Christine Lagarde has crossed the Atlantic to swap her job as a French minister for a place in the global economic elite at the head of the International Monetary Fund.

But she has never been able to leave behind one extreme headache: Greece.

U.S. online giant eBay said Friday its board approved the planned spinoff of its PayPal online payments unit, which will trade as an independent company July 20.

The plan calls for the distribution of PayPal stock to eBay shareholders on July 17, with the financial unit starting to trade under the symbol PYPL on July 20.

Air France on Friday denied a report that it was preparing to lay off 3,300 employees as part of continuing cost cutting at the French flag carrier.

An email sent by the company said Air France "formally denies information published in the press" Friday, when the Le Monde daily reported the airline was preparing "3,000 ground crew departures and 300 among pilots."

Greece is being put before a "clearly unviable" agreement by its EU-IMF creditors but remains committed to staying in the eurozone, Finance Minister Yanis Varoufakis told Irish radio on Friday.

"The Greek side has bent over backwards to accommodate some rather strange demands by the institutions. It is now up to them to come to the party," he told the public broadcaster RTE.

Loans to the private sector in the euro area, a gauge of economic health, have started growing again, suggesting the European Central Bank's monetary policy is gradually working, ECB data showed Friday.

After long months of contraction, the volume of loans to private businesses and households increased by 0.5 percent May compared with the same month in 2014, the ECB said in a statement. 

Japanese inflation remained tepid while spending rose after 13 months of falls, official data showed Friday, with analysts predicting more easing ahead as the central bank tries again to build up a head of steam.

Core inflation, excluding volatile fresh food prices, was up 0.1 percent year-on-year, beating market expectations for zero growth but coming still well short of the Bank of Japan's 2.0 percent target.

Nearly $3 billion generated from China's state lotteries -- a quarter of the funds they raised in recent years -- have been "misappropriated" through embezzlement and other abuses such as buying cars, state-run media said on Friday. 

A total of 16.9 billion yuan ($2.7 billion) raised by lotteries was used illegally, the government-published China Daily said, citing official auditors.

Britain's Conservative government on Thursday said it planned to privatize its 'green' investment bank set up three years ago to financially support environmentally-friendly infrastructure.

Finance minister George Osborne said the money raised from selling shares in the bank would be used to reduce the country's national debt.

U.S. and Chinese negotiators bridged some differences over economic policy in annual bilateral talks Wednesday, even as the two countries continue to wrestle with major strategic disagreements.

Both sides suggested they closed gaps in talks on a bilateral investment treaty (BIT) following the talks. 

North Korea's showcase new airport terminal, which had to be partly demolished and rebuilt at leader Kim Jong-Un's whim, is to open on July 1, state media said Thursday.

Kim called for a grand opening of the new Terminal 2 at Pyongyang International Airport on a tour accompanied by his wife Ri Sol-Ju and sister Kim Yo-Jong as well as senior party officials, the Korean Central News Agency (KCNA) said.