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Business

Banks sink on European economic worry (Reuters)
Wed, 22 Feb 2012 21:45:52 GMT   

Traders work on the floor of the New York Stock Exchange February 21, 2012. REUTERS/Brendan McDermidReuters - Banks led stocks lower on Wednesday as the S&P 500 stalled near a 10-month-high after signs of weak European business activity rekindled concerns about a recession overseas.


 
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 21:27:00 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 - 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.


 
HP profit plummets, CEO urges patience (Reuters)
Thu, 23 Feb 2012 02:30:50 GMT   
Reuters - Hewlett-Packard Co's earnings fell nearly 44 percent and the world's No. 1 computer maker forecast a second-quarter profit below Wall Street estimates as it struggles with weak sales of PCs and printers.
 
Burned before, Fed officials cautious on rebound (Reuters)
Wed, 22 Feb 2012 21:47:38 GMT   
Reuters - U.S. central bank officials have good reason to be skeptical about the strength of the economy: excessive optimism has caught them flat-footed before.
 
World stocks rise on hopes for Greece, US economy (AP)
Fri, 17 Feb 2012 15:13:27 GMT   

A man walks in front of the electronic stock board of a securities firm in Tokyo, Friday, Feb. 17, 2012. Asian stocks rose strongly on Friday after encouraging U.S. housing and employment reports sent Wall Street to its highest level this year and added to growing optimism of a recovery in the world's No. 1 economy. Tokyo's benchmark Nikkei 225 index jumped 1.9 percent to 9,412.27. (AP Photo/Itsuo Inouye)AP - Stock markets advanced Friday on hopes that Greece would soon get its crucial second bailout and following another batch of upbeat U.S. economic news.


 
European budget cuts and debt burdens, at a glance (AP)
Wed, 22 Feb 2012 11:19:16 GMT   
AP - European budget cuts and debt burdens, at a glance
 
HP CEO pleads patience as earnings fall 44 pct (AP)
Thu, 23 Feb 2012 00:16:58 GMT   

A logo of HP is seen outside Hewlett-Packard Belgian headquarters in Diegem, near Brussels, January 12, 2010. REUTERS/Thierry RogeAP - Hewlett-Packard Co. CEO Meg Whitman pleaded for patience Thursday as she described operational challenges and other internal problems that contributed to a decline in earnings at one of the world's largest technology companies.


 
G20 hopes for progress on EU debt crisis: Carstens (Reuters)
Wed, 22 Feb 2012 22:39:06 GMT   
Reuters - Group of 20 policymakers are hoping for a signal this weekend that Europe will boost crisis funding, smoothing the way for a deal to increase International Monetary Fund resources, the head of Mexico's central bank said on Wednesday.
 
Romney proposes 28 percent top income tax rate (Reuters)
Thu, 23 Feb 2012 00:26:40 GMT   
Reuters - Republican Mitt Romney revised his proposal for overhauling the U.S. tax code on Wednesday, calling for all individual tax rates to be cut by 20 percent while declining to offer specifics on how to make up the lost revenue from lower rates.
 
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.


 
Some money from mortgage settlement to be diverted (AP)
Wed, 22 Feb 2012 22:47:22 GMT   
AP - The ink wasn't even dry on a settlement with the nation's top mortgage lenders when Missouri Gov. Jay Nixon laid claim to a chunk of the money to avert a huge budget cut for public colleges and universities.
 
Iran talks failure sparks confrontation fears (Reuters)
Thu, 23 Feb 2012 06:01:30 GMT   

Herman Nackaerts (R), head of a delegation of the International Atomic Energy Agency (IAEA), arrives from Iran next to delegates Raphael Grossi (L) and Laura Rockwook at the airport in Vienna February 22, 2012. The U.N. nuclear watchdog said on Wednesday it had failed to secure an agreement with Iran during talks over disputed atomic activities and that the Islamic Republic had rejected a request to visit a military site. The team from the IAEA had hoped to inspect a site at Parchin, southeast of the capital Tehran, where the agency believes there is a containment chamber to test explosives, suggesting possible weapon development. Iran has denied the charge that it is developing nuclear weapons. REUTERS/Herwig PrammerReuters - The U.N. nuclear watchdog's latest mission to Iran failed to budge a defiant Tehran over its disputed nuclear program, sending oil prices to a nine-month high over fears of an increasing risk of confrontation with the West.


 
FACT CHECK: Errant claims on auto bailout, taxes (AP)
Thu, 23 Feb 2012 04:07:19 GMT   
AP - Twenty Republican presidential debates later, the head-scratching claims kept coming.
 
Ford to add $3.8B to pension plans this year (AP)
Thu, 23 Feb 2012 00:25:50 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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