China's big banks are urging the central bank to free up funds to ease an unusual cash squeeze, as Beijing faces a stark choice: add money to the financial system to help lenders, or stay the course to rein in a rapid expansion of credit.

The plan by Jefferson County, Ala., to emerge from bankruptcy protection hinges in part on the sale of $1.9 billion of new debt this fall to refinance debt tied to its troubled sewer system. But some observers are calling terms of the new debt onerous.

Former KPMG LLP senior partner Scott London was arraigned here Monday in federal court, where a not-guilty plea was entered on his behalf, although he is expected to plead guilty once certain procedural matters are resolved.

NAIROBI (Reuters) - Kenya's economy will grow an estimated 5.7 percent in 2013 before accelerating to 6 percent in 2014, the World Bank said on Monday, but warned structural reforms were needed to improve the business environment and attract foreign investment. "The economy is still operating below its potential and remains vulnerable to external shocks, which undermines its prospects for growth and poverty reduction. This can be cushioned by increasing both domestic and foreign savings," the bank said in its ... more

Abreast of the Market: Assets from Japanese stocks to U.S. Treasurys have slumped this spring. But the euro has largely avoided the volatile trading that has whipsawed other currencies.