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Business

S&P fails to break key level (Reuters)
Wed, 22 Feb 2012 18:16:15 GMT   

Traders work on the floor of the New York Stock Exchange February 21, 2012. REUTERS/Brendan McDermidReuters - U.S. stocks fell on Wednesday with the S&P 500 stalled near a 10-month-old high after weak data on Europe's business activity raised concerns about a recession.


 
Fitch downgrades Greece on debt swap plan (Reuters)
Wed, 22 Feb 2012 14:04:45 GMT   
Reuters - Fitch cut Greece's long-term ratings on Wednesday to its lowest rating above a default, becoming the first ratings agency to make the widely expected downgrade after the country announced a bond exchange plan to ease its massive debt burden.
 
Home resales at 1-1/2 year-high, supply falls (Reuters)
Wed, 22 Feb 2012 18:36:05 GMT   

A labourer selects wooden planks as he works at a residential construction site in Hefei, Anhui province February 18, 2012. China's home prices fell in January from December, marking the fourth monthly fall in a row and showing that the policy-driven property market downturn is deepening, which will add to worries about a hard landing in the world's second-largest economy. REUTERS/Stringer (CHINA - Tags: BUSINESS REAL ESTATE CONSTRUCTION EMPLOYMENT)Reuters - U.S. home resales rose to a 1-1/2 year high in January, pushing the supply of properties on the market to the lowest level in almost seven years in a hopeful sign for the housing sector.


 
Citi, UBS provide keys to interest rate-rigging probe: sources (Reuters)
Wed, 22 Feb 2012 15:17:02 GMT   
Reuters - Citigroup Inc and UBS AG , in a series of disclosures to law-enforcement officials, have provided crucial information to investigators in multiple countries as part of inquiries into whether the world's biggest banks manipulated a global benchmark interest rate, according to people familiar with the situation.
 
JPMorgan, Citi, BofA sued for $949 million by Sealink (Reuters)
Wed, 22 Feb 2012 16:17:14 GMT   
Reuters - JPMorgan Chase & Co., Citigroup Inc., Bank of America Corp. and more than a half dozen other major banks are being hit with a new lawsuit over $949 million in residential mortgage-backed securities.
 
Nasdaq looks to Congress to win market reforms (Reuters)
Thu, 16 Feb 2012 22:38:42 GMT   
Reuters - Exchange operator Nasdaq OMX is trying to gain support for a legislative proposal that would give it a competitive edge over both rival exchanges and banks that operate anonymous trading venues known as "dark pools."
 
Pace of new credit card accounts picks up in 2011 (AP)
Tue, 21 Feb 2012 23:49:16 GMT   
AP - More people opened new credit card accounts last year, as the banking industry began to loosen standards it tightened during the recession.
 
MGM Resorts 4th-quarter loss narrows, revenue up (AP)
Wed, 22 Feb 2012 14:03:17 GMT   
AP - MGM Resorts International narrowed its loss in the fourth quarter, as revenue climbed and occupancy improved at its Las Vegas Strip properties.
 
Strauss-Kahn freed after French police questioning (AP)
Wed, 22 Feb 2012 18:02:55 GMT   

FILE In this Wednesday, Oct. 29, 2008 file photo International Monetary Fund Managing Director Dominique Strauss-Kahn speaks during a news conference in Washington. Former IMF chief Dominique Strauss-Kahn will be questioned Tuesday Feb. 21, 2012 by French police investigating a suspected hotel prostitution ring. Police have questioned prostitutes who said they had sex with Strauss-Kahn during 2010 and 2011 at a luxury hotel in Paris, a restaurant in the French capital and also in Washington DC. Strauss-Kahn lived in the U.S. capital while he was head of the International Monetary Fund before resigning his IMF position in May. (AP Photo/Haraz N. Ghanbari)AP - The former chief of the International Monetary Fund, Dominique Strauss-Kahn, has been released from a French police station after two days of questioning over a suspected hotel prostitution ring.


 
Consumer-finance watchdog probes overdraft fees (AP)
Wed, 22 Feb 2012 12:40:35 GMT   
AP - The government's new consumer-watchdog agency is launching a probe into costly overdraft fees charged by big banks.
 
Greek lawmakers rush to clear promised austerity (AP)
Wed, 22 Feb 2012 16:39:56 GMT   
AP - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a new bailout and debt relief deal designed to stave off bankruptcy.
 
Holiday spending pushes Macy's 4Q profit higher (AP)
Tue, 21 Feb 2012 22:42:48 GMT   

FILE - In this file photo taken Sept, 29, 2011, Elsy Santiago, left, and her sister Betsy, exit Macy's in Hialeah, Fla. Macy's Inc. said Tuesday, Feb. 21, 2012, its fiscal fourth-quarter net income climbed 12 percent thanks to strong holiday spending and surging online sales. (AP Photo/Alan Diaz, File)AP - A strong holiday shopping season and hearty online sales pushed Macy's Inc.'s fourth quarter net income up 12 percent. That topped Wall Street's expectations, and the department store chain's stock hit a 52-week high.


 
Rising sales point to better year for housing (AP)
Wed, 22 Feb 2012 18:36:40 GMT   

A labourer selects wooden planks as he works at a residential construction site in Hefei, Anhui province February 18, 2012. China's home prices fell in January from December, marking the fourth monthly fall in a row and showing that the policy-driven property market downturn is deepening, which will add to worries about a hard landing in the world's second-largest economy. REUTERS/Stringer (CHINA - Tags: BUSINESS REAL ESTATE CONSTRUCTION EMPLOYMENT)AP - The housing market is flashing signs of health ahead of the spring-buying season.


 
Gas prices up for 4th straight week in W.Va. (AP)
Wed, 22 Feb 2012 18:18:32 GMT   
AP - Gas prices in West Virginia are about 46 cents higher per gallon compared with a year ago.
 
Geithner: Obama seeks 28 percent corp. tax rate (AP)
Wed, 22 Feb 2012 18:16:35 GMT   

President Barack Obama, accompanied by Vice President Joe Biden, talks about the importance of the payroll-tax cut and jobless-benefits extension compromise that bi-partisan House and Senate conferees reached last week, Tuesday, Feb. 21, 2012, in the Eisenhower Executive Office Building on the White House complex in Washington. (AP Photo/J. Scott Applewhite)AP - President Barack Obama says the current corporate tax system is outdated, unfair and inefficient. He is calling for an end to dozens of subsidies and loopholes that he says offer tax breaks to companies that move jobs and profits overseas.


 
Ford to add $3.8B to pension plans this year (AP)
Wed, 22 Feb 2012 17:07:59 GMT   
AP - Ford Motor Co. will pump $3.8 billion into its global pension plans this year as it tries to get them closer to fully funding their obligations.
 
 


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