TOKYO — Japan lost its place as the world’s No. 2 economy to China in the second quarter as receding global growth sapped momentum and stunted a shaky recovery.
Gross domestic product grew at an annualized rate of just 0.4 percent, the government said Monday, far below the annualized 4.4 percent expansion in the first quarter [...]

By Calum MacLeod, USA TODAY
BEIJING — This year, China will leapfrog Japan to become the second-biggest economy on Earth, behind only the USA, predicts Ting Lu, a China economist with Bank of America-Merrill Lynch. Next month, China starts broadcasts on CNN and other networks of an image-boosting commercial featuring stars such as basketballer Yao Ming [...]

Although not traditionally known for its contributions to the open-source community, the German-based SAP is adopting more open-source software, as well as contributing more of its own code back into the community, company officials said in an interview.
“In the past we didn’t have an open-source strategy,” said Claus von Riegen, SAP’s program director of technology [...]

BERLIN – Theo Albrecht, the secretive co-founder of Germany’s worldwide discount supermarket chain Aldi, a co-owner of Trader Joe’s in the United States and one of Europe’s richest men, has died at age 88.
The retail machine that Albrecht built with his brother Karl has won over German consumers with their no-thrills but super-cheap offer, making [...]

NEW ORLEANS – Scientists huddled Tuesday to analyze data from the ocean floor as they weigh whether a leaking well cap is a sign BP’s broken oil well is buckling.
Oil and gas started seeping into the Gulf of Mexico again Sunday night, but this time more slowly, and scientists aren’t sure whether the leaks mean [...]

THE British government is drawing up contingency plans for a possible collapse of BP.
This is amid mounting fears that the oil giant could be broken up or taken over in the wake of the Gulf of Mexico oil disaster.
The talks, which are being led by officials at the Department for Business and the Treasury, reflect [...]

While other EU countries have reaped a tourist bonanza over the last decade, Denmark has missed out on billions
A new report by consultancy firm Copenhagen Economics has estimated that Denmark has missed out on earnings of 10 billion kroner, and 16,000 potential jobs in tourism, since 2000 because it has failed to keep up with [...]

HELSINKI – Nokia Corp. warned Wednesday that its earnings this year will be hit by tough competition from rivals in the smart phone market. The news sent its stock down 9 percent.
The world’s largest mobile phone maker said competition “particularly at the high-end of the market” would force net sales in the current period to [...]

LONDON – Technophiles mobbed Apple Stores in Europe and Asia on Friday in a quest to snatch up the hottest gadget of the moment – the iPad.
Long lines snaked down streets in London, Paris, Frankfurt and Tokyo as eager buyers vied to wield their credit cards. Screams and cheers rose from the crowd in central [...]

SINGAPORE – Oil prices fell to near $69 a barrel Tuesday in Asia as plunging regional stock markets and a weaker euro rattled the confidence of commodity investors.
Benchmark crude for July delivery was down $1.08 to $69.13 a barrel at midday Singapore time in electronic trading on the New York Mercantile Exchange. The contract advanced [...]