Business

Morning business round-up: IMF succession

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

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As IMF chief Dominique Strauss-Kahn was held in a New York prison, attention turned to who might take over from him.

Developing countries are seeking more influence on the world stage as their economic clout increases, and they are expected to battle for the top job.

Having given the go-ahead for Portugal's bail-out on Monday, the attention of eurozone finance ministers meeting in Brussels is expected to switch to the state of the Greek economy.

Greece got a 110bn euro ($136bn; £94bn) bail-out in 2010, but there is growing acceptance that it was not enough.

The UK's Consumer Prices Index measure of inflation jumped from 4% in March to 4.5% in April.

The rise was due to a jump in transport costs, particularly Easter rises in air and sea fares, and alcohol and tobacco, the Office for National Statistics said.

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Rolls-Royce has launched an investigation after a plane carrying 136 people had to make an emergency landing in Singapore.

The Cathay Pacific Airbus A330-300 experienced problems in one of its two Rolls-Royce engines shortly after taking off for Jakarta.

The plane landed safely on Monday without injuries.

BP has said that it will continue talking to Russian oil giant Rosneft about a share swap, after a deadline for the deal expired at midnight.

Together with its existing Russian partner AAR, BP said it would continue to try to find a way for the three parties to reach agreement.

AAR, which owns half of Russian joint venture TNK-BP, has blocked BP's proposed share swap with Rosneft.

Toyota car owners in the US can pursue claims that the carmaker caused the value of their vehicle to fall, a federal judge has ruled.

The owners argue they have suffered economic losses because Toyota did not disclose or fix defects that made their cars accelerate suddenly.

Toyota had made a motion for the lawsuits to be dismissed but a US judge has allowed the claims to move ahead.

To hear about some of the wider trends in the world of business, listen to our Business Daily podcast which looks at whether Africa is being colonised by foreign business schools teaching irrelevant subjects to local students.

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