Asian stocks near 6-week highs, cool to China data HONG KONG (Reuters) - Asian stocks hovered near six-week highs on Wednesday as Chinese data showed exports and imports in February were better than expected, while the euro and the pound suffered on renewed concerns about Europe's fiscal problems.
BofA ending overdraft fees on debit cards NEW YORK/CHARLOTTE, North Carolina (Reuters) - Bank of America said on Tuesday it will no longer charge overdraft fees on debit card purchases as of this summer, a move that may cost millions in fee income.
Cisco leapfrogs rivals with faster router NEW YORK (Reuters) - Cisco Systems Inc introduced its first major new routers in six years and said they can be configured to handle Internet traffic up to 12 times faster than rival products.
Senators to seek wider "Volcker rule" WASHINGTON (Reuters) - Two Senate Democrats said they will propose on Wednesday placing new limits on proprietary trading by banks and nonbank financial firms, widening the 'Volcker rule' backed by the White House.
Greece says G20 to review financial speculation WASHINGTON (Reuters) - Greece, pressing for curbs on financial speculation it blames for worsening the country's debt crisis, said on Tuesday the idea would be examined by the Group of 20 leading powers at their next summit.
Bailed-out U.S. financial stocks surge NEW YORK (Reuters) - The shares of companies bailed out by the U.S. government during the financial crisis surged on Tuesday, fueled by speculation about money-making asset sales, cheap valuations and a recovery.
Chevron seeks UK refinery sale, to cut 2,000 jobs NEW YORK (Reuters) - Chevron Corp , the second-largest U.S. oil company, put some of its downstream operations up for sale, including its Pembroke refinery in the UK, and said it would eliminate 2,000 jobs this year.
Toyota to fix more Tundras for rust problems DETROIT (Reuters) - Toyota said on Tuesday it would fix all Tundra pickups sold in the United States for the 2000 to 2003 model years to address a risk that part of the truck's frame could corrode, causing spare tires or even the gas tank to drop to the road.
Oil slips for 2nd day as U.S. crude inventories climb SINGAPORE (Reuters) - Oil fell for a second day on Wednesday after an industry report showed U.S. crude stockpiles jumped more than expected last week, dampening hopes of a strong recovery of demand in the world's top user.
CEO bonuses fell 22 pct in 2009: report NEW YORK (Reuters) - U.S. consumer, financial and technology companies slashed bonuses for their chief executives by more than half in 2009, a leading firm that tracks pay data said on Tuesday, as companies moved to more closely tie executive pay to performance.
Democrats doubt deadline on healthcare WASHINGTON (Reuters) - Congressional Democrats on Tuesday cast doubt on their chances of meeting the White House's March 18 deadline for voting on a stalled healthcare overhaul, but said they are moving as fast as they can.
Visiting Biden condemns new Israel settlement plan JERUSALEM (Reuters) - U.S. Vice President Joe Biden on Tuesday condemned Israeli plans to build 1,600 more homes on occupied land where Palestinians seek statehood, announced in the middle of his visit to help revive peace negotiations.
Toyota, U.S. officials investigate runaway Prius LOS ANGELES/DETROIT (Reuters) - U.S. safety regulators and Toyota dispatched teams on Tuesday to inspect a Prius that sped out of control on a California freeway a day earlier, as the automaker struggled to reassure consumers shaken by its recall crisis.
Decisive phase of Afghan war looms: Gates FORWARD OPERATING BASE FRONTENAC, Afghanistan (Reuters) - Secretary of Defense Robert Gates told troops in southern Afghanistan on Tuesday they would soon be part of a "decisive phase" in the war -- an operation to impose control over the Taliban heartland of Kandahar province.
Obama backs bipartisan crackdown on healthcare cheats WASHINGTON (Reuters) - President Barack Obama, making a final push for healthcare reform, will back bipartisan plans to stamp out waste in government-run medical programs for the old and needy, the White House said on Tuesday.
