Business

Morning business round-up: Bank stress test results due

What made the business news in Asia and Europe this morning? Here's our daily business round-up:

After financial services group Irish Life & Permanent suspended trading of its shares on Wednesday, investors have been watching for the results of the latest round of banking stress tests in the Irish Republic.

The results, due out later, are expected to show the banks need an extra 30bn euros.

Microsoft has announced it is to lodge an anti-competition complaint with EU competition authorities against rival tech giant Google.

The software maker claims that Google used its dominant position in the search market to restrict the growth of Microsoft services. Google said it was not surprised by the move and would happily explain itself.

US Treasury Secretary Timothy Geithner has called for more consistency in international currency exchange rates at a meeting of the G20 in Nanjing.

Staying in China, Chinese search engine Baidu says it has deleted 2.8m works from its online library in an attempt to settle a copyright dispute with writers.

Profits at Industrial and Commercial Bank of China, the world's biggest bank by market value, have surged by 28% as China economy grows.

Media playback is unsupported on your device
Media captionBusiness headlines

Warren Buffett's heir-apparent at Berkshire Hathaway, David Sokol, has resigned unexpectedly.

His departure from the billionaire investor's Berkshire Hathaway firm comes just days after it emerged that he had bought shares in a firm before convincing his boss to buy it out.

In the UK, the troubled bank Bradford & Bingley is back in profit according to the organisation which runs the nationalised lender.

Housebuilder Taylor Wimpey has announced it is selling its North American business for $955m as it attempts to refocus on its core UK activities.

Building society Nationwide says the UK housing market will remain "sluggish" despite a rise in house prices in March.

To hear about some of the wider trends in the world of business, click through to our Business Daily podcast which examines the fears of a wider European contagion spreading from the troubled economies of Portugal, Greece and the Irish Republic.

Around the BBC