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While U Slept: Biz&Buz. The 5 Big Overnight Business Stories. Wednesday, 05/19/10

May 19, 2010

STOCKS TUMBLE, EURO AT 4-YR LOW ON GERMAN BAN, MERKEL STATEMENT After Germany bans naked short-selling of some securities, Merkel says euro “in danger.” Single currency takes another downturn, major market jitters return. (Dow Jones)

OIL CONTINUES LONGEST LOSING STREAK IN MONTHS Crude oil drops to lowest level in seven months, marking seventh straight down day, its longest losing streak in five months. Gasoline demand in U.S. appears to slow, while European debt crisis lingers. (Bloomberg)

THAI STOCK EXCHANGE ON FIRE, MORE DEATHS, PROTESTERS SURRENDER Death count climbs as troops launch all-out assault on protesters. Stock exchange ablaze, power cut as future of country remains in doubt even as “red-shirt” anti-government forces signal that they will surrender to avoid further bloodshed. (Reuters)

TOYOTA RECALLS 11,500 LEXUS IN JAPAN, ABROAD Word’s top carmaker manufacturing woes continue, with 4,500 domestic recalls of luxury brand expected to be followed by 7,000 Lexus LS vehicles from abroad sent back to factory. (AP)

FACEBOOK PRIVACY UPROAR SPARKS INTERNAL COMPANY DEBATE Company founder Zuckerberg may be forced to scale back efforts to get Facebook users to open data to entire web. Popular revolt, regulator concerns and internal company disagreements reportedly being weighed. (WSJ)

BONUS: CHEVROLET ELECTRIC VEHICLE TO BE HOOKED UP WITH ANDROID GM following Ford in linking vehicles to digital/mobile/voice-activation technology. (Mashable video)

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