Nigeria urged to end impunity after village massacre JOS, Nigeria (Reuters) - Nigeria must prosecute those behind a weekend massacre and address underlying issues of poverty and discrimination if it is to end a cycle of violence in the zone between its Muslim north and Christian south, rights groups and diplomats said.
Accused Letterman extortionist pleads guilty NEW YORK (Reuters) - A television producer pleaded guilty Tuesday to trying to extort $2 million from U.S. talk show host David Letterman by threatening to reveal his affairs with women who worked on his late-night program on CBS.
9/11 suspects should face civilian court, U.N. envoys say GENEVA (Reuters) - United Nations human rights investigators called on the Obama administration on Tuesday to prosecute the accused September 11 masterminds in a civilian court, declaring that U.S. military tribunals would not be fair.
Bali bombing suspect killed: Indonesia president CANBERRA (Reuters) - A leading Southeast Asian militant, wanted for the 2002 Bali bombings, was the man killed in police raids in Jakarta, Indonesia's President Susilo Bambang Yudhoyono said on Wednesday.
Woods practice reports set tour tongues wagging MIAMI (Reuters) - Media reports that Tiger Woods is working with his swing coach Hank Haney have leading golfers talking of a possible return to action for the world number one.
UK PM Brown warns of bumpy economic road ahead LONDON (Reuters) - British Prime Minister Gordon Brown sees risks to the economic recovery and says it is not the moment to change course as he prepares for an election by June.
UK's Miliband urges push for Afghan peace deal LONDON (Reuters) - British Foreign Secretary David Miliband urged Afghans on Wednesday to push energetically for a peace settlement with Taliban insurgents and said Afghanistan's neighbors must support such an agreement.
Bali bombing suspect killed: Indonesia president CANBERRA (Reuters) - A leading Southeast Asian militant, wanted for the 2002 Bali bombings, was the man killed in police raids in Jakarta, Indonesia's President Susilo Bambang Yudhoyono said on Wednesday.
Clinton says elections key to Haiti stability WASHINGTON (Reuters) - Secretary of State Hillary Clinton urged quake-stricken Haiti on Tuesday to hold legislative elections "as soon as appropriate," saying new polls were key to the stability and legitimacy of the Haitian government.
Israeli general says "all options" needed on Iran NEW YORK (Reuters) - All options "should remain on the table" to force Iran to stop its nuclear program, Israel's top general said on Tuesday during a visit to New York.
Nigeria urged to end impunity after village massacre JOS, Nigeria (Reuters) - Nigeria must prosecute those behind a weekend massacre and address underlying issues of poverty and discrimination if it is to end a cycle of violence in the zone between its Muslim north and Christian south, rights groups and diplomats said.
Vatican says wrong to single out Church over abuse VATICAN CITY (Reuters) - The Vatican said on Tuesday it was wrong to focus blame for child abuse on the Catholic Church and denied accusations it had sought to cover up pedophilia by its clergymen around Europe.
U.N. sees no security vacuum as U.S. troops exit Haiti UNITED NATIONS (Reuters) - The United Nations is confident there will be no security vacuum in Haiti as U.S. and other foreign troops withdraw from the earthquake-struck Caribbean country, a top U.N. official said on Tuesday.
U.S. kept Britain in dark over torture: ex spy chief LONDON (Reuters) - The United States deliberately kept Britain in the dark about the harsh methods it used when interrogating suspected terrorists, the former head of Britain's domestic spy agency said on Tuesday.
Yemen offers talks with separatists DUBAI (Reuters) - Yemen, under international pressure to quiet domestic unrest and focus its sights on al Qaeda, has offered to hold talks with southern separatists and hear their grievances, state media said on Tuesday.
Abbott to Buy Facet Biotech for 67% Premium Abbott Laboratories announced late Tuesday that it had agreed to buy Facet Biotech for a net price of $450 million in cash, in a move aimed at expanding its drug pipeline, including for treatments for multiple sclerosis.
S.E.C. Accuses Ex-Trader of Taking Kickbacks A former stock loan trader at Morgan Stanley and Bank of America in New York received well over $100,000 of cash kickbacks by steering orders to other brokerage firms, the Securities and Exchange Commission said in a lawsuit filed Tuesday.
