Italy economy seen shrinking at slower pace in Q2: Central bank

ROME: Italy's economy is expected to contract at a slower pace in the second quarter of this year and could stabilise in the second half, the deputy director general of the Bank of Italy Fabio Panetta said on Friday, citing analyst forecasts.

Five U.K. Banks Must Raise Extra $21 Billion Capital

Five U.K. banks must find 13.4 billion pounds ($21 billion) to plug a 27.1 billion-pound capital shortfall by the end of the year, the Bank of England said.

Euro crisis needs a continental solution

WASHINGTON (MarketWatch) — Angela Merkel seems surer than ever to win her third term as German chancellor in September, Antonin Samaras survived as prime minister after a court blocked his effort to shut down Greece’s state-run broadcaster, and Enrico Letta finally produced a “budget-neutral” package of measures to boost the Italian economy.

Greece TV: Samaras in crisis talks with allies

The Greek Prime Minister, Antonis Samaras, is holding crisis talks with coalition allies over his decision to shut down the national broadcaster.

Britain tries to stem tax dodges ahead of G8 summit

LONDON: Britain turned up the pressure on other rich economies to clamp down on secretive money flows at a summit next week by pressing its overseas tax havens into a transparency deal and announcing new disclosure rules for British firms.