Posted: 29 Jun 2011 02:56 PM PDT
Reuters - Wall Street closed its best three-day run in three months on Wednesday after the Greek parliament approved austerity measures to avoid defaulting on its debt.Posted: 29 Jun 2011 05:31 PM PDT
Reuters - Asia's fast-rising economies set their sights on securing key IMF posts under new chief Christine Lagarde, hopeful she would be the one to make good on oft-heard pledges to give more power to emerging markets.
Posted: 29 Jun 2011 02:26 PM PDT
Reuters - The London Stock Exchange's C$3.6 billion ($3.7 billion) plan to buy its Toronto counterpart collapsed on Wednesday in the face of a competing bid led by Canadian banks, leaving the UK exchange itself vulnerable to takeover.Posted: 29 Jun 2011 05:11 PM PDT
Reuters - Bank of America Corp said it expects to take more than $20 billion of charges after settling with mortgage bond investors, resulting in a second-quarter loss.Posted: 29 Jun 2011 05:09 PM PDT
Reuters - Hedge fund Paulson & Co. has more time to increase the payout on a group of U.S. luxury resort hotels it owns after bankruptcy court gave it an extension on Wednesday.
Posted: 29 Jun 2011 10:34 AM PDT
Reuters - Swap dealers would need to disclose more information to customers and provide added protection to clients like pension funds and municipalities under new rules proposed by securities regulators on Wednesday.
Posted: 29 Jun 2011 10:11 AM PDT
Reuters - The International Monetary Fund on Wednesday pressed U.S. lawmakers to quickly lift the government's borrowing limit to avoid a "severe shock" to global markets and a still-fragile economic recovery.
Posted: 29 Jun 2011 03:34 PM PDT
AP - KB Home's shares tumbled more than 15 percent on Wednesday, after the homebuilder reported its second-quarter loss more than doubled amid lackluster sales and higher charges, and the company signaled it is considering tapping the capital markets to raise cash.Posted: 29 Jun 2011 06:22 PM PDT
AP - Greece fended off a bankruptcy that threatened to roil global financial markets, approving severe spending cuts and tax increases Wednesday in the face of violent protests by Greeks who say they have suffered enough.Posted: 29 Jun 2011 04:04 PM PDT
AFP - Bank of America said Wednesday it would set aside $14 billion to settle claims from angry investors for losses on dodgy mortgage-backed securities whose collapse triggered the 2008 financial crisis.Posted: 29 Jun 2011 08:17 AM PDT
Posted: 29 Jun 2011 01:43 PM PDT
Reuters - Clothing retailer Gap Inc will enter Africa this year, as part of an ongoing international push, with plans to open stores in Egypt and Morocco.
Posted: 29 Jun 2011 01:45 PM PDT
AP - Nearly three dozen states have rejected the idea of requiring sprinkler systems in homes by enacting legislation or rules that prohibit mandatory installation.
Posted: 29 Jun 2011 03:25 PM PDT
Investor's Business Daily - The oilfield services company sees growth potential in Poland, where a shale gas basin has drawn the attention of major oil companies, a Halliburton executive told Reuters. Drilling activity there is seen picking up next year, and the company is scheduled to start drilling a well for Chevron in Q3. In May, the Polish gov't said it was committed to shale gas, despite environmental concerns related to hydraulic fracturing. Shares climbed 2.3% to 49.82.
Posted: 29 Jun 2011 06:22 PM PDT
AP - In a blistering rebuke of Republicans, President Barack Obama on Wednesday pressed lawmakers to accept tax increases as part of a deal to cut the nation's deficits and avoid a crippling government default. "Let's get it done," Obama challenged, chiding Congress for frequent absences from Washington.Posted: 29 Jun 2011 02:19 PM PDT
AP - For six years, California gave owners of hybrid cars the keys to the fast lane: permission to drive alone among carpoolers.
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