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France to push for eurozone bonds
French president includes concept as part of growth measures to be debated at an informal summit, while US calls on Europe to resolve its debt crisis
Spain denies its banks need European aid
Finance minister says Madrid has no need to tap European funds to keep banks afloat as government admits 2011 budget deficit was larger than expected
Secret €100bn aid props up Greek banks
Extensive use of ‘emergency liquidity assistance’ to help banks in weakest economies has been one of less-noticed features of the eurozone crisis
Wen wants action to boost growth
Chinese premier’s comments are clearest indication yet that Beijing plans to take action. Economists warn any stimulus is likely to be cautious
EU summit hopes boost Asian stocks
Market gain as sentiment brightens ahead of Wednesday’s meeting at which EU leaders are expected to discuss ways to promote growth
Rental demand fuels US property market
Residential vacancy rates have dropped, rents are soaring and investors are driving up prices for buildings in many US cities
Brazil moves to boost car industry
The government has unveiled a stimulus package worth more than $10bn to revive its struggling automotive sector and stagnating economy
Youth unemployment to remain high until 2016
The ILO report will raise fears the economic crisis has created a “lost generation” of young people that could threaten social cohesion
Simple Thai dish stirs political spat
A gauge of living costs, a rice-based meal serves to expose the government’s difficulties in dealing with demands of supporters and business
Baghdad attacks Turkey oil pipeline plan
Iraq threatens to veto project announced by Kurdish oil minister, which could give Turkey direct access to 1m barrels per day of oil

Financial Market News from the Financial Times

EU summit hopes boost Asian stocks
Market gain as sentiment brightens ahead of Wednesday’s meeting at which EU leaders are expected to discuss ways to promote growth
Facebook shares drop below issue price
Shares in the social networking company, which raised $16bn in its initial public offering, lose 11% to fall below $38 issue price
Gold loses its hold over haven hunters
Demand for the yellow metal is ebbing but the possibility of a Greek exit from the eurozone and weakening US economic data could reawaken interest
Banks braced for fresh ratings cuts
Attention focuses on 17 investment banks that Moody’s placed under review in February, a move that threatens their access to cheap, short-term funds
Banks must regain investors’ trust
Lenders need to do more than react to the regulatory overhaul, they must adjust their business models if they are to regain trust, says Hugo Bänziger
Wheat extends rally on drought fears
Prices rise to their highest in nine months on worries about dry weather in Russia, Ukraine, Kazakhstan, as well as Kansas, the top US producer
Cash pulled from financial funds
Just under $1bn was withdrawn last week from mutual and ETFs that invest in banks, the biggest outflow since Lehman Brothers’ collapse
Wall Street rallies as sell-off subsides
S&P 500 moves strongly into positive territory, while Cooper is driven 25% higher by a deal for Eaton to buy the electrical equipment maker
Iron ore and coal hit by China deferrals
Customer delays and defaults on shipments have led to prices for the commodities dropping 12% since start of April, boding ill for blue-chip miners
Traders brace for further euro falls
Single currency falls as net short positions test record highs, and analysts turn their attention to sterling as eurozone crisis intensifies