Bank of England director defends QE and low interest rates

Britain would be a significantly poorer country without deep cuts in interest rates and the Bank of England's emergency injection of £375bn into the economy through its controversial quantitative easing (QE) programme, one of the Bank's leading policy makers has said.

Philippine Growth Dips Below 6% as Storm Impact Lingers: Economy

Philippine economic growth eased to below 6 percent for the first time in nine quarters, giving the central bank scope to keep interest rates at a record low.

What Russia-China relations mean for the dollar

If there was one takeaway from Russia's annual economic shindig in St Petersburg last week, it was that the country is continually looking to its neighbor China for trade and investment.

IMF chief says banks haven't changed since financial crisis

The head of the International Monetary Fund has warned that a persistent violation of ethics among bankers and rising inequality pose a major threat to growth and financial stability.

Draghi: Cramped credit hurting recovery

SINTRA, Portugal (AP) — European Central Bank President Mario Draghi says the ECB could take targeted steps to get credit flowing to struggling small businesses as a way to boost the tepid economic recovery.

German economy gets off to good Q1, but confidence dips

FRANKFURT: Booming investment provided the German economy with a healthy kick start into this year, but business confidence in Europe's biggest economy appears to be stalling already, data showed on Friday.

Australian Gold Output Declines After Heavy Rains Lash Mines

Gold output in Australia, the world’s second-biggest producer, fell in the first quarter after a key mining region was inundated by heavy rainfall, industry consultant Surbiton Associates Pty said.

Italy struggles to turn page on corruption

MILAN, Italy (Reuters) - They usually met in Milan although on Wednesdays they lunched in Rome. But for the seven men arrested on suspicion of corruption, the menu was always the same, prosecutors said: alleged bribes to obtain building contracts for Italy's Expo 2015 world fair.

China Starts Anti-Terror Campaign After Xinjiang Blasts

China has started a one-year campaign against terrorism in Xinjiang after a series of explosions on May 22 killed 39 people and injured 94 in the northwestern region, Xinhua News Agency reported.

China and Russia sign historic $400bn gas deal after 10 years of negotiations

After 10 years of negotiations, Russia's Gazprom and China's CNPC have finally signed a historic gas deal which will provide the world's fastest growing economy with the natural gas it needs to keep pace for the next 30 years.

California’s Economy Gets Good Marks In Green Innovation Report

San Diego gets good marks in the latest assessment of the state's green economy. The nonpartisan group Next 10 is out with its annual Green Innovation Index.

BOJ Refrains From Easing With Signs Japan Weathering Tax Rise

Japan’s central bank refrained from boosting stimulus and raised its view of business investment as the economy shows signs of weathering the impact of the first sales-tax increase since 1997.

Growth in China's new home prices cools to 11-month low

(Reuters) - Growth in average new home prices in China slowed to a near one-year low in April, official data showed on Sunday, adding to concerns about the weakness of the property market and what policymakers can do if prices start to fall too sharply.

America can’t prosper with low rates, weak dollar

Five years after the beginning of the economic recovery, after rock-bottom interest rates and trillions of dollars of quantitative easing by the Federal Reserve, the economy is growing about 2%.

Exclusive: German industry steps up drive to prevent Russia sanctions

(Reuters) - German industry is ramping up efforts to dissuade Chancellor Angela Merkel from imposing tough new economic sanctions on Russia over Ukraine, warning of lasting damage to domestic firms and the broader economy if Moscow is hit hard.

Bank of England Governor Mark Carney warns economy has yet to reach ‘ultimate goal’ of expansion

Interest rates are set to remain at record lows this year despite strong growth and further falls in unemployment, the Bank of England has signalled.

Former BOJ Policy Maker Sees Japan Inflation Dilemma

The Bank of Japan faces a “terrifying dilemma” of inflation forcing it to tighten monetary policy just as the central bank most needs to support the bond market, according to a former board member.

IMF says Uganda's economic growth to accelerate despite reduced foreign aid risk

(Reuters) - Uganda's economic growth should accelerate to just above 6 percent in the next fiscal year through June 2015 despite the risk of reduced foreign aid and unrest in key export market South Sudan, the IMF said on Tuesday.

African invoice fraud hampers development of poorest nations

More than $60bn (£36bn) has been illegally siphoned out of Uganda, Ghana, Mozambique, Kenya and Tanzania over 10 years, with most of it squirrelled away in tax havens, according to a report by financial transparency campaigners.

Sturdy U.S. wholesale stocks data may temper downward GDP revision

(Reuters) - A big rise in U.S. wholesale inventories in March is likely to temper an expected downward revision to the government's estimate of first quarter economic growth, but fall short of keeping it from being pushed into negative territory.

U.K. Manufacturing Rises More Than Forecast

U.K. manufacturing production expanded more than economists forecast in March, adding to evidence that the economic recovery is gathering strength.

U.S. consumer credit posts largest gain in a year

(Reuters) - U.S. consumer credit recorded its largest increase in a year in March, boosted by growing demand for student loans and household borrowing to buy automobiles.

Bank of England to stick with low rates even as recovery builds

(Reuters) - The Bank of England looks set to keep interest rates at a record low on Thursday, despite signs that the recovery is picking up more speed and that house prices are surging.

France's Montebourg says euro rate is matter for politicians

(Reuters) - Economy Minister Arnaud Montebourg stepped up France's push for a weaker euro on Wednesday, saying political leaders had the right to assess the right level for the currency in a position completely at odds with Germany's.

No UK trade benefit from EU membership - Civitas report

EU membership has not given the UK any "insider advantages" in trade with other European countries, a report by social policy think tank Civitas says.

U.S. public pensions outperform peers in first quarter: data

(Reuters) - U.S. public pension funds returned a median 1.87 percent in the first quarter of 2014, slightly outperforming the 1.66 percent returns for the larger universe of institutional investment plans, according to a report to be released on Monday.

Europe's cybersecurity policy settings under attack

Brussels (AFP) - Even as Europe powered up its most ambitious ever cybersecurity exercise this month, doubts were being raised over whether the continent's patchwork of online police was right for the job.

US economy records bumper jobs growth in April

The US economy created 288,000 jobs in April, the strongest monthly job creation since January 2012. The largest jobs gain came in professional and business services, which added 75,000 jobs during the month.

Pound rises on UK manufacturing surge

The pound has hit a near five-year high against the dollar after a survey suggested that UK manufacturing grew faster than expected in April.

How the Russian economy has taken a turn for the worse

Russia's economy was struggling even before the crisis in Ukraine, but things have now taken a turn for the worse, according to the International Monetary Fund.

US Federal Reserve continues trimming stimulus efforts

The US Federal Reserve announced a further reduction of its stimulus efforts, after a two-day meeting in Washington.