European banks face toughest stress tests yet

European banks must show they can survive simultaneous routs in bonds, property and stocks in the toughest test to date by regulators aiming to restore confidence in an industry that had to be rescued by taxpayers in the financial crisis.

Japan retail sales rise at fastest pace in 17 years before tax hike

(Reuters) - Japanese retail sales rose in March at their fastest pace in 17 years as consumers went on a shopping spree before a national sales tax hike took effect on April 1, setting the stage for a decline in consumer spending the following month.

Croatia Needs Consensus to Tackle Crisis, President Says

Croatia’s political leaders need to come to agreement on how to end the former Yugoslav republic’s longest economic recession on record and avoid “serious” social consequences, President Ivo Josipovic said.

China top leaders say to keep policy unchanged: Xinhua

(Reuters) - China is sticking to its current fiscal and monetary policy settings, the state news agency quoted top leaders as saying on Friday.

U.S. services sector expands at slower pace in April

(Reuters) - The U.S. services sector expanded in April at a slower rate than the previous month as employment creation decelerated, an industry report showed on Friday.

IMF says sub-Saharan Africa faces heightened risk of capital outflows

(Reuters) - Investment in infrastructure and natural resources will continue to underpin economic activity in sub-Saharan Africa, although capital outflows sparked by tighter global financial conditions pose a risk to growth, the IMF said on Thursday.

China factories extend slump

China's factories continued to struggle in April, according to an early gauge of activity in the country's all-important manufacturing sector.