While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 07/19/10

July 19, 2010

EUROPE SHARES SLIDE FOR THIRD STRAIGHT DAY Bank stock prices drop after recent poor macro-economic figures. Downgrade of Ireland’s sovereign bond ratings by Moody’s adds to market nervousness. (Reuters)

MOODY’S DOWNGRADES IRISH GOVERNMENT BOND RATINGS Credit agency drops ratings to Aa2, blaming banking liabilities, weak growth prospects and a substantial increase in the debt to GDP ratio. (Irish Times)

AIRBUS, BOEING POISED TO WIN NEW ORDERS Deals slated for Farnborough Air Show, which opens Monday. Aircraft industry expected to bounce back after sales drought at last year’s Paris Air Show. (Bloomberg)

ECONOMISTS: U.S. JOB OUTLOOK IMPROVING National Association for Business Economics says payrolls grew for second consecutive quarter. Percentage of firms increasing staff levels grew to 31% in the quarter, versus only 6% in the same period a year ago. (CNN Money)

REPORT: MOTOROLA TO SELL WIRELESS EQUIPMENT ARM TO NOKIA SIEMENS The $1.3 billion deal could boost North America presence for Nokia Siemens Networks, a joint venture between Finland’s Nokia Oyj and German firm Siemens AG. (Bloomberg)

BONUS: IS OIL CAP LEAKING? U.S. GOVERNMENT WANTS ANSWERS FROM BP Letter sent to BP after initial signs that its damaged Gulf of Mexico oil well is leaking again, five days after a cap stopped flow. (Guardian)


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