dwarfed by hidden reductions in tax credits, according to a study for The Independent.

Global stocks mixed on concern about US, Europe

BEIJING (AP) — Global stock markets were mixed Tuesday amid worries about weak Christmas sales in the United States and Europe and a warning by Japan's central bank about possible risks from the European debt crisis.

Banks not lending? Corporate borrowing soars in 2011

Consumers may be cutting debt and banks may be tightening up their balance sheets, but borrowing by U.S. corporations is in full swing.At a time when the popular narrative centers on how tight-fisted banks are getting with their lending, end-of-year data for syndicated loans tell a different story.

Reversal of fortune

(Reuters) - While the threat of credit rating downgrades hangs over Europe, a few big emerging market economies are on the upswing.

Analysis: Russia's neighbors balk at Putin's "big idea"

MOSCOW (Reuters) - Vladimir Putin bills it as an economic union that could rival China and the United States, stretch from the Polish frontier to Pacific shores and reunite at least part of the Soviet Union.

Home foreclosures jump in third quarter

(Reuters) - The number of new home foreclosures jumped by more than 21 percent in the third quarter from the second as banks moved more aggressively after a pause to review how they deal with troubled borrowers, according to a report released by a bank regulator on Wednesday.

EU misses IMF loan target as UK says no

Britain’s refusal to contribute to the IMF for a eurozone bailout fund has left the EU short of its 200 billion euro target.

Getting to No: The Entirely Predictable Tax Stalemate

As the year careens to a close, a new chapter in dysfunction has opened in Washington. We noted that in the long-running game of "Deal or No Deal" between Democrats and Republicans over fiscal issues, the answer always seems to be "No Deal."

Uruguay Prodded by G-20 to End Bank Secrecy

As the rich flock to Punta del Este to visit their money over the long Christmas season known as la temporada, Uruguay faces diplomatic pressure from France and other G-20 nations to ease the strict bank secrecy that has earned the nation of 3.7 million the nickname "the Switzerland of South America."

Analysis: 2012 could prove even wilder ride than 2011

LONDON (Reuters) - The ancient Mayans attached special significance to 2012, possibly the end of time. That has spawned a rush of apocalyptic literature for the holiday season.

Budget wrangling trips up payroll-tax vote

WASHINGTON (MarketWatch) — A dispute between Senate leaders about funding the government past Friday delayed a quick vote on a House-passed bill to extend a payroll tax cut, raising the possibility of a government shutdown and leaving the tax cut’s fate in limbo.

Federal Reserve keeps monetary policy on ice

NEW YORK (CNNMoney) -- The Federal Reserve acknowledged the job market has improved slightly, but said the economy's immediate future remains on pins and needles.

With Britain a holdout, European nations see a path out of debt crisis

Working almost to exhaustion and persuading countries one by one, European leaders agreed Friday to redefine their continent _ hoping that by joining their fiscal fortunes they might stop a crippling debt crisis, save the euro currency and prevent worldwide economic chaos.

Europe Moves Ahead With Fiscal Union; UK Stands Isolated

Europe secured an historic agreement to draft a new treaty for deeper economic integration in the euro zone on Friday, but Britain, the region's third largest economy, refused to join the other 26 countries in a fiscal union and was isolated.

Draghi Courts Bundesbank in Bid to Avoid Trichet’s Fate on Bond Purchases

Mario Draghi knows he can’t afford to repeat Jean-Claude Trichet’s mistake.

Global Poll Predicts U.S. Economy Rebounding

The U.S. receives its highest rating from international investors in more than two years on new optimism that the world’s largest economy will weather the financial crisis in Europe and avoid a recession in 2012, according to a Bloomberg poll.

G-20 plans $600 bln IMF fund for Europe: Nikkei

SAN FRANCISCO (MarketWatch) -- The Group of 20 Finance Ministers and Central Bank Governors is planning a $600 billion fund for the International Monetary Fund to deal with the European debt crisis, according to Nikkei.com in a Thursday-dated online report.

Downing St insists there will be no EU referendum despite Iain Duncan Smith's demands

Downing Street has rejected Iain Duncan Smith’s suggestion of a European Union referendum, insisting the Government is under no obligation to hold a public vote on Franco-German moves to create a “fiscal union”.

Trade data to hint at U.S. economic difficulties

WASHINGTON (MarketWatch) — After a week of key employment and manufacturing-sector data, Wall Street can be forgiven for directing their focus away from the economic reports that come out of the Capitol this week and toward Europe ahead of key meetings there.

China Signals Reluctance to Rescue E.U.

HONG KONG — The Chinese government over the weekend sought to tamp down international expectations that Beijing might use its large financial reserves to help ease the European debt crisis.

Italians hope new government can save their nation

ROME – Even in a country where an inept, unstable and bickering government is nothing new, Italians say they are nervous about the future."What will be next if the Italian economy goes bankrupt?" asked Giacomo Levy, a 33-year-old psychologist. "It's something hard to imagine. People or business can go bankrupt. But the government?"

Markets still buoyed by euro rescue hopes

LONDON (AP) — Markets were boosted again on Tuesday by hopes that the 17 countries that use the euro will finally come up with a plan to deal with their crushing debt crisis, but the surprise announcement that American Airlines and its parent company are filing for bankruptcy protection checked the buying momentum.