While U Slept. The Big 5 Overnight Stories. Monday, April 19, 2010

April 19, 2010

AIRLINE BODY BLASTS EUROPE FOR VOLCANO (OVER)REACTION With thousands of flights still grounded, the organization that represents the world’s airlines criticized European leaders for overly cautious decision to close air space. IATA chief said Europe lacked both proper risk assessment and effective political leadership, as airports remained closed in 20 countries. Meanwhile, Britain ordered three Royal Navy ships to help bring home stranded nationals. (BBC)

REPORT: WAS MUNICH CHURCH OFFICIAL FORCED TO TAKE FALL FOR POPE? In troubling 1980 case from Pope Benedict’s time as Archbishop of Munich, the then No. 2 official in Munich had taken “full responsibility” for allowing abusive priest to return to pastoral duties. Now he is backtracking. Still unclear what future Pope knew about decision. News comes after Benedict’s weekend trip to Malta, where he met with victims of clergy abuse. (Der Spiegel)

ASIAN SHARES DROP SHARPLY IN TRADING IN WAKE OF GOLDMAN PROBE Markets react in first full day’s trading after Friday’s civil fraud charges against Goldman Sachs Group, which knocked company’s share prices down a record 13%. Stocks also drop in wake of shutdown of airspace from volcano disruption. (Dow Jones)

SOURCE: TOYOTA WILL PAY RECORD FINE A U.S. transportation source says Toyota has agreed to pay $16 million fine, just hours after announcing yet another product recall. Japanese company has already recalled 8 million vehicles, including 870,000 Sienna minivans in US and Canada, exposed to corrosion. (CNN)

IRAN ANNOUNCES NEW URANIUM ENRICHMENT PLANT Senior Iranian official says plant is part of a major expansion of its nuclear program, defying Western pressure. (Reuters)


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