Here’s what you need to know this morning:
- Europe’s sovereign debt crises continue to be at the centre of the world’s news today as the euro continues to fall against the dollar. Spain’s debt auction today produced positive results, but concerns remain over the high yield the bonds sold with at market. Check out everything you need to know about the Spanish debt crisis >
- China’s markets are under pressure today from further government tightening aimed at halting the country’s real estate bubble. The measures look to stop developers from spending funds from pre-sales on new projects, prior to the original project’s completion. Check out just how serious China’s real estate bubble is >
- BP is under additional downward pressure today with Moody’s saying it now has a negative outlook on the company. BP’s CEO has spoken out publicly, defending his company, in the wake of the Louisiana offshore oil disaster. Check out photos of the BP oil well explosion >
- It has emerged that highly scrutinized financial firm Goldman Sachs is now paying more for cash on the open markets than bailed-out Citigroup. Goldman’s bonds are now seen as a more substantial risk than Citi’s. Check out the new winners and losers from Goldman’s fraud fallout >
- French bank BNP Paribas informed markets of a significant exposure to the Greek crisis, amounting to $6.49 billion. The company also announced better than expected Q1 earnings results. See who else gets pounded in a Greek default >
- U.S. health insurer Cigna has beat earnings estimates as the company has seen off the immediate impact of the government’s health care reform bill. Net income rose to $283 million, from $208 million in Q1 2009.
- Insurance giant Swiss Re surprised the markets with better than expected Q1 earnings even though it faced significant catastrophe risk in the time period. Chile’s earthquake and a massive European winter storm were not enough to halt the company’s forward progress.
- Japanese video game manufacturer Nintendo posted a profit decline in Q1 2010 as demand for the company’s consoles and games declined. Competitors to the company are starting to better compete with its sales of the Wii and DS game consoles.
- The Senate voted yesterday to support an amendment to Sen. Dodd’s financial reform bill that would aim to prepare for the breakup of large financial institutions. Republicans and Democrats are in agreement over the anti-“too big to fail” measures, though have yet to agree on other parts of the bill.
- The UK goes to the polls today in what is an extremely tight election, where the leading Labour party has fallen behind both the Conservatives and Liberal Democrats in the opinion polls. We’ll have coverage here at Business Insider as polls close this evening. Check out how to play today’s poll results >
- Bonus: Sarah Palin has admitted she doesn’t like looking at pictures of herself, in response to her appearance in Time Magazine’s 100 most influential people list.
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