Morning News Summary for May 13, 2011

Strong performances by the German and French economies propelled growth in the euro zone well above forecasts in the first quarter. The 17-nation currency area expanded by 0.8 percent in the first three months of the year, data showed on Friday, fueled by startling 1.5 percent German GDP growth with the French economy only a little off that pace, increasing by 1 percent. More information can be found here. Yum Brands, parent of the KFC, Taco Bell and Pizza Hut fast-food chains, has offered to buy out China's Little Sheep for $586 million, paying a premium to introduce the popular hot pot chain to a global audience and sending the Chinese restaurant shares to a record. Analysts said the deal was positive for both Yum Brands as it expands in China and for Little Sheep, which has more than 300 hot-pot restaurants, primarily in China, as it would help save costs. More information can be found here. Nordstrom JWN forecast 2011 profit below analysts' view on charges related to its HauteLook acquisition. The forecast from the retailer came just hours after lower-priced chain Kohl's Corp KSS -- which earlier on Thursday raised its full-year forecast -- said that exclusive merchandise such as an upcoming line of Jennifer Lopez clothing would help sales. More information can be found here. DuPont's DD $6.4 billion bid for Denmark's Danisco faces a make-or-break deadline on Friday, when the U.S. chemicals group will find out if it has done enough to clinch the deal. Danisco's chief executive is betting that the takeover will happen. More information can be found here. Toyota Motor Corp T said it had received 25,000 orders for the Prius Alpha hybrid wagon and minivan models in Japan before sales start on Friday, underscoring strong demand for fuel-sipping vehicles as gasoline prices rise. That is equivalent to more than eight times its monthly sales target of 3,000 units. More information can be found here. Finally, S&P lowered TEPCO's rating today to BBB, putting the firm on CreditWatch Developing.