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.

Government’s deficit target still off course despite strong October

The chancellor’s plan to cut the deficit this year still looks out of reach as he prepares to deliver the autumn statment next month, despite a surprise improvement in the public finances in October.

Euro Economy’s Managers Aren’t Blinking in Market Rout

German Chancellor Angela Merkel and European Central Bank President Mario Draghi aren’t blinking yet. The longest losing streak in European stocks in 11 years and the weakest inflation since 2009 has intensified pressure on the managers of the euro area’s already ailing economy to deliver fresh stimulus programs.

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.

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.

Biggest drop in savings for 40 years, Bank of England figures reveal

Bank figures show £23 billion taken out of long-term savings in past 12 months, equivalent to £900 for every UK household.

Japan's economic growth slower than expected at 2.6%

Japan's economy grew 2.6% last quarter, slower than expected, as companies wary about the prospects for a sustained recovery kept a tight rein on investment.

French auditor urges economic reforms to slash spending

France's national auditor has warned that further cuts in public spending are needed if the country is to get its ailing economy back on track.

G7 smooths divisions over growth, deficit reduction

AYLESBURY: The Group of Seven advanced economies on Saturday appeared to smooth over US-European differences on how to balance deep austerity measures with ways to support fragile growth.

G20 Leaders: Changing Words on Fiscal Policy

Over the past five years, the leaders of the Group of 20 major economies have altered their message from endorsing stimulus (November 2008) to calling for “fiscal consolidation” (June 2010) to urging “countries with sufficient fiscal space” to prepare to do more than allow automatic stabilizers, such as unemployment compensation, to widen their deficit (June 2012.).

Greek private sector credit shrinks 3.5 per cent in March, decline slows

ATHENS: Bank lending to Greece's private sector contracted in March but at a slower pace compared to a month earlier, central bank data showed on Friday, as tighter credit conditions and a protracted economic slump sap demand for loans.

Egypt to reopen IMF loan talks next month as crisis bites

CAIRO (Reuters) - Egypt will reopen talks with the IMF next month on a $4.8 billion loan, a minister said on Monday, and the government laid out plans to reverse a slide in currency reserves and tackle the dire state of public finances.

Berlusconi group leads in key region ahead of Italy vote

ROME (Reuters) - Silvio Berlusconi's center-right coalition is leading in a vital battleground region ahead of next month's Italian election, making it harder for left-wing rivals to form a stable parliamentary majority, according to a poll on Sunday.

Portuguese Austerity in Doubt as President Moves Against Budget

LISBON—A political rift was opened in Portugal on Wednesday after the country's president sent the 2013 budget to its highest court for review, an unusual move that highlights deepening opposition to a two-year austerity drive.

UK may face deeper government spending cuts -IFS

LONDON (Reuters) -Chancellor George Osborne may have to announce more spending cuts and tear up one of his key austerity goals next month, the Institute for Fiscal Studies said on Monday, warning government borrowing was likely to rise this year.

UK needs extra spending cuts, says OBR

The UK government must make deeper cuts or raise more money in the future to keep public finances in check, the Office for Budget Responsibility says.

Romania backs out of mine sale, privatization hits snag

BUCHAREST (Reuters) - Romania has backed out of a deal to sell its biggest copper mine to Canada's Roman Copper Corp, its economy minister said on Saturday, a fresh blow to a privatization plan agreed with the International Monetary Fund.

Greece secures provisional approval for new bailout

BRUSSELS (Reuters) - Greece has taken all the legal action needed to secure a second bailout from the euro zone countries, Eurogroup President Jean-Claude Juncker said on Thursday, opening the door to the first tranche to be paid out by March 20 if more conditions are met.

BOJ eases policy, sets near-term price goal

TOKYO (Reuters) - The Bank of Japan on Tuesday eased its policy by boosting asset purchases and defined 1 percent consumer inflation as a near-term goal in response to growing calls for more action to help the economy mired in deflation and weighed down by a strong yen.

S&P warns cuts loom for G20 nations on health costs

(Reuters) - Ratings agency Standard & Poor's warned it may downgrade "a number of highly rated" Group of 20 countries from 2015 if their governments fail to enact reforms to curb rising healthcare spending and other costs related to ageing populations.