Carlyle Said to Seek Buyers for Arinc The private equity firm Carlyle Group has hired Goldman Sachs to seek buyers for Arinc, its military-contracting and aviation business, according to Bloomberg News.
Not Just for Laughs: a Consumer Lending Salvo The director Ron Howard has created two comedic Internet videos that use movie and television stars to promote the creation of a Consumer Financial Protection Agency.
Erin Callan: the Greta Garbo of Wall Street Whatever happened to Erin Callan, the former chief financial officer of Lehman Brothers? Fortune tracked her down to the Hamptons, where she is living a Greta Garbo-like life.
Markopolos Would 'Love to Fire' Most S.E.C. Staffers Harry Markopolos is still angry about the Securities and Exchange's failure to catch Bernard L. Madoff sooner. And if he had his way, he told "The Daily Show," he'd fire most of the agency's staff.
GMAC Finance Chief to Leave for Providence Equity The chief financial officer of GMAC, the onetime General Motors finance arm that was bailed out by the government, is leaving the company for a job at the private equity firm Providence Equity Partners.
Madoff Victims Warned of Fake Web Site The Securities Investor Protection Corporation issued a warning about a group masquerading as another investor protection group in an apparent attempt to lure victims of Bernard L. Madoff.
Second Pension Fund Sues Goldman Over Pay Goldman Sachs Group was sued on Monday by a large union pension fund that accused the Wall Street investment bank of overpaying its executives.
Another View: Vice Chancellor Strine Gets It Right Another View: Manan Shah and Benjamin M. Grossman, attorneys at Jones Day, argue that Delaware has a better legal approach to corporate governance and executive compensation than Washington.
Europe Is Said to Close Debt Sales to Wall Street EU nations are shutting major Wall St. banks out of their debt sales, The Guardian reports. No large U.S. bank ranks among the top nine leading the sales of sovereign bonds, according to data from Dealogic.
Euro Unity? It's Germany That Matters Ten years after the euro, it's still all about Germany, which isn't the way it was supposed to be, Celestine Bohlen of Bloomberg News writes in her latest column.
Kroll Auction Said to Draw P.E. Bids Marsh & McLennan is shopping its Kroll corporate investigations unit around, including to private equity firms like the Carlyle Group, Apax Partners and General Atlantic, The Financial Times reports, citing unnamed sources.
Paulson and Soros Like NovaGold NovaGold Resources, which focuses on discovering gold, said Monday that it plans to raise $75 million by issuing 13.6 million new shares to be sold to private investment fund Quantum Partners, run by Soros Fund Management.
Draft on Payday Rules Loses a Provision Senator Bob Corker wants a proposed bank agency to be more lenient toward nonbank companies, but some advocates say that would hurt consumers.
China?s Exports Jump 45.7 Percent China's exports grew strongly in February in a new sign of a rebound in global demand, government figures showed Wednesday.
Israel Intends to Build Civilian Nuclear Plants Israel, widely believed to have nuclear weapons and possessing no oil, said on Tuesday that it intended to develop civilian nuclear plants for energy.
As Fed Eases Loan Aid, Policy Challenges Arise The Federal Reserve has ended nearly all of the lending programs it created in 2007 to combat the credit crisis, but in the coming months it must decide when and how to tighten monetary policy.
Eurotunnel Eked Out $2 Million Profit in 2009 Net earnings were down 96 percent as the economy weakened cargo transportation and a breakdown of Eurostar trains disrupted year-end holiday travel.
Oil and Gasoline Prices Begin to Creep Up Somewhat upbeat economic data, new tensions in Nigeria and reports that China plans to build up its reserves have lifted crude prices. Gasoline prices have followed.
Obama backs Greece on speculators President Barack Obama has 'responded positively' to calls to clamp down on market speculators, says the Greek PM after talks.
EU concern over end of tanker bid Brussels says it hopes European aerospace group EADS was not prevented from fairly bidding for a major US defence deal.
