ECB Says Risks to Financial Stability Have Eased as Threat of Recession Recedes 

The eurozone's financial system faces less acute threats to stability as it appears increasingly unlikely that the currency area's economy will slide into a deep recession, the European Central Bank said.

China Property Stocks Rally as More Cities Unveil Rescue Steps 

Shares of Chinese property developers surged on rising expectations that government entities in China are helping buy up excess housing in a bid to revive the struggling real-estate sector.

Warren Buffett's Berkshire Reveals Its Mystery Stock: Chubb 

The Omaha, Neb., company began building a secret stock position in the second half of 2023.

Fed's Kashkari Sees Rates on Hold for Longer 

The president of the Minneapolis Fed said it isn't clear how much downward pressure monetary policy is putting on the economy.

Philippines Central Bank Keeps Rates Steady to Guard Against Inflation 

Bangko Sentral ng Pilipinas held its policy rate steady to mitigate upside risks to inflation following a recent pickup in price pressures.

Japan's Economy Shrinks Again as Inflation Hits Consumers' Pocketbooks 

The weakness of the yen currency drives up the prices of imported food and gasoline.

Australian Unemployment Rises, Easing Pressure on RBA to Hike 

Unemployment in Australia jumped in April as more people searched for work, a rise that is likely to reduce pressure on the Reserve Bank of Australia to raise interest rates further.

Inflation Eases as Core Prices Post Smallest Increase Since 2021 

The results were in line with expectations. Investors cheered, sending stocks higher.

Soros Fund Management dumps New York Community Bank stake 

Soros Fund Management eliminated its stake in New York Community Bank, a regulatory filing shows.

Biden's banking rules will fuel inflation, lawmakers say 

The banking industry has pulled out all the stops in its fight against new regulations that it argues will raise consumer prices for utilities, groceries and housing - and its campaign is convincing powerful lawmakers on both sides of the aisle.

(END) Dow Jones Newswires

05-16-24 0515ET