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While U Slept: Biz&Buz. The 5 Big Overnight Business Stories. Wednesday, 06/02/10

June 2, 2010

WORLD STOCKS DOWN FOLLOWING US DROP, RISING GLOBAL TENSIONS Analysts point to European debt, Gulf spill, Japanese politics as markets in Europe and Asia follow Wall St. drop. (AP)

YEN DROPS ON NEWS OF PRIME MINISTER RESIGNATION After dramatic exit of Hatoyama for his handling of US military base, likely successor has been advocate of weaker currency. (Bloomberg)

AIA EYES TAKEOVER BID AFTER PRUDENTIAL ENDS AIG ASIAN PURSUIT Prudential licks wounds, totals costs, after officially renouncing $35.5 billion takeover of AIG’s Asian life insurance arm. News could pave the way for American International Assurance’s (AIA) rumored $15 billion IPO. (Reuters)

FOXCONN RAISES SALARIES OF CHINESE WORKER 33%. IMMEDIATELY Follows rash of suicides at factories that produce Apple and other high-tech products. Honda also announces labor action resolved as workers’ rights movements gain traction in Asia. (NYT)

SEE STEVE TALK. JOBS ANSWERS RANGE OF QUESTIONS ON APPLE’S FUTURE What is happening with Apple and Google? Steve Jobs explains. (AllThingsD video)

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