European banks face toughest stress tests yet

European banks must show they can survive simultaneous routs in bonds, property and stocks in the toughest test to date by regulators aiming to restore confidence in an industry that had to be rescued by taxpayers in the financial crisis.

Japan retail sales rise at fastest pace in 17 years before tax hike

(Reuters) - Japanese retail sales rose in March at their fastest pace in 17 years as consumers went on a shopping spree before a national sales tax hike took effect on April 1, setting the stage for a decline in consumer spending the following month.

Croatia Needs Consensus to Tackle Crisis, President Says

Croatia’s political leaders need to come to agreement on how to end the former Yugoslav republic’s longest economic recession on record and avoid “serious” social consequences, President Ivo Josipovic said.

China top leaders say to keep policy unchanged: Xinhua

(Reuters) - China is sticking to its current fiscal and monetary policy settings, the state news agency quoted top leaders as saying on Friday.

U.S. services sector expands at slower pace in April

(Reuters) - The U.S. services sector expanded in April at a slower rate than the previous month as employment creation decelerated, an industry report showed on Friday.

IMF says sub-Saharan Africa faces heightened risk of capital outflows

(Reuters) - Investment in infrastructure and natural resources will continue to underpin economic activity in sub-Saharan Africa, although capital outflows sparked by tighter global financial conditions pose a risk to growth, the IMF said on Thursday.

China factories extend slump

China's factories continued to struggle in April, according to an early gauge of activity in the country's all-important manufacturing sector.

French PM under party pressure to tweak deficit plan

(Reuters) - French Prime Minister Manuel Valls discussed tweaking his deficit-reduction programme on Tuesday with Socialist lawmakers who want to reduce cutbacks for low-income pensioners, a day before the plan is due to be presented to parliament.

Canadian Stocks Fall as Energy Shares Slide Amid Pipeline Delay

Canadian stocks fell, after the biggest weekly advance since February, as raw-material and energy shares slumped amid further delays in the Keystone XL pipeline approval process.

More businesses saw higher costs for materials, labor in first quarter, report finds

NEW YORK – Rising costs for materials and labor appear to be pressuring businesses, according to a quarterly survey from the National Association of Business Economics.

Dollar Gains on Accord to Reduce Tension in Ukraine

The dollar strengthened for a fifth day against a basket of major peers as an agreement to start de-escalating the conflict in Ukraine sent stocks higher and pushed Treasuries down the most in a month.

Painful 2013 leaves European banks' returns well below target

(Reuters) - Europe's largest banks are generating a poor return on their capital, well below their post-crisis targets, as muted credit growth slows their recovery and progress on costs is swallowed by unexpectedly high loan losses.

Forcing Russia Out of Markets Seen as Ukraine Leverage

Forcing Russia out of global financial markets is the strongest tool at U.S. President Barack Obama’s disposal if he wants to stop Vladimir Putin’s territorial ambitions, according to former government officials and sanctions specialists.

World economy on steady course at best, China a worry, polls show

(Reuters) - The world economy can expect steady growth at best over the coming year, but any rapid slowdown in China as it tries to rebalance its economy could upset the still-unsteady progress, Reuters polls showed.

Wages beat inflation as unemployment falls below 7%

Wage growth has finally started to outpace inflation after years of falling real earnings, and unemployment has fallen to its lowest level in five years, figures released on Wednesday show.

Portugal Plans Budget Savings Worth $1.9 Billion for 2015

Portugal plans to implement budget measures worth 1.4 billion euros ($1.94 billion) to narrow its budget deficit and meet a target set for 2015.

ECB hints at further stimulus to combat low inflation

The European Central Bank (ECB) has said it will provide "further stimulus" to the eurozone economy if inflation in the bloc continues to remain low.

Germany's current account surplus is a wider issue than it first appears

When the US treasury recently added its voice to the chorus of critics of Germany's chronic current account surplus, it underscored the deep disagreement over what, if anything, should be done about it.

Finance officials confident of global growth

WASHINGTON (AP) An ambitious goal to boost global growth by $2 trillion in the next five years is within reach, finance officials of the world's major economies believe, despite a variety of threats, including rising political tensions over Russia's actions in Ukraine.

G-20: Determined To Add Jobs, Boost Growth

WASHINGTON – Finance officials of the G-20 group of important global economies on Friday said they were determined to further strengthen the global economy, create jobs and improve longer-run growth prospects.

Greece Trumpets Return to International Bond Market

ATHENS — Greece’s return to the financial markets with a five-year bond offering on Thursday was met with overwhelming demand from investors, and government officials hailed the sale as proof that the country was recovering from a wrenching five-year economic crisis.

IMF: UK economic growth to reach 2.9% in 2014

The International Monetary Fund (IMF) says the UK economy will be the fastest-growing in the G7 this year. It says the UK will grow 2.9% in 2014, up from a January estimate of 2.4%, and will see growth of 2.5% in 2015.

G20 to focus on boosting global growth, not Crimea: official

(Reuters) - Global financial leaders will thrash out details of individual country pledges to boost growth and overhaul their economies at this week's meetings in Washington, a senior Australian official said on Tuesday.

Labour's Chuka Umunna slams government export schemes

Two major government export schemes have failed to help a single firm, the shadow business secretary has said.

China 2013 current account surplus to GDP ratio falls to 2%: Report

BEIJING: China's current account surplus was equivalent to 2 per cent of gross domestic product in 2013, down from 2.6 per cent in the previous year, official data showed, as the government seeks to reduce the economy's reliance on external demand.

Euro zone may need lower rates: ECB member

(Reuters) - Euro zone countries are experiencing a recovery but lower interest rates may be needed to nurture it, European Central Bank executive board member Benoit Coeure told France's Le Figaro newspaper on Friday.

Private sector jobs finally back to 2008 peak, but...

After a winter slowdown, the job market hit a milestone in March as the private sector finally recovered all the jobs lost in the 2008 financial crisis.

Markets may be underestimating threats to the global economy

The world's economic, financial, and geopolitical risks are shifting. Some risks now have a lower probability – even if they are not fully extinguished.

Australia’s April 2033 Bond Auction Draws Most Bids in 4 Months

A sale today of Australian government bonds due in 19 years, the longest maturity for outstanding debt not linked to inflation, drew the most bids at any auction in almost four months and was snapped up by six buyers.

Canadian auto sales nudge higher in March

(Reuters) - Canadian auto sales inched just 0.2 percent higher in March from a year earlier, figures on Tuesday showed, but an independent auto industry analyst said the modest increase masked a solid performance during severe winter weather, especially in comparison with the record sales of March 2013.

Britain's productivity: still a puzzle for policymakers and industry leaders

In a modern mill in a small industrial estate in the textile town of Bury, Lancashire, more than 100 whirring machines roll out 11m metres of high strength fabric every year.