Bank of England: Gertjan Vlieghe named as new MPC member

Chancellor George Osborne has announced that Gertjan Vlieghe, a senior economist at hedge fund Brevan Howard, will replace David Miles on the Bank of England’s monetary policy committee.

Will China's slump sink Europe's recovery?

Markets across the region fell sharply on Monday after a horror plunge on China's key indexes. Shares in Germany and France lost more than two percent.

Federal Reserve Accidentally Leaks Secret Documents

WASHINGTON, July 24 (Reuters) - Staff economists at the Federal Reserve expect a quarter-point U.S. interest rate increase this year, according to forecasts the Fed mistakenly published on its website in a gaffe that drew criticism about its ability to keep secrets.

WTO strikes 'landmark' IT trade deal

The World Trade Organisation (WTO) has struck a "landmark" deal to cut tariffs on $1.3 trn (£838bn) worth of technology products.

Bank of Japan Only Imagines Inflation

It's too bad the central banking profession has no Hippocratic oath. If it did, Haruhiko Kuroda would've known better than to harm Japan's reflation regimen by saying prices are about to "accelerate considerably."

Is the government still behind the banking ringfence?

The general election was only10 weeks ago and already the big banks have scored two major lobbying triumphs. In round one, chancellor George Osborne revamped the bank levy in a way that will save HSBC about £700m a year.

Greek banks reopen as Tsipras eyes return to normal

Greeks queued outside banks on Monday as they reopened three weeks after closing to stop the system collapsing, the first cautious sign of a return to normal after a deal to start talks on a new package of bailout reforms.

Emerging Markets Had Biggest Outflow Since 2009, JPMorgan Says

Capital outflows from developing countries reached $120 billion last quarter, the most since 2009, fueled by an exodus from China amid concern over the strength of the country’s economy, according to JPMorgan Chase & Co.

Merkel 'gambling away' Germany's reputation over Greece, says Habermas

Jürgen Habermas, one of the intellectual figureheads of European integration, has launched a withering attack on the German chancellor, Angela Merkel, accusing her of “gambling away” the efforts of previous generations to rebuild the country’s postwar reputation with her hardline stance on Greece.

Iran nuclear talks: 'Historic' agreement struck

World powers have reached a deal with Iran on limiting Iranian nuclear activity in return for the lifting of international economic sanctions.

Paulsen: No clear sailing for markets after Greece

The world has largely focused on the debt crisis in Greece and China's stock crash, but interest rate moves in the United States and Germany are among the most fascinating developments in the market, James Paulsen, Wells Capital Management chief investment strategist, said Monday.

China and Russia Lay Foundation for Massive Economic Cooperation

In the past decade, Beijing and Moscow have been more competitors than partners. But that relationship may now be changing as Russian and Chinese leaders are considering combining their two countries’ regional economic projects — the Eurasian Economic Union and the Silk Road Economic Belt, respectively.

Europe Weighs Greek Proposal as Tsipras Seeks Lawmaker Support

France praised a Greek package of reforms while other nations voiced skepticism, as lawmakers in Athens prepared to debate whether to support Prime Minister Alexis Tsipras’s plan to access a bailout of at least 53.5 billion euros ($60 billion).

BRICS a stabiliser of global economy, says Xinhua

Ufa (Russia), July 8 (IANS) The BRICS group with deepened cooperation will not only serve its five member countries and other developing nations, but also stabilise and even boost the world economy, the official Chinese news agency Xinhua said in a commentary.

Greece's lenders: who has most to lose?

As eurozone leaders meet in another effort to broker a deal between Greece and its creditors, those who have lent to the near-bankrupt country are asking if they will ever get their money back.

Gold Producers See Instant Advantage Should Greece Exit Euro

Gold producers see potential for immediate gains should Greece exit the euro having voted against additional austerity measures.

Iran Talks Breakthrough Seen as UN Expects End to Military Probe

United Nations monitors say they’ll be able to assess the possible military aspects of Iran’s past nuclear program by December, overcoming one of the last remaining hurdles to a deal between world powers and the Islamic Republic.

Tsipras Is Learning From Merkel Who’s the Boss

Alexis Tsipras is flouting the cardinal rule of political survival in Europe: don’t displease Angela Merkel. The German chancellor’s disapproval helped end the political careers of former Italian prime minister Silvio Berlusconi and Greek leader George Papandreou.

Romanian Central Bank to Review Stance After Halting Rate Cuts

Romania’s central bank said it will reassess its monetary-policy stance after government talks over a rainy-day loan broke down with contagion from Greece threatening the financial system.

Greece debt crisis: Global stock markets slide

Stock markets in Europe and the US have fallen after Greece closed its banks and restricted cash withdrawals.