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While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 07/14/10

July 14, 2010

SURPRISE EARNINGS REPORT FROM INTEL SPURS GLOBAL MARKETS World stock markets advance on better-than-expected earnings from chipmaking giant Intel that ease fears of stalled global recovery. (Bloomberg)

GOOD NEWS ON UK EMPLOYMENT DATA Two key measures of unemployment both fall in June and May, while employment rose by the largest amount in almost four years, in line with economists’ forecasts. (WSJ)

EURO NEAR TWO-MONTH HIGH AGAINST DOLLAR Strong US corporate earnings combine with easing concerns about euro zone sovereign debt strengthen European single currency. (Reuters)

SINGAPORE SEES ECONOMY SOARING 15 PERCENT THIS YEAR New forecast comes after record expansion in the second quarter that suggests Asia’s recovery from the global recession remains on track. Singapore GDP for April through June grew 19.3 percent from a year earlier. (AP)

EBAY HIT WITH HUGE LAWSUIT Internet giant XPRT Ventures LLC sued for $3.8 billion by a Connecticut company that accuses eBay of infringing six patents to develop lucrative payment systems such as PayPal. (Reuters)

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