The Morning Download

Stocks Advance in Europe, Asia

Investors See Silver Lining The stock market continues to defy sceptics and grind higher as investors grow more comfortable with taking money off the sidelines

BofA and Citi in last push on stress tests Banks plan to raise $10bn in fresh capital, BOFA needs even more than that.

Citigroup Said to Pursue Capital-Raising Maneuvers That Avert U.S. Control.   Another preferred for common swap, this one at gunpoint.

Tests of Banks May Bring Hope More Than Fear The Obama administration seems prepared to say that while a few of the biggest 19 banks may need more cash, the system is more solid than analysts fear.

Buffett Lambastes Bankers, Insurers, Regulators for ‘Greed,’ ‘Stupidity’

General Motors Bankruptcy Probable as Obama favours UAW Union Over Lenders

Chrysler Is to Seek Bankruptcy Court Approval to Sell Its Assets by May 22

Talks to avert US paper’s closure stall Boston Globe fails to agree with unions

Chan hits back at WHO critics Warning of second wave of flu cases

Swine Flu Expands to ‘Virtually All’ U.S. as Signs of Mexico Epidemic Wane

Bonds Show Lehman Bankruptcy Fading Into History as Credit Spreads Narrow

Banks Get Tough on Credit Lines Banks are shortening terms on credit lines, showing that while they are open to lending, they are cautious about doing so.

Worries Rise on the Size of U.S. Debt The government is digging itself deeper into debt, but the market for Treasuries is not infinite and interest payments are expected to balloon.

Buffett Says He Sees ‘No Signs’ of Recovery in Housing, Retail
Billionaire investor Warren Buffett, the chairman and chief executive officer of Berkshire Hathaway Inc., said he’s seen no indication of recovery from the real estate slump that helped cause the U.S. recession.

Buffett Plays Down Hoopla, Hope

Euro-Area GDP to Shrink 4% This Year, Jobless Rate to Soar, EU Forecasts

U.S. Home Prices May Be Lost for a Generation

Art prices likely to be hammered at NY auctions Insiders put valuation drop close to 50%

Ivanka Trump and other billionaire heiresses following in dads’ footsteps

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