S&P and ABN Amro suffer Australian legal defeat

Two financial institutions have lost an Australian court appeal against a decision that they "deceived" investors prior to the 2008 financial crisis.

Eurozone economy to shrink by 0.3%, EU Commission says

The eurozone economy is forecast to shrink this year as its debt crisis continues to bite. The European Commission's spring forecast confirmed its prediction of a 0.3% contraction in 2012 in the economies of the 17 countries that use the euro.