HSBC Has Processed All Outstanding Payments After Friday Glitch

HSBC Holdings Plc has processed all of the 275,000 payments from U.K. business customers that it failed to complete on Aug. 28 after a software problem caused delays.

Britain's economic growth accelerates in Q2, helped by trade

LONDON, Aug 28 (Reuters) - Britain's economy gathered speed in the second three months of 2015, boosted by a jump in exports and business investment in the latest sign that the recovery is broadening out.

Ukraine agrees 'win-win' debt restructuring deal

Ukraine’s finance minister said a “win-win” deal for restructuring $18bn (£11.6bn) of debt had been agreed with a group of its largest creditors, involving a 20% reduction in the total to be repaid.

'Bad bank' path worn by Ireland and Spain looks steep for Greece

LONDON (Reuters) - Greece is under growing pressure to take care of banks' problem loans so they are free to lend again, but the depth and complexity of its crisis will make it tough to replicate the comprehensive "bad bank" models set up in Ireland and Spain.

World Leaders Have No Words of Wisdom on Rout Spooking Investors

It’s wiped out more than $8 trillion in the value of global equities, leaving virtually no market unaffected, yet reaction from world leaders so far has ranged from muted to dismissive.

FOREX-Euro, yen rally as risk aversion intensifies, Aussie sinks

SYDNEY, Aug 24 (Reuters) - The euro hit a 6 1/2-month high and the yen hit a 1 1/2-month high against the dollar on Monday as investors dumped risk assets and flocked to currencies often seen as safe havens.

German private sector growth picks up in August - PMI

BERLIN,(Reuters) - Stronger-than-expected growth among manufacturers helped Germany's private sector expand at a faster rate in August, a survey showed on Friday, suggesting Europe's largest economy is on track for a solid third quarter.

UK retail sales volumes rise by 0.1%

UK retail sales volumes rose by 0.1% in July, after falling the previous month, the Office for National Statistics (ONS) has said.

Euro Borrowing Costs Fall to Five-Month Low Versus Dollar Bonds

The cost of borrowing in euros has dropped to the lowest since March versus the dollar as issuance in Europe trails the U.S. and the Federal Reserve moves toward raising interest rates.

Europe Reaches Agreement on New Rescue Package for Greece

European governments agreed on a third aid deal for Greece, signaling a determination to keep the country in the euro and setting aside doubts about its ability to repay its debts.

Hungary GDP Growth Slows More Than Forecast in 2Q on Agriculture

Hungary’s economy grew less than forecast by analysts as a drop in agricultural output pushed the pace of expansion below 3 percent for the first time in seven quarters.

Greek economy surprises, returns to growth in second quarter

Greece's economy unexpectedly returned to growth in the second quarter despite political turmoil and the threat of a Greek euro zone exit, data showed on Thursday.

Bank of England to examine whether financial reforms have held back growth

Mark Carney has told the government that the Bank of England is to examine whether policies intended to strengthen financial stability in the economy have held back economic growth.

Euro Area’s Four Biggest Economies Are All Growing

Mario Draghi could be forgiven for lingering a little longer on the sun lounger this August. For the first summer since he took office as president of the European Central Bank, the region’s four biggest economies are posting growth, spurred by a weaker euro and lower oil prices that are boosting consumer spending.

German trade surplus to rise to new record in 2015 - magazine

BERLIN (Reuters) - Germany's trade surplus is expected to rise to a new record in 2015 thanks to falls in the prices of imported oil and gas, Der Spiegel reported on Saturday.

UK industrial output falls in June

UK industrial output fell 0.4% in June following a drop in oil, gas and mining production, according to figures from the Office for National Statistics (ONS).

Europe Index Futures Advance, Signaling Stock Rally to Resume

European index futures climbed, indicating equities will resume a rally that got paused on Tuesday.

UK asks austerity-weary workers to suggest new budget cuts

Imagine your pay has been frozen for years and thousands of colleagues have been let go. Then your boss asks you for ideas on how to save even more money.

