Germany rejects UniCredit's takeover offer for Commerzbank, calling bid inadequate and reaffirming support for bank's independence. The government, holding 12% of shares, said the offer lacks a sufficient premium over the current share price.

Germany ZEW investor expectations surge to 10.5 in June, far above the -5.5 estimate, signaling improved economic sentiment.

Germany's June ZEW investor expectations index rose to 10.5, far exceeding the estimate of -5.5.

ECB's Lane: Inflation well above target a year ahead means we need to move monetary policy now

ECB's Lane says that looking ahead a year, inflation still being well above target means the central bank needs to move monetary policy now.

Fed sets rates at first meeting under newKevin Warsh; ING analyst warns dropping easing bias language or signaling early cuts could alarm bond markets

The Federal Reserve sets rates at its first meeting under new governor Kevin Warsh. ING's Chris Turner said the Fed will need to ditch language pointing towards an easing bias, and if Warsh sounds too willing to cut rates soon, it could alarm bond markets.

Yum! Brands sells Pizza Hut to unnamed buyer for $2.7B in all-cash deal.

Yum! Brands is selling Pizza Hut for $2.7 billion.