News Today - 03 June

* The Australian economy confounds the experts by posting growth of 0.4%, avoiding two straight quarters of contraction despite predictions.

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U.S. analysts say Treasury chief did a good job in handling Chinese leaders during his Beijing trip, despite tensions simmering below the surface.

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Toyota said on Tuesday that the US automotive market appeared to be recovering even as it posted a 38 per cent drop in May US sales

* Bank of America Corp, JPMorgan Chase & Co and several other banks said they have raised more than $19 billion as lenders scramble to repay TARP funds

* Bankrupt General Motors says it has reached a tentative deal to sell Hummer, its military-styled vehicle line, to a machinery maker based in western China.

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