While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. June 18, 2010

June 18, 2010

SPANISH BANK SANTANDER CONFIRMS OFFER FOR RBS BRANCHES Santander confirms that it has made an offer for 300 British branches of the Royal Bank of Scotland, although officials say it is still not possible to say when the tender process will end. (Reuters)

Speaking at the annual St. Petersburg International Economic Forum, Russian President Dmitry Medvedev promised that his country would lead efforts to create a ‘new world economic order,’ as the world continues to recover from the global financial crisis. (BusinessWeek)

EUROPEAN DEBT CONCERNS SUBSIDE, ASIAN MARKETS MIXED Asian markets finish with mixed results, but avoid major losses, following Spain’s successful bond auction. Japanese and Chinese markets nudge downward, while South Korea, Australia and Hong Kong’s indices rose. (AP)

DANONE TO MERGE CIS OPERATIONS WITH RUSSIAN FIRM French dairy firm Danone announces that it has signed a deal to merge operations of firms in the CIS region with those of Russia’s Unimilk, effectively giving Danone-Unimilk market share dominance in the region. (MarketWatch)

PORSCHE REPORTS LOSS, ATTRIBUTES SLIP TO VOLKSWAGEN MERGER German carmaker Porsche announces a nine-month loss of 0.7 bn euros, compared with a 4.2 bn euro profit one year earlier. Officials blamed the loss on costs related to the integration of Volkswagen shares. (IBTimes)


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