Insurers under pressure as City regulator targets sector

Insurers took a hit as the City regulator fixed its sight on the sector, wiping more than £3 billion off the value of Britain's biggest insurance names.

Amid ruins of Greek economy, green shoots emerge

(Reuters) - On a cold day in January, car dealer Dimitris Antonopoulos handed over the keys of a brand new, white Jaguar worth 122,000 euros ($167,600), the first one sold in Greece in more than a year amid signs that a brutal recession might be easing.

UK current account deficit near record high at £22.4bn

The UK's current account deficit was larger than expected in the final quarter of last year, official figures have shown.

Bank of America to pay Fannie Mae and Freddie Mac

Bank of America agreed to pay $9.5bn (£5.7bn) to settle charges it misled US mortgage lenders Fannie Mae and Freddie Mac before the housing crisis in 2008.

Rajoy Wavering Brings Italian Risks to Spain: Euro

Prime Minister Mariano Rajoy is running out of time to make good on his pledge to complete an overhaul of Spain’s economy.

Odds narrow on China stimulus as Q1 economy seen weakest in five years

(Reuters) - The odds of Beijing intervening to support the sluggish Chinese economy are narrowing following a slew of data that points to the weakest growth for China since the global financial crisis.

Russia warns of investor flight

Russia expects investors to move up to $70bn (£42bn) of assets out of the country in the first three months of this year.

Greek central banker defends stress test results: paper

(Reuters) - An "unduly conservative" approach in stress tests on Greece's major banks would have scared off investors, the head of Greece's central bank said on Saturday, adding that he believed the results would be close to EU-wide tests due later this year.

U.S. Keeps AAA by Fitch, Outlook Raised on Debt Pact

The dire economic and political landscape cited by Standard & Poor’s when it downgraded the U.S.’s AAA credit rating in 2011 is proving to be unfounded.

Fed's Kocherlakota blasts new rate guidance

(Reuters) - The Federal Reserve should have promised to keep rates near zero until U.S. unemployment falls below 5.5 percent, as long as inflation and financial stability risks are contained, said the lone dissenter to the Fed's policy decision this week.

Most European Stocks Drop on Yellen’s Rate Remarks

Most European stocks declined as investors weighed Federal Reserve Chair Janet Yellen’s remark that benchmark interest rates could rise about six months after the central bank ends bond purchases.

US consumer price growth remains weak

US consumer prices were little changed in February, indicating that inflation continues to remain tame. The consumer price index rose 0.1%, from a month earlier.

Bank of England announces major reorganisation

Two new deputy governors have been named at the Bank of England, as part of a radical shake-up by governor Mark Carney.

Manufacturers optimistic for 2014, says EEF

UK manufacturers are enjoying a strong start to the year and are confident about the outlook, according to their industry body, the EEF.

Putin Deports Executives for Speeding as Sanctions Loom

Even before the Ukraine standoff, foreign companies in Russia say they were alarmed by the number of executives being deported for minor infractions.

Consumer Sentiment in U.S. Unexpectedly Falls on Outlook

Consumer confidence in the U.S. unexpectedly dropped in March to a four-month low, indicating household spending may be slow to pick up from a weather-related setback earlier this year.

Finland Trapped in Recession as Investment Fades: Nordic Credit

Finland is shuttering factories that make up the backbone of its export industry faster than it’s investing in new companies.

February US retail sales thaw out after winter chill

US retail sales rose for the first time in two months in February, official figures have shown. The figures suggest the world's largest economy is gaining in strength after suffering the third-coldest winter on record.

Renzi’s Cabinet to Pass Italy Tax Cuts, Job Market Overhaul Plan

Italian Prime Minister Matteo Renzi’s cabinet is poised to pass tax cuts worth as much as 10 billion euros ($14 billion) and approve plans to overhaul the labor market, as he sets out to jump-start the euro area’s third-biggest economy.

Head of Cyprus' central bank resigns

The head of the Cypriot central bank, Panicos Demetriades, has resigned.

BOJ to hold fire but exports seen as a concern

(Reuters) - The Bank of Japan is expected to maintain its massive monetary stimulus on Tuesday on a view the economy can weather a sales tax increase in April without extra support, although there is expected to be some concern about weakness in exports.

New Zealand to go to economy-focused election on Sept 20

WELLINGTON, March 10 (Reuters) - New Zealand will hold its general election on Sept. 20, Prime Minister John Key said on Monday, in a vote that is likely to focus on his centre-right National Party's economic record.

Economy Shaking Off Effects of Weather as U.S. Payrolls Climb

The economy in the U.S. showed signs of emerging from the effects of the winter storms that have curbed growth in early 2014 as employers added more workers than projected in February.

Swiss Franc Rises With Yen Before U.S. Payrolls Data

The Swiss franc and Japanese yen climbed against most counterparts before U.S. jobs data today. Corn jumped to a six-month high, Indonesia’s rupiah gained and European stocks were little changed after a global equity rally that’s added $523 billion to markets this week.

Three-month low in U.S. jobless claims offers hope for labor market

(Reuters) - The number of Americans filing new claims for jobless benefits hit a three-month low last week, suggesting some strength in a labor market that has been hobbled by severe weather.

Eurozone business growth accelerated in February, PMI survey says

Business growth in the eurozone accelerated last month to its fastest pace since June 2011, a survey says.

BOE Seeks Derivatives Pact to Prevent a Repeat of Lehman Cascade

The Bank of England is seeking a global pact among banks to suspend default clauses in some derivatives contracts during a crisis, in a bid to ward off bank death spirals that cascade through the financial system.

China's manufacturing, services sectors diverge in February

(Reuters) - China's services sector regained some momentum in February but its manufacturing sector struggled, separate surveys showed on Monday, with the divergence adding to the difficulty in assessing the strength of the economy at the start of 2014.

Pound Strengthens Against Dollar as Economic Recovery Broadens

The pound advanced against the dollar as data showed a surge in business investment helped the British economy grow for a fourth straight quarter, boosting the allure of the U.K. currency.

Fed may need to let inflation run hot to meet goals: Evans

(Reuters) - The Federal Reserve should be willing to let inflation temporarily run above its target level so as to more quickly bring the economy back to health, a top Fed official said on Friday, even as a second policymaker signaled the very idea left him cold.

British manufacturers urge George Osborne to overhaul business rates

British manufacturers have urged George Osborne to overhaul the business rates regime, saying the tax is blocking investment. In a letter to the chancellor seen by the Guardian, 10 leading manufacturers, including Tata Steel and carmaker Vauxhall, call for an independent review of the business rates system and urge action in the budget.