Bernanke says bond buying could slow

The Fed chairman said it might consider taming asset purchases soon if officials became convinced that the economic recovery was on a steady upward path

IMF pulls its punches in ring with Treasury

Against expectations, fund refused to openly and explicitly criticise chancellor George Osborne’s austerity drive in report on British austerity

China factory output hits seven-month low

Factory activity shrank for the first time in seven months as new orders fell, the May HSBC PMI showed, raising concerns of a feeble recovery

Soldier killed on London street

Scotland Yard says two men, both carrying weapons, were shot by police and taken to hospital. Video footage showed one of the men with bloodied hands

IMF studies bond restructuring reform

First high-level attempt to address the issue since efforts to create a sovereign debt mechanism failed a decade ago

HP turnround plan begins to show results

Meg Whitman, chief executive, tells the FT that the ‘patient is showing more signs of recovery’ after PC revenues fell by a fifth year on year

Rating agencies under fire again

Growing number of investors say agencies such as S&P, Moody’s and Fitch have not kept up with improving fundamentals in US housing market

Ai Weiwei mocks state in music video

Ai Weiwei, the Chinese artist, has dedicated to dissidents everywhere a heavy-metal video he has made that satirises the power of state authorities

Brussels to tighten bank bailout rules

EU proposes more stringent rules on state bailouts by which investors would suffer heavier losses and would be levied before taxpayers

Amazon plans giant biosphere in Seattle

Mixed public reaction to proposal to construct spherical greenhouses where the online retailer’s staff will work surrounded by shrubbery and trees

Eurozone seeks ‘Tobin tax’ incentives

Officials look to ease collection of the levy, using market infrastructure, and make it more difficult to sidestep the bloc’s taxman

Cable & Wireless to relocate from London

Telecoms group that traces its history back to the early days of the British empire will move its headquarters out of the UK after more than 140 years

Iran’s poll charade

Ban on candidates highlights the frailty of the Islamic regime and increases the likelihood of social unrest

IMF tones down criticism of UK austerity

In its annual report on Britain’s economy the fund chose not to repeat a suggestion that the country should consider adjusting its original plan

G8 protesters ‘map’ London hedge funds

An anti-capitalist group has highlighted potential targets in the UK capital, encouraging supporters to ‘show their anger’ at companies’ addresses

Banks rule out need to issue new shares

UK’s largest retail bank has not disclosed the size of the funding gap it has been asked to fill by the Prudential Regulation Authority

Ireland pledges to fight tax avoidance

Prime minister insists Ireland does not cut special tax deals with foreign companies as he arrives for an EU summit where the issue will top agenda

Stockholm riots continue for third night

Rioting in Sweden’s capital spreads to as many as a dozen suburbs as a third night of unrest reopens debate about integration

Iceland suspends EU accession talks

Nordic island’s new coalition government, under 38-year-old PM Sigmundur David Gunnlaugsson, to focus on easing household debt and boosting growth

Swiss franc hits two-year low

The head of Switzerland’s central bank says the country could impose negative interest rates and did not rule out more extreme measures

Nationwide sets aside £500m for bad loans

Mutual building society sets aside almost £500m to cover souring commercial property loans and warns of weak demand and falling prices in the sector

Sony board discusses sell-off proposal

Chief executive Kazuo Hirai says no timetable has been set for a response to suggestions the Japanese group is to sell off part of its film and music arm

SAP seeks programmers with autism

German software group wants to tap into a new talent pool by hiring hundreds of people with autism to programme and test its ­products

BoJ holds off on fresh monetary easing

Japan’s central bank decides against fresh monetary easing, judging measures already taken to stimulate growth enough to revive the economy

Dimon victory despite investor backlash

Investors targeted their disapproval at the bank’s independent directors in an unusually large vote against the re-election of Ellen Futter, David Cote and James Crown

Apple chief defends tax practices

Tim Cook, Apple chief executive, defended the technology group’s tax practices and denied it was engaged in massive tax avoidance schemes

Mixed UK data ahead of IMF verdict

Retail sales volumes for the first quarter were significantly worse than expected but data show that state borrowing fell and tax revenues rose

Shares mixed ahead of Bernanke testimony

Japan stocks lead rally, with investors waiting for Federal Reserve chairman Ben Bernanke’s testimony before Congress l

Fiat Industrial to move tax home to UK

Blow to Italy underlines the attractiveness of the UK’s increasingly light corporate tax regime

Rafsanjani banned from presidential poll

Guardian Council, which vets potential presidential candidates for loyalty to Supreme Leader, also bans an ally of president from participating