Fed's Yellen-downturn in U.S. economy possible

(Reuters) - "I'd like to highlight three risks to the global economy. the first pertains to the U.S. economy, itself, where there is potential for a downturn that could have major spillover effects around the globe" she said.

The U.S. economy grew at a sluggish 1.3 percent in the first quarter of 2006, the Commerce Department said on Friday. It was the fourth consecutive quarter of sub-par economic expansion in the world's largest economy.


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FACTBOX: Congress looks to measure success in Iraq

(Reuters) - Lawmakers are still haggling over the details, but here is a list of possibilities:

-- Developing Iraqi security forces to a level that allows them to secure all provinces.


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German hedge fund initiative all but dead -magazine

(Reuters) - "We must prepare ourselves for that," Edgar Meister, who is responsible for banking supervision at the German central bank, told the magazine.

Meister warned that hedge-fund takeovers of large banks could create "considerable risks" for the global financial system.


Read more at Reuters.com Government Filings News

European Stocks Fall for First Week in Four on Growth Concern; BHP Slides

(Bloomberg) -- European stocks fell for the first time in four weeks on concern slowing U.S. economic growth may weigh on earnings and companies are overspending on acquisitions.

BHP Billiton Ltd. led mining stocks lower as shares of industries most sensitive to economic growth retreated. Royal Bank of Scotland Plc dropped as it led a group planning to make an unsolicited offer for ABN Amro Holding NV.


Read more at Bloomberg Stocks News