Greece euro exit fears grow on political stalemate
ATHENS - Greece's president meets little enthusiasm from political leaders summoned to a final round of talks to avert a new election, reinforcing fears the country is firmly on the path to bankruptcy and an exit from the euro zone. Full Article
JPMorgan executives to leave over trading loss - sources
LONDON/NEW YORK - JPMorgan will move to limit the fallout from a shock trading loss that could reach $3 billion (1 billion pounds) or more by parting company with three top executives involved in its costly failed hedging strategy, sources close to the matter said.
Over-complex EU keeps making same mistakes
PARIS - When things go wrong, the EU reflex is never to scrap the policy, since vested interests rule out going back on previous achievements. The default response is always "more Europe", though not necessarily the most straightforward solution. Full Article
Euro turmoil boosts London property stampede
Worsening financial and political turmoil in southern Europe caused a surge of interest in London property last month with buyers from Greece and Spain showing strongly among investors seeking a safe haven for their money. Full Article
German state election rebukes Merkel
DUESSELDORF, Germany - Chancellor Angela Merkel's conservatives suffer a crushing defeat in an election in Germany's most populous state, a result which could embolden the left to step up attacks on her European austerity policies. Full Article
China growth risks signal need for fiscal action
BEIJING - China may need a back-up plan to stop economic growth being cut short by a surprise dip in demand at home and abroad that suggests monetary policy easing steps taken since the final quarter of last year are insufficient to deal with the downturn. Full Article
Scientists urge action on world's big problems
Scientists from 15 countries are calling for a better political response to the provision of water and energy to meet the challenge of feeding a world of 9 billion people within 30 years. Full Article
Champions City must live within their means
After winning the English league title for the first time in 44 years, Abu Dhabi-owned Manchester City must build on their success while reining in the lavish spending that has made it possible. Full Article
Breakingviews: JPMorgan hammers another nail in VaR coffin
May 14 - JPMorgan's $2 bln loss may have dealt a fatal blow to Value-at-Risk. Breakingviews' Robert Cole assesses whether the alternatives are any better.
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Greece nears end-game
Fresh elections in Greece look a certainty, raising the probability of default and euro exit. And Angela Merkel suffers an election blow. Video
How to protect the euro from a Greek exit
The chances of Athens quitting the euro have shot up. Unless the rest of the euro zone is well prepared, the knock-on effect will be devastating. Fortunately, it’s not too difficult to construct a contingency plan. Commentary
JP Morgan - when basis trades blow up
After announcing a $2 billion trading loss in what was described as a hedging strategy gone bad, JP Morgan CEO Jamie Dimon said he should have been watching more closely “trading losses - and newspapers”. It wasn’t a joke. Once your positions become public knowledge, the market will smell blood. Commentary
Hollande’s programme marks return of the Ancien Regime
The new French president promises he is going to balance the budget in 2017 with the familiar prayer of tax-and-spend governments the world over. How on earth is this fiscal miracle of a balanced budget going to be achieved, given the raft of spending commitments which so delighted Socialist voters? Commentary
Instagram's Facebook filter
Many see Facebook’s billion-dollar purchase of Instagram, given the social networking giant’s forthcoming IPO, as Mark Zuckerberg looking to boost mobile engagement. But even though Instagram may have had millions of users, it was really built for just one customer: Facebook. Commentary
What price beauty?
The $120 million sale of Munch’s “The Scream” shows the elite art market is effectively serving one social function: giving the rich symbols of affluence. The market for mass art also works well, by some standards. But industrial production has not served the pursuit of the beautiful. Commentary
India's "Queen of Democrazy" at the crossroads of change
KOLKATA, India - Mamata Banerjee, the diminutive chief minister of West Bengal, is seen by supporters as a hero who ended over three decades of communist rule in the Indian state. But after a series of erratic moves, critics see an autocrat in the making. Full Article
Got 48 hours to explore a city?
Want to mix business and pleasure? Local Reuters correspondents suggest 48-hour itineraries in city hubs and off-radar destinations in our latest batch of Travel Postcards. Full Coverage
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