Living wage increases to £7.85 an hour

The living wage has increased by 20p an hour to £7.85, boosting the pay of 35,000 low-paid workers in the UK.

Draghi flags ECB action next Thursday

FORTUNE -- European Central Bank President Mario Draghi dropped his clearest hint yet that the bank will take action next Thursday to ward off the threat of deflation and support the euro zone's faltering economic recovery.

IMF warns eurozone of risks to economy

PARIS: The International Monetary Fund is warning the 17 eurozone countries that their economies face a possible severe downturn unless more is done to improve growth and ease political tensions.

Osborne backs break-up of banks that fail to reform

The UK's big banks will be broken up if they fail to follow new rules to ring-fence risky investment operations from High Street outlets, Chancellor George Osborne has announced. He has said taxpayers are angry at banks' behaviour and will never again be expected to bail them out.

China to take further action to stabilise export growth: Wen Jiabao

BEIJING: China will implement new measures aimed at stabilising export growth in the third quarter, Premier Wen Jiabao said while visiting the export hub of Guangdong province on Saturday.

Barclays dragged into new probe after Libor blow

LONDON (Reuters) - Barclays Plc revealed a new regulatory probe and more U.S. lawsuits on Friday, making it harder for the British lender to rebuild its reputation damaged by the central role it played in the interest rate-rigging scandal shaking banks.

Global economy week ahead: Looking for takeoff in US jobs

WASHINGTON: Sorting out trends in the US labor market is tricky business these days. There is plenty of evidence to support the view that unemployment is stalled at 8.3 percent for much of the year, and a case to argue that job growth is poised for takeoff.