Nine Dead After Israel Intercepts Convoy

At least nine activists were killed in a skirmish after Israeli forces intercepted a flotilla of aid bound for the Gaza Strip, in violence that risks inflaming tensions across the Middle East.

ECB: Banks to Suffer Major Loan Losses

Banks in the euro zone will suffer "considerable" loan losses this year and next, which could amount to an additional $239.26 billion in write-downs and could weigh on banks' profitability, the European Central Bank said.

Fed Officials Upbeat On U.S. Recovery

Two senior Federal Reserve officials were upbeat Monday about the U.S. economic recovery despite the worsening debt crisis in Europe, but gave no indication the Fed is anywhere near raising interest rates.

Overseas Sales Boost iPad

Apple said iPad sales have topped two million since its launch in early April, boosted by its debut in international markets.

Steel Prices Under Pressure

Steel mills are ramping up production quickly, prompting concern that supply will outpace demand and restrain prices.

Prudential, AIG Race to Rescue Asia Deal

U.K. insurer Prudential continued talks to restructure its troubled purchase of AIG's Asian life-insurance unit, but the huge deal still hangs in the balance.

ECB Sees Deep Loan Losses for Banks

Banks in the euro zone will suffer "considerable" loan losses this year and next, which could amount to an additional ?195 billion ($239 billion) in write-downs and weigh on banks' profitability, the ECB said.

India's Economy Bounces Back

The Indian economy grew 8.6% from a year earlier in the January-March quarter, driven mainly by strong performance of the manufacturing sector and a recovery in farm output.

BA Union Warns of More Strikes

Unite, the union that represents cabin crew at British Airways, warned of further strikes this summer unless a long-running dispute over changes in working practices is resolved.

Healthscope Gets New Bids

Healthscope said it received two new offers, valuing the company at $1.56 billion, as the battle for the Australian hospital company intensifies.

Bundesbank Attacks ECB Plan

The ECB's intervention in European debt markets is exacerbating tensions with Germany's Bundesbank, where officials worry that the bond buying program is being used for a stealth bailout of euro-zone banks.

BASF Names New CEO

The supervisory board of chemicals company BASF named Chief Financial Officer Kurt Bock to succeed CEO Juergen Hambrecht, putting an end to speculation about a replacement.