MARKETS / FINANCE

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Congress still billions apart on budget deal

Congressional negotiators on Wednesday raced against a looming deadline to agree on billions of dollars in spending cuts in a budget deal that keeps the federal government operating beyond Friday.

Wall Street dances in place ahead of earnings

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The S&P 500 wavered near a seven-week high on low volume on Wednesday as investors refrained from making big bets before the start of earnings season next week provides the next catalyst for stocks.
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Portugal pays high yield to sell short-term debt

Debt-stricken Portugal managed to sell a billion euros in short-term debt on Wednesday but the yields rose sharply, intensifying pressure from local lenders and ratings agencies to seek a bailout.
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Ergen-led Dish wins Blockbuster auction for $320 million

Dish Network Corp won Blockbuster Inc in a bankruptcy auction for about $320 million, a move that could see the second-largest U.S. satellite TV provider tapping the movie rental chain's online content to strengthen its offerings.
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Tech boards more proactive over activism

Cash-rich technology companies are increasingly willing to go hostile in their bids for rivals, but potential targets are more worried about another threat -- shareholder activism, senior bankers said on Tuesday.
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Stock futures rise on economy, earnings bets

Futures on the S&P 500 hit their highest level in more than a month on Wednesday as investors bet the upcoming earnings season and more merger activity will continue to lift equities higher.
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FTC and Justice Department mull Google antitrust probe

U.S. antitrust regulators may investigate Google Inc's dominance of the Web search industry, and will settle on the agency to launch a probe once scrutiny into the company's plan to buy ITA software is done, a source told Reuters on Tuesday.
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Bets on earnings, economy lift stock futures

Futures on the S&P 500 hit their highest level in more than a month on Wednesday as investors bet the upcoming earnings season and more merger activity will continue to lift equities higher.
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Twitter disables new version of website

Twitter experienced service disruptions on Tuesday, displaying an older version of the social networking website to some users and becoming completely inaccessible to others.
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Japan plans 3 trillion yen extra budget, no debt issue: media

Japan will not issue new debt to fund an initial extra budget of more than $35 billion for disaster relief, the Asahi newspaper said, in a sign the government is wary of alarming bond investors by adding too much to Japan's already huge debt pile.
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Boehner ups ante as government shutdown looms

With time running short, President Barack Obama failed on Tuesday to break a deadlock in budget talks between his Democrats and Republicans that threatens a partial shutdown of the government.
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FTC, Justice Dept mull Google antitrust probe

U.S. antitrust regulators may investigate Google Inc's dominance of the Web search industry, and will settle on the agency to launch a probe once scrutiny into the company's plan to buy ITA software is done, a source told Reuters.
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Icahn, Dish, others vie for bankrupt Blockbuster

Blockbuster Inc's future was at stake on Tuesday as billionaire investor Carl Icahn squared off against Dish Network Corp and two other suitors at a bankruptcy auction to decide the movie rental chain's next owner.
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Some at Fed saw easy money need past 2011: minutes

Some Federal Reserve officials last month believed they would have to hold to an easy monetary policy course beyond this year while a few said the central bank should move to tighter conditions before year-end.
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CBOE chief's pay dwarfs rivals at NYSE, CME

CBOE Holdings Inc Chief Executive Officer William Brodsky, who steered the operator of the biggest U.S. options market through an initial public offering last June, received a giant pay boost for his efforts.
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FBI agent tallies Rajaratnam trades for jury

Trade-by-trade and sometimes using a calculator, an FBI agent testified at hedge fund founder Raj Rajaratnam's insider trading trial how the government matched phone records with transactions that it contends were based on illegal confidential information.
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Google shares fall on fears of U.S. probe

Shares of Google Inc fell nearly 3 percent on Tuesday, following a Bloomberg report that the U.S. Federal Trade Commission is considering an antitrust investigation of the company's dominance of the Web search industry.
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Obama warns shutdown would hurt economy

President Barack Obama warned on Tuesday that a federal government shutdown would seriously disrupt the U.S. economy, after Republican and Democratic leaders failed to make headway on a budget deal.
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Treasury working on corporate tax plan: Geithner

The Obama administration is preparing a comprehensive proposal for corporate tax reform in an effort to kickstart the legislative process in Congress, U.S. Treasury Secretary Timothy Geithner said on Tuesday.
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The Swiss Franc, Euro and Gold

Seems you can't keep a safe haven down. Not when retained wealth worldwide needs to escape money-printing and zero rates at home. What options are left to anxious savers? What choice but the Euro is still open to the Swiss National Bank...?
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Ex-BP boss denies investment fund reports

Former BP Plc chief executive Tony Hayward denied on Tuesday he was setting up an investment firm as he left a private meeting in one of the most luxurious hotels in the United Arab Emirates.
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Minutes show Fed split over timing of policy exit

Divisions at the U.S. Federal Reserve over how soon to reverse course on monetary policy emerged more clearly last month, although the central bank appeared intent to complete a $600 billion bond-buying plan.

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