Hungary End-to-Easing Pledge Helps Forint Dodge Currency Rout

Hungary’s forint gained, extending the biggest monthly advance in emerging markets, after the central bank pledged to end a cycle of interest-rate cuts.

Greek debt crisis: IMF wary of third bailout

The International Monetary Fund (IMF) is very wary of any financial contribution to a third Greek bailout.

Cameron clean-up plan won't stop dirty money, say critics

David Cameron's plans to crack down on "dirty money" being used to buy UK property have been criticised by tax and property experts.

Eurozone outlook improves, International Monetary Fund says

The outlook for the eurozone has improved, says the International Monetary Fund (IMF), thanks to a falling oil price, a weaker euro and action taken by the European Central Bank (ECB). It predicted that growth would pick up to 1.7% next year, from 1.5% this year.

Black economy clouds Spain's recovery from crisis

Madrid (AFP) - Many of Spain's five million unemployed dream of finding a steady job in the economic recovery vaunted by the government -- but a legion of undeclared workers still scrape by cash-in-hand.

Greek debt crisis talks stall over choice of hotel

In an inauspicious start to talks over awarding Greece a third bailout, international officials have postponed the negotiations after failing to agree with their hosts where they will stay and how they will operate when in Athens.

Forex traders have been shocked into behaving themselves but it might not last, says BoE director

Forex traders are behaving themselves in the wake of a series of fines and investigations, according to Chris Salmon, the Bank of England’s markets boss.

ECB Welcomes Greek Bank Resolution Bill With Legal Qualms

The European Central Bank welcomed Greece’s draft legislation to bring its bank-resolution rules into line with European Union law, while warning some provisions could harm the independence of the local monetary authority.

Germany is feasting on the rest of Europe

The situation in Athens seems to have calmed down, but former Federal Reserve Chairman Ben Bernanke thinks Europe has an even bigger issue to worry about: Germany.

A Tightrope for Europe’s Central Bank Chief

Central bankers sometimes distinguish between peacetime, when economies are running relatively normally, and war, when there is a financial crisis.

Greece pledges to get rid of tax evasion as a way of life

ATHENS, Greece (AP) — Dimitris Bokas keeps meticulous records of the bathroom fixtures he sells from his small shop in the quiet middle-class residential neighborhood of Koukaki near the center of Athens — just in case a tax inspector makes a surprise visit to ensure Greece's 23 percent sales tax is being collected and reported correctly.

German Investor Confidence Falls a Fourth Month on Greece

German investor confidence fell less than forecast in July, signaling optimism that the economy can cope with any fallout from Greece’s financial crisis.

European Central Bank, Potential Rescuer, Remains Wary

Among its many proposed measures, the eurozone’s agreement on Greece calls for an overhaul of the country’s rickety banking system.

Eurozone talks on Greece need 'a lot more progress' before possible deal

Talks aimed at preventing Greece from leaving the eurozone and collapsing into bankruptcy are on a knife-edge amid widespread scepticism from the country’s creditors about whether Athens can deliver on its promises.

Greek proposals no basis for further talks, senior German conservative

BERLIN (Reuters) - Greece's latest reform proposals are no basis for further negotiations on a third bailout program, a senior German conservative lawmaker told Reuters on Friday, adding that Greece would do better to aim for a new start with its own currency.

George Osborne introduces new 'living wage' but cuts working-age benefits

George Osborne has unveiled an unexpected boost for low-paid workers, introducing a compulsory national “living wage” in a budget that also contained an assault on many of the measures introduced by Labour to tackle poverty.

Central Banks Across the World Pressured to Fight Against Euro Depreciation

Greece’s debt turmoil has found a favorite conduit for spreading contagion: the $5.3 trillion-a-day foreign-exchange market.

Greece's vote edges it towards euro exit, but the odyssey is far from over

Greece’s membership of the euro hangs by a gossamer thread after the victory for the no side in the country’s referendum. The cash machines are running out of money and the economy is in freefall.

