ECB to boost banks with more cheap cash, say economists: Poll

LONDON: The European Central Bank will soon provide another shot in the arm for Europe's strained banks with a more cheap, long-term loans, according to a firm majority of economists polled by Reuters.

Markets Drift Lower After Fed Announcement

Stocks on Wall Street fell in volatile trading on Wednesday after the Federal Reserve said it would keep its stimulus program intact for the time being, as expected, though it also nodded to a weaker economic growth outlook.

Japanese households spending more, unemployment down

TOKYO: Japan's thrifty households boosted their spending last month while unemployment fell, data showed Tuesday, as the International Monetary Fund (IMF) gave a thumbs up to Tokyo's economic policy blitz.

US Federal Reserve to hold its fire this week, wants clearer economic view

WASHINGTON: Federal Reserve officials are unlikely to make any shift to monetary policy this week as they wait for more evidence of how badly Washington's budget battle has hurt the US economy.

China Starts Prime Loan Rate as New Benchmark in Market Push

China started publishing a new lending rate based on quotes from banks and signaled it may eventually replace the current benchmark set by the People’s Bank of China, deepening a shift to market-based interest rates.

Carney says the Bank of England is 'open for business'

The Bank of England intends to boost the availability of finance for banks, a move which could help them lend to consumers.

The biggest US economy killer: US government

The government shutdown and debt ceiling crisis inflicted a toll on the American economy, but that cost is only a fraction of the total damage that the federal government has been causing to the American economy.

Draghi wants European banks backstop in place by 2015

(Reuters) - A common resolution mechanism for dealing with troubled banks is a crucial part of the euro zone's banking union and the European Central Bank wants it in place by 2015, ECB President Mario Draghi told Reuters on Wednesday.

UK economy finally set for sustained growth, says Bank of England deputy

Britain is finally set for a sustained period of growth but the recovery will be modest by historical standards, Charlie Bean, the deputy governor of the Bank of England, has said.

Malta, Greece urge EU to share immigration 'burden'

VALLETTA: Malta and Greece called Monday for Europe to take decisive action on illegal immigration at summit talks this week, insisting EU states follow up on promises to share the "burden".

What the world economy can learn from Japan

By many measures, Japan's economic fortunes have turned up. The Tokyo stock market has surged about 65 per cent since last fall. In the second quarter, the economy expanded by 3.8 per cent, which is faster than other developed economies.

Bank of England makes less of a hash of Twitter debut than British Gas

It would not have happened at Threadneedle Street in Sir Montagu Norman's day. When Britain's first modern central banker was at the helm of the Bank of England between 1920 and 1944, tweeting was strictly for the birds.

Shutdown inflicted unnecessary damage to US economy: Barack Obama

WASHINGTON: President Barack Obama says the government shutdown ``inflicted unnecessary damage'' to the US economy and damaged America's credibility around the world.

Canada Consumer Sentiment Falls for Second Week on U.S.

Canadian consumer sentiment fell for a second week as budget disputes in the U.S. continue to weigh on views of the economy, according to the Bloomberg Nanos Canadian Confidence Index.

EU sees US default risk for world economy

LUXEMBOURG: A possible US debt default would have "dramatic consequences" for the global economy, EU Economic Affairs Commissioner Olli Rehn warned on Monday.

China inflation rate rises on higher food prices

Consumer prices in China rose more than forecast in September, fuelled mainly by a surge in food prices.

Has the G-20 Lost Its Way?

The Group of 20 leading economies was one of the main ways officials responded to the financial crisis that tipped the global economy into recession in 2008.

G20 gives U.S. a slap for the shutdown

The world’s top economic powers urged the U.S. to break its stalemate over the nation’s debt ceiling and budget, calling the standoff one of the world’s chief immediate economic risks.

G20, meeting in Washington, to seek answers on looming U.S. debt crisis

WASHINGTON (Reuters) - Top finance officials from the world's leading economies gathering later this week will look for straight answers from the United States over the political dysfunction that threatens to throw the world's largest economy into default.

Canada Official Says U.S. Budget Issue to Dominate G-20

The budget standoff in the U.S. will probably dominate discussions of Group of 20 finance ministers in Washington later this week, a Canadian official said.

G-20 Draft Says QE Withdrawal Volatility Poses ‘Important Risk’

The Group of 20 economies identified market turmoil from central banks’ withdrawal of monetary stimulus as a key risk to the global financial system, according to a draft communique for talks scheduled later this week.

East Asia growth forecast cut by the World Bank

The World Bank has cut its growth forecast for East Asia's developing countries from 7.8% to 7.1% for 2013.

Italy Services Sector Grows in September for First Time in More Than Two Years

ROME — Italy's services sector unexpectedly grew in September for the first time in more than two years spurred by new business, a survey showed on Thursday, suggesting the economy is slowly emerging from its longest recession in decades.

Japan warns of 'consequences' in US debt battle

Japan's finance minister and top central banker on Friday urged Washington to resolve its political gridlock, warning a debt default could lead to grim "consequences" for the global economy.

UK services growth reaches 16-year high

Activity in the UK services sector grew at its fastest pace since 1997 in the third quarter of the year, a closely-watched survey has indicated.

Christine Lagarde urges US that debt crisis threatens world economy

The head of the International Monetary Fund, Christine Lagarde, has urged America's warring politicians to settle their differences as she warned that an escalation of the budget row would harm the entire global economy.

Silvio Berlusconi U-turn keeps Italy's grand coalition afloat

Italy's grand coalition government looks certain to limp on after Silvio Berlusconi, the former prime minister who had brought it to the brink of collapse with a threat to withdraw his MPs, backed down at the last minute when it became clear that rebels from his own party would allow a confidence vote to pass.

Korean Middle Power Diplomacy: The Establishment of MIKTA

Amidst the flurry of diplomatic consultations that focused on Syria and Iran among other issues at the UN General Assembly, five countries that consider themselves as newly emerging middle powers and G-20 members have banded together in a little-noticed move to form a new consultative group and to create a new acronym: MIKTA (Mexico, Indonesia, Korea, Turkey, and Australia).

George Osborne targets budget surplus by 2020

George Osborne announced on Monday that a Conservative government would seek to run an overall budget surplus by 2020, a move that would put further pressure on welfare spending beyond the cuts already announced until 2017.