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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 07/07/10

July 7, 2010

BP EXEC HAYWARD VISITS ABU DHABI BP CEO Tony Hayward visits Abu Dhabi, fueling speculation that the oil company is seeking the support of the Middle East oil industry.  (WSJ)

SAMSUNG PROJECTS RECORD Q2 PROFITS Samsung Electronics Co. forecasts a second quarter operating profit of close to a record $4.2 billion. (BusinessWeek)

PEUGEOT’S FIRST HALF SALES RISE 17% Sales of new Peugeot Citroen vehicles rise 17% for the first half of the year, thanks to strong sales growth in China. (MarketWatch)

OIL STAYS BELOW $72 BEFORE US CRUDE SUPPLY REPORT Crude oil prices hover below $72 as investors await for data on the US crude supply. (AP)

MARKS & SPENCER SALES RISE, BUT SLOWLY Marks and Spencers posts another strong Q1 sales report, although its rate of improvement decreases from previous quarters. (Reuters)

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