German consumer price index above forecast in February

German preliminary consumer price index (CPI) inflation rose 0. 1% year-on-year in February, compared with expectations of a 0. 3% contraction and after a 0. 4% decline in January.

US GDP falls from 2.6% to 2.2% in the fourth quarter

US gross domestic product in the fourth quarter fell to 2. 2% from a 2. 6% in the previous quarter, but above analysts' expectations of a 2. 0% reading.

German parliament approves 4-month extension to Greece's bailout

The German parliament has approved a four-month extension to Greece's bailout.

Greece will send reform plans to Eurozone finance ministers on Tuesday morning

Greece bailout will be extended for 4 months

Austria’s finance minister Hans Jörg Schelling said the Eurozone approved a four-month extension on Greece’s bailout, subject to Athens submitting details on the reform and budgetary measures it plans to take by Monday.

Eurogroup foresees 4-month extension to Greek bailout

Eurozone leaders agree on draft accord that could extend Greek bailout

Eurozone ministers gathered in Brussels have agreed a draft accord with Athens that could extend the Greek bailout, according to a Greek government official.

ECB says some members voted against QE package

Some members of the European Central Bank (ECB) voted against the quantitative easing programme in January, according to first minutes published by the monetary authority.

Fed minutes show no rush to raise interest rates

The number of Federal Reserve officials leaning toward keeping rates at zero "for a longer time" was higher than that of those who wanted to raise interest rates.

Torrance ExxonMobil Refinery bursts into flames following large explosion

The Torrance fire department rushed to quell flames from a large explosion at the ExxonMobilRefinery after residents heard the explosion reported tremors on Wednesday morning.

BoE's MPC voted unanimously to keep policy unchanged, minutes show

The Bank of England's Monetary Policy Committee voted to keep its policy unchanged at its 5-6 February meeting, minutes revealed on Wednesday.

Tories in four-point lead over Labour, poll shows

The Tories have a four point lead over Labour in a new poll published on Tuesday.

UK inflation is likely to fall further and interest rate hike likely in 2016, BoE says

The Bank of England (BoE) has indicated that the first interest rate hike is likely in 2016 and expects inflation to fall further in the near term.

ECB reportedly agrees up to €60bn emergency funding for Greece

The European Central Bank (ECB) has reportedly agreed to permit Greece's national central bank to provide up to €60bn in emergency funding to the country's lenders.

US crude oil tumbles 8.7%, as inventories jump to record high

Oil prices tumbled on Wednesday, bringing a four-session rally to an end, as US crude prices fell over 8%, their biggest one-day drop since November.

US service-sector growth accelerates in January, says ISM

Growth in the US services sector unexpectedly picked up slightly in January, though the pace of hiring slowed, according to the Institute for Supply Management (ISM).

US employers add less than expected jobs in January, ADP report reveals

US employers added 213,000 jobs in January, missing forecasts of 220,000, ADP revealed in its private payrolls report on Wednesday.

China cuts bank reserve ratio to stabilise economy

China’s central bank has cut banks’ reserve requirement ratio to help lift economic growth amid a slowdown.

US personal spending falls 0.3% in December

US consumer spending dropped more than expected in December to the most since 2009.