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  Bloomberg European Union finance ministers split over whether to impose restrictions on banks’ holdings of government bonds, as German Finance Minister Wolfgang Schaeuble found scant support from skeptical colleagues for his push to overhaul existing rules. The Netherlands, which holds the EU’s rotating presidency, laid out five options for tackling the risks posed by banks’ state-debt pile for the ...

  AFP Persistent worries about the global economy and the possibility of Brexit — Britain’s pullout from the European Union — will probably keep the Federal Reserve on hold this week as it reviews interest rates. The policy-setting Federal Open Market Committee will also be buying time to be sure the US economy picks up from a modest first-quarter slowdown ...

  AFP General Motors reported soaring first-quarter earnings, easily topping expectations as it broke even in Europe and scored more banner results in North America. Earnings came in at $2.0 billion, compared with $0.9 billion in the year-ago period. Revenues were up 4.5 percent to $37.3 billion. GM boasted record pre-tax profits in North America of $2.3 billion. Auto deliveries ...

  Bloomberg Regulators around the world are getting tougher on automakers after a series of cheating scandals on fuel economy and emissions, with China set to become the strictest, according to Ford Motor Co. Chief Executive Officer Mark Fields. “The regulatory environment around the world is becoming more and more strict, particularly on things like greenhouse gases and fuel economy,” ...

  Bloomberg Puerto Rico’s Government Development Bank, operating under a state of emergency to preserve cash, is about halfway toward reaching a forbearance agreement with creditors, according to an official. The GDB, which lent to the commonwealth and its municipalities, owes $422 mn on May 1 that officials have said the bank cannot pay. Jesus Manuel Ortiz, spokesman for Governor ...

  Bloomberg Ministers from the Group-of-Seven nations agreed to promote agricultural innovation and investment as farmers face the twin challenges of an aging workforce and extreme weather at a time when global food demand is increasing. “Motivated, skilled and enterprising farmers are essential for the growth of the agricultural sector,” the ministers said in a joint statement after two days ...

  Vienna / AFP Austria’s anti-immigration far-right triumphed on Sunday in the first round of presidential elections, dealing a wake-up call to Vienna’s cosy political establishment two years before the next scheduled general election. Norbert Hofer of the Freedom Party (FPOe) won 36.7% of the vote, projections showed, with candidates from the two governing parties failing to even make it ...

  Aleppo / AFP Rebel and regime bombardment in Syria’s Aleppo on Sunday killed at least 14 civilians, emergency workers and a monitor said, on the third day of renewed violence in the battered city. Rebel rocket fire on government-held parts of the northern city killed six civilians, including a woman and two children, said the Syrian Observatory for Human ...

  Kirkuk / AFP Kurdish peshmerga forces and Turkmen Shiite paramilitaries were Sunday engaged in clashes that have killed at least nine people in a flashpoint town during the past 24 hours, officials said. Tuz Khurmatu, part of a swathe of territory claimed by both Iraq’s autonomous Kurdish region and Baghdad, has been divided between Turkmen and Kurds since fighting ...

  London / AFP US President Barack Obama warned on Sunday that it would be a “mistake” to send Western troops into Syria to overthrow the regime of President Bashar Al Assad. In an interview with the BBC, he said the United States would continue strikes against the IS group while continuing efforts to broker a transition deal between the ...