Fears of an early rise in US interest rates were eased on Friday by weaker than expected jobs data, helping to pull global markets out of the tailspin they had endured in another volatile week of trading.
After so many years of economic gloom, it’s nice to have some good news. On Thursday, such tidings came in the form of a surge in the valuation of Facebook, which climbed to more than $192bn in the wake of good first-quarter earnings.
The Federal Reserve is set to end its economic stimulus program in October, bringing to an end the controversial five-year-old scheme even as officials said there were signs that the US economy was still in trouble.
The Dow Jones index has soared through the 17,000 barrier to a record high after US data showed a bigger-than-expected surge in job creation last month.
It's been a long time since the jobless rate in the United States was as low as 6.1%.
It is probably Silicon Valley's most striking mantra: “Fail fast, fail often.” It is recited at technology conferences, pinned to company walls, bandied in conversation.
What is a dark pool?
The US economy has shrunk at its fastest rate since the depths of the recession five years ago as it emerged that the harsh winter took a far bigger toll on activity than previously estimated.
American Apparel has fired its maverick founder Dov Charney as chairman and declared its intention to oust him as chief executive of the fashion company after repeated allegations of misconduct against him.
The International Monetary Fund slashed its forecast for US economic growth on Monday, citing a harsh winter, problems in the housing market and weak international demand for the country's products.
Federal prosecutors in New York have accused a Costa Rica-based company and its founder of running a $6bn money-laundering scheme that became a "bank of choice for the criminal underworld".
JP Morgan faced a barrage of criticism on Friday for it disastrous "London whale" trading loss as senators and the bank's regulator accused its executives of believing they were too big to fail, ignoring warnings about the escalating losses and deliberately withholding information.
Barack Obama warned on Saturday of a "ripple effect" through the US economy that would cost hundreds of thousands of jobs after he reluctantly signed an order to begin a huge $85bn (£56bn) programme of government cuts.