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Telefonica To Sell Shares Of China Unicom For $1.4B

Telefonica SA (NYSE: TEF), Europe's largest telecommunications operator by revenue, will sell part of its stake in China Unicom (NYSE: CHU) for $1.4 billion to reduce debt as the eurozone debt crisis stresses Europe's economy and corporations based there.
Inflationary Pressures Easing

Retail Sales, Manufacturing And Trifecta Of Inflation Data: Economic Events For June 11-15

This week's data releases could reignite hopes that the Federal Reserve will soon provide more policy stimulus. May's producer price index and consumer price index should show that inflationary pressures are easing, with the latter falling below the Fed's 2 percent target rate. Retail sales and industrial production figures for May are likely to come in on the soft side, as well.
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India Could Be 1st BRIC To Lose Investment Grade: S&P

Standard & Poor's said on Monday that India could become the first of the so-called BRIC economies to lose its investment-grade status, sending the rupee and stocks lower, less than two months after cutting its rating outlook for the country.
Hang Seng Index

Chinese Shares Surge On Spain Aid Deal

Stock markets in China and Hong Kong gained Monday as sentiment was buoyed on news that the euro zone will provide financial assistance to help Spain's troubled banks.
Rupee

Rupee Posts First Weekly Gain in 2 Months

The rupee weakened on Friday on worsening global risk sentiment, but posted its first weekly gain against the dollar in more than two months as the local currency recovers from oversold conditions.
Asian Markets

Asian Markets Likely To Maintain Gains Next Week

Asian stock markets reported their first weekly gains in six weeks amid hopes that major central banks, including the U.S. Federal Reserve, might act to tackle deteriorating global economic conditions.

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