Aer Lingus to make 670 job cuts Aer Lingus announces plans to lay off 670 staff, including nearly a quarter of its cabin crew, as part of restructuring plans.
UK bank fraud 'moves to internet' Fraudsters are continuing their switch from traditional card fraud to raiding online bank accounts, new research shows.
BA strike action talks to resume Talks aimed averting strike action by BA cabin crew are due to resume later, after a deadline was extended.
UK trade gap at 17-month high The UK goods trade deficit with the rest of the world widens in January, causing the pound to dip below $1.50.
Sony eyeing June launch of 3D TV Electronics giant Sony says its new 3D television will be on sale in Japan from June, with a cost of £2,600 for a 46-inch screen model.
Eurotunnel makes profit in 2009 Eurotunnel, which manages the Channel Tunnel, makes an annual profit of 1.4m euros despite a "poor economic environment".
Toyota rejects electronics fears Toyota rejects claims that faulty electronics could be behind its worldwide recall of more than eight million cars.
Legoland firm sees more visitors Madam Tussauds, Sea Life and London Eye owners, Merlin, weathers the downturn with visitor growth and expansion plans.
Brazil slaps trade sanctions on US Brazil is backed by the WTO as it slaps trade sanctions against US imports in retaliation for illegal subsidies to cotton farmers.
Car sales see continued recovery UK car sales in February were up by 26.4% compared with the same month last year, industry figures show.
Ford outsells GM after sales jump Ford reports a jump in US sales of 43% last month, selling more cars than its great rival General Motors, as Toyota sales slip.
No guarantee on 2012 lottery cash The Olympic Delivery Authority says it cannot guarantee all National Lottery money used for London 2012 will be returned.
Indonesia militant 'was killed' Indonesia's President Yudhoyono confirms security forces killed terror suspect Dulmatin in raids in Jakarta on Tuesday.
US attacks East Jerusalem plans The US vice-president condemns Israel's approval of 1,600 new homes in East Jerusalem, as he prepares to visit the West Bank.
US 'hid terror suspect treatment' A former UK spy chief says she did not know US intelligence services were mistreating terror suspects until after she retired.
Nigeria 'ignored attack warnings' A Nigerian governor accuses the army of ignoring warnings of attacks, as communal tension remains high near Jos.
Formal Suu Kyi ban in Burma poll A new election law formally bars pro-democracy leader Aung San Suu Kyi from taking part in elections planned in Burma.
Ban honours UN's Haiti 'heroes' Ban Ki-moon pays tribute to the 101 UN staff who died in the Haiti quake, as President Preval seeks US support for the economy.
Activist case to open in Israel A court case brought by the family of Rachel Corrie, a US protester killed by an Israeli army bulldozer in 2003, is to open.
Five killed in Pakistan attack Unidentified gunmen attack the office of a Western aid agency, killing up to five people, police say.
Arrests in Cyprus body theft case Three men are arrested in connection with the theft of the corpse of Cyprus's ex-President Papadopoulos, officials say.
Bendtner shines as Arsenal progress Nicklas Bendtner silences his recent critics with a hat-trick as Arsenal see off Porto in emphatic fashion to reach the Champions League quarter-finals.
Portsmouth 1-2 Birmingham Two goals from Cameron Jerome inspire Birmingham to a battling win against bottom-club Portsmouth at Fratton Park.
Can US broker Middle East peace? Joe Biden is in the region to encourage talks between the Palestinians and Israel. What can be achieved?
File-sharing sanctions 'unfair' Illegal file-sharers should be fined, rather than have their internet connection cut off, says the boss of BT.
Hard drive evolution could hit XP Hard drives are about to undergo one of the biggest format shifts in 30 years but it could cause problems for Windows XP users.
Porn net domain name plan revived A plan to create a .xxx net domain for adult content will be revisited three years after it was rejected by internet regulators.
Nanotech 'fuse' for novel battery A never-before-seen reaction in nanotubes could make for batteries that pack a mighty punch, say researchers.
