1.Subsidies to buyers are helping China auto sales soar, a move Washington might follow given personal income in the US fell as much as US$34.4 billion in March. Which doesn’t leave much cash to pay for ever-more expensive oil for those new vehicles US consumers might buy.Sinking incomes

2.With earnings season coming to an end, I wanted to find a way to depict the severity of the financial meltdown into the context of profits.S&P 500 Earnings Decline: 90%

3.AA. No, it’s not Alcoholics Anonymous, although investors could be forgiven for… Five steps to portfolio recovery

4.Investors continue to favour emerging markets despite fears that valuations may be running ahead of fundamentals.Emerging markets continue to take in new money

5.The Bombay Stock Exchange closes early after the Sensex soars 17.2% in reaction to Manmohan Singh’s re-election.Congress victory provokes frenzy in Indian markets

6.Norway voted winner of Eurovision Norway has emerged as the winner of the Eurovision Song Contest, held in the Russian capital, Moscow.Singer and violinist Alexander Rybak, 23, smashed the record for the most points awarded during the competition.

7.Photo – Romania’s glamourous popstar Elena

Source: Der Spiegel