h1

While U Slept: Biz&Buz. The 5 Big Overnight Business Stories. Monday, 05/17/10

May 17, 2010

EURO DROPS TO 4-YEAR LOW, THEN STABILIZES The euro continued its slide in early Monday trading, hitting a 4-year low against the dollar before picking up slightly to hover at $1.2234. After early tumbles, European stocks have now rebounded, with the Stoxx Euro 600 Index up 0.1%. (WSJ)

GERMAN BUND STRENGTHENS ON GREEK FEARS The yield on the Germany’s 10-year bund rises 1 basis point to 2.86%, as investors flock to more secure assets in the wake of Greece’s debt crisis. (BusinessWeek)

CRUDE OIL FALLS BELOW $70 PER BARREL Faced with a tumbling euro, crude oil prices fall below $70 per barrel, as a strengthening dollar and concerns over European fiscal austerity measures applied downward pressure on commodity prices. (AP)

CHINESE STOCKS TUMBLE 5%, BIGGEST FALL IN 8 MONTHS China’s stock index falls to its lowest point in 1 year, as government measures to rein in retail prices lead many investors to flee. (Reuters)

MAN GROUP TO BUY GLG PARTNERS
Hedge fund manager Man Group announces plans to buy rival GLG Partners for $1.6 billion. (MarketWatch)

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: