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Higher Oil Prices Send Asian Shares Up

Asian investors brushed aside worries over continuously rising Chinese inflation today, focusing instead on bargain shopping. Energy companies were a major attraction as oil prices surged. Hong Kong's Hang Seng Index climbed 1.1% and China's Shanghai Composite Index advanced 0.9%. In Japan the Nikkei 225 Index edged up 0.6%.

Sharp to Buy Solar Power Developer Recurrent Energy

Japanese electronics company Sharp is turning up the heat in the increasingly competitive solar energy market, announcing plans Wednesday to acquire solar energy producer Recurrent Energy in a cash deal worth upwards of $305 million.

HP Recalls Notebook Batteries Due to Fire Hazard

Hewlett-Packard has begun a voluntary recall of 54,000 lithium-ion batteries used in notebook computers that "can overheat, posing a fire and burn hazard to consumers," according to the Consumer Product Safety Commission.