UNEMPLOYMENT

Thousands of demonstrators took to the streets of several Spanish cities late Saturday in what is described as a massive social movement against the economic atrocities the nation is coerced into.

Athens and Paris have rebelled against Berlin-inspired austerity, but Dublin has taken the harsh medicine dutifully -- and, unlike its testy European peers, grimly borne budget cuts and tax hikes with minimal protest. That may be about to change.

The Spanish government agreed Friday to an independent audit of the holdings of its banking sector, as requested by the European Union. It also said that banks would be required to set aside more cash in the face of losses from toxic loans, as the country's economy teeters from high unemployment and weak economic output, and also offered high-interest loans for weaker lenders.

Members of Green Alliance charged the authorities with fraud for their distant third place finish.

Asian shares retreated Friday, spooked by JPMorgan's $2 billion loss from a failed hedging strategy, with investors warily watching political turmoil in the euro zone as they await new Chinese data for clues on its growth outlook.

New Labor Department data suggests a strong start to jobs growth in January may not get wiped out by negative growth heading into the third quarter.

The government is also permitting about 500 foreign observers, including 120 from the European Union, to monitor the elections.

U.S. 30-year fixed-rate mortgage rates hit a new record low in the week ending May 10, following lower Treasury bond yields and weaker economic data in April, mortgage financier Freddie Mac said Thursday.

Fewer Americans than expected filed for jobless benefits last week, calming some concerns about the jobs market recovery after a disappointing April employment report. However, many signs point to the fact that companies are still very cautious about adding workers.

Spain stepped up efforts to save its troubled banks on Thursday with a plan to make them recognize huge losses from a property crash, but uncertainty over the final cost of a rescue hit the euro, Spanish debt and global stock markets.

Neither premium chicken sandwiches nor Angus burgers could tempt U.S. consumers to spend more on higher-priced items at McDonald's, as a tepid U.S. economic recovery kept restaurant spending in check.

Yolanda Quesada has been fired from her customer service position at Wells Fargo for a shoplifting crime she committed 40 years ago.

America's losing battle of the bulge shows no signs of abating, with obesity projected to cost a staggering $550 billion in health expenses by 2030.

Prime Minister Marian Rajoy said on Monday the government was ready to step in to save banks, starting with Spain's fourth largest, Bankia, which was first in line for state aid.

Socialist Francois Hollande will lead France after Nicolas Sarkozy got ousted by voters fed up with austerity. In Greece, the far-left and far-right have made big gains. But it may not be time just yet to start worrying about the fate of the euro zone.

About 150 people were injured when gas-filled balloons exploded during a rally for the Republican Party in the capital city of Yerevan

Spain, the euro zone's fourth-largest economy, said Monday industrial output decrease by 7.5 percent in March compared to the prior year, following sharp unemployment and shrinking gross domestic product, according to official data.

According to the think-tank, a generally weaker economic outlook for a longer period in the UK, and revised jobless forecasts mean that only the affluent areas of London, the South East and East of England will escape the trend.

Asian stock markets plunged Monday as weaker-than-expected US employment report and election results from Europe weighed on investor sentiment.

Highlighting the economic data this week -- May 7-11 -- are the March trade-balance figures to be released Thursday. Economists expect the U.S. trade deficit to widen after its sharp narrowing in February.

Nicolas Sarkozy delivered a concession speech Sunday night, following his loss to Socialist candidate Francois Hollande in France?s presidential election. I bear the full responsibility for this defeat, Sarkozy said.