U.S. economy stumbles in first-quarter, but prospects brighter

(Reuters) - The U.S. economy contracted for the first time in three years in the first quarter as it buckled under a severe winter, but there are signs it has rebounded and economists say it could grow as much as 4 percent in the current quarter.

Spanish economy posts third straight quarter of growth

(Reuters) - The Spanish economy grew between January and March, buoyed by recovering domestic demand and marking the third quarter of growth as the country shakes off a long-running recession, data showed on Thursday.

Bank of England chief Mark Carney warns of rising inequality as average US chiefs’ pay tops $10m

The Bank of England’s Governor Mark Carney has warned that a more unequal society was “amplifying the rewards of the superstar” as he pledged to help build a “more trustworthy” capitalism.

Canada's top banks agree to no-cost accounts for the low-income

(Reuters) - Canada's eight largest banks have agreed to provide no-cost accounts to 7 million low-income people, Finance Minister Joe Oliver said on Tuesday as part of the Conservative government's consumer protection agenda ahead of a 2015 election.

Obama congratulates new India PM Modi

Washington (AFP) - US President Barack Obama congratulated Narendra Modi and said he was looking forward to working with him after he was sworn in as Indian prime minister on Monday.

Euro-Area Periphery Hooked on BOJ Stimulus: Chart of the Day

Euro-area peripheral bonds are hooked on Japan’s monetary stimulus.

US claims win in car trade dispute with China

GENEVA (AP) — The United States claimed victory in a trade dispute Friday after a key panel ruled that China's anti-dumping duties on imports of American-made cars and sport-utility vehicles violate international trade rules.

China vows year-long terrorism crackdown after attack

Beijing (AFP) - China on Sunday vowed a year-long campaign against terrorism, days after attackers in the western region of Xinjiang killed 39 people in a suicide raid.

EU election casts shadow over euro zone as ECB meeting approaches

(Reuters) - Investors this week will be watching the results of elections that could deal a blow to political parties that are key to reform efforts in the European Union and could also fan instability in Ukraine.

Italian Bonds Fall as EU Elections Test Investor Demand

Italian government bonds fell for a second week, pushing 10-year yields up from near a record low, amid speculation results of European Parliament elections may derail the euro region’s recovery.

Putin tries to woo investors to Russia but many stay away

(Reuters) - President Vladimir Putin tried on Thursday to warm up relations with foreign investors chilled by the crisis in Ukraine, but many senior executives snubbed him by boycotting a conference billed as Russia's answer to Davos.

eBay faces backlash on hack delays

Online marketplace eBay is facing questions over its handling of a hack attack that exposed millions of passwords and other data.

Fed may need to update its interest rate guide

(Reuters) - Interpreting Federal Reserve policy is hard enough, but the central bank may need to dust off its 'How to' guide to explain the nuts and bolts of new tools it will use when it finally starts to raise interest rates.

What's really behind China's clash with Vietnam

Territorial conflict is an old story in the South China Sea, where several nations make conflicting claims on the region—and its oil and gas potential. But the escalating conflict between Vietnam and China is something new altogether.

Fast-Food Workers Stage Worldwide Protests Over Minimum Wage

Fast-food workers seeking higher pay protested around the globe at chains such as McDonald’s, Burger King and Wendy’s amid a broader debate about raising the minimum wage.

French government announces tax relief as euro election looms

(Reuters) - French Prime Minister Manuel Valls, struggling to win back disgruntled voters, said on Friday his government planned to exempt a further 1.8 million households from income tax, at a cost to the state of 1 billion euros ($1.4 billion).

Russia confirms sharp fall in growth

Russia's economy slowed sharply in the first three months of 2014 as the Ukraine crisis slammed business confidence and investment.

Italy's Berlusconi says he was forced out by EU 'plot'

(Reuters) - Former Italian prime minister Silvio Berlusconi repeated accusations on Wednesday that he had been forced out of office at the height of the euro zone crisis in 2011 as the result of a plot by European Union officials.

Saudi Arabia’s Oil Minister Ali al-Naimi Says His Country Will Supply More Oil If Ukraine Crisis Creates Shortage

Saudi Arabia, the world’s largest producer and exporter of oil, on Monday sought to reassure markets by stating that it is willing to increase the supply of crude if the ongoing crisis in eastern Ukraine created a shortage.

Japan Shows Resilience to Tax-Rise on Record Confidence Gain

Confidence in Japan’s economic outlook among taxi drivers and restaurant staff and other workers soared by a record in April, indicating the blow from last month’s sales-tax increase may be short-lived.

U.S. economic growth could top 3 percent in second quarter: Fed's Lockhart

(Reuters) - The U.S. economy could grow 3 percent or more in the second quarter of this year and the housing market is likely to pick up again after recent sluggishness, a U.S. Federal Reserve official said on Sunday.

Portugal Q1 jobless rate falls for fourth consecutive quarter

LISBON: Portugal's jobless rate fell for the fourth consecutive quarter in the three months that ended in March, to 15.1 percent from 15.3 percent in the previous quarter, data showed on Friday.

Yen at 85 Seen by Tokai Predicting BOJ Policy Miss: Japan Credit

The Bank of Japan’s failure to achieve its inflation target will see the yen rebound to the highest since 2012, reversing the results of its unprecedented stimulus, according to Tokai Tokyo Securities Co.

Aliko Dangote to invest $2.3bn in north Nigeria

Nigerian businessman Aliko Dangote has said that he will invest $2.3bn (£1.35bn) in sugar and rice production in the north of the country.

Lloyd's calls on insurers to take into account climate-change risk

Lloyd's of London, the world's oldest and biggest insurance market, has for the first time called on insurers to incorporate climate change into their models.

Big ANC majority could usher in South African economic reforms

JOHANNESBURG (Reuters) - In the 20 years since apartheid, South African jewellery designer Nthabiseng Xaba has gone from bank clerk to state employee to thriving entrepreneur - just the kind of economic improvement story the government wants to promote.

Portugal to Emulate Ireland in Exit From Bailout Program

Portugal will follow Ireland in exiting its three-year bailout program without seeking a precautionary credit line, after bond yields in peripheral Europe dropped to pre-crisis levels.

Side deals with Moscow thwart drive to wean Europe off Russian gas

(Reuters) - While officials in Brussels were calling for Europe to reduce its dependency on Russian natural gas and negotiate with Moscow as a bloc, Austria was quietly bypassing the European Commission to cut its own bilateral deal on building a pipeline.

Japan considers tax breaks to promote investment, help companies: report

(Reuters) - Japan is considering expanding tax breaks and loosening some rules to promote investment in start-ups as part of the second installment of the government's economic growth strategy, the Nikkei newspaper reported on Saturday.

Bank of England warns on house price 'correction'

The Bank of England has given a stark warning that the recent surge in house prices could end in a crash.

Jamaica scraps bank withdrawal tax

The Jamaican government has announced it is scrapping controversial plans for a tax on bank withdrawals.

Dutch PM threatened in 2012 to quit euro zone over reform contracts: newspaper

(Reuters) - Dutch prime minister Mark Rutte threatened in 2012 to take his country out of the euro zone if Brussels pushed forward with plans to impose "reform contracts" on member states, according to the daily De Volkskrant, citing several sources.