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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. Monday, 06/05/10

July 5, 2010

CHINESE YUAN CLOSE TO MODERN ERA HIGH China’s yuan currency nears a modern era high against the dollar, largely thanks to the euro’s strengthening in Asian trading. (WSJ)

TOYOTA BEGINS RECALL OF 92,000 CARS IN JAPAN Toyota begins recalling more than 90,000 luxury Lexus and Crown Royal vehicles in Japan, due to defective parts. Company officials say international recalls will get underway shortly. (AP)

LLOYDS BANKING SELLS INVESTMENT UNIT TO COLLER Lloyds Banking Group sells its Scotland Integrated Finance investment branch to Coller Capital for 332 million pounds. (BusinessWeek)

EUROPEAN PRIVATE SECTOR GROWTH SLOWS DOWN IN JUNE The PMI composite for the 16 euro-zone nations drops from 56.4 to 56.0, during the month of June, indicating that growth of Europe’s private sector slowed down during June. (MarketWatch)

AFTER HITTING THREE WEEK LOW, OIL FUTURES RISE ABOVE $72
Prices of US crude oil for August rise to $72.70 a barrel, after prices fell every single day last week. (ForexYard)

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