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A worker positions a drill bit high up on the derrick of a drill rig.

Oil slips in thin trading

Crude oil prices slipped 1 per cent overnight in subdued trading, on news of rising US shale production and profit-taking

Bain will acquire a large stake in Korean botox player

Bain bets $1 billion on botox

Bain Capital agreed to invest about $US816 million ($A1.07) in Hugel Inc. to gain control of the South Korea-based maker of beauty products, including the botox anti-wrinkle treatment.

China accounts for a large chunk of global debt.

Surging China tries to tame credit

China's economy expanded faster than expected in the first quarter as higher government infrastructure spending and a gravity-defying property boom helped boost industrial output by the most in over two years.

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