Australia cut interest rates to a fresh record low and said there are signs of improving household spending, sending the currency and bond yields higher as markets bet policy makers won't ease further.
The US economy slowed sharply in the first quarter of the year, with annualised GDP growth falling to just 0.2% from 2.2% in the final quarter of 2014.
FILE - This Oct. 8. 2014 photo shows a Wall Street address on the side of a building in New York. U.S. stocks opened higher Monday, May 4, 2015, pushing stocks to record levels, as investors assessed corporate earnings.
LONDON - The Swiss bank UBS said on Tuesday that its first-quarter profit rose 88 percent on gains in its investment bank and its wealth management business amid a sharp increase in the value of the Swiss franc.
New chief executive officer Steve Easterbrook yesterday laid out a turnaround plan that includes reorganising the company's operating units, selling more restaurants to franchisees, cutting costs - and improving the food.