• Obama presses ailing Europe to focus on growth May 19, 2012
  CAMP DAVID, Maryland (Reuters) - A growing chorus of world leaders on Friday pushed for a shift toward more pro-growth policies to help ease a European crisis that threatens to oust Greece from the euro zone and reverberate throughout the global economy. Setting the tone for a weekend G8 summit, President Barack Obama aligned himself with the new French president's drive for more economic stimulus in recession-plagued Europe, in a swipe at the tough austerity programs that have been spearheaded by German Chancellor Angela Merkel. ...
• Repsol: Exploratory oil well off Cuba comes up dry May 18, 2012
  An exploratory oil well off the northern coast of Cuba has proved a failure and will be capped and abandoned, Spanish company Repsol said Friday, a disappointment for a cash-strapped nation hoping for an economic lifeline.
• At ''bridge to nowhere,'' Romney slams Obama on economy May 18, 2012
  HILLSBOROUGH, New Hampshire (Reuters) - Republican presidential candidate Mitt Romney returned to his economic message on Friday, highlighting a "bridge to nowhere" rebuilt by stimulus money and warning the U.S. economy could suffer a fiscal crisis like California's if he is not elected in November. Rising in the polls this week, Romney is eager to follow through by hammering at the White House's handling of the weak economy. ...
• Wall St Week Ahead: The market is oversold, but major signs say "sell" May 18, 2012
  NEW YORK (Reuters) - Normally a big decline would set up Wall Street for a technical rebound. But that may not be the case next week, even after the market posted its worst weekly loss for the year and the S&P fell for six straight sessions. With the corporate earnings season drawing to an end and recent U.S. economic data raising doubts about the pace of growth, the S&P 500, which is down 7.3 percent so far in May, could decline further next week as concerns about the financial health of Europe persist. ...
• Spain may have to revise its 2011 budget deficit May 18, 2012
  Concern grew for the stability of Spain's place in the fragile eurozone economy after reports of a rise in the level of bad loans on the books of its banks and word from the government Friday that it may have to revise its 2011 budget deficit upwards for a second time.
• Crude down, hits biggest 3-wk loss since Aug '11 May 18, 2012
  NEW YORK (Reuters) - Crude oil futures fell more than 1 percent on Friday, down for the sixth straight session, as worsening problems in Greece and Spain raised worries of contagion in the euro zone. Oil futures fell on the drumbeat from global stock markets, which erased the year's gains as investors pared holdings for safe-haven assets such as gold, on growing concerns about the euro zone debt crisis. On Wall Street, equities dipped after a messy opening-day trade for social networking darling Facebook failed to lift the spirits of investors. U.S. ...
• Obama presses ailing Europe to focus on growth May 18, 2012
  WASHINGTON (Reuters) - President Barack Obama pressed Europe on Friday to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide. Setting the tone for a weekend G8 summit, Obama made clear he was aligning himself with the new French president's drive for more economic stimulus in the recession-plagued euro zone instead of emphasizing belt-tightening programs spearheaded by Germany. ...
• Greek politics, Spain banks test eurozone survival May 18, 2012
  Chaos in Greek politics and Spanish banking combined this week to underscore just how fragile Europe's economy remains after an eviscerating austerity regime that has spawned unemployment, desperation and misery. And there is no respite in sight, as Germany's finance minister predicted Friday that the crisis could last up to another two years.
• Eurozone crisis drives stocks lower despite Facebook frenzy May 18, 2012
  World stock markets fell again in nervous trade on Friday and the euro hit a new four-month low against the dollar as ratings agencies further downgraded Greek and Spanish banks.
• State unemployment rates in April, at a glance May 18, 2012
  The unemployment rate fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.
• Unemployment rate falls in two-thirds of US states May 18, 2012
  The unemployment rate fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.
• Obama presses Europe for shift to growth focus May 18, 2012
  WASHINGTON (Reuters) - U.S. President Barack Obama pressed Europe on Friday to shift toward a more pro-growth policy and away from austerity to tackle a crisis that threatens to push Greece out of the euro zone and send economic shockwaves worldwide. Setting the tone for a weekend G8 summit, Obama made clear he was aligning himself with the new French president's drive for more economic stimulus in the recession-plagued euro zone instead of emphasizing belt-tightening programs spearheaded by Germany. ...
• A look at economic developments around the globe May 18, 2012
  A look at economic developments and activity in major stock markets around the world Friday:
• Bankers survey shows rural economies remain strong May 18, 2012
  The economy remains strong in rural areas of 10 Midwest and Western states because of the health of agricultural businesses there, according to a new survey of banks serving rural areas.
