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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 06/24/10

June 24, 2010

STOCKS, OIL SLIDE ON FED’S PESSIMISM Outlook of slowdown of US economic recovery spurs losses in Asia, weak opening trading in Europe. Crude prices also drop, though dollar looks to recover from previous session drops. (Reuters)

JUDGE TOSSES VIACOM’S $1 BILLION COPYRIGHT CASE AGAINST YOUTUBE/GOOGLE Huge legal victory arrives for video platform and its parent search company, as judge agrees to toss out copyright infringement claim before even going to court. (TechCrunch)

TOYOTA CHIEF BOWS IN APOLOGY TO SHAREHOLDERS Company President Akio Toyoda bows deeply and tells shareholders that quality and reputation will be fixed after massive global recalls of Toyota vehicles. (AP)

ABU DHABI INVESTORS TAKE STAKE IN ITALY’S BIGGEST BANK Aabar Investments PJSC, already largest shareholder in Daimler AG, takes 4.99 percent stake in UniCredit SpA, Italy’s biggest bank. (Bloomberg)

APPLE MANIA FLIPS BACK TO IPHONE New iPhone4 on sale today, lines form from Tokyo to London to first arrivals in USA. Questions about reception remain. (BBC)

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