Games migrate to the social side The merging of social networks and games is set to dominate this year's Game Developers Conference in San Francisco.
Sony eyeing June launch of 3D TV Electronics giant Sony says its new 3D television will be on sale in Japan from June, with a cost of £2,600 for a 46-inch screen model.
Skynet satellite system extended Skynet 5, the UK's single biggest space project, is to get a fourth satellite to up the bandwidth available to British forces.
Facebook death 'lessons to learn' The home secretary says internet safety lessons must be learned after a convicted sex offender contacts and kills a teenager.
US eases sanctions for freer web The US eases sanctions on Iran, Cuba and Sudan to help further the use of internet services and support opposition groups.
Dotcom Crash 10 years on from when the Nasdaq bubble burst
Sun spotters Your help is needed to watch the surface of the Sun
Weak questions put e-mail at risk Questions used as security checks on websites need to be replaced by better tests to see who someone is, say researchers.
Drug scam hijacks college sites UK university websites are targeted by criminals peddling counterfeit drugs from fake online pharmacies.
Mobile phones learn to lip read A device that could allow people to conduct phone conversations without uttering a word is shown off by researchers.
Queen expresses net concerns The Queen warns that businesses in developing nations are missing out because the internet is an "unaffordable option" in many areas.
Browsers demand screen time Small browser firms want changes made to Microsoft's browser choice screen to make their programs more prominent.
LifeLock settles with FTC for $12 million Federal regulators said Tuesday that LifeLock has agreed to pay $12 million to settle charges the company made deceptive claims about its ability to protect customers from identity theft.
Cash for Clunkers: Better than we thought The government's Cash for Clunkers program resulted in a far bigger boost to car sales than was previously estimated, even by the government, according to a new analysis by Maritz Research, an automotive market research company.
Some execs get 'pity' bonus Maybe you missed your earnings target last year or your stock was crushed. But if you're a corporate executive, that might not necessarily prohibit you from earning a generous bonus.
Fears of a Greek bank run In the middle of the 2001 debt crisis, Argentines stormed their nation's banks to get their money out. To stop the stampede, the government imposed controls that allowed them to take out only $250 at a time and limited withdrawals for overseas trips to $1,000.
Cult soda maker Jones agrees to sharply discounted takeover Jones Soda, the struggling maker of cult-favorite soft drinks, has agreed to be acquired by rival Reed's at a deep discount in a deal worth just shy of $10 million, the companies said Tuesday.
House eyes last-minute tax break for Chile donations Taxpayers may still be able to deduct last-minute donations to Chile earthquake relief from their 2009 taxes, if a bipartisan bill introduced in the House on Tuesday is signed into law.
Oil falls as the dollar firms Oil prices fell Tuesday as a stronger dollar overshadowed a modest advance on Wall Street.
The Dow's best performer is ... The hottest blue chip stock this year isn't what you think. It's not a big bank on the mend, a gadget maker with a hot new product, or a retailer with soaring sales.
Cisco unveils ultra-fast Internet technology Cisco unveiled a new Internet technology Tuesday that it says will provide the ultra-fast data speeds necessary to stay ahead of users' rapidly growing online video demands.
U.S. minted more millionaires in 2009 America's millionaires are on the rise again, according to a report issued Tuesday, after their ranks thinned out during the 2008 market meltdown.
Treasurys inch up amid strong demand for 3-year notes Treasurys inched slightly higher Tuesday, in the midst of the government's $40 billion auction of 3-year notes -- the first of several multibillion-dollar note and bond offerings in the coming days.
Sex.com domain goes up for grabs Sex.com, one of the most valuable Internet domain names, will go up for auction next week after the previous owner defaulted on its debts.
Toyota starts the long road back Toyota fired another volley this week as it continued its fight to regain the confidence of owners shaken by reports of unintended acceleration.
Chevron to cut 2,000 jobs Chevron Corp., the second largest U.S. oil company, announced on Tuesday that it would cut 2,000 jobs this year amid challenging market conditions.
