EU bailout fund releases Cyprus aid payment

BRUSSELS: The EU on Monday handed over the first two billion euros of loans agreed under the controversial Cyprus aid deal, the bloc's European Stability Mechanism said in a statement.

EU ministers to thrash out tax clampdown

BRUSSELS: As tens of millions languish on the dole with EU austerity blamed for deepening recession, finance ministers will switch their focus Tuesday from bailout negotiations to the pursuit of a trillion-euro annual tax-fraud bounty.

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.

Canada Adds 12,500 Jobs in April as Manufacturers Hire

Canadian employment rose in line with economist forecasts in April as manufacturers added the most jobs in 11 months, adding to evidence of a modest expansion.

Slovenia adopts austerity action plan to avert bailout

LJUBLJANA: The Slovenian government on Thursday adopted an action plan aimed at avoiding a bailout that included privatisations, tax increases and austerity measures.

Britain faces 'sink or swim moment' in global economic race, says David Cameron

The Prime Minister said the Government is driving through tax reductions, welfare reforms, infrastructure investment and trade deals to ensure the UK stays competitive globally.

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.).