Employers took a large ax to their payrolls in January, the government said today, and the cuts are likely to get worse over the next few months. The Labor Department reported that mass layoffs,... [full story]

Homeowners should brace for another year of sliding real estate sales and prices across Canada, warns Bank of Nova Scotia senior economist Adrienne Warren. Ms. Warren is forecasting a drop of 15 to 20 per cent in the volume... [full story]

The rush by retail investors into bullion coins is creating shortages as mints across the world struggle to meet the surge in demand, dealers and mint officials say. The scarcity is lifting coin premiums to as much as 5... [full story]

Ukraine’s credit rating was cut two levels by Standard & Poor’s, a day after Latvia was downgraded to junk, because political turmoil poses growing risks to the country’s International Monetary Fund... [full story]

European Union officials are concerned that the pound’s slide to a record low against the euro could destabilize the British economy, according to a document prepared last month by European Commission and EU finance... [full story]

It works more like a sprinkler than a power hose, but the European Investment Bank has a role to play in preventing a financial inferno from sweeping across central and eastern Europe. The trouble is that politicians have... [full story]

Bank of America (BoA) will launch a legal battle to keep secret the details of $3.6billion (£2.5billion) in bonus payments after John Thain, the former chief executive of BoA's newly acquired Merrill Lynch business,... [full story]

Britain is in the grip of a deeper recession than had hitherto been thought, official figures show this morning. Data from the Office for National Statistics show that GDP fell 1.9 per cent in the fourth quarter of last... [full story]

We have reached the Goldilocks level for the Canadian dollar. After a dramatic, commodity-driven boom and bust, the loonie has settled into a comfortable trading range in recent months. The currency is trading slightly below... [full story]

Federal Reserve Chairman Ben Bernanke said he's hoping the recession could end later this year, but he cautioned that a full economic recovery will take "more than two or three years." Bernanke, speaking in front... [full story]