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Financial News Network
July 10, 2012 AT 9:34 PM
This is what's in the news for Thursday July 5, 2012. The Wall Street Journal reports Apple (NASDAQ:AAPL) component suppliers in Asia are preparing for mass production in September of a tablet computer with a smaller screen than the iPad, suggesting a launch for the device is near. Reuters reports the European Central Bank is expected to lower borrowing costs to a record low today to support a deteriorating euro zone economy and complement measures agreed by government leaders last week to tackle the bloc's debt crisis. Reuters also reports US Airways Group (NYSE:LCC) says it's in no hurry to merge with bankrupt American Airlines (AAMRQ) and expects its rival to defer any review of a possible deal now that it has asked a judge for more time to formulate an exit plan on its own. Bloomberg reports JPMorgan Chase (NYSE:JPM), the largest global underwriter of corporate bonds, moved up eight places to number two in Asia as Hutchison Whampoa selected the bank to manage its return to the market. JPMorgan will now challenge HSBC Holdings (NYSE:HBC) at the top of Asia's dollar, euro and yen league table. Finally, Exxon Mobil (NYSE:XOM) may sell its German Esso gas station chain, which includes more than 1,100 has stations in Germany and could go for over $1.3 billion.