News Today - June 12

* Hopes for a China-led recovery to the world economy got a reality check Thursday, as government data showed the country's exports in May fell a record 26.4 percent compared to last year. full story

* Bank of America chief Ken Lewis says he felt pressure from the Federal Reserve and Treasury when he hinted he'd balk at the Merrill Lynch deal.

* BlackRock, the giant U.S. money manager, said on Thursday it will buy Barclays Global Investors for $13.5 billion in a deal that will make it the world's biggest asset manager.

* India's largest software exporter, Tata Consultancy Services, is hopeful but cautious that the worst is now over, the company's chief financial officer says in an interview.

* WHO declared swine flu a global pandemic, says its spreading fast.

Related articles

• Lewis denies Fed 'threats' forced Merrill Lynch takeover (financialpost.com)
• Emails leave electronic trail to the heart of the financial crisis (telegraph.co.uk)
• US role in bank takeover examined (news.bbc.co.uk)