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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. June 11, 2010

June 11, 2010

CHINESE INFLATION REACHES 19-MONTH HIGH Figures released out of Beijing today show that consumer prices have risen by their fastest rate in 19 months, while retail sales and industrial production data showed similarly robust growth. (NYT)

SPAIN SAYS IT WILL NOT REQUEST AID FROM THE EU After media reports speculated that the EU was preparing an economic recovery package for Spain, Spanish leaders announce today that they have not, and will not seek any aid from Brussels. (Reuters)

SHARES IN BP OPEN HIGHER IN EARLY TRADING After falling by 6% on Thursday, shares in British Petroleum open 5% higher in early Friday trading. Since the Deepwater Horizon oil rig exploded on April 20, however, the company’s stock value has been sliced in half. (BBC)

HIGHER EURO, HIGH-LEVEL RESIGNATION PUSH TOKYO’S STOCKS HIGHER
With the euro gaining on the yen, and with the resignation of regulation-friendly financial services minister Shizuka Kamei, the Nikkei 225 Stock Average rises 1.7%, to close at 9705.25. (WSJ)

FUJITSU, TOSHIBA RUMORED TO DISCUSSING POSSIBLE CELL-PHONE MERGER Officials at Toshiba and Fujitsu confirm that the two corporations are discussing the possibility of merging their mobile phone units, a move that would create the second largest handset producer in Japan. (BusinessWeek)

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