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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. Wednesday, 06/09/10

June 9, 2010

REPORT OF CHINESE EXPORT SURGE LIFTS MARKETS China’s exports in May grew a surprising 50 percent from a year earlier, signaling a strong global recovery and fueling rise in stock markets in Asia and Europe. (FT/Reuters)

MARKETS OPTIMISTIC ON BERNANKE VISIT TO CONGRESS The fed chairman’s morning Budget Committee testimony is likely to push for deficit cutting, but signal further hopes for recovery. (AP)

TOP SPANISH BANK WILL BUY B OF A’S STAKE IN MEXICAN HOLDING Banco Santander will pay $2.5 billion for 25% stake in its own Mexican arm, which had been held by the US banking giant. (NYT)

NEW JAPAN FINANCE MINISTER SAYS NO YEN MANIPULATION After the government shuffle, Yoshihiko Noda indicates that national goal of deflation may be more restrained than predecessor Naoto Kan, who has openly called for a weaker yen. (WSJ)

REPORT: HULU TO CHARGE, TURN TO DEVICES The until-now free online video platform will seek revenue in subscriptions and relationships with the Xboxes and iPads of the digital world. (Reuters)

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