Stocks muster gains; Nasdaq at 18-month high Stocks managed gains Tuesday at the end of a choppy session as investors mulled the latest corporate deal and profit news on the anniversary of the bear-market bottom.
Dollar mixed in quiet trading The dollar recovered losses versus the euro and rose against the pound, but fell versus the yen in quiet trading Tuesday.
Census jackpot: $500 billion a year in U.S. aid Federal programs will dole out more than $500 billion a year over the next decade based on data collected through the 2010 Census, according to a study released Tuesday.
What makes most admired companies different? Practically every company I know wants to come out of the recession competitively stronger. Now, enough time has passed that we can see which demonstrably did and which dismally didn't.
Apps: An Uphill Climb to TV Developers who delight in creating software for smartphones say there's little incentive to build apps for television
Verizon Wireless to Show NFL Games on Phones Verizon Wireless won an agreement to show live National Football League games on its mobile phones, expanding its video offerings to lure smartphone customers away from rivals.
U.S. Millionaires Grew 16% in 2009 Stock market increases helped lift the number of families with a net worth of at least $1 million--minus their primary residence--to 7.8 million
Continental Boss Blasts Federal Delay Rule Continental Airlines' chief, Jeff Smisek, offered a rare public CEO tantrum on Tuesday at a J.P. Morgan investor conference. He was asked about the general tone in Washington toward the airline industry and took the opportunity to vent about the new federal rule targeting tarmac delays exceeding ...
A Hard-Times, Fast Food Fight Promotions and international sales let McDonald's wow investors while shares of Wendy's and Burger King languish amid a U.S. hunger for jobs
Australia, Indonesia Will Combat People Smuggling (Update2) Australia and Indonesia agreed to work more closely on combating human smuggling and terrorism and will upgrade annual talks between leaders and officials to a level enjoyed by Australia?s closest ally, the U.S.
Bali Bomber Dulmatin Killed in Raid, Yudhoyono Says (Update1) Indonesian President Susilo Bambang Yudhoyono said wanted terrorist leader and suspected Bali bomber Dulmatin was among three people killed in a police raid yesterday near the capital, Jakarta.
Defaults Signal Bursting Muni Junk Bubble on High-Yield Surge Investors in search of better returns poured $7.8 billion into high-yield municipal bond funds last year, pushing assets to a two-year high. They may start experiencing losses as early as this year as default risks grow.
U.S. Senate Set to Vote on Plan to Extend Unemployment Benefits The U.S. Senate is set to approve a $138 billion plan that would extend unemployment benefits through the end of this year after eight Republicans joined Democrats yesterday to end efforts to block the plan.
Vote for Tech's Best Young Entreprenuers Once again, the tech team at BusinessWeek is preparing our annual list of the best under-30 entrepreneurs. Who would you put on our list of the brightest young stars in the tech industry? Check out our online poll and nominate who you think are the most deserving start-up founders.
Buffett-Backed BYD Targets Toyota Can an automaker from China capitalize on the Toyota recall scandals? With the reputation of the Prius tarnished, the Chinese company backed by Warren Buffett, BYD, could hardly have found a better time to roll out its green cars in the U.S. and Europe. The company attracted Buffett?s attention in ...
Attacks on Detainee Lawyers Split Conservatives Right-leaning legal scholars have bristled at a video, produced by a group that Liz Cheney runs, that questions the loyalty of lawyers who worked for terror detainees.
Food Aid Bypasses Somalia?s Needy, U.N. Study Finds As much as half the food aid sent to Somalia is diverted to a web of corrupt contractors, Islamist militants and local U.N. staff, according to a report.
Upset by U.S. Security, Pakistanis Return as Heroes A U.S. tour arranged by the State Department ended in a public relations fiasco when the group of Pakistani legislators refused to submit to extra airport screening.
Pennsylvania Woman Tied to Plot on Cartoonist Federal prosecutors accused Colleen R. LaRose, who called herself ?JihadJane,? of linking up online with militants overseas, culminating in an alleged murder plot.
