The numbers would be excellent in normal times, but for a country recovering from deep recession, they're not enough.

Spending by consumers rose by the fastest pace in three years, helping the economy grow at an annual rate of 3.2 percent in the first quarter of the year, the Commerce Department said Friday. It marked the third straight quarterly gain as the nation heals from the longest and deepest recession since the 1930s. [Read the full article]

Regulators on Friday shut down three banks in Puerto Rico, two in Missouri, and one each in Michigan and Washington, bringing the number of U.S. bank failures this year to 64.

The Federal Deposit Insurance Corp. took over the banks: Westernbank Puerto Rico, based in Mayaguez, with about $11.9 billion in assets; R-G Premier Bank of Puerto Rico, based in Hato Rey, with around $5.9 billion in assets; and San Juan-based Eurobank, with $2.5 billion in assets.

The FDIC also seized CF Bancorp, based in Port Huron, Mich., with about $1.6 billion in assets; Champion Bank, of Creve Coeur, Mo., with $187.3 million in assets; BC National Banks, of Butler, Mo., with $67.2 million in assets; and Frontier Bank, based in Everett, Wash., with $3.5 billion in assets.

Banco Popular de Puerto Rico agreed to acquire Westernbank's deposits and about $9.4 billion of its assets. The FDIC will keep the remainder for eventual sale. [Read the full article]

President Barack Obama, accompanied by small business employers and employees, gestures while speaking in the Rose Garden of the White House in Washington, Friday, April 30, 2010. From left are, Itron setup-repair operator James Morris, the president and Itron President and Chief Executive Officer Malcolm Unsworth. (AP Photo/Evan Vucci)

President Barack Obama on Saturday pressed Congress for swift action on measures to restrict political advertising by corporations and labor unions, saying that "no less than the integrity of our democracy" is at stake. [Read the full article]

Tens of thousands of workers marched in cities from Hong Kong to Istanbul Saturday to mark international worker's day, demanding more jobs, better work conditions and higher wages.

More than 100,000 jubilant workers gathered in Istanbul's Taksim Square in the first celebrations at the site since dozens of people died there in a May 1 gathering more than three decades ago.

The demonstrations in Istanbul, which sits on both European and Asian continents, marked a special victory for the Turkish unions, which had been denied access to the Taksim Square since 1977, when 34 people died after shooting triggered a stampede. The culprits were never found and workers on Saturday demanded an inquiry into the deaths of the demonstrators.

Most of the annual May Day marches were peaceful, but in the Chinese territory of Macau police used water cannons and pepper spray against rowdy protesters who tried to break away from the approved route. [Read the full article]