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While U Slept: Biz&Buz. The Big 5 Overnight Business Stories. Monday, 05/03/10

May 3, 2010

CONTINENTAL, UNITED OK AIRLINE MERGER United Airlines has agreed to buy Continental Airlines for $3.2 billion in a deal that,  if confirmed, would create the world’s largest single carrier. (Reuters)

EURO CENTRAL BANK EXTENDS LIFELINE TO GREECE Supplementing recovery efforts from the IMF and the eurozone, the ECB announces suspension of minimum credit rating required for Greek government assets. (FT)

BP CEO SAYS COMPANY CAN HANDLE DAMAGE WREAKED BY GULF OIL SPILL BP CEO Tony Hayward remains confident that his company and the oil industry in general can weather the storm, following the Deepwater rig disaster in the Gulf of Mexico  (Bloomberg)

ASIAN SHARES FALL ON CHINESE CENTRAL BANK ANNOUNCEMENT Asian equity markets slip Monday, following Beijing’s decision to tighten monetary policy, and new concerns raised by Australia’s mining industry over a newly proposed resources tax. (WSJ)

IPAD 3G MARKS ANOTHER KILLER APPLE LAUNCH Apple analyst Gene Muster estimates the company sold 300,000 iPad 3G models during this weekend’s launch, effectively selling out in 49 out of 50 stores nationwide. (CNN)

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