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.

Japan growth data revised upwards

Japan has revised up its growth figures for the January-to-March period, due to stronger growth in business investment.

British manufacturers urge George Osborne to overhaul business rates

British manufacturers have urged George Osborne to overhaul the business rates regime, saying the tax is blocking investment. In a letter to the chancellor seen by the Guardian, 10 leading manufacturers, including Tata Steel and carmaker Vauxhall, call for an independent review of the business rates system and urge action in the budget.

OECD urges Italy to keep austerity as Rome balks

ROME (AP) — Italy must continue to bring down its public debt, the Organization for Economic Cooperation and Development said Thursday, even as the country's new premier seeks a greater focus on economic growth instead.

Fed to keep priming economy's pump until next year, CNBC survey shows

Wall Street now firmly believes that the Federal Reserve will keep its foot on the accelerator well into 2014, with 40 of 46 respondents to the April CNBC Fed Survey forecasting asset purchases by the central bank next year.

Budget Cuts Seen as Risk to Growth of U.S. Economy

WASHINGTON — The fresh round of federal spending cuts scheduled to begin next week would slow economic growth in the next year, though not nearly as much as going over the so-called fiscal cliff might have, economists said.

Growth in Consumer Spending Slows

WASHINGTON — American consumers increased their spending in December at a slower pace, while their income grew by the largest amount in eight years, the Commerce Department said Thursday.

Euro, shares rise on signs of Chinese growth

LONDON (Reuters) - The euro hit a six-week high and shares rose on Monday as signs of quicker Chinese growth boosted investors' risk appetite although gains were capped by U.S. budget worries.

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.

Spain may miss 2012 budget deficit goal: Bank of Spain

MADRID: The Bank of Spain warned on Wednesday that the recession-hit country could miss its budget deficit target for 2012 given the 'very unfavourable' economic context, one year after it overshot its 2011 target.

Bernanke: 'Stakes are high' on fiscal cliff

NEW YORK (CNNMoney) -- Federal Reserve Chairman Ben Bernanke on Tuesday urged lawmakers to avoid the fiscal cliff by acting as soon as possible.

Spanish Unions Demand Vote on Cuts as 65,000 March in Madrid

Spanish union leaders demanded Prime Minister Mariano Rajoy test support for his budget cuts in a referendum as 65,000 protesters took to the streets of Madrid.