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Financial crisis

Fed likely to stick with low-rate stance this week
A combination of scant inflation and still-modest U.S. economic growth will likely lead the Federal Reserve this week to maintain its drive to keep ...
Cyprus tries to make politicians more accountable
Cyprus' president and other politicians will have their immunity from prosecution significantly curbed as part of a package of new reforms aiming to ...
Australia tax revenue falls as mining boom cools
Australia's government said Monday that its tax revenue has continued to fall in recent months as company profits declined and the mining boom that ...
Greek bill opens way for civil service layoffs
Greece's Parliament approved an emergency bill Sunday to pave the way for thousands of public sector layoffs and free up 8.8 billion euros ($11.
Italian policemen shot near new gov't swearing-in
In the very moments Italy's new coalition government was being sworn in, ending months of political paralysis in a country hoping to revive a bleak ...
Iceland returns center-right parties to power
In a dramatic about-face, Icelandic voters have returned to power the center-right parties that led the national economy to collapse five years ago.
Iceland opposition poised to win general election
Five years after Iceland's economic collapse, early returns signaled that austerity-weary voters are favoring the return of a center-right, ...
Moody's, S&P settle lawsuits over debt ratings
Ratings agencies Standard & Poor's, Moody's and investment bank Morgan Stanley have settled two lawsuits dating back to the financial crisis that ...
Economic crisis sets back peace in divided Cyprus
When the barriers carving Cyprus in half were finally breached 10 years ago this week, Turkish Cypriot Fethi Akinci forged what some might consider ...
After near-stall in late 2012, US economy picks up
After nearly stalling in late 2012, the American economy quickened its pace early this year despite deep government cutbacks. The strongest consumer ...
US economy accelerates at 2.5 percent rate in Q1
Americans shrugged off higher taxes to lift the U.S. economy at the start of the year. Government spending fell, though, and the impact of the tax ...
Spain slashes forecasts and delays deficit targets
Spain slashed its economic forecasts Friday and said it would take two years longer than promised to cut its swollen deficit in an acknowledgement ...
Merkel insists austerity part of Europe's cure
Chancellor Angela Merkel has underlined Germany's insistence that austerity is part of the solution to Europe's financial crisis but emphasized that ...
Swiss central bank keeps some gold in UK, Canada
The Swiss National Bank has for the first time disclosed where it stashes its 1,040 tons of gold, saying almost a third is kept overseas, in Britain ...
Berlusconi predicts success in Italian talks
Former Italian Premier Silvio Berlusconi predicted Friday that Italy would succeed in forming a governing coalition out of bitterly rival blocs ...
Spain's jobless above 6 million for first time
With more than 6 million unemployed for the first time ever, Spain's jobless rate shot up to a record 27.2 percent in the first quarter of 2013, the ...
Cyprus further eases limits on money transfers
Cyprus significantly eased restrictions on money transfers inside and outside the country Thursday to help businesses spur a deeply slumping economy.
Italy premier-designate short of securing support
Italy's premier-designate, Enrico Letta, said candidly Thursday he is still short of securing support for a ruling coalition after Silvio Berlusconi's ...
Sales inch up 1 percent at French retailer Kering
Kering says revenues rose 1 percent in the first quarter of the year, unusually little growth for the French luxury and retail group whose Puma brand ...
Portugal celebrates revolution, attacks austerity
Tens of thousands of Portuguese are marching through towns and cities in annual commemorations of the 1974 Carnation Revolution, which ousted a ...
German finance minister digs in on austerity
Germany's finance minister is insisting that Europe can't spend its way out of its economic problems — digging in against mounting criticism of the ...
Recession doesn't change students' econ savvy
The Wall Street meltdown of 2008 and the ensuing recession did little to help make high school seniors financially savvy and less than half of them ...
European recession hits major car makers
Europe's stubborn recession cut deeply into profits at major automakers Ford, Volkswagen and Daimler, first-quarter results showed Wednesday as the ...
Greek finance minister rejects tax relief call
Greece's Finance Minister has rejected a called from the government's Socialist coalition partners to add tax relief measures to a new austerity bill ...
UK in dark mood as new recession may be confirmed
Recession may just be a word. But in Britain it may become a habit — and a dangerous one at that. It's possible that official figures on first quarter ...