Reuters: The  yuan rose after China’s flexibility announcement.

Reuters:   The amount of the Gulf spill could be up to 100,000 barrels a day.

Reuters:   The government has no easy way out if the recovery falters.

Reuters:   The UK said it could dodge the fate of Greece with an austerity budget.Reuters:   The announcement on the yuan pushed oil to $79.

Reuters:   Verizon (NYSE: VZ) will let customers try its FiOS service for one month with no termination fee.

WSJ:   BP plc has been able to dodge some US demands by pushing back on two White Hose proposals.

WSJ:   VCs are putting more money into internet security firms as person data leaks more often.

WSJ:   BASF will buy Cognis for $4.1 billion.

WSJ:   Manufacturers want to expand production without taking financial risk.

WSJ:   Trichet urged more financial disclosure by nations in the EU.

WSJ:   “Toy Story 3” brought in $109 million.

WSJ:   Boeing (NYSE: BA) faces the charge that some of its pilot oxygen units are faulty.

WSJ:   Honda (NYSE: HMC) was hit by another labor stoppage in China.

WSJ:   JAL may need another $1.1 billion.

WSJ:   Acer says it will pass Hewlett-Packard (NYSE: HPQ) and Dell (NASDAQ: DELL) as the world’s No. 1 PC firm.

WSJ:   Fitch says corporate defaults have fallen to only 1%.

NYT:   Federal regulators failed to act on problems that could have caused the Deepwater Horizon spill

NYT;   Local stations have done little to comment on the Comcast (NASDAQ: CMCSA) deal to buy GE’s (NYSE: GE) NBCU

NYT:   China’s aid to labor has not helped prevent strikes.

NYT:   Special software is being used by Facebook, Yahoo! (NASDAQ: YHOO) and Google (NASDAQ: GOOG) to break down data.

FT:   BP’s Hayward will try to allay the fears of his Russian partners about its finances.

FT:   Amazon (NASDAQ: AMZN) will launch its online clothing business.

FT:   More write-downs are expected in the CDO markets.

FT:   European stress tests are raising concerns about French and German  banks.

Bloomberg:   Qatar will put $2.8 billion into the Agricultural Bank of China IPO.

Bloomberg:   China’s holdings of US Treasuries hit $900 billion.

Bloomberg:   London brokers are buying BP bonds as US firms sell them.

Douglas A. McIntyre

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