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Italian economic growth slowed to 0.2 per cent in the second quarter after seeing 0.3 per cent in the first quarter. The single currency did gain back some ground in the second quarter, rising just over 2 percent, but since the start of the year it is down nearly 6 percent.

This week’s surprise devaluation of the yuan, also known as the renminbi or people’s currency, came after the central bank said it wanted the exchange rate to reflect market forces. The spot market opened at 6.3990 per dollar and was changing hands at 6.3996 in the...

The bill on the rescue deal passed just in time for Greek Finance Minister Euclid Tsakalotos to head to Brussels to meet his counterparts from the 19-country currency union in the hope of getting their seal of approval as well.

To qualify for its third bailout in five years, Greece must agree to sweeping changes to the way it manages its economy.

European stocks were still poised for their worst week in four, though, after China’s surprise currency devaluation on Tuesday.

Inflation continued to undershoot the ECB’s medium-term target of just below 2 per cent despite a series of unprecedented measures by the central bank, including a massive quantitative easing program that allows the ECB to purchase government bonds and private debt...

The German economy gained modest ground in the second quarter, expanding by 0.4 per cent compared with 0.3 per cent in the first three months of the year, but the French economy ground to halt. Output had been expected to rise by 0.2% following growth of 0.7% (revised up from...

Analysts surveyed by dpa-AFX had expected second-quarter growth would come in unchanged at 0.4 per cent.

This means the country would not get its debt pile down to 120pc of GDP – long viewed by the global Monetary Fund (IMF) as the target to get Athens back to a sustainable debt level – until 2030, two decades after the country’s first bail-out.

Amid concerns over low inflation and slowing growth in Asia, the Bank of England’s policymakers voted 8-1 to leave the rate at 0.5 percent for a 78th consecutive month and opted not to pump more money into the economy.

The economy grew by 0.4 percent on the quarter between April and June after expanding by 0.3 percent in the first three months of 2015.

After China’s surprise devaluation of the yuan, U.S. financial markets have slightly pushed rate hike expectations to December. Neither of these has reached a satisfactory level by Fed measures.

The move hit global equities, prompting some investors to seek safe-haven assets such as gold which has now recovered around 3 percent from a 5-1/2-year low of $1,077 during a late July rout. The currency fared worse in global trade, touching 6.5888 yuan per dollar, its lowest...

Recently, it has suffered the most challenging losses since 1999.

The Federal Reserve is expected to raise its key interest rate next month for the first time in nearly a decade.