While U Slept: Big 5 Stories Breaking Overnight. Wednesday, November 24, 2010

NEW ZEALAND MINERS DEAD AFTER SECOND BLAST New Zealand police say there is no chance that the 29 trapped miners survived, after a second blast ripped across the mine. (AFP)

HOMELAND SECURITY TO DISCONTINUE COLOR-CODED TERROR ALERT SYSTEM Sources tell the AP that the Department of Homeland Security will discontinue its color-coded system of terror alerts, though it’s not clear what system will replace it. (AP)

BELGIUM ARRESTS 9 TERROR SUSPECTS Belgian authorities charge 9 people suspected of having links to a Chechen-affiliated Islamist terrorist group. (AFP)

UK ECONOMY CONTINUES TO GROW New statistics show that the UK economy expanded 0.8% in the third fiscal quarter, boosted by favorable trade figures. (FinancialTimes)

PORTUGAL STRIKES IN PROTEST OF AUSTERITY MEASURES Portugal’s leading unions stage the first joint strike in 20 years, in protest of the government’s proposed austerity measures. (Reuters)

While U Slept: Biz & Buz. Big 5 Business Stories Breaking Overnight. 07/13/10

CHINA SHARES END LOWER ON TIGHT PROPERTY MARKET Chinese shares end down Tuesday, after Beijing reiterated its intent to regulate a hot property market. (WSJ)

EUROPEAN STOCKS RISE, BP SURGES European stocks are up in early trading, as BP stocks rise 4.9-percent, in the wake of a new cap placed on the lingering Gulf oil spill. (Bloomberg)

IEA SAYS WORLD OIL DEMAND WILL RISE 1.6% IN 2011 The IEA forecasts global oil demand to rise by 1.6% next year, on the strength of a growing world economy. (BusinessWeek)

UK INFLATION FALLS IN JUNE UK’s inflation falls from 3.2% in June, from 3.4% in May, although the year-on-year rise is still well above the Bank of England’s target of 2%. (BBC)

MOODY’S DOWNGRADES PORTUGAL’S BOND RATING Moody’s cuts Portugal’s bond ratings by two notches, due to weak growth prospects and the lingering possibility of further financial deterioration. (MarketWatch)