Greek debt relief was not on table during bailout negotiations, says EU official

Debt relief was not on the table during negotiations to extend Greece’s existing bailout programme and agree a package of reforms needed to unlock its remaining funds, according to a senior EU official.

Euro zone inflationary pressures at four-year high - ECRI

LONDON (Reuters) - Euro zone inflationary pressures are at a four-year high, suggesting the European Central Bank's trillion-euro bond-buying programme is working, an indicator designed to predict cyclical trends showed on Thursday.

The euro is only headed down: Goldman

Amid Greece's Sisyphean drama, the euro has been like a brick-you can throw it, just not very far.

Greece debt talks: EU chief feels 'betrayed'

The European Commission chief, Jean-Claude Juncker, has said he feels "betrayed" by the "egotism" shown by Greece in failed debt talks.

IMF 'ready to provide assistance' in Greek crisis: Lagarde

Washington :- The International Monetary Fund is carefully monitoring the unfolding financial crisis in Greece and neighbouring countries, and is ready to provide assistance “as needed,” Managing Director Christine Lagarde said today.

Amid cries of blackmail, glimmers of Greek debt hope emerge

Greek Prime Minister Alexis Tsipras accused international creditors of "blackmail" on Friday after euro zone partners warned Athens it had 48 hours to accept a cash-for-reform deal or plunge toward default next week.

David Cameron accepts EU treaty change delay

David Cameron has accepted there may be no change to the EU's treaties to accommodate Britain's demands ahead of a referendum, the BBC understands.

Eurozone leaders echo hopes for Greek deal

Eurozone leaders have echoed hopes that a deal can be struck within days to stop Greece defaulting on its debt.

Greece submits fresh plan on eve of EU emergency summit

Greek Prime Minister Alexis Tsipras presented new proposals to European leaders Sunday aimed at ending his country's debt crisis, on the eve of a summit that could determine whether Greece crashes out of the eurozone.

French growth picking up, soon to halt jobless rise - INSEE

PARIS, (Reuters) - France's economy will expand fast enough in the second half of the year to halt the rise in unemployment, albeit with joblessness topping 10 percent, the national statistics office INSEE said on Thursday.

Greek debt: Fears grow over Greek banks' health

Fears are growing over the health of Greek banks after indications that savers have withdrawn billions of euros in the past week.

Top European court throws weight behind ECB in fighting crises

LUXEMBOURG/FRANKFURT (Reuters) - The European Central Bank won crucial backing from Europe's top court on Tuesday for its pledge to do whatever it takes to save the euro, defeating a German group's challenge as bloc member Greece edges dangerously close to default.

Ruble Is Elephant In Room as Russia Invokes Inflation Threat

Russia’s central bank Governor Elvira Nabiullina cited the threat of inflation as she warned future interest-rate cuts would be smaller and fewer. Economists see a different reason: the ruble.

Greek banks see deposit outflow of $449 million on Monday: bankers

ATHENS (Reuters) - Greek banks saw deposit outflows of about 400 million euros ($449 million) on Monday as the pace of withdrawals picked up from last week after talks with the country's creditors over an aid-for reforms deal broke down on Sunday, bankers said.

S&P cuts UK outlook amid EU referendum warning

David Cameron’s decision to hold a referendum on EU membership has put Britain at greater risk of losing its triple-A credit score, according to Standard & Poor’s, the only big ratings agency to still give Britain the top ranking.

European Stocks Little Changed After Rebound From Six-Day Drop

European stocks were little changed, after posting their biggest jump in a month, amid ongoing negotiations over Greece’s financial aid.

Greece deal nears as PM warns of eurozone collapse

Brussels (AFP) - The EU's top official for the euro said Tuesday that Greece and its creditors could be just days from reaching a bailout deal as Prime Minister Alexis Tsipras warned that failure could sink the eurozone.

