Mariano Rajoy said financial aid to banks will shore up ailing economy

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Source: The Wall Street Journal
Spanish government agreed on Saturday to accept $125 billion in financial aid for Spanish banks. Prime Minister Mariano Rajoy said on Sunday that the EU bailout for the ailing banks will prop up the country's economy. "It will allow the restarting of credit to families, entrepreneurs, small and medium-sized businesses so that they can all carry out their projects," Mr. Rajoy said. 
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Mon, 11 Jun 2012 06:09:36 GMT

Chinese exports climbed in May

China's exports accelerated in May faster than economists had predicted. Exports added 15.3% when compared to a previous year, customs bureau reported on Saturday. Meanwhile the retail sales and industrial output were slightly weaker than expected, confirming the PBOC decision to reduce interest rate.  

Fri, 08 Jun 2012 20:24:29 GMT

U.S. trade balance decreased more than expected

On Friday, the Bureau of Economic Analysis reported that the United States' trade balance declined from −52.6 billion last month to −50.1 billion, which is more than expected since analysts had predicted it to be −49.5 billion. The figure for the preceding month was revised from −51.8 billion.

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