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Morning business round-up: Spanish bond yields rise

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

The cost of borrowing for Spain has jumped above 6%, raising again the prospect of a bailout.

The yield on Spain's 10-year bonds reached 6.1%, ahead of auctions of debt on Tuesday and Thursday that could be increasingly expensive for Spain.

The nation's cost of borrowing has been rising steadily over the past four months.

Investors have been worried by data showing Spain's banks are entirely dependent on emergency ECB loans.

The next president of the World Bank will be announced on Monday. The choice is between Nigeria's Ngozi Okonjo-Iweala and the US's Jim Yong Kim.

For the first time ever, the US domination of the World Bank is being challenged - but the American is still the favourite to become the next boss.

On Friday, Colombia's Jose Antonio Ocampo pulled out of the race, calling the selection process a "political exercise".

Singapore's Temasek Holdings has agreed a deal to buy Goldman Sachs's shares in the Industrial and Commercial Bank of China (ICBC), the world's largest bank.

The state-owned fund will pick up $2.3bn (£1.5bn) worth of ICBC shares, taking its stake to 1.3% in the bank.

The head of Spanish oil giant, Repsol, has urged the Argentine government to enter a dialogue amid reports that its YPF subsidiary could be nationalised.

"The only way is to talk and talk," said Antonio Brufau, who has been in Argentina since last week.

YPF has come under sustained criticism from the Argentine government, which accuses it of failing to invest enough in local oil fields.

Spain and the EU have voiced concern at reports of a possible state takeover. Repsol currently owns a majority 57.43% stake in YPF.

India's inflation rate was little-changed in March, making a decision on interest rate cuts more complicated for the Reserve Bank of India (RBI).

Consumer prices in country rose by 6.89% from a year earlier, compared with 6.95% in the previous month.

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The RBI has been under pressure to cut its interest rates amid a slowdown in India's economy.

French utility firm GDF Suez has agreed a deal to take full ownership of UK-based energy company International Power (IP).

GDF has agreed to buy the 30% of IP it does not already own for 418p a share, valuing the company at about £22.8bn.

The UK may have avoided a double-dip recession, but the economy will stall for the rest of the year, an independent forecasting group has said.

The Bank of England's monetary policy measures have boosted confidence, but now big business needs to fuel growth, the Ernst & Young Item Club said.

It forecasts "dismal" growth of 0.4% this year, rising to 1.5% in 2013.

Later on Monday, Oracle's claim that Google violated several of its patents and copyrights goes to trial in a San Francisco court.

It is one of the biggest such tech lawsuits to date. Oracle is claiming about $1bn (£630m) in compensation.

The Java developer claims Google's Android system infringes intellectual property rights relating to the programming language.

The latest Business Daily podcast, Emma Jane Kirby reports from Paris on Nicolas Sarkozy's presidential campaign, and Lesley Curwen talks to Dr Gemma Calvert, a founder of Neurosense which uses brain imaging to measure reactions to companies' products.

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