While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 07/15/10

July 15, 2010

U.S. HOME FORECLOSURES EXPECTED TO REACH ONE MILLION Nearly 528,000 homes were taken over by lenders in the first six months of the year, on track to eclipse the more than 900,000 homes repossessed in 2009, according to new industry data. (AP)

EUROPEAN STOCKS RECOVER AFTER EARLY LOSSES Carmaker and health-care stocks advance after early drop spurred by Spanish bond sale. (Bloomberg)

CHINA ECONOMY COOLING (AS PLANNED) Slowdown in second quarter comes as Beijing steers monetary and fiscal policy back to normal after a record credit surge to counter the global crisis. (Reuters)

BP SET TO TEST STRENGTH OF WELL CAP Latest attempt to stem flow of oil in Gulf of Mexico is met with skepticism from all sides. (BBC video/article)

ZAPATERO VOWS TO CUT DEFICIT, AS BANK DATA SHOWS RECORD BORROWING Prime Minister uses annual address to vow tighter finances, as June loans from the European Central Bank reach new heights. (WSJ)


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