A sharp increase in costs hurt Google’s (NASDAQ: GOOG) first quarter earnings. (Reuters)

Bank of America (NYSE: BAC) is expected to beat earnings forecasts but mortgage costs will hurt its numbers. (Reuters)

Banks are close to a settlement with the government over mortgage foreclosure practices. (WSJ)

China’s economy grew 9.7% in the first quarter by inflation was up 5.4%. (Reuters)

China’s inflation drop gold to an all-time high. (Reuters)

Research In Motion’s (NASDAQ: RIMM) Playbook tablet received poor reviews. It cannot send email unless tethered to a BlackBerry. (Reuters)

A Groupon IPO could set the firm’s value at $20 billion. (Reuters)

Best Buy (NYSE: BBY) will shrink some of its largest stores and open smaller ones as it hopes to challenge Walmart (NYSE: WMT) and Amazon.com (NASDAQ: AMZN). (Reuters)

Chrysler is close to refinancing its debt. (Reuters)

The price of Zipcar’s stock rose sharply after its IPO. (Reuters)

G-20 efforts to drive global growth are not likely to advance at its upcoming meeting. (WSJ)

Moody’s downgraded Ireland’s debt. (WSJ)

Comcast’s (NASDAQ: CMCSA) NBCU unit will more aggressively pursue sports programming. (WSJ)

BRIC nations called for more regulation of commodities prices. (WSJ)

GlaxoSmithKline will sell its Alli OTC obesity drug unit. (WSJ)

Kirk Kerkorian will leave the MGM board. (WSJ)

Mobile app growth has been limited by the number of qualified engineers. (WSJ)

India monetary policy may hurt fund costs for expanding business. (WSJ)

There is pressure to unwind the CVC merger with Caremark. (NYT)

Customers of IBM (NYSE: IBM) want it to press further into the world of cloud computing. (NYT)

BP plc (NYSE: BP) got an extension in its talks with Rosneft as it tries to drill in the Arctic. (NYT)

Geithner worked to play down concerns about US debt. (FT)

China denied rumors it would help Spain’s banks. (FT)

Greece will offer new austerity measures to show it can comply with bailout demand. (Bloomberg)

India inflation rose to 8.98%. (Bloomberg)

Douglas A. McIntyre

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