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What's In The News: June 7, 2011

Financial News Network
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June 07, 2011 AT 9:40 PM
This is what's in the news for Tuesday, June 7th. Bloomberg reports that GE (NYSE:GE) and Capital One Financial (NYSE:COF) submitted bids for ING's (NYSE:ING) U.S. online bank last week in a sale that may raise about $9B. The Wall Street Journal reports that BP (NYSE:BP) is preparing to sell a large part of its stake in its Russian venture, TNK-BP to Rosneft in a bid to salvage a landmark cooperation deal with the Russian state oil company. Finally, the Wall Street Journal reports that technology market watcher IDC lowered its forecast for PC unit shipment growth this year, while Intel (NASDAQ:INTC) is more optimistic. IDC predicted growth of 4.2% because of slowing laptop PC purchases in mature markets that partially reflects a shift to tablet devices like the iPad (NASDAQ:AAPL). Intel recently said it expects PC unit shipments to grow 11% this year.