While U Slept: Biz&Buz. The Big 5 Overnight Business Stories. Wednesday, 05/12/10

May 12, 2010

ASIAN STOCKS MIXED, EUROPE OPENS HIGHER Nikkei gains in A.M, then drops. Euro and dollar both up on yen. Broader concerns of effect when stimulus spending will wind down, but good news from Germany. (AP)

GERMAN ECONOMY GETS UNEXPECTED BOOST First quarter 0.2% growth from 2009 fourth quarter shows Europe’s biggest economy on track for solid recovery. Most economists had expected a decline of 0.1% quarter-on-quarter.(MarketWatch)

MORGAN STANLEY CHIEF: NO KNOWLEDGED OF FEDERAL PROBE CEO Gorman says he knows nothing of reported justice department probe of allegations that Morgan Stanley misled investors about mortgage derivative products. Denial at Tokyo press conference follows report in Wall St. Journal. (Reuters)

BLACKSTONE MAY PAY MORE THAN $15 BILLION FOR FIDELITY NATIONAL INFO Deal would value company at $32 a share if goes through as reported by next week. (Bloomberg)

VERIZON AND GOOGLE TEAM UP FOR TABLET COMPUTER Pairing hopes to rival iPad and AT&T deal. The largest U.S. wireless carrier and Google continue to deepen ties. (WSJ)


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