May | featured news

Existing home sales in the U.S. rose in May for a second month as record foreclosures caused prices to drop.

The number of newly laid-off Americans filing jobless claims fell more than expected last week and retail sales grew in May for the first time in three months, fresh evidence that the worst of the recession may have past.

The U.S. unemployment rate was the highest in 26 years, the government said on Friday, but the loss of 345,000 jobs in May, fewer than expected, was seen as a sign that the job market was no longer in free fall.

AP - Many U.S. retailers are reporting sales declines in May as shoppers continue to shop cautiously.

U.S. consumer confidence soared in May to its highest level in eight months as severe strains in the labor market showed some signs of easing, though Americans' moods remained depressed by historical standards.

May Day protesters clashed with riot police in Germany, Turkey and Greece on Friday while thousands angry at the government's responses to the global financial crisis took to the streets in France.