Britain's booming housing market could be heading for a fresh crash, the Bank of England said in its toughest warning yet about the dangers of the return of rapidly rising property prices.
Euro zone inflation picked up in April, but remained below expectations, maintaining pressure on the European Central Bank (ECB) to stimulate the economy.
The average price of a house in England could double in the next decade and hit more than £900,000 by 2034, unless there is a radical new housebuilding programme to provide nearly a quarter of a million new homes a year, a report claims today.
The former chairman of the Federal Reserve defends policy prior to the global financial crisis.
Russia's economy was struggling even before the crisis in Ukraine, but things have now taken a turn for the worse, according to the International Monetary Fund. GDP fell in the first three months of 2014 and will fall again in the second quarter. According to the technical definition, that would amount to a recession.
The U.S. economy barely grew in the first quarter as exports tumbled and businesses accumulated stocks at the slowest pace in nearly a year, but activity already appears to be bouncing back.
Following a period of exuberance around Abenomics, Japanese Prime Minister Shinzo Abe's three-pronged economic revival program is now generating a sense of unease among investors.
Investors from the U.S. and Canada have dropped a lawsuit against embattled bitcoin exchange Mt. Gox and have instead agreed to back a plan to buy the company in the hope of clawing back their losses.
Britain's economy expanded for the fifth quarter in a row in the first three months of the year, although the growth rate disappointed.
The average price of a three-bedroom home in London's most expensive neighbourhoods has increased by £729 a day over the past year, according to estate agent Marsh & Parsons.
The price of oil jumped 8% at one stage on Thursday after Russian officials said they would discuss production cuts with Saudi Arabia and other Organisation of Petroleum Exporting Countries (Opec) at a meeting next month.
The World Bank has slashed its forecast for oil prices this year, saying the cost of a barrel of crude will stay near its current lows for the rest of 2016.