Morning business round-up: Spain's Bankia shares suspended

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

The main event in Europe on Friday was the news that trading in shares in Spanish bank Bankia was suspended in Madrid.

It asked for them to be suspended ahead of a board meeting later on Friday to reformulate its accounts for 2011 and submit a plan to shore up its finances.

The bank is reported to be due to ask the government for a bailout of more than 15bn euros ($19bn; £12bn).

Bankia, which is Spain's fourth-largest bank, was part-nationalised two weeks ago because of its problems with bad property debt.

In China, the telecoms equipment maker Huawei filed a competition complaint against US firm InterDigital with European Union regulators.

Huawei accuses InterDigital of "abusing" its position and demanding "exploitative" fees to use its patented technology, said to be essential to 3G in mobile devices.

It added that such moves were against the EU rules which require holders to licence their patents fairly.

InterDigital said it was "committed" to those rules.

International banking giant HSBC will be the latest UK firm to face a shareholder vote on executive pay later, amid growing concern about high rewards for bosses not reflecting company performance.

The bank is holding its annual general meeting (AGM) at which shareholders get to express their views about how the company is being run.

Chief executive Stuart Gulliver is in line for a pay package worth £7.2m.

But shareholder advisory body, Pirc, is advising shareholders to vote no.

Media caption,

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In economic news, Thailand reported a surprise fall in its exports for April because of falling demand from key markets such as Europe and the US.

Shipments fell 3.7% from a year earlier. Many analysts had forecast an increase of more than 3%.

The data comes just days after the World Bank warned that the eurozone debt crisis was a threat to export-dependent economies in Asia.

Analysts said exports could come under further pressure in the near future.

And in Japan consumer prices rose in April, spurred by rising fuel costs, but growth remained below the central bank's target, official data has shown.

Prices rose by 0.2% from a year earlier, as fuel and energy costs jumped 4.7%.

Energy costs in Japan have risen after it shut all of its nuclear reactors in wake of last year's quake and tsunami.

However, prices excluding those of fuel and food fell, indicating that deflation remains a problem.

The latest Business Daily podcast is the second special programme from the Future in Review conference in Los Angeles. Lesley Curwen talks to the chief futurologist at Ford Motors and the actress Julia Ormond, and discusses whether robots could replace soldiers in combat.

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