The role of the European Banking Authority must be beefed up beyond current plans to ensure that regulation of Europe's banks does not fragment into two competing systems, one of the architects of the reforms told a public hearing on Friday.

Germany's economy will recover from a bout of winter weakness but fall well short of the dynamic growth rates of previous years as euro zone recession and global slowdown stunt exports and investment.

Former Finance Minister Agus Martowardojo began a five-year term as Indonesia's central bank governor Friday, taking the reins as Southeast Asia's biggest economy faces the prospect of higher inflation and political uncertainty ahead of general elections scheduled for next year.

European Union authorities Friday announced broad restrictions on three insecticides suspected of causing mass bee deaths.

Cathay Financial Holdings Co. (2882.TW) said Friday that it plans to sell up to 400 million shares in a rights issue and estimates the transaction to be completed by the third quarter, pending regulatory approval.

Standard Chartered PLC's chief executive Peter Sands denied U.S. activist investor Muddy Waters' claim that the bank has taken on too much risk, saying its loan book was in a good condition and there is no change in risk appetite for lending.

Financial services company HSBC Holdings PLC (HSBA.LN) Friday said it is actively supporting governments and regulators to improve financial stability, and reaffrirmed its expectation to generate a further $2 billion to $3 billion in savings over the next three years.

A Bank of England policymaker said on Friday he favored small additional amounts of bond purchases over time, but not a hard-to-manage commitment to longer-term stimulus like that of the U.S. Federal Reserve.

Swedish bank Svenska Handelsbanken AB (SHB-B.SK) Friday said it is completing its acquisition of British wealth management firm Heartwood Wealth Group Ltd. as it has now received permission from the British financial supervisory authority.

European stock markets climbed on Friday, partly recovering from a sharp selloff the prior day, after better-than-expected German business confidence data signaled a brighter future for Europe's largest economy.

U.K. businesses and home owners continued to pay down debt in April, as confidence remains subdued despite a range of government policies to boost lending, a survey showed Friday.

U.K.'s FTSE 100 index slipped on Friday, with mining firms adding pressure as metals prices turned south and with banks building to the prior day's losses.

This week's turbulence in Tokyo markets exposes a key risk of Prime Minister Shinzo Abe's all-in strategy to revive Japan's economy - if investor confidence falters, the government and the Bank of Japan may be left with few options to turn the tide.

European stock markets climbed on Friday, partly recovering from a sharp selloff the prior day, with investors awaiting a reading on German business confidence to gauge if the region's powerhouse is gaining momentum.

Japanese shares ended modestly higher Friday after a roller-coaster ride that subjected the Nikkei Stock Average to a swing of more than 3% on both sides of the previous day's close.

Private consumption helped Germany eke out meager economic growth of 0.

International investor company 3i Group PLC (III.LN), said Friday that it has made an irrevocable offer to Barclays Bank PLC (BARC.LN), to acquire Barclays Infrastructure Funds Management Ltd or BIFM, its European infrastructure fund management business.

Japanese stocks plunged deep into losses Friday afternoon on a wave of selling, as remarks from the Bank of Japan governor failed to ease concerns about a rise in government-bond yields.

Woori Finance Holdings Co. (053000.SE), South Korea's largest banking group by assets, named a new chairman to help steer the government's fourth attempt to sell a 57% stake valued at $4.6 billion in the group. Lee Soon-woo, chief executive at the flagship Woori Bank, will take over as chairman, subject to shareholder approval at a meeting on June 14, Woori Finance said in a statement late Thursday.

HSBC Holdings PLC (HBC) plans to sell the first yuan-denominated bond to be cleared out of Singapore, in a step forward for the city-state which is trying to build itself into an offshore trading hub for the Chinese currency.

Bank Indonesia's new Governor Agus Martowardojo said Friday that keeping inflation in check would be one of the central bank's top priorities to safeguard the nation's economy amid lingering global uncertainties.

Woori Finance Holdings Co. (053000.SE), South Korea's largest banking group by assets, named a new chairman to help steer the government's fourth attempt to sell a 57% stake valued at $4.6 billion in the group. Lee Soon-woo, chief executive at the flagship Woori Bank, will take over as chairman, subject to shareholder approval at a meeting on June 14, Woori Finance said in a statement late Thursday.

HSBC Holdings PLC (HBC) plans to sell the first yuan-denominated bond to be cleared out of Singapore, in a step forward for the city-state which is trying to build itself into an offshore trading hub for the Chinese currency.

Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.

Japanese stocks jumped Friday to stage a modest recovery, with relief buying emerging after the extreme losses they suffered the previous day, amid expectations that the rally that began late last year may have further to go.

Rio Tinto PLC (RIO.LN) has cut about 100 jobs at its copper operation in Utah and warned further positions will be cut later this month as it moves to reduce operating costs after a large part of the pit wall collapsed at its Bingham Canyon mine last month.

The clearinghouse for all stock options said Thursday it will adopt a policy aimed at abolishing a dividend-linked trading strategy that critics say could destabilize markets if left unchecked.

Salesforce.