Real wages shrink in developed countries, FT reports.

ECB's Schnabel says June rate hike needed, warns against looking through inflation spike.

ECB's Schnabel says a June rate hike will be needed and that looking through the inflation spike is no longer an option.

Deregulation hands top US, UK banks $1.3T opening – FT. The Financial Times reports that regulatory easing creates a $1.3 trillion opportunity for major lenders.

Deregulation provides top US and UK banks with a $1.3 trillion market opening, according to the Financial Times.

UK may join €4bn EU start-up fund this year, top official says

The UK could join a €4 billion EU start-up fund this year, according to a top official cited by the Financial Times.

China cracks down on offshore trading platforms after $1 trillion unauthorized outflow last year. Authorities target firms accused of helping investors bypass capital controls.

Authorities in China have launched a crackdown on offshore trading platforms accused of helping investors bypass capital controls, following an estimated $1 trillion in unauthorized capital outflows last year.