China's economy soars 11.1 per cent: inflation at 3.3 per cent
China's economy grew at 11.1 per cent in the first quarter of the year against a year earlier, raising fears that the government would raise interest rates to reduce the risk of overheating.

China's growth accelerated from 10.4 per cent in the previous quarter, the country's statistics bureau said in Beijing on Thursday. China's benchmark stock index fell 4.7 per cent before the release, triggering declines in Asian and European shares, on speculation that borrowing costs will rise.

Inflation accelerated to 3.3 per cent the fastest pace in more than two years, and breached the central bank's 3 per cent target for the year. Food prices were mainly responsible for March inflation, economists said.

The yuan traded at 7.7168 against the dollar at 5.11 pm in Shanghai, almost the strongest since the currency's peg was scrapped in 2005.
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Google's Double Click acquisition challenged
San Francisco: Consumer privacy have filed a complaint with US regulators groups to block Google Inc.'s $3.1 billion deal to buy online ad supplier DoubleClick Inc on grounds of violation of privacy.

The groups led by the Electronic Privacy Information Center have filed the complaint with the US Federal Trade Commission arguing the merger would violate agreed limits on how much data advertisers collect on consumers and seeking an injunction.

The group argued that Google's proposed acquisition of DoubleClick will give one company access to more information about the Internet activities of consumers than any other company in the world.

New York-based DoubleClick responded by denying any plan by Google and itself to link the various pools of anonymous data their automated services collect on consumer Web surfing and Internet search behavior.
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