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Top business headlines
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Geithner: Obama seeks 28 percent corp. tax rate
22 Feb 2012 at 12:16pm
WASHINGTON (AP) -- President Barack Obama says the current corporate tax system is outdated, unfair and inefficient.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....
[From AP Top Business News At 1:16 p.m. EST]
Microsoft hits Motorola, Google with EU complaint
22 Feb 2012 at 12:03pm
BRUSSELS (AP) -- Microsoft on Wednesday lodged a formal complaint with the European Union's competition regulator against Motorola Mobility and its soon-to-be owner Google, saying Motorola's aggressive enforcement of patent rights against rivals breaks competition rules....
[From AP Top Business News At 1:16 p.m. EST]
S&P fails to break key level; euro zone data weighs
22 Feb 2012 at 12:00pm
NEW YORK (Reuters) - 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.
[From Reuters: Business News]
Rising sales point to better year for housing
22 Feb 2012 at 11:58am
WASHINGTON (AP) -- The housing market is flashing signs of health ahead of the spring-buying season....
[From AP Top Business News At 1:16 p.m. EST]
Watch: Greece Downgraded, Gas Prices Continue Climb
22 Feb 2012 at 11:50am
Ellen Braitman explains how recent business news is affecting global stocks.
[From ABC News: Money]
Oil price lower after 4-day rise
22 Feb 2012 at 11:49am
NEW YORK (AP) -- A four-day rise in oil prices stalled Wednesday following a weak report on Chinese manufacturing and lingering concerns about Greece's bailout....
[From AP Top Business News At 1:16 p.m. EST]
Peugeot and GM in alliance talks: sources
22 Feb 2012 at 11:20am
FRANKFURT/PARIS (Reuters) - General Motors and PSA Peugeot Citroen are discussing a manufacturing alliance designed to stem losses in Europe and reduce production costs elsewhere, sources with knowledge of the matter said.
[From Reuters: Business News]
Fitch downgrades Greece on debt swap plan
22 Feb 2012 at 11:13am
ATHENS (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.
[From Reuters: Business News]
US stocks fall as Europe frets over Greece
22 Feb 2012 at 11:08am
NEW YORK (AP) -- U.S. stocks fell Wednesday as investors worried over the details of a new bailout plan for Greece....
[From AP Top Business News At 1:16 p.m. EST]
Greece rushes to pass bailout laws amid protests
22 Feb 2012 at 10:58am
ATHENS (Reuters) - Thousands of protesters angry at punishing spending cuts poured into Athens' central Syntagma Square on Wednesday as Greek lawmakers rushed to pass laws needed to secure payment of a second bailout for the debt-laden country.
[From Reuters: Business News]
Greek lawmakers rush to clear promised austerity
22 Feb 2012 at 10:40am
ATHENS, Greece (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....
[From AP Top Business News At 1:16 p.m. EST]
Exclusive: Palo Alto Networks, other tech firms tee up IPOs
22 Feb 2012 at 10:32am
NEW YORK (Reuters) - A series of technology companies, including security software maker Palo Alto Networks, are preparing to go public on the heels of Facebook's $5-billion filing, sensing a window of opportunity as the stock market rallies.
[From Reuters: Business News]
JPMorgan, Citi, BofA sued for $949 million by Sealink
22 Feb 2012 at 10:17am
NEW YORK (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.
[From Reuters: Business News]
UBS to issue more loss-absorbing capital
22 Feb 2012 at 9:54am
ZURICH/LONDON (Reuters) - UBS might struggle to attract big institutional investors for more loss-absorbing bonds it wants to sell, after investors voiced distaste for the structure and price of an initial $2 billion deal announced on Wednesday.
[From Reuters: Business News]
Existing home sales at 1-1/2 yr-high, supply falls
22 Feb 2012 at 9:43am
WASHINGTON (Reuters) - U.S. home resales surged in January to a 1-1/2 year high and the supply of properties on the market was the lowest in almost seven years, pointing to a nascent housing recovery.
[From Reuters: Business News]
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