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What's In The News: June 6, 2011

Financial News Network
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June 06, 2011 AT 8:15 PM
This is what's in the news for Monday, June 6th. The People's Daily, the leading newspaper of China's ruling Communist Party says that Google (NASDAQ:GOOG) has become a "political tool" vilifying the Chinese government and warns that the company's statements about hacking attacks traced to China could hurt its business. The Wall Street Journal reports that Fiat says they offered about $125M to the Canadian government to acquire its 1.7% stake in Chrysler. the Wall Street Journal reports that News Corp. (NASDAQ:NWSA) is moving toward a deal for Myspace, with a strategic partnership appearing more likely than a straight sale. Finally, Reuters reports that Tesoro (NYSE:TSO) will stay focused on the U.S. West coast for acquisitions as the refining industry in the world's top oil consumer undergoes an overhaul that will likely see more plants up for sale.