News Today - May 5

* Reports say U.S. government may order 10 or so banks to boost capital levels, but insurer AIG won't need further help from Washington.

* The first reported case of H1N1 in the city and the first case of SARS in 2003 both occurred at properties owned by one small hotel chain. full story

* U.S. automaker GM says its sales in China rose 50% in April, setting a monthly record for the company's results in that country.

* Fiat Group, fresh from an agreement to buy a piece of troubled automaker Chrysler, has plans to purchase GM Europe and spin off the recombined carmakers into a new company. If successful, the new company would become one of the largest car manufacturers in the world behind Toyota. The combined company would generate about $100 billion annually with sales of between 6 and 7 million cars a year.

* Chrysler's plans to scale down its offshore outsourcing may mean reduced biz for its vendors such as TCS, Wipro and Satyam

* The U.S. is expected to direct about 10 of the 19 banks undergoing government stress tests to boost their capital, according to several people familiar with the matter, a move that officials hope will quell fears about the solvency of the financial sector.

* The U.S. banking sector is likely to see further consolidation and JPMorgan Chase may be called on by regulators for more acquisitions, Chief Executive Jamie Dimon said on a webcast call Monday.

* The European Union sharply lowered its forecast for both the union and the countries that use the euro, saying the economy will shrink 4 percent this year