Federal Reserve Chairman Ben S. Bernanke said the U.S. economy remains hampered by high unemployment and government spending cuts, and raising interest rates or reducing asset purchases too soon would endanger the recovery.
U.K. inflation slowed more than economists forecast in April to a seven-month low and producer prices rose the least since 2009 as fuel costs fell.
At least 51 people were killed, including 20 children, after a massive tornado roared through Oklahoma City on Monday afternoon, flattening entire neighborhoods and crushing two elementary schools.
Yahoo announced a $1.1 billion deal for blogging site Tumblr early Monday, and said it "promises not to screw it up."
Insurance rating company A.M. Best Co. affirmed its top rating of Berkshire Hathaway Inc. on Wednesday but said CEO Warren Buffett’s importance to the company and a “lack of transparency” about his successor “definitely pose a risk to the organization and is a continuing concern.”
Bangladesh has agreed to allow garment workers to form trade unions in their factories without prior permission of the owners. Monday’s Cabinet decision comes a day after the government announced a plan to raise the minimum wage for garment workers following the deaths of more than 1,100 people in the collapse of a factory building.
Chrysler has issued a recall for over 469,000 older-model SUVs worldwide. Most of them need a crucial software update, while some other need new dust shields. 532 Ram 1500 pickups trucks also need to be inspected for possible faults with their windshield defrosting and defogging.
The United States warned Japan on Friday to stick to the rules when it came to the value of its currency, setting the stage for a potentially uncomfortable meeting of G7 finance ministers outside London.