UK exports and business investment help second-quarter GDP growth

Exports and business investment helped the UK economy expand in the second quarter, according to official figures that confirmed a pickup in growth after a sluggish start to the year.

Greek economy grows in second quarter, helped by consumer spending

ATHENS, Aug 28 (Reuters) - Greece's economy grew 0.9 percent in the second quarter, compared with previous flash estimate of 0.8 percent earlier this month, helped by consumer spending and net exports, data showed on Friday.

Central Bank Doves Bring Some Relief to Commodity Bulls for Now

The case for a rebound in commodities from the lowest level in 16 years is getting a little help from central banks.

Once a source of envy, Germany's China exports turn into a risk

BERLIN (Reuters) - Germany's export exposure to China, for years a source of economic strength, is fast turning into a risk that raises questions about the health of other sources of growth in Europe's largest economy.

Greek election confusion raises fresh fears over ability to pay debts

Confusion over the timing of fresh elections in Greece has threatened to jeopardise the prospects for a smooth transition to a new government and the ability of the debt-stricken country to meet the conditions of its €86bn bailout.

China fears, global growth doubts grip markets

Markets are watching for China's next move as signs of a slowdown in the world's second-largest economy stack up, raising expectations it will act to stoke growth.

UK income tax receipts reach surplus in July

A record month for income tax receipts helped the government achieve its first July surplus on the public finances for three years, according to official figures.

Fed Minutes Show Caution in Discussion on Rates

WASHINGTON — Federal Reserve officials are struggling to get comfortable with the persistent sluggishness of price inflation as they move toward raising interest rates later this year.

Greece needs further debt relief after third bailout deal in five years, says IMF chief

Greece needs more significant debt relief from its creditors, the head of the International Monetary Fund said, after the bankrupt country accepted tough conditions to secure its third bailout deal in five years.

Five reasons to be worried about the Chinese economy

It has been a tough year for China. Premier Li Keqiang’s plan to have slower but better balanced growth has run into difficulties and Beijing’s struggle to transform its economic model has prompted fears that the world’s second-biggest economy could be the source of the next global downturn.

German Economy Expands Less Than Forecast as Global Risks Loom

Germany’s economy expanded less than forecast last quarter as turmoil in Greece and a slowdown in China sapped global demand.

Deadly China Port Blast Halts Oil Ships as BHP Ore Disrupted

Shipments of oil and iron ore were disrupted at the northern Chinese port of Tianjin after a blast killed at least 44 people and injured hundreds.

Oil at 6-year low, but OPEC keeps pumping more

The world's biggest oil producers are pumping like there is no tomorrow.

Finland Throws Support Behind Greek Bailout It Says Won’t Work

A third Greek bailout won’t work and will only prolong the difficulties plaguing the euro area, according to Finnish Foreign Minister Timo Soini.

Australia Central Bank Signals Unemployment Has Peaked, Pushes Back Growth Upswing

Australia’s central bank indicated the jobless rate has peaked as signs mount the economy is improving, even as it pushed back forecasts of a growth upswing by a year.

Nigeria Bans Dollar Cash Deposits in Bid to Bolster Naira

Nigeria’s central bank banned banks from taking foreign-currency cash deposits and will boost supply of dollars to money changers this week as it seeks to bolster the currency of Africa’s biggest oil producer and economy.

China now runs 4 of the world's 5 biggest banks

Four of the five largest banks in the world are Chinese, according to SNL Financial's latest global bank rankings.

Puerto Rico's crisis ... in 2 minutes

Puerto Rico has been dubbed "America's Greece." The island is expected to default on its debt for the first time ever on Monday. If you're just catching up, here's the latest on Puerto Rico's crisis and what you need to know. Last updated August 3 at 12 noon ET.

UK interest rate rises - waiting for lift-off

With prominent members of the Bank of England’s monetary policy committee (MPC) – not least the governor – lining up in recent weeks to talk up the prospect of rate rises at some point in the coming months, this week’s meeting has already sparked another burst of speculation about when the first hike in eight years will happen.

Bailout Money Goes to Greece, Only to Flow Out Again

FRANKFURT — The Greek businessman was nervous as he carried a suitcase stuffed with cash through passport control at the Athens airport a few months ago. But the distracted and overworked customs officials waved him through.