Business Bites: Zero eurozone growth in first quarter

The eurozone has narrowly avoided another recession with zero growth in the first three months of the year, according to figures from Eurostat.

Another quarter of economic contraction had been predicted after the eurozone shrank by 0.3% in the final quarter of 2011.

The German economy grew by 0.5% and the French economy saw no growth at all.

The news comes as fears mount over the impact of a disorderly Greek exit from the single currency.

Meanwhile, the bank JP Morgan is getting set to face shareholders at its annual meeting in Tampa Florida.

The BBC's Aaron Heslehurst discusses the key financial stories of the day.