News Today - May 12

* China's deflation moment Wholesale and consumer prices decline at a quicker pace in April, but analysts say the trend is likely temporary.

* Government "stress tests" of how 19 major banks would endure a sharp downturn in the economy already appear to be helping banks gain access to private capital, a key element in economic recovery, Federal Reserve Chairman Ben Bernanke said on Monday.

* General Motors is open to considering moving its headquarters from Detroit, selling off U.S. plants and even renegotiating parts of its restructuring plan with its major union, the new chief executive said Monday.

* Four big U.S. banks Monday announced plans to sell more than $6 billion of common stock, in an effort to raise capital and repay funds received under the government's bank bailout program.

* Measures taken by the Reserve Bank of India (RBI) have arrested the rate of decline in the economy and inflation is not a concern for now, one of its deputy governor said on Monday.

* Bank of Korea's monetary policy committee, led by Gov. Lee Song-tae (left), leaves interest rates unchanged at a record low of 2.0%, as expected.

* China's April exports contracted 22.6% from a year earlier, accelerating from a 17.1% slide March, while imports were down 23% on year, compared to a 25.1% decline in March, according to data released Tuesday by the National Bureau of Statistics.