Deutsche Bank is to pay $202m (£125m) to settle charges it defrauded the US government over the resale of risky mortgages.

JPMorgan Chase, the biggest US bank, reveals a surprise trading loss of $2bn (£1.2bn) on complex investments made by its traders.

Major UK-based firms cut secret deals with authorities in Luxembourg to avoid paying millions in corporate tax in Britain, a BBC Panorama investigation finds.

India's SKS Microfinance says it will cut 1,200 jobs and close 78 branches in the state of Andhra Pradesh amid mounting losses.

Portugal adds to its austerity measures with the decision to suspend four of its 14 public holidays for five years.

China's inflation rate slows in April, raising hopes that the central bank will cut interest rates to sustain growth.

British economic historian Niall Ferguson is to present the BBC's 2012 Reith Lectures, in a series titled 'The Rule of Law and its Enemies'.

Sony shares tumble to a 31-year low, a day after the company reported a record annual loss of 456.7bn yen ($5.7bn; £3.5bn).