Asia shares rise on Apple earnings and China
Asian stocks rose on Wednesday as investors cheered Apple's strong earnings and on optimism that China may roll back policy tightening measures later this year, while the euro firmed ahead of euro zone's bank stress test results late in the week.
Financial system support up $700 billion in past year: watchdog
Increased housing commitments swelled U.S. taxpayers' total support for the financial system by $700 billion in the past year to around $3.7 trillion, a government watchdog said on Wednesday.
BP CEO reported to leave soon
BP Chief Executive Tony Hayward will step down within the next 10 weeks, the Times newspaper reported, as the company battles to remain independent after the worst oil spill in U.S. history.
Hedge funds still attracting billions in new cash
Hedge funds pulled in $9.5 billion during the second quarter with nervous investors preferring to send their money to the biggest and best established managers, according to industry tracker Hedge Fund Research Inc on Tuesday.
BP's Hayward to step down within 10 weeks: report
BP Chief Executive Tony Hayward is to step down within the next 10 weeks, The Times reported on Wednesday.
AXA Asia shares fall as guidance misses forecasts
AXA Asia Pacific , target of an $11.5 billion takeover battle, flagged a 5.7 percent rise in first-half operating earnings, shy of market expectations, as its Hong Kong operations were hurt by currency movements.
Judge OKs Goldman's $550 million SEC settlement
A federal judge has approved a $550 million settlement between Goldman Sachs and the U.S. Securities and Exchange Commission related to civil fraud allegations in a subprime mortgage product.
BP to sell $7 billion in assets to Apache
BP Plc said on Tuesday it reached a deal to sell $7 billion in assets to Apache Corp as the British oil company raises money to cover costs related to the oil spill in the Gulf of Mexico.
Yahoo revenue misses Wall Street expectations
Yahoo Inc missed Wall Street's revenue estimates in the second quarter as some customers unexpectedly cut spending on online display ads toward the end of June, and shares fell more than 6 percent.
Apple forecast beats Street view
Apple Inc gave an unusually upbeat revenue forecast that trounced Wall Street's expectations and eased fears that the Antennagate controversy around its iPhone 4's reception would hurt sales, boosting its shares 3 percent.
Countrywide VIP program larger than disclosed: lawmaker
More than 40 employees at mortgage finance giants Fannie Mae and Freddie Mac received special perks on mortgage loans from Countrywide as part of its former CEO's special VIP program, a top Republican U.S. lawmaker said on Tuesday.
U.S., China begin talks on innovation trade dispute
U.S. and Chinese officials kicked off new talks on Tuesday on a thorny trade issue at the center of Western government and industry concerns that China is becoming less open to foreign firms.
CORRECTED: Apple forecast beats Street view
(Corrects iPhone 4 launch date to June 24 from June 28 in paragraph 8.)
Australian Dollar Outlook 21/7/2010
The Australian Dollar has opened higher after the Reserve Bank of Australia (RBA) said the next rate movement was all but dependent on official inflation data due next week.
JPMorgan's Dimon not invited to U.S. bill signing
On Wednesday, JPMorgan Chase & Co Chief Executive Jamie Dimon will be left out in the cold.
Daily Forex Commentary 21/7/2010
The Aussie sprung to life either side of the Reserve Bank release of the July board meeting minutes moving to an intraday high of 0.8745 before slipping back towards US87 cents.
Instant view: Apple quarter beats, Antennagate seen over
Apple Inc reported results that blew past Wall Street's expectations, boosted by robust sales of Mac computers, sending its shares 3 percent higher.
Two Fed banks still wanted discount rate hike in June
Two regional Federal Reserve banks, Kansas City and Dallas, last month continued to push for an increase in the rate the central bank charges banks for emergency loans, according to meeting minutes released on Tuesday.
Apple results blow past estimates
Apple Inc reported results that blew past Wall Street's expectations, boosted by robust sales of Mac computers, sending its shares 3 percent higher.
Nokia Siemens wins $7 billion U.S. deal
Nokia Siemens Networks has won an eight-year contract worth more than $7 billion with an upstart U.S. operator looking to build a high-speed wireless network to offer wholesale services in the fiercely competitive market.
Facebook unrestrained amid NY ownership lawsuit
Facebook may continue business as usual while it fights a New York man's claim he has a contract with founder Mark Zuckerberg that entitles him to 84 percent ownership of the world's leading social networking site, a U.S. court heard on Tuesday.
Liverpool Hospital getting $20 million upgrade
Liverpool Hospital will get 42 new beds and more emergency department equipment worth $20 million as part of an agreement between the Council of Australian Governments (COAG) and New South Wales.
Wall Street rises on Goldman while Apple up late
U.S. stocks rose for a second consecutive day on Tuesday, led by gains in shares of Goldman Sachs and strength in beaten-down homebuilders and raw materials companies.
U.S. could lose $37 billion a year to tax havens: Levin
The U.S. government loses $37 billion per year in tax revenues because multinational corporations stash money in overseas tax havens, Democratic Senator Carl Levin and a group of small businesses said in a report on Tuesday.
Goldman earnings fall on trading slump and charges
Goldman Sachs could turn out to be a mere mortal after all.
New rotavirus vaccine to be tested on babies
Researchers at the Murdoch Children's Research Institute will conduct a clinical trial on a new rotavirus vaccine for babies they have developed.
Playboy launches new safe-for-work website
Playboy on Tuesday launched a new, non-nude website that it described as being safe-for-work and a satirical antidote to the drudgery of the work day.
Google to use wind energy to power data centers
Google Inc's energy unit has entered into a deal to buy wind power from NextEra Energy Inc for the next 20 years to power data centers.
Two Fed banks wanted discount rate hike in June
Two regional Federal Reserve banks, Kansas City and Dallas, continued to push for a modest increase in the rate charged to banks for emergency loans, according to minutes from a June meeting.
Fed to push rates lower? Some traders betting on it
The big question ahead of U.S. Federal Reserve Chairman Ben Bernanke's Congressional testimony on Wednesday is whether a weaker economy could prompt the Fed to push already rock-bottom borrowing costs even lower.
