- BP chief executive Tony Hayward has been told by an angry US Congressional panel his firm ignored dangers when drilling in the Gulf of Mexico.
- The World Bank has reiterated its view that the Chinese government should allow the yuan to strengthen against other international currencies.
- EU leaders have agreed to publish "stress tests" of banks next month to show investors where any potential risks lie.
- Internet company AOL has sold Bebo, the social networking site it bought two years ago for $850m (then £417m).
- US consumer prices fell for a second straight month in May, after energy prices dropped sharply.
- Japanese electronic groups Toshiba and Fujitsu have announced their intention to merge their mobile phone businesses in October this year.
- UK retail sales rose strongly in May, with analysts citing the World Cup as the main reason for the pick-up.
BBC Business News 18th June 2010
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