• Chinese entities world's biggest economic spies-Pentagon May 18, 2012
  WASHINGTON (Reuters) - The Pentagon said on Friday it believes China spent up to $180 billion on its military buildup last year, a far higher figure than acknowledged by Beijing, and it accused "Chinese actors" of being the world's biggest perpetrators of economic espionage. The Pentagon, in its annual report to Congress on China's military, flagged sustained investment last year in advanced missile technologies and cyber warfare capabilities and warned that Chinese spying threatened America's economic security. ...
• Putin seeking control in Russian cabinet selection May 18, 2012
  MOSCOW (Reuters) - President Vladimir Putin will likely name allies to key economic posts when he unveils his new cabinet on Monday, asserting control over the government in a move that could hamstring reforms backed by his more liberal premier. At stake is the future of Russia's privatization program and the drive to diversify a $1.7 trillion Russian economy still heavily dependent on oil and gas exports, which yield half of all state revenues. "It will be Putin's cabinet," said Lilia Shevtsova, a senior associate at the Carnegie Moscow Center think-tank who is an author and expert on Putin. ...
• News Summary: Taiwan's Ma set for 2nd term May 18, 2012
  TENSIONS EASED: Taiwan President Ma Ying-jeou has leveraged growing economic ties with China to reduce tensions to their lowest level since the two sides split in 1949.
• Sudan set to devalue pound amid oil crunch: sources May 18, 2012
  KHARTOUM (Reuters) - Sudan, hit by an economic crisis since losing crucial oil revenues, will effectively devalue the pound by allowing foreign exchange bureaux to trade dollars at a level away from the official rate, a banking source and Sudanese media said on Friday. Sudan's economy has been battered since the country lost three-quarters of its oil production to South Sudan when the latter became independent in July. Even though the pipelines are in Sudan, the two have been unable to agree on how much the South should pay to transport its oil. ...
• Tourism in Myrtle Beach leads economic recovery May 18, 2012
  A new Coastal Carolina University study has found tourism in the Myrtle Beach area led the recovery from the Great Recession, bouncing back faster than other areas of the economy along the state's Grand Strand.
• Kenya's KenGen eyes $686 mln gas-fired power plant May 18, 2012
  NAIROBI (Reuters) - Kenyan electricity generating company KenGen plans to raise funds from private investors for a $686 million gas-fired power plant to run on imported liquefied natural gas (LNG), Managing Director Eddy Njoroge said on Friday. KenGen, which relies largely on hydro power, said the plant would help meet growing demand for electricity and help prevent frequent blackouts in east Africa's biggest economy caused by generation shortfalls and an ageing grid. ...
• Unemployment rates fall in two-thirds of US states May 18, 2012
  Unemployment rates fell in two-thirds of U.S. states last month, evidence that modest economic growth is boosting hiring in most areas of the country.
• Canada April inflation sparks more rate-hike talk May 18, 2012
  OTTAWA (Reuters) - Inflation in Canada was slightly higher than expected in April, providing the Bank of Canada with more reason, if the European crisis doesn't undermine the economy, to launch the interest-rate hike it has hinted at recently. On an annual basis the overall inflation rate rose to 2.0 percent in April from 1.9 percent in March, Statistics Canada said on Friday. The core rate, which excludes volatile items, climbed to 2.1 percent from 1.9 percent. ...
• Myanmar welcomes easing of US economic sanctions May 18, 2012
  Officials and businessmen in Myanmar welcomed U.S. plans to ease economic sanctions, saying Friday it will benefit both countries in a market long cut off from most Western investment.
• BoE's Posen to quit to head U.S. think tank May 18, 2012
  LONDON/WASHINGTON (Reuters) - Bank of England policymaker Adam Posen will not seek a second term at the central bank and instead plans to step down in August to head a leading U.S. economic think tank, the Bank said on Friday. Posen has been the most outwardly dovish member of the Bank's rate-setting Monetary Policy Committee for most of his time at the central bank, and a leading advocate of its programme of quantitative easing asset purchases. ...
• Kenya's 2012 tourism earnings to dip on euro crisis, attacks May 18, 2012
  NAIROBI (Reuters) - Kenya's white sandy beaches look set to have fewer visitor footprints meandering over them this year. While this may be good news for Europeans seeking escape from economic storms at home, it is bad news for Suresh Sofat's tour firm and other Kenyans hoping to cash in on hard currency earnings - especially after 2011 was year of plenty for them. Sofat, 73, who runs Somak Travel, a 44-year old family business, now sees a difficult time ahead after the euro crisis and deadly attacks blamed on al Qaeda-linked militia have seen travel bookings fall sharply. ...

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