HONG KONG (Reuters) - Asian stock markets retreated on Tuesday and the Australian dollar stumbled after the central bank cut interest rates for the second time in four months as the region's growth falters in the face of slowing demand from China.
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.
FRANKFURT, Germany - German airline Lufthansa saw its operating losses narrow in the first quarter as fuel costs fell in the wake of lower oil prices.
BEIJING (AP) - Chinese regulators say they will lift price controls on most medical drugs starting June 1 in hopes that a more market-driven pricing system will keep medical costs in check.
UBS Group AG, Switzerland's biggest bank, said net income in the first three months of the year almost doubled in a quarter that saw all divisions beat analyst estimates.