A detailed report from the National Association of Business Economics (NABE) says the U.S. economy will recover in the third quarter after a continued contraction in the second.

The U.S. Treasury Department’s is pressing the go button on its Public-Private Investment Program and re-expanding the $1 trillion Term Asset-Backed Securities Loan Facility (TALF).

Like most investors, Harvard University’s billion-dollar endowment fund took a beating during the global financial crisis. Many investors cashed out, opting for the safety of the sidelines. But Harvard called a new play. During the first quarter, Harvard engineered a dramatic shift in its endowment-fund investment strategy – boosting its stakes in some of the most prominent emerging market exchange traded funds (ETFs).

U.S. housing starts and permits unexpectedly plummeted to record lows in April, torpedoing hopes of a housing market recovery as well as hopes the overall economy is regaining traction.

Venezuela’s oil production is already below 1997 levels, but could fall significantly lower as the country’s president, Hugo Chavez, has alienated oil service companies by refusing to pay their fees, and in some cases, seizing their assets.

One business day removed from the government’s bank stress tests, four of the largest U.S. banks – BB&T Corp. (NYSE: BBT), Capital One Financial Corp. (NYSE: COF), U.S. Bancorp (NYSE: USB) and KeyCorp (NYSE: KEY) – announced plans to raise capital through stock offerings.

JPMorgan Chase & Co (JPM) beat first-quarter estimates, and its Chief Executive said it has the money to repay the $25 billion the bank borrowed from the U.S. government.

India’s information technology industry is one of the largest operations in the world – employing millions of engineers, technicians and customer service specialists who serve the world’s second-largest population.

Fiat SpA (OTC: FIATY) Chief Executive Officer Sergio Marchionne said his company would walk away from merger talks with Chrysler LLC unless American and Canadian unions agree to take substantial pay cuts, The Toronto Globe and Mail reported.