Rehn: big bank depositors could bear cost of bank failure

People with big deposits could suffer a ‘haircut’ under planned European Union law if a bank fails, the EU's economic affairs chief Olli Rehn said.

France drags on euro zone economy, Britain brighter

(Reuters) - A huge drop in French business activity meant the euro zone's recession dragged on in March but British services firms provided a rare glimpse of economic sunshine, posting their best month since August.

Cold weather clips UK construction

Britain's cold snap clipped construction activity in March, leading the sector to suffer its third consecutive month of shrinking output, although there were signs of optimism for the rest of the year.

IMF and Egypt discuss $4.8bn loan

International Monetary Fund (IMF) officials are in Cairo to hold talks with the Egyptian government about authorising a $4.8bn (£3.2bn) loan for the country.

Cypriot Finance Minister Resigns

PARIS — Michalis Sarris, the Cypriot finance minister who negotiated Cyprus’s bailout agreement with international creditors, resigned on Tuesday, citing the beginning of a government inquiry into the collapse of the country’s banking industry.

US manufacturing posts best quarter in 2 years: Markit

NEW YORK: US manufacturing growth picked up in March as new orders increased and hiring quickened, closing out the best quarter for the sector in two years, a survey showed on Monday.

Osborne defends welfare cuts after church attacks

LONDON (Reuters) - The government on Monday defended a raft of new welfare spending cuts, a key plank of efforts to rein in spending as the economy flounders, after church leaders attacked the changes as unjust.