IMF criticises EU debt and deficit rules

EU fiscal rules too complex and rigid, say fund staff

US economy contracts in first quarter

GDP is revised to a 0.7% fall amid a strong dollar and bad weather

Green under fire over Corfu death donation

Family rounds on former Thomas Cook boss over lack of consultation

Osborne wants more Whitehall cuts

Departments asked for savings as chancellor aims to axe deficit

UK banks back in favour as scandals abate

Lenders’ stocks are potential star performers as economy improves

Tehran’s trendy Mohsen gallery is a magnet for the city’s youth
©Kaveh Kazemi

Iran’s ‘Generation Normal’

Young Iranians are curious, wired and desperate to live a ‘normal’ life — to the horror of their rulers

Greek exit is ‘a potential’, says Lagarde

IMF offers Athens more time to repay its June debts

The Financial Reporting Council said a third of the audits it inspected needed improvement
©Charlie Bibby

Watchdog finds flaws in UK audits

FRC ‘concerned’ that third needed more work

Labour leadership hopefuls woo business

Burnham and Cooper attempt to leave Miliband era behind

Foreigners pile in as China stocks stumble

More than $4bn flows into equity funds in the past week

Used bags hold secrets of Japan’s economy

Fortunes of luxury thrift store point to shifts in consumer behaviour and a brightening mood

Comment & Analysis

Andrzej Duda, accidental president

Europe waits to see whether a sometime liberal will pick up Poland’s nationalist flame

Kambiz Hosseini at PopTech in Camdem, Maine

Fighting the crisis of liberalism, one suicide-bomber joke at a time

The drawbacks and advantages to being a satirist from a deeply authoritarian state.

Walsh tempers tactics for Aer Lingus test

Airline executive faces challenge in shepherding takeover

Best comments from our readers

"This talk of 10-week holidays but high productivity does make me think who has gotten it right. On the one hand it does make the French seem lazy and inefficient by getting so much time off but if they can still get the necessary work done but be able to enjoy life outside of work that much more, then perhaps they do have a better system set up."
By Porkchop on French utility EDF seeks to cut workers’ 10-week holiday quota

"Something tells me central bankers, like jugglers, are wont to keep the balls of both equities and bonds in the air and not let any of them fall. When one falls everything falls. So investors would do well to stay where they are and pray for the best. You hardly have a choice. There is no hiding place"
By Trutheludes on Investors are playing a ‘greater fool’ game

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