While U Slept: Biz&Buz. The 5 Big Overnight Business Stories. Monday, 05/31/10

May 31, 2010

EUROPEAN SHARES EDGE HIGHER AS TRADING WEEK OPENS Trading subdued with US and UK markets closed for holidays. Some had feared Spain ratings downgrade might spark new investor fears. (WSJ)

INDIA GROWTH GETS STRONGEST BOUNCE IN TWO YEARS Quarterly expansion at 8.6%, returns to pre-crisis levels. (AP)

CHINA ISSUES WARNING ON EUROPEAN DEBT Premier Wen Jiabon in Japan says China is worried that Europe will spark double-dip recession. (Reuters)

AIG TRYING TO SALVAGE SALE OF MAIN ASIA UNIT Negotiations continue after Prudential Plc asked $35 billion price tag be reduced to win shareholder support. (Bloomberg)

PAKISTANI COURT ORDERS FACEBOOK BAN LIFTED Move comes two weeks after social network cite was shut down over alleged blasphemous caricatures of the prophet Mohammed. (Al Jazeera)


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