Britain leaving EU would affect credit rating, says Moody's

A vote to leave the EU could cut the UK’s credit rating, according to the ratings agency Moody’s, which has waded into the debate with a warning about rushing the referendum.

Germany's bickering Eurosceptics squander chance to cash in on Greek crisis

BERLIN (Reuters) - As Greece stumbles towards bankruptcy, a Eurosceptic party bent on breaking up the euro zone should be enjoying its golden hour; but instead the Alternative for Germany (AfD) is mired in such bitter personal feuding it teeters on the verge of collapse itself.

French Economy To Benefit From Weaker Euro, Favorable External Environment

The Bank of France sees strong economic growth this year as it gain strength from a favorable international environment and the weaker euro.

Greek debt crisis agreement in sight - Tsipras

Greek Prime Minister Alexis Tsipras says talks in Brussels on Greece's debt crisis were "constructive" and he believes "an agreement is in sight".

Britain can afford to live with high debt 'forever', says IMF

George Osborne's obsession with reducing Britain's debt mountain may do more harm than good, research by the International Monetary Fund (IMF) has suggested.

Greek uncertainty weighs on equities; inflation lifts euro

NEW YORK (Reuters) - U.S. stocks dipped on Tuesday while German bond yields rose as investors searched for clarity over whether a high-level meeting on Greece's debt crisis might yield a significant breakthrough.

Germany, France Urge Recalculation of EU Asylum-Seeker Quotas

Germany and France called for the recalculation of proposed quotas for dispersing political refugees across Europe, in a tussle over sharing the burden of coping with migrants from the Middle East and northern Africa.

ECB Keeps Europe’s Bond Traders Guessing on Frontloading Policy

The European Central Bank’s fine-tuning of its bond-buying program is starting to unsettle traders in the region’s debt markets.

The G-7's Problem: Can the World Deal With a Greek Default?

When the world’s top finance ministers and central-bank chiefs meet in Dresden this week, they may struggle to stick to an agenda set by their German hosts that doesn’t mention Greece.

Ruble Falls Fifth Day as Russia Efforts Damp Carry-Trade Appeal

The ruble weakened for a fifth day as Russian government and central bank efforts to stem the currency’s gain damped its carry-trade appeal.

U.K. Labour Drops Opposition to Referendum on EU Membership

The U.K. Labour Party dropped its opposition to holding a referendum on Britain’s membership of the European Union, reversing a position it held before the general election.

German Bonds’ Turbulent Week Ends With Rally as Rout Seen Over

Germany’s government bonds rose for the first time in three days, ending a turbulent week in which European Central Bank officials reiterated their commitment to a debt-purchase program amid signs of an uneven economic recovery.

EU referendum: Airbus UK chief warns Brexit would hurt jobs and investment

The head of Airbus in the UK has warned that the defence and aircraft company would reconsider its investment in the country in the event of Britain leaving the EU, saying such a move would be destructive with “enormous ramifications” for the UK’s long-term future.

Banks Seen Fueling U.K. Property Risk With Loose Loan Safeguards

Banks are relaxing safeguards as they boost lending to commercial-property developers in the U.K., fueling concern they’re sowing the seeds of another real estate collapse.

Europe car sales shows broad-based rise in demand - ACEA

New car registrations in Europe rose 6.9 percent in April, industry data showed, on growth in large markets like Italy, France, Germany and Great Britain, and as demand for mass market brands like VW outpaced sales of premium vehicles.

European Stocks Decline With BHP Billiton, Energy Producers Down

European stocks fell for a fourth time in five days.The Stoxx Europe 600 Index dropped 0.2 percent to 395.7 at 8:10 a.m. in London as energy producers fell 0.4 percent as a group.

German econmin says Greece can only get more aid if it reforms

BERLIN: German Economy Minister Sigmar Gabriel warned the Greek government that Greece could only get further funds if it carried out reforms in a German newspaper interview published on Sunday.