UK public finances improve in October as economy grows

The UK's public finances improved in October, as a recovering economy and housing market boosted tax revenues.

Euro finance ministers warn against complacency

Eurozone finance ministers warned against complacency Friday as the economy recovers from a record recession, insisting the return to growth does not mean that painful reforms can be relaxed.

China banks "significantly exposed" to shadow financing: Fitch

BEIJING (Reuters) - Chinese banks face growing risks as they are heavily exposed to the "shadow banking" being used by debt-laden local governments to raise funds, global ratings agency Fitch said on Wednesday.

EU total debt mounts, deficits ease in 2011

BRUSSELS: Eurozone member states did better last year at controlling their budget deficits but overall debt levels continued to rise well above EU limits even if the economy performed well in 2011.

Spain to Tighten Fiscal Screws

SINGAPORE—Spain's Finance Minister Luis de Guindos said Friday that his government would need to implement an additional €35 billion ($46.20 billion) of fiscal tightening this year and next to achieve its budget deficit goal.

Greek deal holdouts face long wait to pay day

LONDON, March 14 (Reuters) - For a small band of bondholders refusing to sign up to Greece's debt restructuring, past experience shows they could more than triple their investments, but may have to wait decades for a payout.

Nigeria economy picks up on non-oil sector growth

ABUJA/LAGOS (Reuters) - Nigeria's economy grew at a faster rate in the fourth quarter last year than the previous three months because of a stronger performance in the non-oil sector, particularly telecoms, data showed on Tuesday.