This is what's in the news for Wednesday April 11, 2012. The Wall Street Journal reports China's crude oil imports surged to near-record levels last month, as some energy analysts believe the country is hoarding oil for its strategic reserves The Wall Street Journal also reports American International Group (NYSE:AIG) plans to again invest in U.S. property, reversing efforts to downsize its real estate business after its near collapse and government bailout. Reuters reports Las Vegas Sands (NYSE:LVS) Chairman and CEO Sheldon Adelson says he plans to spend $35B on a mini-Las Vegas strip in Spain where he's courting Barcelona and Madrid. Reuters also reports Bain Capital LLC is considering raising $6B-$8B for a new global buyout fund, offering investors up to three options on fees it charges to manage the money, sources say. Bloomberg reports Credit Suisse Group (NYSE:CS) can't disclose a client's account data to U.S. tax authorities because a request for assistance last year addressed only tax evasion, not covered by a 1996 treaty, a Swiss court ruled. Finally, Bloomberg also reports money losing Liz Claiborne (NYSE:LIZ), which owns the Kate Spade brand, could still be a bargain in a takeover, as it returns to profitability in 2012, according to analysts' estimates.
