Roberto Abraham Scaruffi

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June 14, 2011 -- 6:00 a.m. GMT+08:00

Visit WSJ.com at U.S. | EUROPE | ASIA News by section: Front Section | | Opinion | Front Section |   FRONT SECTION 1 China Banks Curb Yuan Loans China reported a sharp slowdown in credit growth in May, and money-supply growth also slowed, but expectations of another high reading for inflation Tuesday prompted analysts to predict still more tightening ahead for the world's No. 2 economy. • China Real Time: Economists React Saab Seeks Deal With Chinese Firms Saab owner Spyker Cars signed a $351.5 million rescue package with two Chinese firms that effectively would transfer control of the Swedish auto maker to the Chinese companies. Vietnam Downplays South China Sea Drill Vietnam changed its tone slightly in an emerging standoff with China as it sought to downplay a live-fire naval drill it held in the South China Sea. 2 • What's News—   3 • High Level of Toxins in Water at Japan Plant Raises Risks   4 • Unrest Continues to Rock Chinese Town • Sizing Up Economy Isn't as Simple as Studying GDP   5 • China to Lower Beijing-Shanghai Fast-Train Fees   6 • North Korean Ship Is Turned Back in South China Sea • Aftershocks Hit New Zealand's Christchurch • Some Flights Resume Amid Ash Cloud Concerns   7 • S&P Slashes Greece Rating • Italians Vote to Abandon Nuclear Power   8 • CAPITAL JOURNAL: Political 'Flight to Safety' Aiding Romney's Candidacy • Europe's Central Banker Defends Currency   FRONT SECTION 14 THE OUTLOOK What It Would Take to Do a Double Dip For those fretting that a string of disappointing U.S. economic data presage a double dip in the recession, there is good news and bad news. Sluggish Hiring Seen as a Threat to Recovery The potential for a persistent slowdown in hiring is the biggest threat to the U.S. recovery, according to economists in the latest Wall Street Journal survey. • Video: No Light Ahead for U.S. Job Seekers • The Outlook: What It Would Take to Do a Double Dip • Charts and Data: Jobs, housing, GDP, more •  Details on WSJ Survey: Fed on Hold, No QE3 Europeans Found Taxed Heaviest: Russia's Rich Have Lightest Load Income in Western Europe remains the most heavily taxed in the world, while America's rich have heavier tax burdens than do America's poor when compared to their equivalents in other countries, according to a new survey. 15 • The Easy Credit That Fueled Brazil's Boom Now Imperils It View the latest What's News Online Past Editions of In Today's Paper 9 Art Basel Unshackles the Mind At the Venice Biennale, you look. At Art Basel, you buy. For the fair's 42nd edition, around 300 galleries from 36 countries will bring works by more than 2,500 artists of the 20th and 21st centuries. 10 • Resort Wear Stretches to Embrace Surf, Scuba • TRICKS OF THE TRADE: Dark Secrets: Sunglass Designer Picks His Shades   OPINION 11 Europe's Organic Food Scare Bart Simpson as chief safety technologist. The Wisdom of the Turks Erdogan gets a third term, but with important checks on his power. The EPA's War on Jobs Administrator Lisa Jackson is using the agency's mercury rule to punish coal-fired power. 12 OPINION • OPINION INDIA: A Portrait of India's Intolerance • An Antiterror Roadmap   13 OPINION • Turbulent Waters in the South China Sea •  ROBERT BRYCE : America Needs the Shale Revolution   17 Bankers Seek That Luxury Touch from China China's consumers have proven their interest in buying luxury brand names. Now, China's investors may do the same. China Jitters Delay Companies' Dollar Bonds Two China-based companies have delayed U.S.-dollar bond issues in Hong Kong in a sign that economic worries and a U.S. probe into the accounting practices of Chinese firms are hitting broader bond-market sentiment. In China, Women Begin Splurging A growing number of luxury brands in China have revamped their marketing tactics to also appeal to self-made female entrepreneurs. • Scene: Chinese Men Get Their Lux Due, Too 18 • Mitsubishi Expects Profit Rise Despite Quake • Maple Group Launches Hostile TMX Bid • Google Strikes Deal for Admeld   19 • VF to Buy Timberland, Offering Leg Up on Margins • Lippo Plans TV Station, Seeks Partners to Expand   20 • IBM Crafts Succession Plan • Vaccine Charity Raises $4.3 Billion • Merck Buys Hanwha Drug-Marketing Rights   21 • Japan's Advantage and How the Cadillac Lost Its Shine   22 • Bank Probes Its Executives • Citi Defends Delay in Disclosing Hacking • Citigroup to Cut Stake in India's HDFC   23 • Banking Via a Cellphone and a Shack   24 • SMFG Looks to Jump Into Booming Asian Markets • ABREAST OF THE MARKET: Gold Miners Wield Dividend in ETF Fight • U.S. Scores Three More Insider-Trading Convictions   26 • CURRENCY TRADING: Hope for Greek Debt Deal Lifts Euro • Japanese Yields Rise • CREDIT MARKETS: Treasurys Erase Early Losses   27 • Blue Chips Eke Out a Gain • Hong Kong Stocks End Losing Streak • Newmont CEO: Dollar Slide, China to Underpin Gold's Move Toward $2,000   32 • HEARD ON THE STREET: TCI Takes on Japan's Heavyweight • HEARD ON THE STREET: Hardly a Golden Opportunity in China • HEARD ON THE STREET: Will Generous Pay on the Street Hit a Wall? 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