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Good morning. Here’s what you need to know.
- Asian indices were down in overnight trading with the Nikkei down 1.45%. Major European indices are mixed and U.S. markets have opened in the green.
- Germany continues to show strong growth. Industrial production grew 0.7% in March against estimates of 0.5% growth. The DAX is up 0.5% on the news. Don’t miss: The world’s 15 biggest economies and the risks they face >
- Employment data for April came in much better than expected. Read about it here >
- Annual input price inflation increased 2.6% in the UK in April, and was up to 17.6% year-on-year. This comes after UK services PMI fell short of expectations yesterday. Meanwhile Jim Rogers thinks the UK will need a bailout. Check out the signs the economy is slowing down >
- Commodities continue to slide, with oil reaching lows around of $95 today but picking up again to about $98. Silver continues to fall after its biggest one-day dollar fall since 1980.
- Mideast chaos continues with Syrian protestors planning a ‘day of defiance’ as the government continues to crackdown on demonstrations. Troops backed by military tanks have moved into the suburbs of Damascus in recent weeks. Now here are 11 countries at risk of becoming the next Libya >
- Today is the one-year anniversary of the flash crash when the DOW dropped nearly 1,000 points in about 20 minutes. The SEC claims to have measures in place that will prevent such an event from occurring again,.
- The U.S. raid on Osama Bin Laden’s compound has revealed that the al-Qaeda leader was planning an attack on the U.S. rail system on the tenth anniversary of September 11. Check out photos of the life of Osama Bin Laden >
- AIG reported at 85% drop in Q1 profits reporting a net income of $269 million on disaster claims in Japan and New Zealand. The company which is 92% owned by the U.S. government, took a charge of $3.3 billion for accelerated repayment to the Federal Reserve Bank of New York.
- Vale, the Brazilian mining company, crushed expectations when it released Q1 earnings. The company’s net profit more than quadrupled to $6.826 billion. Check out 10 facts about Brazil that will blow your mind >
- BONUS: Hilary Duff has reportedly been dropped from the upcoming Bonnie & Clyde movie remake.