- US Economy Shrinks at 5.7% Rate in First Quarter – Euro Zone Annual Inflation Drops to Zero in May – Time Warner to Spin Off AOL – US Durable Goods Orders Up, Jobless Claims Down
- Japan’s Export Slump Eases Slightly in April – Bank of America Corp Raises 76% of Capital Required by Federal Reserve – US Consumer Confidence Soars, Beats Forecasts – Bank of Montreal Posts Better-Than-Expected Quarterly Profit
- American Express to Slash 6% of Global Workforce – US Housing Starts, Building Permits Sink to Record Lows – Home Depot Sees Better-than-Expected First Quarter
- AIG Plans IPO for Asian Subsidiary – Lowe’s Companies, Inc Profits Exceed Estimates – Volkswagen Suspends Porsche Talks stating “the atmosphere is not a constructive one”
- US Jobless Claims Rise Unexpectedly – Sony Posts First Loss in 14 Years – BT Group Plc Cuts Dividend and Announces More Job Cuts
- European Commission Fines Intel Corp EUR 1.06B – US Retail Sales Fall For Second Straight Month in April – Japan’s Current Account Surplus Contracts By Record 48.8%
- Centrica to Purchase 20% Stake in British Energy – US Trade Deficit Widens in March, First Time in Eight Months – China’s Exports Decline 22.6% in April – Bank of America Sells USD 7.3B Stake in China Construction Bank
- Toyata Motor Corp Sees Wider-Than-Expected Quarterly Loss – US Jobs Down Less than Estimated Signaling Economic Downturn – US Banks Raise Capital After Stress Test Results
- European Central Bank Cuts Interest Rates to 1% – Anheuser-Busch InBev Inc Finds Buyer For South Korean Unit – General Motors Corp Loses Another USD 6B
- Wal-Mart Opens Convenience Stores in China – US Private Sector Cuts 491,000 Jobs, Less Than Expected – Bank of America Corp to Need USD 34B of Capital