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While U Slept: Biz&Buz. The Big 5 Overnight Business Stories. Friday, 05/07/10

May 7, 2010

WORLD STOCKS TUMBLE ON EUROPEAN CONTAGION FEARS Pound weakens, global indices fall amidst Greek debt crisis uncertainty, British election results. (Reuters)

TOKYO STOCKS FALL TO TWO MONTH LOW BEFORE PULLING BACK Wall Street’s sell-off, weakening euro combine to send Nikkei 225 Stock Average into negative territory for 2010. (WSJ)

GERMANY TO VOTE ON GREEK AID PACKAGE Germany’s parliament set to vote on country’s share of 110 billion euro relief package; Merkel urges discipline. (BusinessWeek)

RBS REPORTS Q1 PROFIT OF £713M Operating profit report for Royal Bank of Scotland marks jump from £1.35bn loss over same period last year. (BBC)

AFTER SOARING THURSDAY, GOLD SLIPS IN ASIA Gold futures fell $9.60, or 0.8% in Asian trading, to rest at $1,199.20 in electronic trading Friday. (MarketWatch)

BONUS: WEINSTEIN’S FIRST ASIAN FILM FINALLY GETS CHINESE RELEASE DATE The film, starring John Cusack and Gong Li, wrapped in 2008, but faced opposition from Chinese officials before finally getting greenlit for June release (AP)

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